Cryptocurrency

KuCoin vs Coinbase: Which is Better? Must Read!

KuCoin

KuCoin is a large cryptocurrency exchange where users may purchase, sell, and trade digital assets. In addition to traditional trading options, the platform supports margin, futures, and peer-to-peer (P2P) trading. Users can also earn incentives by holding or lending their cryptocurrency. KuCoin has cheap trading costs compared to some of its competitors, making it an attractive choice.

Kucoin

Pros

  • A large cryptocurrency trading with over 8 million members throughout the world.
  • Fees are extremely low at 0.1 percent, with a 20% reduction if you pay with KCS.
  • Apps for iOS and Android are available.
  • There are over 370 cryptocurrencies to choose from.
  • Crypto lending, trading bots, margin trading, and futures trading are additional features available.

Cons

  • When purchasing cryptocurrency with fiat currency, there are high costs (3 %-12 % )
  • It is not possible to withdraw fiat currency.
  • Customer service is poor, and there is no live chat.

Coinbase

Coinbase is a cryptocurrency exchange and trading platform that allows users to buy, trade, and exchange over 100 different cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. With over 73 million users and a market valuation of $255 billion, Coinbase is a huge company.

Pros

  • Coinbase ensures its platform privately, ensuring that your assets remain protected in the case of a hack.
  • The interface is simple and easy to use.
  • It takes only a few minutes to sign up and begin trading.
  • More than 70 cryptocurrencies to choose from.
  • A platform that is extremely safe and reliable.

Cons

  • The fee structure is complicated and costlier than rivals.
  • There is no live chat help for customer support, only email assistance is available.

KuCoin vs Coinbase Fees

KuCoin and Coinbase both have different fee systems.

Fees for Deposits

KuCoin does not accept deposits in fiat currency. If you wish to buy cryptocurrency using fiat, you may do so right now without pre-funding your account. Depending on your payment option, the cost ranges from 3 % to 12 %.

Whereas to buy crypto on Coinbase, you may either pay for it immediately at the moment of purchase or transfer fiat cash into your account first. If you wish to make a deposit initially, there are two options for citizens of the United States:

  • There are no costs associated with ACH transfers.
  • A $10 fee is charged for wire transfers.

Trading Fees

KuCoin boasts exceptionally cheap trading costs, starting at only 0.1 %, and if you pay fees using KCS currency (Kucoin’s token), you may get a 20% discount. For every transaction trading charge is 0.08%. If you are a high-volume trader or have a substantial number of KCS, you may save even more money with a tiered pricing structure.

The charge to buy crypto directly with fiat cash on KuCoin ranges from 3% to 12%. Depending on the payment method and channel. So, while the trading charge is minimal. If you don’t already have bitcoin to trade on the market, you’ll have to pay a large price to get your first coins.

Trading Fee
Kucoin Trading Fee

Coinbase, on the other hand, makes it simple to convert money to Bitcoin or other famous cryptocurrency. However, figuring out how much you’re spending on fees isn’t always simple. Your payment type and transaction amount determine the fees charged by Coinbase.

To buy $500 of Bitcoin using a debit card. You’ll also have to pay an undefined spread (about 0.5 % of each transaction) that’s included in the rate quotation you see before you buy that is displayed here.

Coinbase Trading Fee
Coinbase Trading Fee

Payment Method

Rate of Conversion Fees

US Bank Account

1.49%

Coinbase USD Wallet

1.49%

Debit Card

3.99%

Instant Card Withdrawal

Upto 1.5% (minimum $0.55)

Withdrawal Fees

One of the drawbacks of KuCoin is that it does not support fiat withdrawals. Only cryptocurrencies can be drawn, and the flat cost changes based on the coin you’re withdrawing. 

Kucoin Withdrawal Fees
Kucoin Withdrawal Fees

However, Withdrawal costs on Coinbase vary depending on your location and payment type. Here are the most popular fiat withdrawal options, along with their associated costs.

  • SEPA Bank Transfers: €0.15
  • Wire Transfer to the United States: $25.

Because you can’t sell your bitcoin on Coinbase in Singapore or Australia, Coinbase doesn’t offer fiat withdrawals in those countries.

Coinbase Withdrawal Fees
Coinbase Withdrawal Fees

KuCoin vs Coinbase Deposit Method

Both KuCoin and Coinbase allow a variety of deposit options to accommodate people from all around the world. Bank transfers (SEPA), PayPal, credit cards, debit cards, Apple Pay, and cryptocurrencies are all accepted by both exchanges.

KuCoin also offers Paypal as a payment option, whereas Coinbase does not.Coinbase supports several payment options that KuCoin does not, including bank transfer (ACH), Fedwire, SWIFT, and SOFORT/iDEAL.

KuCoin vs Coinbase Available Cryptos

One of the primary reasons people pick KuCoin is that it contains many tiny tokens that are more difficult to acquire on other platforms. There were approximately 650 cryptocurrencies on the site at writing, but new coins are added virtually every day. When comparing KuCoin vs. Coinbase, KuCoin comes out in the available cryptocurrency category.

Coinbase has a policy of listing as many coins as legally permitted to use it. However, because the site is fully permitted in the United States, its selection of cryptocurrencies is significantly more limited. For clients in the US, there are around 90 tokens available. Popular currencies like Bitcoin, Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and Solana are among them (SOL). Almost all of the top 50 tokens by market capitalization are traded.

KuCoin vs Coinbase Security

Security is crucial when putting money into a cryptocurrency exchange. Cold storage (keeping cash offline, where they’re more difficult to steal), third-party insurance, and solid user-level security features are all things to look out for.

Coinbase stores 98% of its money in cold storage and has third-party insurance for added security. Its website also advertises a variety of other services, such as personnel background checks and paper backups held in vaults around the country.

To ensure the protection of its assets, KuCoin has joined with On chain Custodian, a crypto asset custody platform. It has third-party insurance too like Coinbase. When KuCoin was hacked in 2020, this trade became quite beneficial.

Finial Verdict

KuCoin and Coinbase are two extremely distinct solutions with different sorts of investors. Coinbase is an excellent choice for beginning crypto traders since it is incredibly user-friendly and offers a wealth of instructional materials. Most crucially, save for Hawaii, Coinbase is accessible in every state in the United States. It is a strong and trustworthy cryptocurrency exchange.

U.S users are unable to be verified, KuCoin can provide a wider choice of tokens and complex crypto trading capabilities such as margin. It also gives users many more options for earning passive revenue from their bitcoin than Coinbase does. Residents in the United States, on the other hand, should exercise extreme caution when using an unauthorized site.

KuCoin cheap trading costs are compensated by the high cost of purchasing cryptocurrency with fiat cash. Coinbase Pro has somewhat higher trading costs, but consumers can deposit money free. As a result, KuCoin may be less expensive for frequent traders who already have cryptocurrency ready to trade. For someone who wishes to make more regular dollar deposits, Coinbase Pro would be a better option.

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