Binance vs Kucoin - Which one to choose?

Binance vs Kucoin - Which one to choose?

It is a great investment due to the variety of strategies. Are you looking to buy and hold it? 

Do you want to know more about the process of lending using cryptocurrency?

Do you think that margin trading is a good option for you?

Based on the strategy you employ to trade, you'll require certain features of your cryptocurrency exchange that are developed by top custom software development companies. 

With all the exchanges out on the market, How do you choose which one is right for you?

Kucoin, along with Binance, is an established cryptocurrency exchange. While they use the same model of business and use the same cost structure, there are a few minor differences between these two exchanges run by top custom software development companies. It is probable that you will choose you would prefer one of them. Kucoin or Binance could fulfill your requirements better than any other.

In this article, we will go over the details about Kucoin and Binance to help you decide which one is appropriate for you.

Kucoin against. Binance Overview

Two of them, Kucoin and Binance, have a common business model. They are both exchanges that offer the possibility of accessing hundreds of altcoins that are otherwise hard to get. There are also similar fees starting at 0.1 percent and decreasing in cost as you move higher in the trading levels.

Kucoin and Binance each have a native cryptocurrency that was developed by top software development firms Users are also offered an incentive for holding the currency. They also provide similar services, including an exchange for the futures cryptocurrency lending platforms, as well as the marketplace for P2P trading bots, as well as margin trading.

Kucoin vs. Binance

Let's take a look at the differences between the two platforms for exchange.

What is Kucoin?

Kucoin has its headquarters in Hong Kong. It was created in China, the largest cryptocurrency exchange by top software development firms that were forced to relocate after the crackdown of the government on cryptocurrency.

Kucoin's model of business is built on having a wide range of crypto assets that you can use. With solid safety, a good reputation, and reasonable fees, Kucoin is an excellent option if you're looking for a cryptocurrency exchange.

What is Binance?

 

Binance is located in Hong Kong. Its business model is like Kucoin offering access to and simple trading across various cryptocurrency assets by largest software development companies.

 

For memberships at the lower levels, Binance does not require an ID. If you do not need an ID to gain access to the upper levels of membership then you can remain anonymous with Binance.

 

With over 13 million customers, Binance is a well-known cryptocurrency exchange platform.

 

 

What's the Difference?

 

Kucoin and Binance use a similar business approach and fee structure. The majority of traders will appreciate the variety of assets, levels of security, as well as support services provided by largest software development companies for customers identical between the two platforms.

 

There are a few minor differences between the platforms and you may find that Kucoin or Binance is suited to your requirements slightly better.

 

Fees Comparison

 

Kucoin And Binance fees start at 0.1 percent. The fee percentage drops when you progress to a higher trading level.

  

KuCoin Fees

 

Kucoin is a more aggressive model of tiers and affordable fees for users at higher levels. If you plan to make large-scale trades and move up the ranks, Kucoin is a clear winner. Kucoin also provides dividends that are 50% of trading earnings from its token.

 

Binance Fees

 

There are no deposit fees on Binance, and withdrawal charges are contingent on the currency of the asset. The Binance token is used to pay costs for the platform. If you're thinking you're likely to be a tiny trader but remain in the lower tiers of Binance, its fees are better than Kucoin's. 

 

If you intend to utilize the market in the future, Binance is a clear winner. It offers a higher taker rate than Kucoin.

  

Assets Comparison

 

Both platforms had developed by top software development companies in the world can access hundreds of altcoins that are otherwise difficult to acquire. Therefore, it should be unsurprising that Kucoin and Binance have a large selection of assets.

 

Binance has an array of altcoins that range from 242 to. Kucoin has 179 altcoins. While Binance is the winner due to its sheer volume, it's unlikely that a typical crypto buyer will be able to find Kucoin's offerings not sufficient.

 

If you are trading, Binance offers the ability to trade with their tokens and Tether. Kucoin lets you trade using the token as well as Tether however, it also offers NEO as well as BTC Cash.

 

The possibility of trading in other currencies allows Kucoin better able to adapt. However, Binance's fee structure for trades that are made using Kucoin is highly competitive.

 

When comparing options, it is important to consider your trading style and select the platform compatible with your requirements.

Authentication Comparison

 

Both platforms have two-factor authentication. They have a solid security track record and haven't been compromised.

 

Binance is a large platform developed by top software development companies in the world with many users and has been reported to have numerous phishing attacks. It is not an indication of the company. It is more of an instruction to users to make sure they're visiting the correct website. Never provide your password or other information when you suspect you are being scammed. You should use two-factor authentication each time you get the opportunity to.

 

Customer Service Comparison

Kucoin provides incredibly quick customer support. It has a 24-hour telegram support chat that has a fast response time.

 

Binance provides customer support who binance has outsourced to top software development company via tickets. While there is an extended wait time for tickets, the service provided by Binance is better than many other exchanges.

 

The main difference that separates Kucoin in comparison to Binance is that Kucoin offers an automated process of trading as well as lending. Kucoin gives all its customers the option of trading for free. It works across the traditional trading market as well as within the markets for the futures.

 

While Binance allows third-party trading robots, it doesn't offer a free, native bot.

Kucoin also offers a more extensive cryptocurrency lending platform. It has built an online marketplace that connects lenders and borrowers that are able to agree on an interest rate and time. Kucoin ensures that the market is secure with reliability and a degree of control for the transaction.

 

Although Binance offers crypto-based lending, it only makes loans through Binance itself.

 

Final Thoughts

 

Kucoin, as well as Binance are two well-established cryptocurrency exchanges developed by top software development company. They have the same business model and use the same fee structure. Many traders will consider the selection of assets, the level of security, and customer service services similar between the two platforms.

 

There are some minor distinctions between the platforms, and you may find that Kucoin or Binance is best suited for your requirements slightly better.

 

 

When Binance is the Better Choice

 

If you're interested in cryptocurrencies that aren't well-known, Binance may be the right choice for you. They provide more cryptocurrency instruments as Kucoin does. The fee structure is competitive if you plan to be a low-volume trader.

  

When KuCoin is the Better Choice

 

On the other hand, If you plan to make large trades and move up the levels, Kucoin is the clear winner. If automated customer support and trading bots appeal to you, Kucoin is a good choice. If you're willing to wait for a live person to respond to your ticket for service, then Binance is the best choice. If your trading strategy relies on lending from crypto, Kucoin's lending marketplace could be an important factor. Remember that no matter what option you select, it is still tax-free on any cryptocurrency gains.

  

There isn't a clear winner between the two exchanges. Both are extremely good and solid platforms. It is worth looking at their interfaces and deciding which one is better for you.