KuCoin vs Bybit

KuCoin vs Bybit

Daniel Chan

July 18, 2022

Cryptocurrency

If you're looking for a crypto exchange that offers both variety and convenience, KuCoin and Bybit are two great options to consider. Both crypto platforms offer a wide range of coins that you can trade, in various markets. But which exchange is the better choice for you? To help you decide, let's take a closer look at KuCoin vs Bybit.

Bybit is a relatively new exchange, but it has quickly become one of the most popular crypto trading platforms around. One of the things that makes Bybit so popular is its user-friendly interface. The platform is designed with simplicity in mind, and even complete beginners will be able to navigate it with ease. Another big plus for Bybit is its advanced features, which include margin trading, derivatives, and more.

KuCoin, is one of the largest and most well-established cryptocurrency exchanges. KuCoin has a massive selection of coins and tokens available for trading, as well as a variety of advanced features, including free trading bots. The exchange is geared towards more experienced traders, but even beginners can find their way around with a little bit of help.

So, which exchange is better for you? Let's take a closer look at KuCoin and Bybit to find out.

Cell

Fiat Currencies

USD, AUD, EUR, GBP and many more

USD, EUR, GBP, RUB, CNY, AUD & 40+ more

Number of Coins

220+

600+

Trading Fees

Spot: 0.1%, Derivatives: 0.01% / 0.06%

0.1%

Deposit Methods

Cell
Cell

Bank Transfer

Google Pay

Fedwire

PayPal

Credit Card

Debit Card

Apple Pay

SWIFT

Skrill

SOFORT/iDEAL

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

ISO 27001 certified

Offline cold storage

Website

Cell

Fiat Currencies

USD, AUD, EUR, GBP and many more

USD, EUR, GBP, RUB, CNY, AUD & 40+ more

Number of Coins

220+

600+

Trading Fees

Spot: 0.1%, Derivatives: 0.01% / 0.06%

0.1%

Deposit Methods

Cell
Cell

Bank Transfer

Google Pay

Fedwire

PayPal

Credit Card

Debit Card

Apple Pay

SWIFT

Skrill

SOFORT/iDEAL

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

ISO 27001 certified

Offline cold storage

Website

Pros
  • 24/7 Live Chat support
  • Demo account to practise trading
  • Offers spot, margin, and derivatives trading
  • Copy Trading feature
  • NFT marketplace
Cons
  • 220+ coins is lower than KuCoin's range
  • Not available in the US
Pros
  • Large crypto exchange with over 11 million users worldwide
  • Extremely low fees of 0.1% with a further 20% discount if you pay with KCS
  • Crypto lending and borrowing
  • Over 600+ cryptocurrencies available
  • Additional features such as crypto lending, FREE trading bots, margin trading, futures trading
Cons
  • Cannot withdraw fiat currencies
  • Poor customer service - no live chat support

KuCoin vs Bybit Fees

As any seasoned investor knows, fees can make or break a trade. With margins often being razor-thin, even a small fee can eat into profits. For this reason, many traders carefully compare the fees of different exchanges before deciding where to trade. So, how do the fees on KuCoin and Bybit stack up?

On KuCoin, crypto deposits are free, while crypto withdrawal rates vary depending on the coin you're withdrawing, but they're generally reasonable. Since KuCoin doesn't support fiat currency deposits, the transaction costs associated with buying crypto will depend on the payment processor you use. Trading fees on KuCoin are just 0.1%, but you can get an even better deal by paying your trading fees in KCS. This entitles you to a 20% discount. Fiat withdrawals are not supported on KuCoin.

Unlike KuCoin, Bybit supports both crypto and fiat currency deposits, of which both are free. Crypto withdrawal fees are also very reasonable, and vary depending on the coin you're withdrawing. Fiat withdrawals are not supported on Bybit. Trading fees on Bybit are 0.1% for Spot traders, but Derivatives traders enjoy a much lower fee of just 0.01% for makers and 0.06% for takers.

Winner - Bybit

Bybit has the same fees as KuCoin for spot trading, and much lower derivatives trading fees. The other fees, such as deposit and withdrawals are similar, so Bybit wins this section overall.

KuCoin vs Bybit Deposit Methods

While KuCoin doesn't support fiat currency deposits, it offers a decent range of methods that customers can use to pay for their crypto. There is Visa/Mastercard and third-party merchants like IDEAL, Bankcontact, ApplePay, Giropay, SOFORT Banking and EPS.

When depositing funds into your Bybit account, you have a few different options. You can use QIWI or your credit/debit cards to make free fiat currency deposits. There's also a wide range of fiat getaway options that vary by location, so your preferred local payment method is most likely available.

Winner - Bybit

Bybit has a range of payment methods, as well as the ability to deposit three fiat currencies directly into your account (RUB, ARS, and BRL). You will likely find the option you want to use, when you sign up to Bybit.

KuCoin vs Bybit Features 

KuCoin Features:

KuCoin is one of the best crypto exchanges and it's easy to see why. With over 11 million users, and daily trading volume over $1.2 billion, it's one of the most popular exchanges available. Here are some of the features that make KuCoin stand out:

Margin, Spot, and Futures Trading

Trading on KuCoin offers a wide range of benefits for cryptocurrency investors. With 600 cryptocurrencies to choose from, you're sure to find the perfect match for your portfolio. Whether you're looking for high-flying altcoins or stable blue-chip coins, KuCoin has what you need. KuCoin also supports margin and futures trading.

Margin trading can be a great way to amplify your returns, but it can also be very risky. With KuCoin's margin trading feature, you can trade up to 14 different pairs with up to 5X leverage. Depending on your risk tolerance, you can trade with cross margin or isolated margin. 

Cross margin allows traders to use the full value of their account as collateral, while isolated margin only uses the funds borrowed for that specific trade as collateral. This means that if the trade goes against the trader, they will only lose the funds they borrowed rather than the full value of their account. KuCoin's margin trading feature is helpful for experienced traders looking to amplify their gains, but it is important to remember that it also increases risk.

If you're looking to get into futures trading, KuCoin has you covered, with over 60 perpetual contracts available for trading. You can also leverage up to 20x, giving you the potential to make some serious profits. And if you're new to futures trading, don't worry – KuCoin offers two different interfaces, Futures Lite and Futures Classic. Futures Lite is a simpler, easy-to-use interface ideal for beginners. But if you're looking for something more advanced, Futures Classic has all the tools and features you need, from charts and candles to indicators. 

P2P Marketplace

KuCoin also offers a Peer-to-Peer marketplace where you can trade directly with other users. This is a great option if you're looking for more control over your trades, as you can set your own prices and terms. The good thing is that you don't have to pay trading fees while trading on this marketplace.

Crypto Lending and Borrowing Feature

One feature that's unique to KuCoin is their Crypto Lending and Borrowing service. This allows you to lend your cryptocurrencies to other users on KuCoin for a period of time and earn interest on them. You can also borrow cryptocurrencies from other traders on the platform, though you will have to pay interest on the loan. The best thing about this service is that you have a lot of options, so you can always go for the best rate and preferred duration.

Trading Bots

Bots are increasingly being used on cryptocurrency exchanges, and KuCoin is no exception. Trading bots are software programs that automatically buy and sell assets to take advantage of market opportunities. By using bots, traders can free up their time and energy to focus on other aspects of their trading strategy. KuCoin offers free trading bots to traders looking to make the trading process easier. With a variety of bots available, you can choose the rules that best suit your trading style or customize them to your own preferences. You can also copy the configurations of other traders' bots to get started quickly.

KCS Token

The KCS token is KuCoin's native currency that was launched in 2017. KCS holders can enjoy several benefits, including a daily bonus with an estimated APR of 30% and a 20% discount on trading fees when paid using KCS.

Bybit Features:

Bybit is a new entrant to the derivatives market but has made significant inroads and is one of the best margin trading exchanges. This exchange boasts a trading volume of $9.45 billion daily and has around 2 million users. Created to simplify crypto derivatives trading and provide users with a more interactive experience, the platform’s user interface is sleek and easy to navigate, even for first-time users. Here are some of Bybit’s key features:

Spot and Spot Margin Trading

Bybit supports over 220+ different cryptocurrencies and trading pairs, making it one of the most comprehensive exchanges in the space. The exchange also allows traders to leverage their spot trades in what they call spot margin trading. Put simply, it's a way of trading cryptocurrencies with leverage, allowing you to magnify your gains (or losses) by up to 3x.

While KuCoin also offers margin trading with up to 3x leverage, the selection of assets is limited to just two trading pairs: BTC/USDT and ETH/USDT.

Derivatives Trading

Bybit has a specialized Derivatives Portal designed to provide users with the most efficient and user-friendly trading experience possible. This portal offers over 150 perpetual contracts ranging from Inverse Perpetual and Futures contracts, USDT Perpetual contracts, USDC Perpetual Contracts, and Options Contracts. These contracts use USDT or USDC as collateral, ensuring a stable and secure trading experience. With a variety of contract types available, users can tailor their trading strategies to suit their individual needs.

Testnet (Demo Trading)

Bybit Testnet is a simulated trading environment that allows users to test trading strategies and get a feel for the platform before trading with real money. The Testnet is identical to the live Bybit trading platform so users can be sure they are getting an accurate representation of how the platform works. The only difference is that it uses "Testnet coins" instead of real money, so it's a great way for new users to learn about cryptocurrency trading without putting money at risk. Experienced traders can also use the Testnet to test new strategies before using them in the live market. 

Reserve Pool

The Reserve Pool is Bybit's insurance fund that protects users against extreme price movements and provides liquidity in times of market stress. It is funded by a small percentage of each trade and is used to pay out liquidation orders. In other words, when the market crashes and people are getting margin called, the reserve pool pays out to those who got liquidated, so they don't have to take an extra loss. The reserve pool ensures that Bybit users will never worry about getting margin called in a crash.

Fast Trade Execution

Bybit's trading platform is designed for high-frequency traders. It features an ultra-fast matching engine that can handle 100,000 trades per second. Additionally, market data is pushed every 20 milliseconds, so you'll always be up-to-date with the latest market movements. And if system reliability is important to you, then you'll be pleased to know that the platform has a 99.99% uptime rating. 

Grid Bots

Bybit now allows traders to automate their trades with Grid Bots. Grid Bots place orders at set intervals above and below the current market price, creating a grid-like pattern. This allows traders to take advantage of market fluctuations without constantly monitoring the prices.

They can also be customized to fit the specific needs of each trader. For example, traders can choose the grid size, the number of orders, and the order type.

Copy Trader Feature

Bybit's Copy Trader Feature is an exciting new way to trade Bitcoin and other cryptocurrencies. With Copy Trader, you can automatically copy the trades of experienced traders on the platform. This is a great way to learn from the best and make profits without having to put in the hard work yourself. All you need to do is choose a trader to copy, set your investment amount, and then sit back and watch the profits roll in. 

The same principle works with the Grid Bots. You can copy the best-ranked bots' configurations and use them on your own trading account.

Winner - Bybit

 Bybit has an edge when it comes to features. It caters to traders of all experience levels, with a simple and easy-to-navigate interface for newbies and plenty of advanced features for more experienced users. Bybit offers spot, margin and derivatives trading, trading bots to automate trades and a copy trader feature.

KuCoin vs Bybit Security

For Bybit users to access their accounts, they must first pass multi-factor authentication, which includes verifying their identity with biometric information. In addition, all of Bybit's digital assets are stored in "cold wallets," which are not connected to the internet and therefore less vulnerable to hacking. They also use SSL encryption to protect all data on the platform. Finally, all withdrawal requests are subject to three levels of verifications and manual reviews. This ensures that all withdrawals are legitimate and that potential risks are identified and addressed promptly. To further protect traders' assets, they've also implemented a withdrawal limit of once every eight hours. This allows the security team at Bybit to closely monitor all withdrawals and ensure they are processed safely and securely.

These measures have kept the exchange safe so far, and no major hacks or security breaches have been reported.

KuCoin, however, has not been so lucky. In September of 2020, the exchange was hacked, and over $280 million worth of Bitcoin was stolen. While the KuCoin team reimbursed all affected users, the hack was a major black mark on the exchange's security record.

However, KuCoin has not let this deter them and have taken steps to improve their security. Some of these measures include implementing a mandatory KYC process for all withdrawals over a certain amount, and to gain access to some advanced features. KuCoin also requires all users to enable Two-Factor Authentication (2FA), and allows them to restrict login attempts to specific IP addresses. All KuCoin accounts have an anti-phishing security function that allows users to set a security anti-phishing safety phrase. KuCoin also has a dedicated Internal Risk Control Department tasked with ensuring the platform's safety and security. This department is responsible for conducting regular audits of the systems and procedures and investigating any suspicious activity. In addition, the Internal Risk Control Department works closely with law enforcement agencies to ensure that KuCoin is in compliance with all applicable laws and regulations. 

Winner - Bybit

Bybit is the clear winner when it comes to security. It has never been hacked, and its cold storage solution is a plus. KuCoin does not offer cold storage for all of its assets, opting instead for a hot wallet/cold wallet hybrid model. This means that some assets are stored offline, but others are kept online and are therefore more vulnerable to attacks. Given the importance of security in the crypto world, Bybit is the obvious choice for those looking to trade safely and securely.

Number of Cryptocurrencies

One important consideration when choosing the best crypto exchange is the number of coins available for trading.  

If you want more options and variety, then KuCoin is the way to go. With over 600+ different cryptocurrencies to trade, you'll have plenty to choose from. If you're interested in perpetual contracts, they have 60 of those. 

On the other hand, Bybit is a bit more limited in terms of the choice of coins. The exchange offers 220+ cryptocurrencies to trade.  However, it does have more than 150+ perpetual contracts available. 

Winner - KuCoin

KuCoin almost always wins any comparison of cryptocurrencies, as its huge range of more than 600+ coins is one of the largest collections of any crypto platform. It easily wins here against Bybit.

Verdict - Bybit

If we were to pick a winner in this KuCoin vs Bybit comparison, it would have to be Bybit. The exchange offers a more secure platform for trading cryptocurrencies and provides its users with several handy features and tools. The platform caters to both beginner and experienced traders, making it the perfect choice for those looking to get started in the world of crypto trading.

When it comes to customer support, Bybit has a clear advantage. Not only do they offer a ticketing system, but they also have a 24/7 live chat in place. This means that you can get help anytime, day or night. KuCoin, on the other hand, only offers a ticketing system, which can be frustrating if you need help outside of business hours.

However, KuCoin is still a great option for those looking for a comprehensive crypto trading experience. The platform's wide range of 600+ cryptocurrencies and trading pairs make it a great choice for those looking to trade a variety of digital assets. It also has unique features like crypto lending and borrowing, making it a great choice for those looking to get the most out of their trading experience.

Overall Winner - Bybit

Bybit offers an extremely secure platform, with low trading fees, 220+ coins, 24/7 Live Chat, and advanced features, that most traders will enjoy.

Still Researching?

If you want to read more about these two crypto exchanges, read our detailed reviews of KuCoin (here) and Bybit (here). If you are from the US, you won't be able to access Bybit, but you can take a look at the best crypto exchanges in the US. There is also a quick comparison table below that summarizes some key info.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
Pionex
Coinmama
Gemini
Uphold
Crypto.com
Crypto Exchange
Crypto Exchange
eToro
Pionex
Coinmama
Gemini
Uphold
Crypto.com
Fiat Currencies
Fiat Currencies
USD
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, AUD, CAD, EUR, GBP, SGD, HKD
USD, GBP, EUR, CHF, AUD, JPY & 21 more
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY & 10+ more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, BCH, DOGE & 90+ more
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
BTC, ETH, LTC, XRP, CRO, ADA, DOT, SOL, DOGE & 250+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank transfer (ACH), Debit card, Wire Transfer, Cryptocurrency
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Bank Transfer (ACH), BPAY, SEPA, Credit/Debit card, PayPal, TransferWise, Fedwire, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.05%
2.93% - 3.90% (depending on loyalty level)
From 0.25% (maker) and 0.35% (taker)
Fees included in the spread
Exchange: from 0.4%, App: Free (included in spread)

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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