KuCoin is a centralized cryptocurrency exchange (CEX). What differentiates it from other exchanges are services such as trading bots. In addition to serving as an exchange platform the platform offers other types of services.
Advantages and Disadvantages of Kucoin
KuCoin is a centralized platform (CEX) so the funds are managed and stored by this company. In addition, it is the platform itself who establishes the transaction fees, minimum purchase and exchange minimums and maximum cryptocurrency withdrawal minimums and maximums. Unlike decentralized platforms (DEX) the commissions and amounts can be modified if required by the board. In the same way follows its governance system and roadmap, as they are tied to decisions made by the company’s board.
One of the main characteristics of Kucoin is that it incorporates to its coin offering assets from recent projects that are not yet available in the catalog of the most popular exchanges such as Binance.
Among the services offered by KuCoin we find that we are allowed to perform from the platform:
- Spot trading
- P2P trading platform
- Derivatives (includes futures market with NFTs)
- Margin Trading
- Trading Bots
Advantages of Binance Kucoin:
- Low commissions. Commissions hover around 0.1%, with discounts if you pay with KCS.
- Binance Kucoin.
- Wide range of cryptocurrencies, in the platform you will find the newest cryptocurrencies.
- Secure and reliable,
- Ideal for spot new coins, Kucoin offers coins that other more popular Exchanges, such as Binance, do not have.
Disadvantages of Binance Kucoin:
- Difficulty in customer help, on certain occasions some users have reported complications in receiving help from customer support.
- Does not accept bank deposits
- Does not allow fiat transactions
- Low liquidity, some operations are not compatible with the services offered, such as the futures market