ByBit vs Kucoin: Crypto, Fees, KYC Exchanges Difference

Among several hundreds of cryptocurrency exchanges operating in 2022, there are only 10-15 clear leaders that stand out for their rich functionality, high security, long operating time, and customer comfort. Among them is Kucoin, also noteworthy is Bybit platform, which is great for trading cryptocurrency derivatives, but also offers other features.

Let's look at the presented crypto exchanges from all sides and find out in which cases it is better to use one and in which - to give preference to the other.


Kucoin

ByBit

Type of exchange

Сentralized

Сentralized

Year founded

2014

 2018

Registration country

Seychelles

Singapore

Trust Score (Coingecko)

10

10

Cryptocurrencies / trading pairs

1261

188

Trading types

Spot, Futures, Margin trading, P2P

Spot, Futures, Margin trading, P2P

Fees

0.1%

Taker Fee: 0.075%

Maker Fee: 0.025%

2FA

Yes

Yes

Mobile application

IOS, Android

IOS, Android

Daily trading volume on Spot market

$944 330 535

$8 808 244 873

Advantages and disadvantages of ByBit

Pros:

  • Low commissions
  • High leverage for margin trading - up to 100x
  • KYC is not required
  • Simple user-friendly interface
  • IEO marketplace, working by subscription mechanism, like on Binance
  • Its own coin - BIT

Cons:

  • Little liquidity

ByBit Review Summary 

91% Overall

We have analyzed key features of ByBit based on 3 important criteria for choosing crypto exchange:

  • Trustworthy
  • Usability
  • Fees
    Based on researches and our own tests, we have made an independent rating.
89%
Trustworthy
93%
Usability
92%
Fees

Advantages and disadvantages of Kucoin

Pros:

  • KYC is not required
  • Ability to buy from card
  • Higher leverage (up to 100x)
  • Own KCS token
  • Mining pool and cloud mining
  • KuCoin Chain (KCC) blockchain ecosystem

Cons:

  • Not quite a quality localization of the interface

KuCoin Review Summary 

91% Overall

We have analyzed key features of KuCoin based on 3 important criteria for choosing crypto exchange:

  • Trustworthy
  • Usability
  • Fees
    Based on researches and our own tests, we have made an independent rating.
92%
Trustworthy
89%
Usability
95%
Fees

About ByBit exchange

Cryptocurrency exchange Bybit was founded in 2018. Today, the exchange is among the top 5 by daily trading volume on the derivatives market according to CoinMarketCap. The exchange is headquartered in Singapore. Bybit's founding team consists of blockchain, forex and investment banking professionals.

Spot trading, inverse and USDT futures are available to Bybit users. The main specialization of the exchange is trading in perpetual derivative contracts for cryptocurrencies.

About Kucoin Exchange

KuCoin is a cryptocurrency exchange from Hong Kong, which allows you to conduct various transactions with digital currencies, trade more than 300 pairs and exchange some crypto-assets for others. And all this in one full-featured platform, the services of which are available to users from all over the world. KuCoin is a relatively young representative of the cryptocurrency market: the exchange started operating in 2017.

Comparative analysis of ByBit and Kucoin exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

ByBit offers: 

  • Passive income: stacking, deposits, dual investments, etc.
  • IEO-platform
  • Rewards, bonuses, referral program
  • NFT Marketplace

Kucoin offers:

  • Mining pool
  • IEO
  • NFT market

Available countries

ByBit and Kucoin do not provide trading services in sanctioned countries.

Payment methods

You can fund your ByBit and Kucoin account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on ByBit and Kucoin.

Available Cryptos and Tokens

ByBit currently supports 319 trading pairs and 238 coins. 

While Kucoin supports 1267 trading pairs.

Verification (KYC)

ByBit, on the other hand, allows trading without verification. The exchange belongs to the category of unregulated. If you are not going to work with fiat, participate in IEO or exceed the established minimum limits, you can do without account verification. Although passing the KYC is still desirable for those who plan to actively use the exchange and all its functions.

KuCoin has the ability to trade cryptocurrency, withdraw up to 1 BTC per day without verification, use leverage for futures up to 5x. It is not possible to use fiat. However, KYC procedure is implemented, it can be passed by those who want to remove restrictions and increase withdrawal limits.

Account deposit

Exchanges offer the following options for funding the account:

  • Crediting a fiat account with a card or payment system
  • Purchase from a card
  • Direct transfer of cryptocurrency to the exchange address

Comparison of Trading Fees

ByBit:

  • Taker Fee: 0.075%
  • Maker Fee: 0.025%

Kucoin:

  • Spot: 0.1% / 0.1% (maker/staker)
  • Futures: 0,02 % / 0,06 %

Owners of BIT and KCS tokens, respectively, can reduce these fees with them. In addition, fees are reduced for large traders with large monthly trading volumes.

Account security

Bybit has 2FA and anti-phishing code, the cryptocurrency is stored cold, but in general the list of protection measures is good.

The following options can be activated for protection on Kucoin: Password, Two-factor authentication, Phone and mail binding, Trade password (used to confirm financial transactions), Anti-phishing code.

Passive earn on exchanges

Products available at Bybit Earn: Savings - 5-600%, Bi-currency investments - 99-500 %, Liquidity Mining - 0.9-34 %, DeFi mining - 3-17%. 

KuCoin Earn provides products with flexible and fixed terms, high-yield stocks, staking (including Eth 2.0), and Polkadot auctions.

On the main page, where all the tools are listed, both exchanges allow you to easily select the best products for yourself, for example, high-risk or vice versa, for beginners.

Which to choose - ByBit or Kucoin

Nothing prevents you from having accounts on both exchanges and using them when the situation demands it. ByBit and Kucoin are two similar exchanges with almost identical functionality.

KYC in both cases is not required, but desirable. All in all, it's worth taking the time to get to know each exchange better, especially if you want to delve deeper into the cryptocurrency sphere.

Disclaimer:

NFTs trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

Is KuCoin a good exchange?

Yes, Kucoin is an excellent exchange, which is suitable for both experienced traders and beginners.

Where is Bybit located?

Bybit is a centralized cryptocurrency exchange established in 2018 and is registered in Singapore.

Is ByBit legit?

ByBit Crypto Exchange is registered in the Singapore and has been operating since 2018. Its services are used by millions of clients from more than 100 countries. ByBit is fully legal.

How can I withdraw money from KuCoin to bank account?

Kucoin provides access for withdrawal to cards and wallets.

Conclusion

Both Kucoin and ByBit are truly quality platforms, similar in many ways, but at the same time each with its own features. Both are great for cryptocurrency trading and have about the same commissions, so the choice depends on related factors: requirements for user identity, availability of required coins and tokens in the listing, quality of tech support. The user-friendliness of the interface and the ways you can deposit or withdraw money also play a role. Whatever options you choose, make sure you secure your account as much as possible. One of the safest ways to do this is to turn on 2FA.

Disclaimer:

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

Comparison of other exchanges

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.

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