KuCoin
KuCoin

If you’re considering opening a crypto investment account with Coin or Finance.US, you should reconsider. It’s possible to buy and invest in frequently traded cryptocurrencies on both of these exchanges, but there are also risks attached to it, especially for beginners, who should be more careful while choosing which one is best for them.

KuCoin’s learning curve is particularly steep. Although Binance.US has lower fees than other well-known exchanges, security experts say the additional costs are well worth it because of the enhanced policies and protocols in place to ensure the exchange’s safety. Binance.US has a history of regulatory issues that we think investors should avoid.

When it comes to cryptocurrency exchanges, KuCoin and Binance are two of the most popular choices for investors. If investing in the United States makes sense for your plans, keep reading to learn more about these two crypto exchanges.

Availability Of Cryptocurrencies:

In addition to Binance, KuCoin provides access to over 600 cryptocurrencies. According to other exchanges, the number of cryptocurrencies available in the United States is a relatively low 80. It is possible to save money on trading fees by using native coins from Coin (KCS) or Binance.US (BNB). It’s easier to get a discount on fees if you just hold BNB, which has a much higher market cap than KCS does. BNB also has a higher potential return on investment. To receive the discount, you must pay the fee with KCS using the coin.

Security:

KuCoin states on its website that it has “the most sophisticated security technology and maintenance team, and we are continuously updating our security systems to guarantee the safety of user assets and accounts.” While it’s difficult to find specifics, the site does provide information on how to secure your account, including how to use two-factor authentication and restrict your login IP.

When the exchange was hacked, KuCoin was kind to its customers. Hacked users’ private keys and $250 million in crypto were taken from their accounts in 2020, and the coins were then sold on decentralized exchanges. A combination of law enforcement and insurance coverage was used to compensate kucoin broker, according to the company. Additionally, AuCoin claims to have taken measures to prevent a repeat of this incident. Two other crypto exchanges, Coinbase and Crypto.com, were also hacked. Since then, they have given refunds to customers and tightened security.

On its homepage, Binance.US states that it adheres to the highest standards of security, but it doesn’t go into specifics. Binance U.S. US’s partner, BAM Trading Services, is registered with FinCEN as a Doing Business as (DBA) under the BAM registration. There is no guarantee that the larger Binance will cover Binance.US customer losses due to security incidents, however. The Binance. the platform is being investigated by the SEC for ties to Binance’s CEO and two trading companies that buy and sell on the platform, which have previously been the subject of regulatory scrutiny. After the review by different channels in 2021, a spokesperson for Binance.US emailed them and stated that the two companies operate independently, with Binance.US licensing trademarks, software, and wallet tech from the larger Binance. The spokesperson did not elaborate further.

Offerings For Wallets:

This feature is available on both KuCoin.com and Binance.com, which both allow users to store coins in a hot wallet. Alternatively, you can move your coins from an exchange to an external wallet of your choosing. There is no internal wallet for KuCoin, but you can connect your own to the exchange and send and receive coins from there. The United States does not disclose information on an internal wallet but rather recommends that you use the Trust Wallet, which is owned by Binance, to store your cryptocurrency.

Fees:

In terms of kucoin fees vs binance, both KuCoin and Binance.US use a tier-based maker/taker model. A maker is someone who contributes liquidity to the exchange by placing an order that isn’t immediately fulfilled. A taker is someone who places an order that is immediately matched. Taker fees are generally higher than maker fees at each tier. In both KuCoin and Finance.US, lower fees are available if you trade a lot of cryptocurrencies each month.

However, AuCoin’s fees aren’t as low as Binance fees or US’s, and that’s something to keep in mind. As a B&B holder, you’ll get a 25% discount on fees in comparison to the 20% discount offered to KuCoin traders who use KCS. KuCoin charges up to 0.3 percent of the value of your crypto asset, compared to the maximum fee of Finance, which is 0.10 percent in the United States.

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