KuCoin vs. Coinbase: A Detailed Comparison [Updated 2023] | Coin Culture (2024)

KuCoin is a large global crypto trading platform with over 11 million users, while Coinbase is also a major exchange in the US. Both have great features, but how do they do in the Australian market? Which is better for Aussie investors and traders?

If you’re a skilled trader, KuCoin is the greater choice since you can benefit from its advanced features, such as free trading bots, futures, and margin trading. Meanwhile, KuCoin is not for crypto novices as it’s a bit complicated to use compared to its competitor Coinbase. However, Coinbase wasn’t created for the Australian market; thus, we wouldn’t recommend it. You cannot withdraw AUD from the exchange or sell cryptocurrency.

We would recommend you select among the top cryptocurrency exchanges in Australia. For instance, CoinSpot is a user-friendly exchange that offers more than 370 different coins, live chat support, and an NFT marketplace to serve the needs of customers of all levels worldwide.

But if you haven’t decided between KuCoin vs. Coinbase, keep reading this post to figure out their differences to make your informed decision.

Comparison Table

KuCoin Overview

KuCoin was established in August 2017 and offers over 200 cryptocurrencies and a wide range of crypto services, including margin and futures trading, a built-in P2P exchange, and others.

Pros

600+ cryptocurrencies supported

The large user base of over 11 million users worldwide

Low fees of 0.1% with a 20% discount for KCS payments

Mobile app available for iOS and Android

Advanced features such as margin and futures trading

Accepts credit cards and debit cards

Cons

KuCoin is not licensed in the United States.

Funds kept on the platform are not insured.

Coinbase Overview

The U.S-based crypto exchange Coinbase was established in 2012. As a big name in the crypto industry, Coinbase also offers users various services, including complex trading capabilities with Coinbase Pro. You can buy, sell, swap, and store different cryptocurrencies on Coinbase.

Pros

222+ cryptocurrencies supported

Simple and advanced trading tools are available.

Easy-to-use interface with good features

Insurance for your digital assets

Cons

It doesn’t support fiat deposits, and withdrawals

Complicated fee structure and higher fees

Poor customer service – no live chat support

Limited staking and interest opportunities

Supported Cryptocurrencies

Compared to other exchanges, KuCoin supports a wide range of cryptocurrencies, with over 600+. Both novice and seasoned investors can find almost any cryptocurrency they want to buy or trade on KuCoin. The platform also offers a Spotlight section that promotes new cryptocurrencies.

With Coinbase, you can only trade about 222 cryptocurrencies. The platform doesn’t seem to add many new digital assets to its list and focuses more on conventional coins like Bitcoin, Ethereum, and Cardano. Users of Coinbase Pro can trade more cryptocurrencies, but the supported altcoins are only limited to popular ones such as Bitcoin cash and Litecoin.

Winner: KuCoin

With a vast selection of more than 600 cryptocurrencies, KuCoin provides more than triple the number of coins that Coinbase does. This is an excellent feature for investors who want to spread the risk or diversify their portfolios by investing in a wide range of cryptocurrencies.

KuCoin vs. Coinbase Fees

KuCoin has a tiered maker/taker fee structure, with trading fees ranging between 0.0125 and 0.1% based on your tier level. In addition, the 1% trading fee is reduced by 20% when you pay using their native coin (KCS), which means that the fee is only 0.08%. KuCoin also imposes withdrawal fees, which vary per asset and are subject to change based on market performance. KuCoin accepts free deposits, but it currently offers limited fiat deposit options.

*All trading volumes are valued in Bitcoin

The fee structure on Coinbase is confusing and consists of margin or spread fees and Coinbase fees. Users have to pay either a flat fee or a variable fee per transaction, based on region, product, and payment method.

Flat fee

Variable fee

The withdrawal fees charged by Coinbase vary by region and payment method. Bank transfers ($0.15) and US wire transfers ($25) are the two most widely used fiat withdrawal options. Coinbase doesn’t support crypto sales in Singapore and Australia, so you cannot withdraw fiat money in those countries.

Winner: KuCoin

Most users prefer to use KuCoin as the crypto trading platform where they freely deposit coins into their accounts to trade digital assets. Here, they can enjoy the low trading fee of only 0.1%, which can be lowered to 0.08% via crypto payments.

Standout Features

KuCoin and Coinbase are both well-established, feature-rich cryptocurrency exchanges. In this comparison, we only cover the distinguishing characteristics of each platform.

KuCoin provides you with free trading bots to maximise your profits. You can access the Spot Grid Bot while using the desktop. To use the other bots, you must download KuCoin’sKuCoin’s mobile app, which is compatible with iOS and Android. It’s easy to program your bot to trade automatically on your behalf, and you can even replicate the specifications of the most successful bots.

KuCoin’s trading bots. Image: KuCoin

You can also borrow cryptocurrency on KuCoin. The process is quick and straightforward. You only need to select your desired coin, the amount to borrow, and the interest rate. If you maintain a large quantity of cryptocurrency for a long term, you can earn interest by lending it. You can decide which of over 600 coins to lend, the loan duration (7, 14, or 28 days), and the interest rate.

KuCoin enables futures trading with leverage of up to 100x. When trading futures, you have a choice between two interfaces. The first is Futures Lite, which is ideal for executing an immediate futures trade. Futures Pro, the second choice, offers comprehensive trading capabilities and up to 100x leverage.

Coinbase offers a unique way to earn cryptocurrency called Coinbase Earn. You get compensated in cryptocurrency for watching short videos on cryptocurrency! After monitoring each of these three-minute-long videos, you’ll receive cryptocurrency. For instance, if you’ve viewed three videos on Compound coin, you will receive $9 worth of COMP cryptocurrency.

Compound’s videos on Coinbase. Image: Coinbase

Coinbase Wallet app is available for download on mobile devices. It enables users to store cryptocurrencies, participate in airdrops and ICOs, exploredecentralised applications (DApps), and send and receive cryptocurrencies regardless of location. At the time of writing, Google Play had over 5 million downloads with a 3.4-star rating from 37K reviews.

Winner: KuCoin

Coinbase is not terrible in terms of features, but KuCoin has more to offer. KuCoin is suitable for experienced traders who favour advanced features such as trading bots, crypto borrowing, and futures trading.

KuCoin vs. Coinbase Security

Micro-withdrawal wallets, industry-level multilayer encryption, and dynamic multi-factor authentication are a few security measures KuCoin employs to protect its customers’ funds. The exchange also has internal risk control departments that regulate everyday transactions. In 2020, KuCoin was compromised, and $150 million was taken. But KuCoin responded swiftly by retrieving a significant percentage of the stolen funds and reimbursing the remainder. None of their users were affected by this security issue.

Coinbase operates in the United States, which has far more stringent regulation rules than other nations. Thus, it has several security measures, such as 2-factor authentication, biometric logins (fingerprint and face ID), and data encryption, with USB drives and paper backups geographically spread in safes and vaults worldwide. It maintains 98% of its digital assets offline in cold storage and has criminal insurance coverage to safeguard its digital assets from thefts.

Winner: Coinbase

KuCoin and Coinbase are both very safe cryptocurrency exchanges insured against security breaches. Coinbase wins because it has not been hacked and follows the strict rules and compliance norms of the United States.

Customer Service

KuCoin claims to offer various customer service options, but like many of its competitors, there is no direct phone or email support. However, customers can engage in a live chat to receive answers to simple inquiries or file a request for assistance with more complex concerns. KuCoin also has a support page that guides users in navigating the platform or using its tools and features. On Trustpilot, KuCoin generally obtains low ratings from its users, who report issues with customer service, the withdrawal procedure, and making deposits.

Meanwhile, Coinbase’s customer service is one of the major complaints from consumers. The official customer care channels for Coinbase include the help website, email support requests, an automated phone system, and a chatbot. Thus, it’s difficult to contact Coinbase’s support staff for assistance. On Trustpilot, several Coinbase complaints are about customer service, lost funds, and blocked accounts. Users made similar concerns about other rating websites.

Winner: Tie

KuCoin offers live chat, but Coinbase offers phone assistance. In general, the customer service of both exchanges is below par as it has received several negative reviews. If you want an exchange that offers great 24/7 customer support, we highly recommend CoinSpot Australia. You can read our CoinSpot review to know more about its features.

Overall Winner

Despite being among the leading cryptocurrency exchanges in the world. KuCoin and Coinbase still have significant distinctions:

• KuCoin is not licensed in the US, but Coinbase is licensed in the US.
• KuCoin supports 600+ cryptocurrencies, while Coinbase supports just 222+.
• Coinbase has higher trading fees than KuCoin.
• Coinbase has phone support, while KuCoin doesn’t offer this option.

KuCoin’s diversity of services, including trading bots, futures, margin trading, and crypto loans, makes it the superior option for Australian clients and experienced cryptocurrency traders. Even if Coinbase is more suitable for novices, we would not suggest it to Australians. Using Coinbase in Australia prevents you from accessing fundamental features, such as selling bitcoin and withdrawing AUD. If you are new to cryptocurrencies, we will go for CoinSpot because it offers most of the features of KuCoin and Coinbase, professional 24/7 customer support, an NFT marketplace, and other premium features services.

The following review is for informational purposes only and should not be construed as financial or investment advice. It is important to note that cryptocurrency is a highly volatile and speculative market, and there is no guarantee of profit or loss. This review is based on the author’s personal experience and research, and individual results may vary. The author is not affiliated with any of the exchanges mentioned in this review and does not receive compensation for their mention. It is recommended that readers conduct their own due diligence and consult with a financial advisor before making any investment decisions.

The information regarding performance may be different from the time of publication. Past performance does not guarantee future results. While we believe that all content was accurate at the time of posting, it is possible that some offers included in the content may no longer be valid.