Bybit Vs Kucoin: Features, Trading Fees, & Solvency

Bybit is a derivative cryptocurrency exchange, whereas kucoin offers more trading pairs and a diverse range of low-cap digital assets.

When it comes to cryptocurrency trading, choosing the right exchange is crucial. With so many options on the market, it can be overwhelming to determine which platform is the best fit for your needs.

In this blog post, we’ll be taking a deep dive into two popular exchanges – Bybit vs KuCoin – and comparing their features, trading fees, and solvency.

From trading options and user interface to security measures and regulatory compliance, we’ll break down everything you need to know to make an informed decision.

Let’s get Started!

Bybit Vs Kucoin: Key Specifications

Here is the comparison between “Bybit vs Kucoin” based on some key similarities and differences-

FeatureBybitKucoin
Launched Date20182017
SituatedSeychellesHong Kong
FoundersBen Zhou, Duan XinxingMichael Gan, Eric Don
Solvency (TVL)$2.56 billion$2.39 billion
LiquidityHighHigh
Fiat CurrenciesUSD, EUR, JPY, KRW, and many moreUSD, EUR, KRW, CNY, JPY, and 40+ more
Payment MethodsCrypto, Paypal, credit cardsCrypto, Credit/debit card
Trading Fees0.025% (Maker), 0.075% (Taker)0.1% (Maker), 0.1% (Taker)
No. of Supported Cryptocurrencies344+700+
Bybit vs Kucoin/ Market source: Coinmarketcap

Bybit Vs Kucoin: The Ultimate Comparison

History and Background

Bybit was founded in 2018 by Ben Zhou and Duan Xinxing and is based in Seychelles. The company has quickly gained popularity among traders, reaching a daily trading volume of over $2.3 billion in 2023.

KuCoin, on the other hand, was founded in 2017 by Michael Gan and Eric Don and is based in Hong Kong. The exchange quickly gained popularity among traders and has a daily trading volume of over $1.6 billion in 2023.

Both Bybit and KuCoin have a strong reputation in the crypto trading community and have been consistently growing in popularity over the years.

While Bybit has a stronger focus on futures and margin trading and offers advanced trading bots and a greater variety of order types. KuCoin has more supported currencies and more payment methods.

Both exchanges have good customer support and a user-friendly interface.

Platform Features

Bybit and Kucoin both offer Spot and futures trading, which allows traders to speculate on the future price of cryptocurrencies. Additionally, Both crypto exchanges offer margin trading, allowing users to trade with leverage up to 100x.

In terms of trading bots and copy trading, both exchanges offer trading bots, which allow traders to automate their trades based on pre-set rules.

However, Bybit has more advanced options for trading bots, including the ability to use custom scripts and the option to backtest strategies before implementing them. KuCoin also offers copy trading, which allows users to copy the trades of experienced traders.

Bybit also offers a greater variety of order types, including limit, market, stop-market, and stop-limit orders. KuCoin also has a good variety of order types, but not as many as Bybit.

Trading Fees

Bybit charges a trading fee of 0.025% for maker orders and 0.075% for taker orders. There is also an overnight funding fee for positions held overnight, which varies based on the cryptocurrency being traded.

KuCoin charges a trading fee of 0.1% for both maker and taker orders. They also charge a withdrawal fee for each cryptocurrency, which varies depending on the coin.

Both exchanges have a relatively low trading fee structure, which is competitive with other exchanges on the market. However, KuCoin has a flat trading fee of 0.1% for both maker and taker orders, while Bybit has a slightly lower fee for maker orders and a slightly higher fee for taker orders.

In terms of deposit fees, both exchanges have no deposit fee, making it easy for users to fund their accounts.

Note: Trading Fees change with an increase in 30-day trading volume and user’s tier of trading.

Payment Methods

When comparing Bybit and KuCoin based on payment methods supported, it’s clear that Bybit offers a wider variety of options.

Bybit supports more than 10 payment methods for P2P trade, including debit cards, credit cards, in-person cash payments, and more. This makes it easy for users to fund their accounts and trade on the platform.

KuCoin, on the other hand, only supports Visa and MasterCard credit, debit, and prepaid cards that support 3D Secure (3DS). While this is still a convenient option for many users, it’s less flexible than the variety of options offered by Bybit.

Both Exchanges support deposits and withdrawals on many third-party payment services including Moonpay, Google pay, and Apple pay.

Security

In terms of security measures, “Bybit vs Kucoin”, both platforms have implemented several features to protect users’ assets.

  • Two-factor authentication (2FA) for account login and withdrawal
  • SSL encryption to protect user data and transactions
  • Cold storage for the majority of funds to prevent hacking attempts
  • 24/7 monitoring of the platform to detect and prevent suspicious activity
  • Email notifications for login attempts and withdrawals
  • Withdrawal address whitelist to add an extra layer of security
  • Anti-phishing code for user account protection
  • Google Authenticator for account login

Solvent

Solvency, in the context of cryptocurrency exchanges, refers to the ability of the platform to pay out its users’ assets in case of an emergency or a run on the platform.

The solvency of an exchange can be determined by the amount of user-backed assets the exchange holds in reserve.

Bybit publicly discloses its solvency information. It is possible to determine the exact amount of user-backed assets the platform holds in reserve using on-chain data analysis tools.

Currently, Bybit is 100% solvent by holding $2.56 billion in reserve assets. (Source: Nansen)

Bybit exchange solvency
Bybit TVL

KuCoin regularly publishes its solvency reports, which show the amount of user-backed assets the platform holds in reserve. According to the most recent report, KuCoin holds approximately 120% of user-backed assets in reserve, which is considered a very high level of solvency.

Currently, Kucoin Holds 2.39 Billion dollars in reserve assets including USDT, Bitcoin, Ethereum, USDC, and many other Altcoins.

Kucoin Solvency
Kucoin TVL (Source: Nansen, verified by Defillama)

Number of Supported Cryptocurrencies

Bybit supports more than 344+ cryptocurrencies and 500+ different trading pairs in Spot and futures trading.

Kucoin is known for its low Cap crypto support and launching of ICOs, on its platform. It currently supports more than 700+ digital assets.

Some popular cryptocurrencies supported on both platforms are-

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • EOS (EOS)
  • Bitcoin Cash (BCH)
  • Chainlink (LINK)
  • Tether (USDT)
  • Binance Coin (BNB)
  • Cardano (ADA)

User Experience and Customer support

Bybit offers a user-friendly interface that is easy to navigate. The trading platform is simple and easy to use, making it suitable for both novice and experienced traders.

The exchange also offers a live customer support service and a comprehensive FAQ section on the website.

Kucoin also has an excellent user experience. It includes elements such as ease of use, the user-friendly design and layout of the platform, and the availability of customer support through Chat, email, and social media platforms.

Bybit Review

Bybit exchange

Bybit is known for its high-speed trading engine and user-friendly interface. It offers a variety of trading tools such as stop-loss and take-profit orders to help traders manage their positions.

Bybit also offers 24/7 customer support and has a mobile app for trading on the go. One important feature is that it offers up to 100x leverage on some trades, which means that traders can make larger trades with a smaller amount of capital.

Overall, It is a popular choice among traders looking for a fast and reliable platform to trade cryptocurrencies.

Must Read: Bybit Vs Binance: The Ultimate crypto Exchange Comparison

Key Features of Bybit Crypto Exchange

Bybit is a cryptocurrency derivatives exchange that offers several key features, including:

  • High leverage options: Bybit offers leverage of up to 100x on its perpetual contracts, allowing traders to potentially amplify their returns.
  • Fast execution: The exchange uses a high-speed matching engine that can process up to 100,000 trades per second, ensuring that orders are executed quickly and efficiently.
  • Advanced order types: Bybit offers a variety of order types, including limit, market, and stop-limit, as well as a trailing stop-loss feature.
  • Strong security: Bybit employs multiple layers of security to protect user assets, including SSL encryption, multi-signature wallets, and cold storage.
  • 24/7 customer support: The exchange offers customer support around the clock, allowing users to get help whenever they need it.
  • User-friendly interface: Bybit has a user-friendly interface that makes it easy for new users to navigate and understand the platform.
  • Available in multiple languages: Bybit platform is available in various languages including English, Chinese, Korean, and Spanish.
  • High liquidity: The exchange has high liquidity, which ensures that traders can execute trades quickly and with minimal slippage.

Bybit Staking and Earn

Bybit Staking and Earn is a program that allows users to earn rewards by holding and staking certain cryptocurrencies on the Bybit exchange. The program is designed to incentivize users to hold their assets on the exchange for a longer period. It allows them to earn passive income in the form of interest APY on their staked assets.

The staking program currently supports a few major cryptocurrencies like Bitcoin, Ethereum, EOS, XRP, and BTC perpetual swap contracts. Users can stake these coins and earn staking rewards in the form of the corresponding coin or Bybit token (BBT).

The staking rewards vary depending on the coin being staked and the length of time that the coin is held. Users can choose to stake their assets for different periods, with longer staking periods typically resulting in higher rewards.

Bybit also allows users to participate in the staking program without having to lock up their assets. They can stake and unstake at any time.

Bybit NFT Trading Platform

Bybit NFT Trading Platform
Bybit NFT Marketplace

Bybit NFT Trading Platform is a marketplace for buying, selling, and trading Non-Fungible Tokens (NFTs) on the Bybit exchange.

Marketplace allows users to purchase, sell and trade NFTs using various cryptocurrencies like Bitcoin, Ethereum, and Bybit tokens (BIT).

The platform offers a wide range of NFTs from various categories like digital art, collectibles, gaming, and more. Users can browse through the available NFTs and place bids or purchase them outright using the supported cryptocurrencies.

It also provides a feature where creators can mint their own NFTs and put them up for sale on the marketplace.

Bybit’s NFT platform is built on the Ethereum blockchain, which enables NFTs to be bought and sold on the platform with the added security and transparency of the blockchain technology.

Bybit Copy Trading and Trading bots

Bybit Copy Trading is a feature on the exchange that allows users to copy the trades of other successful traders on the platform. The feature is designed to make it easy for new or less experienced traders to follow the strategies of more experienced traders and potentially profit from their success.

Users can search for traders on the platform based on various criteria like profit, win rate, and trading history. Once they find a trader they want to follow, they can choose to automatically copy their trades by linking their account to the trader’s account.

The platform also allows users to set a risk management strategy, such as setting a stop loss or taking profit level, to limit their potential losses.

Bybit’s trading bots are a feature that allows users to automate their trading strategies. The bots can be used to execute trades based on pre-set parameters, such as market conditions or certain technical indicators.

Users can create their bots or use pre-made bots from the marketplace. The bots can help to improve the efficiency and accuracy of the trades, and also help users to keep up with the market even when they are away from their computers.

Kucoin Review

Kucoin crypto exchange

Kucoin offers a wide variety of coins and tokens, including many smaller and lesser-known projects. The platform has a user-friendly interface and offers a variety of trading tools and features, such as margin trading and stop-limit orders.

The exchange also has its own token, KuCoin Shares (KCS), which can be used to receive discounts on trading fees and to earn passive income through the platform’s token buyback and burn program.

Overall, many users have reported positive experiences with KuCoin, praising its selection of coins and user-friendly interface.

Key Features of Kucoin

  1. A wide range of trading pairs: KuCoin offers trading in over 400 different cryptocurrencies.
  2. Low fees: KuCoin charges relatively low trading fees compared to other exchanges, with a trading fee of 0.1%.
  3. Advanced trading features: KuCoin offers advanced trading features such as margin trading, stop-loss orders, and take-profit orders.
  4. Strong security: KuCoin uses a multi-tier and multi-cluster system architecture, and implements a variety of security measures, such as two-factor authentication (2FA) and SSL encryption.
  5. Mobile App: KuCoin has a mobile app available for both iOS and Android, which allows users to trade and manage their accounts on the go.
  6. High Liquidity: KuCoin has a high trading volume, which can help to ensure that orders are filled quickly and at a fair price.
  7. Referral Program: KuCoin has a referral program that allows users to earn a commission by referring other users to the platform.

Kucoin Derivatives: Classic, Lite, & Brawl

KuCoin Future Lite: This is a simplified version of the KuCoin Futures trading platform, aimed at users who are new to trading futures. It offers a simple and easy-to-use interface, with a limited range of trading pairs and lower leverage options.

KuCoin Future Classic: This is the standard version of the KuCoin Futures trading platform, aimed at more experienced traders. It offers a more advanced interface, with a wider range of trading pairs and higher leverage of up to 125X.

KuCoin Future Brawl: This is a social and competitive trading platform that allows users to compete against each other to earn rewards. Users can join tournaments and compete against other traders to earn prizes.

Kucoin Cloud Mining

Kucoin allows users to participate in cloud mining without having to purchase and maintain their own mining equipment. This allows users to earn a share of the mining rewards without the need for significant upfront investment or technical knowledge.

The way it works is that KuCoin contracts with professional mining farms to purchase and operate mining equipment on behalf of users. The mining rewards generated by this equipment are then distributed among the users who have purchased cloud mining contracts.

Users can purchase cloud mining contracts in KuCoin by using the platform’s native token, KCS, or other supported cryptocurrencies. The contracts typically have a fixed duration, such as one year, and offer a guaranteed return on investment (ROI) in the form of mining rewards.

Please Note: Users need to pay maintenance and electricity costs.

Bybit Vs Kucoin: Final Thoughts

In conclusion, Bybit and Kucoin are both reputable and popular cryptocurrency exchanges that offer a wide range of trading options for users.

Bybit is known for its high-leverage trading options and advanced trading features, making it a popular choice for experienced traders.

On the other hand, Kucoin is known for its low trading fees and easy-to-use interface, making it a great option for beginner traders. Both exchanges have their own unique features and are suitable for different types of traders.

Ultimately, the choice between Bybit and Kucoin will depend on your individual trading needs and preferences.

It’s always a good idea to do your own research, compare the features and fees of each exchange and make an informed decision on which one to use.

FAQs

which is better: Bybit or Kucoin?

Bybit is a derivatives exchange that specializes in offering perpetual contracts for trading cryptocurrencies such as Bitcoin, Ethereum, and EOS. It is known for its high-leverage options and advanced trading features, making it a popular choice among experienced traders.

KuCoin, on the other hand, is a spot exchange that offers trading in a wide variety of low market-cap cryptocurrencies. It has a user-friendly interface and a large selection of trading pairs. KuCoin also has its own token, KCS, which can be used to pay for trading fees and receive discounts.

Amit Chahar

Amit Chahar

Hey! I am Amit Chahar, a Crypto and blockchain content creator at Wallet Reviewer. With 3+ years of experience as a SEO content writer, I love talking about blockchain technology, digital assets, DeFi, Smart Contracts, DApps, Digital Wallets, Metaverse, and NFTs.

Want to hire me? Contact: hello@walletreviewer.com

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