Comparing two exchanges quite similar – Binance vs KuCoin, reliable and with a wide range of cryptocurrencies. One would ask – Why do we have so similar exchanges all over the board? First of all the exchanges offer different experience and UI which is very important. Not only for the looks but the feel and the experience is different. This is why you have platforms developing not only their infrastructure for security and stability but also for design. We saw numerous exchanges go through design renovations just for the sake of user experience.
KuCoin and Binance are quite similar and follow the same path. But Binance (being one of the behemoths in the market) has a much bigger volume than KuCoin. But this doesn’t stop KuCoin from being one of the best competitors.
They both deliver excellent experience when it comes to buying and selling crypto to crypto. I am sure that you may end up using both exchanges if decide to invest in different altcoins and projects besides Bitcoin or Ethereum. There are great projects listed on both, but there are also some that are just not so good. This is going to be a hard battle as the two platforms are quite similar in some points.
Here we have two good exchanges launched at around the same time. But how Binance became the biggest one? Maybe its friendly UI was the reason for this and a wide range of cryptocurrencies available on the platform. KuCoin presents us with a very nice UI full of good features and information more than Binance.
UI design is more important than you think
KuCoin gives a nice interface, very good layout and they have nailed the color. Everything is nailed in a very logical way thus making it very easy to navigate. All of the information is easy to find and you can easily jump to another crypto for trading and exchanging.
Binance is an exchange with two faces, which may be confusing for some people, but it gives you choice. A very important feature that not many platforms offer – a choice. The option to choose between two types of UI. Personal preference here will play a bigger role. As both designs are good and perfect for exchanging crypto to crypto daily.
This is the default option which is not so good for me personally but it offers you everything you need. All of the information is on the screen so you can make better decisions faster without searching in endless tabs scrolling down on the page. But as we said Binance offers an advanced UI design which is much better than the simple one. It is much better structured for long trading sessions.
Ultimately it depends on personal preference. As we see both platforms offer good UI designs perfect for exchanging but KuCoin is a little bit better designed than the Binance UI. On the plus side for Binance is that it gives you choice as we mentioned earlier. The interfaces are not too different but sometimes the small differences make a big one.
Round 1 – TIE
You will find high security on both of the exchanges as they imply high-security standards. They continue to invest in better security more and more as this is one of the most important things in the industry.
As for KuCoin security, it implies multi-layer security plus all the necessary instruments to protect your account. Of course, there is no need to mention that Binance and KuCoin imply cold and hot wallets, this is a mandatory security measurement for every highly regarded exchange. Recently KuCoin has added bank-level disaster-proof deployment thus bringing the stability and security to another level.
Binance comes with high-security measurements and instruments too. They apply 2FA, Anti-phishing code, withdrawals whitelist, SMS Authentication, and device management. Even though the high-security Binance was hacked not so long ago. Thus the win of this round goes to KuCoin for two reasons – the bank-level disaster-proof deployment and that it has not been hacked.
Round 2 Winner – KuCoin
Both platforms support deposits and withdrawals on all of their crypto offerings. So you will find no shortage of options here. You have support for over 350 cryptocurrencies on Binance and over 70 cryptocurrencies on KuCoin. For FIAT deposits your only option is through Debit and Credit cards for both platforms. Unfortunately, you will not find other important options like SEPA, Wire transfers, etc… Consider this that the two exchanges are mainly for crypto to crypto exchanging so I think that you will find no problem even without those options.
Binance offers much more crypto options and even taking the fact that KuCoin offers deposits and withdrawals on all of their available cryptos – the winner is clearly Binance.
Round 3 Winner – Binance
Because we risk this round of being too similar to the deposits and withdrawals round we will be short. Why? Because Binance trading options are over 350 cryptocurrencies and KuCoin offers 70+ altcoins for exchanging and trading. Both exchanges have recently launched leverage trading options and it is pretty similar.
Round 4 – TIE
The design of the fee structure on the two exchanges is very nice. As both platforms have native tokens which you can buy and hold so you can get lower trading fees overall. They are very similar, with both platforms applying a 0.1% trading fee. Depending on how much you hold of KCS (for KuCoin) you can get a trading fee as low as 0.01215% for Maker and 0.03% for Taker. And depending on how much you hold from BNB (for Binance) you can get as low as 0.020% for Maker and 0.040% for Taker and even lower if you trade with BNB – 0.015% for Maker and 0.030% for Taker. Thus we have one of the most similar systems in place between two exchanges, so I think that the result from this round is clear.
Round 5 – TIE
Yes, they are different and very close at the same time as they aim for the same user base. Both have good UI designs, a lot of cryptocurrencies for trading. With KuCoin having better security which you can say is the biggest difference due to the multi-layer security implementation. Of course, Binance has much higher liquidity as it is the biggest exchange for crypto to crypto. But KuCoin is becoming better and better, don’t underestimate the smaller player. He is growing fast!