KuCoin vs Coinbase

Dominic Harper // January 16 // 0 Comments

KuCoin is one of the largest crypto exchanges in the world, boasting 11 million users, and Coinbase is the biggest crypto exchange in the USA. They are both hugely popular, but how do they go in the Australian market, and which is better for you to use?

If you want the quick answer, it's KuCoin if you are an experienced trader. The fees are only 0.1% and there are heaps of extra features on KuCoin that you can take advantage of, including free trading bots, futures and margin trading. However, if you are a beginner to crypto, KuCoin is not a great choice since it's a bit complicated for those that don't have any experience. However, I wouldn't recommend Coinbase either since it is not really designed for the Australian market. You cannot sell crypto, nor can you withdraw AUD from the exchange. I would suggest you choose one of the best crypto exchanges in Australia, to find one that is suitable for beginners, and has full functionality. For example, Swyftx is user-friendly, with over 320+ different coins, Live Chat, and even a demo mode so you can get the hang of trading without risking your money.

If you still want to find out the differences between KuCoin and Coinbase, keep reading and make up your own mind.

Comparison Table

Header

Coins

600+

160+

Trading Fee

0.1% 

4.49%

Deposit Fee

Varies

Included in trading fee

Withdraw Fee

Cannot withdraw AUD

Cannot withdraw AUD

Payment Methods

 Visa/Mastercard, Apple Pay & PayID

Debit card

Features

- Low trading fees of just 0.1%

- Free in-built trading bots

- Margin trading, futures, crypto lending, P2P

- Insurance cover in case exchange is hacked

- Earn free coins by watching short educational videos

Cell
Header

Coins

600+

160+

Trading Fee

0.1% 

4.49%

Deposit Fee

Varies

Included in trading fee

Withdraw Fee

Cannot withdraw AUD

Cannot withdraw AUD

Payment Methods

 Visa/Mastercard, Apple Pay & PayID

Debit card

Features

- Low trading fees of just 0.1%

- Free in-built trading bots

- Margin trading, futures, crypto lending, P2P

- Insurance cover in case exchange is hacked

- Earn free coins by watching short educational videos

Cell

Pros & Cons: KuCoin

  • P R O S
  • Huge exchange with 11 million users
  • Over 600+ different coins supported
  • Low trading fees of 0.1% that can be reduced by 20% if you pay with KCS coin
  • Advanced markets such as futures, P2P and margin trading
  • Free in-built trading bots to automate your strategy
  • C O N S
  • Cannot withdraw fiat currency
  • Expensive fees when purchasing cryptocurrency (3-12%)
  • Not suitable for beginners

Pros & Cons: Coinbase

  • P R O S
  • Largest crypto exchange in the USA
  • Easy for beginners to use
  • Crime insurance cover against hacks
  • Mobile app for convenience
  • C O N S
  • Cannot withdraw AUD from exchange
  • Cannot sell cryptocurrency in Australia

Fees

KuCoin has low trading fees of just 0.1% when you trade crypto to crypto on their market. If you pay your trading fees using their native coin (KCS) you receive 20% discount, so the fees are only 0.08%. You cannot deposit AUD or any fiat currency into KuCoin. Most traders will deposit cryptocurrency (free of charge) so they can start trading immediately. If you don't have crypto yet and you want to purchase some, you can do so with the fiat gateway. There is no explicit fee that they charge, but according to a popular crypto reviewer who did a test, the fees are between 3% and 12%. Withdrawing fiat currency from KuCoin is not supported.

Coinbase charges 4.49% to purchase crypto using a debit card, which is the only method supported in Australia. It isn't possible to sell your crypto or withdraw AUD from Coinbase if you are an Australian user.

Fees Winner: KuCoin

While it is expensive to purchase crypto outright on KuCoin, most users treat it as a purely cryptocurrency trading platform, and they will deposit coins free of charge into their account. From there, it is extremely cheap to trade, only 0.1%, which can be lowered to 0.08% just by paying with their coin.

Number of Coins

KuCoin offers more than 600+ different cryptocurrencies, and they regularly add to their collection of coins. 

Coinbase offers 160+ different coins, which is not as many as KuCoin.

Number of Coins Winner: KuCoin

KuCoin has more than triple the number of coins that Coinbase offers, with a huge range of more than 600+. 

Features

KuCoin has heaps of trading markets, such as spot trading, futures, margin trading, and P2P, which makes it an excellent choice for experienced traders. On top of that, they even have free in-built trading bots that you can set to perform trades based on certain parameters, even if you're asleep. You can even customise your bot to automatically copy the trades of successful bots that other investors are using. 

If you are interested in borrowing cryptocurrency, you can do that on KuCoin. It is quick and simple, you need to select which coin you are after, and how much you want to borrow, along with the preferred interest rate. If you have lots of cryptocurrency that you are holding for the long-term, you can earn interest on it, by lending crypto for others to borrow. It is up to you which coin you want to lend (you can choose from over 600), the term of the loan (7, 14 or 28 days) and the interest rate you want to receive. 

Coinbase is a simple crypto exchange without a lot of the features available on KuCoin. A big disappointment for Coinbase users in Australia is that you cannot sell your crypto, nor can you withdraw AUD from the account. Although Coinbase is very popular in the USA, it is not well designed for the Australian market, which is why it has these issues. 

Features Winner: KuCoin

KuCoin is a dedicated trading platform and so has plenty of markets for experienced traders to choose from, as well as additional features like automatic trading bots. 

Security

KuCoin uses a number of security features to make sure their customers have a safe experience on their exchange. They have dynamic multi-factor authentication, multi-layered encryption and micro-withdrawal wallets, as well as specialised internal risk control departments to check daily transactions. In 2020, KuCoin was hacked, and $150 million was stolen from the platform. The good news is that KuCoin worked really fast and managed to retrieve a substantial amount of the stolen funds, and the remainder was covered by their insurance. None of KuCoin's customers lost any money from this hack, which gives their current users peace of mind.

Coinbase is also a very secure cryptocurrency exchange; their multi-layered security includes 2FA, biometric logins, and offline cold storage of 98% of their digital assets. Coinbase also has crime insurance, which covers the exchange and hence the users, from any losses from theft, including cybersecurity breaches.

Security Winner: Tie

Both KuCoin and Coinbase are very safe cryptocurrency exchanges, and it is hard to determine whether one is more secure than the other.

Overall Winner

KuCoin is the better choice if you are an experienced cryptocurrency trader, with plenty of markets and other features, such as crypto borrowing and lending. Coinbase is better suited for beginners, but even so, I would not recommend it for Australians. This is because you can't even access the most basic functionality of selling crypto and withdrawing AUD if you are using Coinbase in Australia. If you are a beginner to crypto, I would suggest Swyftx or Digital Surge for Aussies. If you are interested in reading about some other great choices, have a look at the table underneath, as well as this article on the best crypto exchanges in Australia.

CoinSpot
Swyftx
Digital Surge
eToro
Binance
Crypto Exchange
Crypto Exchange
CoinSpot
Swyftx
Digital Surge
eToro
Binance
Fiat Currencies
Fiat Currencies
AUD
AUD, NZD
AUD
AUD, USD, GBP, EUR & 11 more
AUD, USD, GBP, EUR, CAD, HKD, JPY & 35 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, LTC, XRP, BCH, ADA & 360+ more
BTC, BTG, BCH, ADA, ETH, ETC & 320+ more
BTC, ETH, BNB, ADA, XRP & 300+ more
BTC, ETH, BCH, XRP, LTC, ADA & 50 more
BTC, ETH, LTC, BNB, ADA, XRP & 600+ more
Deposit Methods
Deposit Methods
Bank transfer, BPAY, Cash, POLi, PayID, Cryptocurrency
POLi, PayID, OSKO, Bank transfer, Credit card, Cryptocurrency
PayID, POLi, OSKO, Cryptocurrency
Bank Transfer, Credit card, Debit card, PayPal, POLi
PayID, OSKO, Cryptocurrency
Trading Fees
Trading Fees
Market order: 0.1%, Instant buy: 1%
0.6%
Market order: starts from 0.5%, Instant buy: 0.5%
1%
0.1%
About the Author: Dominic Harper

Dominic has a background in finance and is passionate about cryptocurrency, blockchain technology and NFTs. He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.

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