FTX vs Kucoin – which is the best

The choice that is often difficult for novice traders to make is FTX or Kucoin. Crypto exchanges are similar to each other in many ways, but at the same time have a number of significant differences. We will look at both crypto-platforms and compare them according to the key criteria that users are most often interested in before registering.


Kucoin

FTX

Type of exchange

Сentralized

Сentralized

Year founded

2014

 2019

Registration country

Seychelles

Antigua and Barbuda

Trust Score (Coingecko)

10

10

Cryptocurrencies / trading pairs

1261

497

Trading types

Spot, Futures, Margin trading, P2P

Spot, Futures, Margin trading, P2P

Fees

0.1%

0.07%

2FA

Yes

Yes

Mobile application

IOS, Android

IOS, Android

Daily trading volume on Spot market

$944 330 535

$1 829 444 147

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

Advantages and disadvantages of FTX

Pros:

  • Bonuses and contests to encourage participants
  • Own token providing bonuses to its owners.
    Low commissions
  • Low commissions
  • Detailed background information on all aspects of work
  • Support for fiat currencies
  • A multifunctional platform that combines almost all the necessary functionality for trading and money management

Cons:

  • Verification is required to work with fiat and withdraw more than $1000

About FTX exchange

FTX is a crypto exchange for spot trading, derivatives with up to 110x leverage, tokenized stocks and other trading instruments. It features deep liquidity and tight spreads. Specialized liquidation system significantly reduces the probability of loss distribution. Transactions are settled in stabelcoins. Instant margin-free position opening is available with up to 3X leverage (leveraged tokens). FTT (exchange token FTX) gives holders benefits in the form of discounts on fees and tighter spreads on OTC trading.

About Kucoin Exchange

Kucoin launched in September of 2017 and is focused on creating a great experience for their users. The exchange is one of the most trusted websites out there & has a lot of features to offer. The platform provides a bounty program, 24 hour support and an easily searchable list of upcoming cryptocurrencies. With these many features, it's no wonder that the site is so popular!

Kucoin Shares are not typical coins - they're designed for people who want to trade more on the Kucoin cryptocurrency exchange, which is one of the most popular in the world. KCS is similar to the ERC20 technology that is popular with investors. It's easy to get KCS tokens on Kucoin, and our smart contract allows traders to receive 2% of the total trading volume converted into KCS daily. Some other ways our token holders can receive rewards are low trading fees and beneficial services.

Kucoin has raised $20M in the first round of funding, with IDGC and Matrix Partners being backing. The exchange sees this as an indication that investors are confident in their work and future.

Comparative analysis of FTX and Kucoin exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

FTX offers: 

  • Trade tokens with leverage, volatility tokens
  • Bets on events (political, sports) in the form of contracts
  • Trade in fiat currencies on the forex principle
  • OTC-trading

Kucoin offers:

  • Mining pool
  • IEO
  • NFT market

Available countries

FTX and Kucoin exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

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

Card Support

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

Available Cryptos and Tokens

FTX currently supports 526 trading pairs and 343 coins. 

While Kucoin supports 1265 trading pairs and 712 coins.

Verification (KYC)

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.

FTX is very serious about verifying the identities of its users. And if it is necessary to maximize limits and open access to all possible options, the address is also confirmed.

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

FTX:

  • On both the spot and futures markets, the same commission system applies. The maker pays 0.02% and the taker pays 0.07%.

Kucoin:

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

Owners of FTT 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

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.

FTX also pays a lot of attention to protecting user accounts from hacks. Clients can add two-factor authentication, set a separate password for withdrawals, and customize when 2FA should be requested. You can create custom logins for each individual sub-account and customize their level of control.

If suspicious activity is detected, both crypto-exchanges allow you to freeze your account to temporarily ban any transactions on it.

Passive earn on exchanges

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

FTX does not boast such a selection of options. You can make money here with stacking (FTT, SOL, SRM, RAY tokens) or margin lending.

Which to choose - FTX or Kucoin

The exchanges have only a few differences. FTX has lower commissions on futures. Kucoin has more choices for passive earning. Overall, the exchanges are very similar in their 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.

Is FTX a good exchange?

Absolutely. FTX has great functionality and is not inferior to the competition. FTX is among the top 10 futures exchanges by actual trading volume. FTX is actively focused on developing and attracting users.

Is FTX safe and legit?

FTX has long been registered and is completely legal. FTX has a high degree of protection: Two-factor authentication, suspicious activity tracking, IP whitelisting, white-listing wallet addresses, insurance fund.

How can I withdraw money from KuCoin to bank account?

Kucoin provides access for withdrawal to cards and wallets.

Conclusion

In quality and safety, exchanges are not inferior to one another, so the choice is a matter of nuances. When choosing a cryptocurrency exchange, pay attention to all of the above factors, the reliability of the exchange, as well as the parameters that are important to you. It may happen that just one attribute will be decisive. Both exchangers, which we have reviewed today, operate for a long time, and therefore only worthy of trust. Both Kucoin and FTX are developing along with the whole cryptocurrency sector, which is necessary for any company to stay afloat.

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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