KuCoin vs MEXC

KuCoin vs MEXC

Robert McDougall 

February 5, 2024

Cryptocurrency

If you're in the market for a new cryptocurrency exchange, you might be weighing the pros and cons of KuCoin and MEXC. Both exchanges have their own unique features and advantages, so it's essential to compare them to make an informed choice.

KuCoin is a globally recognized exchange that offers a vast selection of 700+ cryptocurrencies. Established in 2017, it has garnered a dedicated user base among crypto enthusiasts. KuCoin stands out for its low fees, with spot trading costing just 0.1% and futures trading at 0.02/0.06%. The exchange is known for its speedy trade executions, robust security measures, and an extensive range of available cryptocurrencies.

MEXC is another well-known exchange that has been operational since 2018. MEXC has a huge range of 1,520 coins, even more than KuCoin. It also has zero fees for some spot trading pairs, 0.1% for other spot trading pairs, and 0.01/0.05% for futures.

So, which exchange is right for you?

Cell

Fiat Currencies

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

USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more

Number of Coins

700+

1,520+

Trading Fees

0.1% for spot, 0.02/0.06% for futures

0.0% for spot, 0.0/0.01% for futures

Deposit Methods

Cell
Cell

Bank Transfer

Google Pay

Fedwire

PayPal

Credit Card

Debit Card

Apple Pay

SWIFT

Skrill

SOFORT/iDEAL

Cryptocurrency

Features

Cell
Cell

Beginner-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

ISO 27001 certified

Offline cold storage

Website

Cell

Fiat Currencies

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

USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more

Number of Coins

700+

1,520+

Trading Fees

0.1% for spot, 0.02/0.06% for futures

0.0% for spot, 0.0/0.01% for futures

Deposit Methods

Cell
Cell

Bank Transfer

Google Pay

Fedwire

PayPal

Credit Card

Debit Card

Apple Pay

SWIFT

Skrill

SOFORT/iDEAL

Cryptocurrency

Features

Cell
Cell

Beginner-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

ISO 27001 certified

Offline cold storage

Website

Pros
  • Supports 700+ cryptocurrencies
  • Offers P2P and NFT marketplaces
  • Supports spot, futures and margin trading
  • Trade automation with trading bots
Cons
  • No live chat support
Pros
  • Supports 1,520+ cryptocurrencies
  • Supports margin, spot, and futures trading
  • Lower fees
  • Offers leveraged and index ETFs
Cons
  • Not as well-known as KuCoin

KuCoin vs. MEXC: Fees & Deposit Methods

Deposit Fees:

Neither of these two platforms support fiat currency deposits, but users can either deposit cryptocurrency or buy crypto using third-party payment merchants or on the P2P marketplace.

KuCoin supports Visa/Mastercard, Apple Pay, bank transfer, Skrill, and PayPal, for crypto purchases, while MEXC only supports Visa/Mastercard, Apple Pay, Google Pay, and bank transfers.

Crypto deposits are free for both exchanges, and the same goes for buying crypto on the P2P marketplace.

When you purchase crypto directly on KuCoin or MEXC, you will be charged a fee by a third-party payment merchant, such as Banxa and Simplex. The fees they charge usually range from 3-5%, depending on payment method.

Trading Fees:

On KuCoin, the fees for spot trading are 0.1% and for futures trading they are 0.02/0.06% (maker/taker). If you pay fees using the native coin KCS, you receive 20% discount on fees. You can also reduce your fees if you have high trading volume over the previous 30 days.

When you trade on MEXC, the fee for spot trading is 0% for makers and takers. Futures trading fee is free for makers and 0.01% for takers. These fees are the lowest of any crypto trading platform.

Winner - MEXC

MEXC wins this section on fees, as they have zero fees for some spot trading pairs, and also have lower futures trading fees. Additionally, you can receive a 10% discount forever, just by signing up with our link.

KuCoin vs. MEXC: Features

KuCoin and MEXC are well-rounded exchanges with a lot to offer. Let's look at what each exchange does best.

KuCoin's Features

Trading Markets

KuCoin caters to the demands of advanced traders with a vast array of trading pairs, diverse markets, and advanced charting tools. The platform boasts an extensive list of over 700 cryptocurrencies, emphasizing quality over quantity, including top-tier assets like Bitcoin, Ethereum, Litecoin, XRP, and more.

For those inclined toward margin trading, KuCoin offers 14 different pairs for margin traders, with two distinct types of margin trades available: cross-margin trades and isolated margin trades. Cross-margin trades come with a maximum leverage of 5x, while isolated margin trades offer a maximum leverage of 10x. Additionally, KuCoin provides a crypto borrowing and lending feature to support margin trading. Lenders earn interest by lending out their holdings, while borrowers gain access to the coins they need at their preferred interest rates and duration.

Futures trading is another option for traders on KuCoin, with over 240 futures contracts available, offering leverage of up to 20x. The platform offers two distinct futures interfaces: Futures Classic and Futures Lite. The former is designed for experienced traders comfortable with complex order types and advanced charting tools, while the latter is more user-friendly and suited for beginners.

Marketplaces

KuCoin offers a P2P marketplace where users can engage in cryptocurrency buying, selling, and trading. This feature comes with the benefit of free trades and supports the most popular cryptocurrencies, including BTC, ETH, USDT, USDC, and KCS. However, it's worth noting that only these five cryptocurrencies are currently supported on the P2P marketplace. Nevertheless, the platform serves as an excellent option for those seeking a convenient and straightforward way to trade cryptocurrencies.

KuCoin also provides a comprehensive solution for users interested in buying, selling, and swapping NFTs (Non-Fungible Tokens). The NFT marketplace is divided into two segments:

  1. Fractional NFTs: Here, users have the opportunity to trade fractions of their NFTs, increasing accessibility and liquidity.
  2. Wonderland: This section allows users to create and participate in games that utilize NFTs as in-game assets, further expanding the utility and integration of NFTs within the platform.

Advanced Trading Features

For users seeking to elevate their trading experience, KuCoin provides a suite of advanced tools designed to enhance their trading strategies and decision-making process.

  1. Order Book: KuCoin offers an order book that allows users to monitor market demand and supply dynamics, enabling them to make more informed trading decisions.
  2. Order Types: The platform supports various order types, including market orders, limit orders, and stop-limit orders, providing traders with greater control and flexibility over their trades.
  3. Technical Analysis: KuCoin provides access to essential technical analysis tools such as indicators and candlestick charts. These tools assist traders in analyzing price movements and identifying potential trading opportunities. The charting software is powered by TradingView, ensuring accuracy and reliability.
  4. Fast Order Execution: With fast and efficient order execution, KuCoin ensures that traders can execute their orders swiftly and without delays, allowing them to react to market changes promptly.
  5. Trading Bots: KuCoin offers trading bots that can automate trading strategies, enabling users to execute trades more efficiently and consistently. These bots are available for free and can be customized to align with individual trading preferences and goals.

KCS

Like many crypto exchanges nowadays, KuCoin has its own native currency, called KuCoin Shares (KCS). KCS holders enjoy several benefits, such as reduced trading fees (20% discount) and receive a portion of the platform's daily trading volume as a reward.

KuCoin Earn

KuCoin Earn is the perfect platform for those who want to increase the value of their holdings without having to put in a lot of effort. With KuCoin Earn, users can choose from a variety of financial products to suit their needs, whether it's through staking, taking advantage of flexible savings rates, or investing in Polkadot or ETH2.0. With both fixed and flexible terms available, users can find the perfect solution for their needs.

KuCoin Wallet

KuCoin Wallet has rapidly emerged as the preferred choice for NFT enthusiasts and collectors. Offering a comprehensive solution for NFT-related activities, the KuCoin Wallet streamlines the process of purchasing, storing, and trading NFTs, while also facilitating lending, content publishing, and gaming within the NFT ecosystem.

One standout feature of the KuCoin Wallet is its self-custody functionality. This means that users have full control over their private keys, in contrast to many other wallets that store private keys on centralized servers. The wallet's cutting-edge security measures have been validated through a recent penetration testing audit conducted by Hacken, affirming its safety and reliability.

Furthermore, KuCoin Wallet presents enticing opportunities for its users. A generous prize pool of 50,000 USDT is available to those holding a minimum of 1,000 USDT. Additionally, the platform offers an ambassador program with incentives of up to 10,000 USDT per month, providing users with attractive rewards for their active participation.

MEXC Features

MEXC is a feature-rich crypto exchange platform that allows users to trade digital assets conveniently, and here are some of the features that make it stand out:

Beginner-friendly platform

Navigating the complexities of a diversified financial portfolio can be a challenging endeavor, even for seasoned investors. For newcomers, it may appear to be an insurmountable task. However, the MEXC exchange platform is tailored to make cryptocurrency trading accessible to everyone. The platform prioritizes user-friendliness, offering an intuitive interface that simplifies navigation. Beginners can take advantage of a demo account, enabling them to practice trading without exposing themselves to real financial risk. Should you encounter any difficulties, responsive customer support is readily available via live chat. Furthermore, a comprehensive guide replete with tutorials is provided to meticulously guide you through each step of the trading process.

Advanced Trading Markets

MEXC offers a variety of trading options to meet the needs of all kinds of investors. There are over 1,520+ coins and 2,110+ trading pairs available. You can spot trade, trade futures, or margin trade, whichever you desire.

MEXC has one of the largest selections of assets available for margin trading. Both auto and normal margin trading are available, allowing users to choose what works best for them. Up to 10x leverage is also offered, allowing users to maximize their profits.

For those looking to earn interest on their holdings, crypto lending and borrowing is also available on MEXC.

MEXC offers over 100 USDT-M and COIN-M perpetual trading contracts for futures trading. USDT-M perpetual contracts are collateralized by USDT, while the underlying coin collateralizes COIN-M perpetual contracts. You can trade with up to 125x leverage, and the platform provides a variety of tools to help you manage your risk.

Trading Tools

MEXC's advanced trading tools empower users with the essential information and resources necessary to make well-informed trading decisions. Regular email updates ensure that users stay informed about the latest market developments and alterations. The order book offers an intricate perspective on prevailing prices and bids. The trade calculator serves as a valuable asset for assessing potential gains and losses from a trade, while the high-speed trade execution guarantees that users can capitalize on prevailing market conditions. Moreover, traders can seamlessly switch between original, pro, and depth chart views to gain enhanced insights into market dynamics and perform in-depth analysis.

Quantitative Trading

MEXC caters to traders who prefer a hands-off trading approach by offering an automated trading system. This system can be utilized to trade a diverse range of digital assets. Quantitative Trading, a complimentary trading tool, streamlines the trading process by automating trade executions and enhancing profit margins. To leverage Quantitative Trading, users must initially configure a spot grid and define the price range within which they are comfortable buying or selling. Additionally, they can specify the number of grids they wish to trade on and the investment amount.

Once the parameters are established, the Quantitative Trading system will autonomously execute trades in accordance with the user's predefined settings. This feature enables traders to swiftly and efficiently capitalize on market opportunities, eliminating the need for manual monitoring and order placement.

ETF Trading

MEXC introduces leveraged and index ETFs, enhancing its offerings for traders. These ETFs function as investment vehicles that track the performance of specific indices or assets. Leveraged ETFs are particularly noteworthy as they provide investors with amplified exposure to an underlying asset by applying a multiplier. For instance, a leverage ratio of two signifies that if the underlying asset's value increases by one percent, the ETF will exhibit a two percent increase.

On the other hand, index ETFs are designed to mirror the performance of a designated index, enabling investors to gain exposure to a particular market or sector without the need to select individual stocks.

Traders looking to engage with ETFs on MEXC will have access to leveraged ETFs featuring leverage ratios of up to 5x, as well as index ETFs. Leveraged ETFs offer the convenience of one-click position opening, free from margin requirements and liquidation risks. Furthermore, profits are automatically compounded. MEXC also provides risk control features to safeguard accounts from excessive losses.

Regarding index ETFs, MEXC offers nine different spot tokens, granting traders access to a diverse array of assets. With robust market liquidity, users can expect fair pricing when executing their trades.

MX Token

MX Token is the native token of MEXC Exchange that offers holders several benefits. MX can be used to pay for trading and transaction fees, project listing voting participation, and MX DeFi mining. It also offers airdrop bonuses for MEXC users and traders and gives them access to exclusive events within the platform. For instance, the MEXC Launchpad provides users the opportunity to invest in high-quality projects.

MX holders also have priority when it comes to investing in new projects listed on MEXC and receive discounts on trading fees. Beyond the MEXC platform, MX can be used on other DeFi applications built on Ethereum.

Staking

MEXC presents a diverse range of staking products designed to cater to the preferences of various investors. With a selection of over 30 tokens available for staking, users have ample choices.

For those who prefer a more passive approach to staking, MEXC provides locked staking products offering competitive interest rates, some reaching as high as 22% Annual Percentage Yield (APY). These locked staking options allow investors to commit their assets for a specified duration in exchange for attractive returns.

Alternatively, MEXC offers flexible staking products that provide greater liquidity and convenience. With flexible staking, users can redeem their staked tokens at any time, providing them with the flexibility to adjust their strategies according to market conditions and personal preferences.

Copy Trading

The copy trading feature on MEXC is a great way to find successful traders and mimic their strategies. The platform ranks traders by ROI, PNL, Win rate, Equity, and Number of followers, so you can easily find the most successful ones. Once you've found a trader you want to copy, simply click on their profile and hit "Copy." You can then adjust the amount of money you want to invest, set your stop loss, and take profit levels. The copied trade will then be executed in your account automatically.

Winner -MEXC

Both exchanges offer a range of features, but we have to go with MEXC here. There is copy trading and demo trading which are unavailable on KuCoin, as well as up to 125x leverage.

KuCoin vs. MEXC: Security

Cryptocurrency exchange security breaches can have dire consequences, impacting not only the exchange but also its users. KuCoin faced a significant hack in September 2020, during which more than $150 million worth of Bitcoin and other cryptocurrencies were stolen. While this incident served as a test of KuCoin's security protocols, the exchange has remained committed to assuring its users about the safety of their platform.

KuCoin has implemented several security measures to bolster its defenses, including:

  • 2FA and IP Restriction for login attempts
  • Requiring KYC verification for higher withdrawals
  • Anti-phishing security
  • An internal risk control department is responsible for monitoring all exchange activity and identifying potential threats
  • An insurance fund that covers user losses in the event of a hack

In contrast, MEXC has maintained a spotless record when it comes to security breaches, making it a highly regarded and secure exchange. MEXC employs military-grade security protocols and stores all user funds in cold wallets equipped with multi-signature protection. Some of their notable security measures encompass:

  • Two-factor authentication
  • Whitelisting of withdrawal addresses
  • Mandatory KYC verification
  • Anti-phishing security measures

Winner - MEXC

Both of these platforms have great security measures in place to protect users' funds and data. However, MEXC has a slight edge due to its past track record and the fact that it's never been hacked. It sends constant reminders to users to set an anti-phishing code, and unlike on KuCoin, where 2FA is optional, it's mandatory on MEXC.

KuCoin vs. MEXC: Number of Cryptocurrencies

KuCoin has more than 700+ cryptocurrencies on offer, which is an impressive number.

MEXC offers an even larger range, with more than 1,520+ coins, across 2,110+ trading pairs.

Winner - MEXC

MEXC offers one of the largest variety of cryptocurrencies we have ever seen on a crypto exchange, and an enormous number of trading pairs.

KuCoin vs. MEXC: Summary

KuCoin is a great cryptocurrency exchange platform with some great features experienced traders will love. They also have an impressive selection of cryptocurrencies and trading pairs, giving users plenty of options. The fees are slightly lower than on MEXC, making it a great option for those looking to trade frequently. 

However, MEXC is a more comprehensive crypto exchange with lower fees. It offers 1,520+ coins, and plenty of features that cater to traders of all experience levels. Some of these include spot trading, futures contracts, leverage of up to 200x, copy trading, demo trading, and staking. If you want to sign up to MEXC, use our link here, to receive $30 FREE USDT.

Overall Winner - MEXC

MEXC offers a ton of features, massive range of coins, a responsive customer support team, and high levels of security.

Still Researching?

To do more research before signing up to either of these platforms, you can read my KuCoin review (here) and MEXC review (here). You can also read this article on the top cryptocurrency exchanges in the US. I have also included a quick comparison table below that summarizes some key info.

Comparison Table of the Best Crypto Exchanges in the USA

MEXC
eToro
Uphold
Coinmama
Crypto.com
Crypto Exchange
Crypto Exchange
MEXC
eToro
Uphold
Coinmama
Crypto.com
Fiat Currencies
Fiat Currencies
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD
USD, GBP, EUR, CHF, AUD, JPY & 21 more
USD, EUR, AUD, CAD, GBP, JPY
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY & 10+ more
Cryptocurrencies
Cryptocurrencies
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, BCH, DASH, LTC, ETC & 75 more
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, LTC, XRP, CRO, ADA, DOT, SOL, DOGE & 250+ more
Deposit Methods
Deposit Methods
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
PayPal, Debit card, Wire transfer
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank Transfer (ACH), BPAY, SEPA, Credit/Debit card, PayPal, TransferWise, Fedwire, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
0% for spot, 0.0%/0.01% for futures
1%
Fees included in the spread
2.93% - 3.90% (depending on loyalty level)
Included in spread

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

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