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Launched a year apart, Bybit and KuCoin are two of the most interesting cryptocurrency exchanges in the industry. Both platforms have a high significance in the crypto market, thanks to the impressive features they offer to users.
If you want to opt for one of these and determine which is the most suitable for you, then you should take a look at our detailed comparison below.
Bybit vs KuCoin – A Brief Introduction
Bybit was founded in 2018 and has grown to become one of the topmost trading platforms in the trading community. The co-founders and other team members working behind the exchange are quite an impressive group. This is considered to be one of several reasons for its outstanding growth and success.
KuCoin was established in 2017 and is one of the most versatile exchanges in the market. The list of features it offers has been expanding with time, making it an innovative trading platform for interested parties.
A common aspect of both exchanges is that they do not extend their services to the United States of America, due to strict regulatory laws in the country. Therefore, U.S. residents looking to buy or trade crypto should search for one that is available in their region.
Bybit vs KuCoin – Comparison of Trading Features
Bybit is a powerful trading platform that offers several impressive features for traders. It supports margin and futures trading and extends these features to more than 1.6 million active users.
One of the biggest selling points of the Bybit exchange is that it makes crypto trading easier for all traders, new and experienced alike, thanks to its newly launched copy trading feature. With the help of this feature, traders can choose an experienced trader from a carefully formed list and automatically mimic their trading strategies.
The KuCoin exchange also supports futures and margin trading. It enables its users to make use of the free trading bot. This bot can be given instructions, regarding the types of trades you want to make and the trades are automatically executed.
However, KuCoin does not offer any features that can make trading easier for beginners.
Another common attribute of the two is that both exchanges offer up to 100x leverage to margin traders.
Bybit allows you to leverage trade Bitcoin; by signing up with our link and making your first deposit, you can receive up to a $4,450 bonus! (Bonus may vary based on deposit amount)
Bybit vs KuCoin – Comparison of Security Systems
Exploring the level of security offered by any exchange should be the priority of every investor and trader. Choosing a secure exchange may not eliminate the threats posed by the crypto space but it can mitigate them to a great extent.
Both Bybit and KuCoin take the security of their users very seriously and implement leading-edge security protocols such as cold storage wallets and more.
However, one major difference between the two, is that Bybit has never been hacked, whereas KuCoin suffered from one of the largest-ever crypto hacks in 2020 and lost $281 million.
Bybit vs KuCoin – Comparing Fee Structures
Just as the security offered is an important attribute to look at, so is the fee structure of every exchange you consider choosing. The platform you opt for buying or trading crypto needs to have a fair and transparent fee structure.
The fees charged by both Bybit and KuCoin are transparent and some of the most competitive in the industry.
The details of the fee charged by Bybit are:
- 0.075% trading fee for market takers
- -0.025% trading fee for market makers
- 0.02% / -0.02% funding rate
- 0.0005 BTC withdrawal fee
The details of the fee charged by KuCoin are:
- 0.1% fee per trade for futures trading
- 0.09% to 0.03% market maker fee for VIP users
- 0.1% to 0.07% market taker fee for VIP users
- 0.0005 BTC withdrawal fee
Bybit vs KuCoin – Comparing Customer Support Services
Once again, Bybit and KuCoin are similar in terms of customer support services as well. Both exchanges offer around-the-clock customer support services and have teams comprised of experienced customer support agents. Both platforms also support a live chat feature, which enables users to quickly reach out to customer support agents and get assistance without any delays.
While the customer support services provided by Bybit and KuCoin are more or less the same, the services offered by Bybit have far better reviews from the crypto community.
Bybit vs KuCoin Conclusion!
The basic features offered by each crypto exchange are more or less the same but may vary when it comes to technicalities, as is the case with fee structures of different exchanges. To identify the most suitable exchange to use, it is good practice to compare the available options. Similarly, the Bybit vs KuCoin comparison above sheds light on all the major attributes of the exchange. While some of their features are similar, the Bybit exchange does offer more safety and better customer support, among other things.
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