- Crypto Exchanges
- Exchanges Comparison
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- Crypto Wallets
Comparison of two quite similar exchanges – Binance and KuCoin, reliable and with a wide range of cryptocurrencies available one both. The exchanges offer different experiences and UI designs, which is very important as the feel and experience are different. That’s why there are platforms that not only develop their infrastructure for security and stability but also their user experience. There are numerous exchanges that go through design renovations to provide a better user experience.
KuCoin and Binance are quite similar and follow the same path. But Binance (as one of the behemoths on the market) has a much larger daily volume than KuCoin. But this does not prevent KuCoin from being one of the better competitors in the industry.
Both provide excellent experience in buying and selling crypto to crypto. If you decide to invest in different altcoins and projects besides Bitcoin or Ethereum both exchanges provide unique options in this matter. The two platforms are quite similar in some aspects but also quite different at the same time.
Here we have two good exchanges that were started at about the same time, but how did Binance become the biggest? Maybe the friendly user interface was the reason and the wide range of cryptocurrencies available on the platform.
UI design is more important than you think
KuCoin presents us with a very nice UI full of good features and information in a better way when compared to that of Binance. Everything is nailed in a very logical way, so it is very easy to navigate. All information is easy to find and you can easily jump to another crypto pair to trade and exchange.
Binance has multiple UI options tailored for different trading styles and instruments to choose from, which may be confusing for some people, but at the same time giving their users a lot of options. Personal preference will play a bigger role here because all of the different UI designs are good and perfect for exchanging and trading crypto to crypto every day.
This is the standard option with all of the information on the screen, so you can make better decisions faster without having to search through endless tabs by scrolling down the page. Binance offers an advanced UI design that’s much better than the simple one. It is much better structured for long trading sessions.
Both platforms offer good UI designs that are perfect for trading and exchanging bitcoin and other cryptocurrencies, but KuCoin has a better designed UI than that on Binance. The positive thing about Binance is that, as mentioned earlier is that you can choose from multiple user interfaces.
You will find a high level of security on both exchanges, as they apply high-security practices overall. They continue to invest more and more in a better security framework, as this is one of the most important aspects of this nascent industry.
KuCoin has multi-layered security as well as all the necessary tools to protect your account. Needless to say, Binance and KuCoin use Cold and Hot wallets, this is an obligatory security measure for any highly respected crypto exchange. Recently KuCoin had a bank-level disaster-proof deployment, taking their stability and security to a new level.
Binance comes with high-security measurements and instruments too. They apply 2FA, Anti-phishing code, withdrawals whitelist, SMS Authentication, and device management. Despite the high-security, Binance was hacked not so long ago. So the win of this round goes to KuCoin for two reasons, its bank-level disaster-proof deployment and that it has not been hacked.
Both platforms support deposits and withdrawals on all their crypto offerings. So you won’t find a lack of options here. You have support for over 350 cryptocurrencies on Binance and over 70+ on KuCoin. For fiat deposits, your only option is debit and credit cards for both platforms. Unfortunately, you will not find other important options such as SEPA, wire transfers, etc… Keep in mind that the two exchanges are mainly intended for the exchange of crypto for crypto.
Since we risk making this round too much like the deposit and withdrawal round, we will be short. Binance has over 350+ cryptocurrencies while KuCoin offers over 70+ altcoins for trading. On Kucoin you can trade futures with 100x on two pairs – BTCUSDT and ETHUSDT, for margin trading you can trade multiple crypto pairs with up to 10x leverage. Binance offers a high number of leverage trading instruments from futures, Quarterly futures to innovative instruments like leveraged tokens. The max leverage available on Binance is 125x for BTCUSDT with the rest of the available pairs using lower max leverage due to risk measures. In this round, Binance is the clear leader for trading instruments beating Kucoin by quite the margin.
The design of the fee structure on the two exchanges is very nice. Since both platforms have native tokens that you can buy and hold, you can get lower trading fees overall. They are very similar, with both platforms charging a trading fee of 0.1%. Depending on how much you hold of KCS (for KuCoin) you can get a trading fee of only 0.01215% for maker and 0.03% for taker. And depending on how much BNB you hold (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.
They are different and at the same time very close to each other as they target the same user base. Both have good UI designs, many cryptocurrencies for trading. KuCoin has better security, with the biggest difference being due to the multi-layered security implementation. Binance has much higher liquidity because it is the largest crypto to crypto exchange in the industry, but KuCoin is getting better and better, don’t underestimate the smaller player.