KuCoin and Coinbase are top cryptocurrency exchange platforms, with Coinbase having its client base in the United States while KuCoin focuses on providing a global experience. To get a more profound knowledge about the features possessed by these two crypto platforms, we have prepared a detailed KuCoin vs Coinbase comparison.
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Both KuCoin and Coinbase are highly secured crypto exchanges. They offer low fees and give their clients a friendly experience. KuCoin supports over 600 tradable assets, which is one part to prove why users call it the top 1 altcoin exchange. In addition, KuCoin provides a number of promising coins with small market caps. If you prefer to find crypto gems and potential investment opportunities, KuCoin is the best place for you. Another thing to mention about KuCoin is its auto-trading tool that allows even newbies to trade confidently.
This review compares KuCoin with Coinbase based on their core features. Of course, it is best for crypto enthusiasts to place investments sure of reaping the expected returns. However, this KuCoin vs Coinbase comparison allows you to make an informed decision for newbies in the crypto arena.
KuCoin has its place among the biggest crypto exchanges in the world. It offers its users the opportunity to buy, sell, and trade their cryptocurrencies. Besides giving its users basic trading options, KuCoin also offers margins, futures, and peer-to-peer trading. Users are also allowed to stake and sometimes lend their crypto, and in turn, they earn rewards.
The exchange was established in 2017 with its headquarters in Seychelles, and even though it is one of the newer crypto exchange platforms, it has grown to be among the largest exchanges by trading volume. KuCoin is estimated to have at least 10 million users spread over 200 countries worldwide. In 2018, the exchange announced a 20 million USD Round-A-Funding from Matrix Partners and IDG Capital.
Coinbase is one of the most well-established crypto exchanges that provide a secure conduit in crypto trading. Coinbase users can easily buy, sell, and transfer digital currencies worldwide. All the same, a more significant chunk of its client base is from the United States.
Currently, Coinbase is the largest American crypto exchange, and this makes it clear that most of its users are Americans. This company was founded in 2012 as a platform for receiving and sending Bitcoin. However, as more cryptocurrencies continued to emerge, they joined its portfolio, and now, there are dozens of cryptocurrencies that exchange wallets daily.
Even though this is the most known platform in the US, Coinbase has operations in more than 100 countries handling hundreds of billions of dollars per quarter. As of this writing, Coinbase controls two different platforms, including the Coinbase crypto wallet service.
KuCoin vs Coinbase: User Experience
The user experience of KuCoin vs Coinbase is a highly competitive one. KuCoin has a very intuitive user interface and can, therefore accessible by anyone who has basic skills in crypto trading. Regarding accessing their accounts, users can do it through an online portal or their well-designed mobile applications for either Android or iOS.
Both platforms have been fully equipped with the needed crypto trading features and tools. For instance, crypto users can buy, sell, lend, and trade crypto on mobile and desktop devices. In addition, KuCoin’s market supports four order types, including stop limit, stop market, margin, and futures.
To improve the experience of its users, KuCoin also supports the use of bots to ease and simplify the trading process. Besides, KuCoin KYC is equally top-notch.
On the other hand, Coinbase is available both on the web and on mobile devices. Since the platform offers two different platforms, each with different features, new users may get confused about which platform to use.
Coinbase also strives to give its users a great trading experience through 24/7 operational markets, which means they can always trade as they wish. However, for more advanced features, Coinbase users will need to access the Pro version. In KuCoin vs. Coinbase user experience, it is clear that KuCoin gives its users a better experience.
There is a security struggle between KuCoin and Coinbase since both crypto platforms aim to ensure that their users’ assets remain fully protected. KuCoin offers its users KYC verification and other regular security features such as 2-factor authentication and data encryption. Besides KuCoin KYC, the platform ensures that its users have a separate password for trading to have an added protection layer, a feature not found in other crypto exchanges.
Looking at Coinbase, the platform uses offline cold storage in safe boxes worldwide, making its digital assets free from hacking. Apart from that, it utilizes standard encryption on its website and applications and the basic 2-factor authentication.
Like the KuCoin KYC verification, Coinbase also observes KYC regulations on all its dealings. Importantly, even with these security features, it still advises customers to ensure that they use unique passwords that hackers cannot easily construct.
KuCoin Fees vs Coinbase
The fees are straightforward when it comes to KuCoin fees vs. Coinbase comparison. KuCoin offers a maker/taker fee model with fees between 0.0125 and 0.1, depending on the user’s tier level. Compared to Coinbase, KuCoin’s fees are relatively low as they charge up to 0.50% per trade.
It is also common for users to receive discounts based on their KCS balance. Its withdrawal fees vary depending on the asset, while deposits are free. When comparing KuCoin fees vs Coinbase fees, most users would choose KuCoin.
Coinbase, on the other hand, has never been forthcoming about its fees structure, even though users know the number of fees they would incur before beginning a trade. As a result, Coinbase trading fees vary between $0.99 and $2.00 when trading under $200. Trading above $200 is charged on a percentage basis.
KuCoin KYC and Coinbase KYC
Coinbase uses identity verification to ensure explicit knowledge about its customers’ compliance with KYC regulations. In addition, this multistep process prevents them from hosting fraudulent customers.
Similarly, KuCoin ensures that it performs a complete KYC process on all its users, with their prospects enjoying higher withdrawal limits. However, they do this when the user presents some suspicious activity on their accounts.
The battle between KuCoin and Coinbase regarding customer support favors KuCoin. KuCoin provides users with multiple options for contacting customer support through live chats, where they receive answers to their questions directly and in real-time. Besides, it has an easy-to-explore support page with all the frequently asked questions.
Coinbase, on the other hand, has not-so-good customer service, as it is almost impossible to receive any form of help. They only have a help page, which does not offer an effective link between the platform and its customers.
The Key Advantage of KuCoin
The critical advantage that KuCoin has over Coinbase is its fee system. As a result, users can conduct their transactions with low fees. In addition, withdrawal and deposit fees are not as high as other crypto trading platforms.
Their effective customer support system is another outstanding benefit. Trading crypto in terms of buying, selling, and trading can be a daunting task, and therefore, most users appreciate good customer service.
Going by this KuCoin vs. Coinbase comparison, we conclude that KuCoin offers its users a better platform than Coinbase. KuCoin operates globally in over 200 countries while maintaining its professional nature.
Coinbase has its jurisdiction centered in the US. In that case, crypto traders would find more help using KuCoin as a platform due to its top-tier features. It is, however, essential to note that investing in crypto is a precarious affair full of speculations.
To add to these, markets can also be highly volatile to those who are yet to understand the trading basics. In that case, it is advisable to consult with professionals before making any financial decisions.