5 Differences Between Bittrex and KuCoin

What are the differences between Bittrex and KuCoin? Since the launch of Bitcoin more than a decade ago, there has been a lot of change in the crypto space, not only in the availability of different types and numbers of coins but also in the number of crypto trading platforms.

Two such reliable and popular platforms are KuCoin and Bittrex that may offer similar services but in different ways. There are lots of differences between these two crypto platforms which this article will tell you all about.

When you sift through the internet looking for crypto exchanges, a couple of questions may come across your mind such as whether or not they are legit, safe, and which one of them will suit you the best according to your crypto trading needs.

Since everyone wants to have something that is better than the others according to human psychology, the same principle is applicable when it comes to choosing between two crypto platforms such as KuCoin and Bittrex.

The best approach to follow for that matter is to research extensively about each of these two crypto platforms. Alternatively, if you want to cut the research part short, or even skip it entirely, articles like this will prove to be extremely helpful to you.

With an enhanced knowledge about the major and minor differences, choosing one among Bittrex and KuCoin and having your purposes solved will be quite an easy task. 

5 Differences between Bittrex and KuCoin

Differences Between Bittrex and KuCoin 

Bittrex and KuCoin are both reliable trading platforms. While Bittrex targets the global markets, KuCoin targets the crypto investors, especially those who are looking for a reliable crypto exchange offering better solutions.

However, in spite of some smaller similarities, there are some major differences between these two platforms.

You will find below all those major aspects in which both these platforms Bittrex and KuCoin differ from each other which includes the trading fees charged by them, the withdrawal and deposit methods and fees, the coins supported, trading types allowed and more.

With such enhanced knowledge, it will be much easier for you to choose the right crypto platform according to your requirements. Here you go.

1. Trading Fees 

The fees charged by these two platforms are one of the most significant parameters that will help you to make your choice in a much better way.

Bittrex Fees:

The fee schedule of Bittrex seems to improve as and when the users trade more allowing them to save more. In order to understand this in a better way, you will need to know the nuances of it.

Typically, this fee schedule involves maker and taker fees and is designed on the 30-day trading volume of an account. The trading fees are applicable after an order is filled by the matching engine of the Bittrex platform.

The platform does not charge any fees for deposits whether it is made in crypto coins or USD but it charges a withdrawal fee to cover the network transfer fee that is built into each coin. However, there is no fee for fiat withdrawals.

In this fee structure both the buyers and sellers are charged a fee while executing an order. This fee is calculated on the total price of the order executed which is obtained by multiplying the amount of the given trade by the purchase price of the asset and the rate.

And, if an order is placed but not executed there are no fees charged and the portion of a trade that is not executed is fully refunded when it is cancelled.

The Bittrex platform reserves the right to make changes on its fees, commission rates, incentive programs, and discounts at any time. However, usually, the maker and taker fees of this platform are:

  • Both 0.35% if the 30-day trading volume is less than 25000 US Dollars
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  • 25% and 0.30% respectively if the 30-day trading volume is within 25000 to 50000 US Dollars

 

  • 15% and 0.25% respectively if the 30-day trading volume is within 50000 to 100000 US Dollars

 

  • 10% and 0.20% respectively if the 30-day trading volume is within 100000 to 1 million US Dollars

 

  • 06% and 0.16% respectively if the 30-day trading volume is within 1 million to 5 million US Dollars

 

  • 05% and 0.15% respectively if the 30-day trading volume is within 5 million to 10 million US Dollars

 

  • 02% and 0.10% respectively if the 30-day trading volume is within 10 million to 60 million US Dollars

 

  • 0% and 0.08% respectively if the 30-day trading volume is within 60 million to 100 million US Dollars and

 

  • 0% and 0.05% respectively if the 30-day trading volume is more than 100 million US Dollars.

 

The fees charged by Bittrex also vary according to the currency pair used for a particular trade. Also, it depends on whether it is a maker or a taker order that is filled.

KuCoin Fees:

On the other hand, KuCoin charges its trading fees following a newly constructed tiered discount program. The base transaction maker and taker fees for all types of trading pairs are 0.1%. This rate, however, is not applicable to the GGC trading pairs, for which the platform charges a trading fee at the rate of 0.25%.

According to the new Tiered Trading Fee Discount Program of KuCoin, the platform follows specific rules for it such as:

  • Snapshots of the KCS holdings of the users are taken at 00:00 AM every day including the total trading volume for the past 30 days as BTC equivalent.

 

  • The users must meet the set requirements to get to a particular Tier level and pay the trading fees accordingly.

 

  • The trading fees according to the corresponding tier level are updated automatically at 10:00 AM every day and these are in effect for a day after which it is renewed automatically.

It is good to note here that any Hidden Order will always include a taker fee and the Iceberg Order also includes it until the hidden quantity is executed completely.

Just like Bittrex, the fees on KuCoin are also based on a 30-day trading volume of the users which can be enumerated as follows:

  • If the trading volume ranges between 300 and 500, the maker fee is 0.065% and the taker fee is 0.10%

 

  • If the trading volume ranges between 500 and 1000, the maker fee is 0.0575% and the taker fee is 0.07%

 

  • If the trading volume ranges between 1000 and 2000, the maker fee is 0.05% and the taker fee is 0.07%

 

  • If the trading volume ranges between 2000 and 3000, the maker fee is 0.0425% and the taker fee is 0.06%

 

  • If the trading volume ranges between 3000 and 5000, the maker fee is 0.035% and the taker fee is 0.06%

 

  • If the trading volume ranges between 5000 and 10000, the maker fee is 0.0275% and the taker fee is 0.05%

 

  • If the trading volume ranges between 10000 and 20000, the maker fee is 0.02% and the taker fee is 0.04% and

 

  • If the trading volume is more than 20000, the maker fee is 0.0125% and the taker fee is 0.03%.

Therefore, both these platforms have a varied and wide range of trading fees charged from their respective users and it depends on your preferences as to which one you will choose.

2. Cryptocurrency Support

Both these platforms support different types of crypto coins. As for Bittrex, the platform supports more than 160 different types of crypto coins including and not limited to Bitcoin, Ethereum, Tether, Cardano, XRP, Dogecoin, Litecoin, Stellar, TRON, Ethereum Classic, Monero, NEO, Waves, Dash, Zcash, OmiseGO, Decentraland, Decred, NEM, Qtum, Zilliqa, Basic Attention Token, Bitcoin Gold, Bancor, Siacoin, 0x, DigiByte, Gnosis, WAX, Loopring, Golem, Lisk, and lots more.

On the other hand, the KuCoin platform supports more than two hundred different types of crypto coins such as Bitcoin, Ethereum, Binance Coin, Tether, Cardano, XRP, Litecoin, Algorand, Bitcoin Cash, Cosmos, VeChain, Stellar, Fantom, TRON, Ethereum Classic, Tezos, Monero, EOS, NEO, Enjin, Maker, Dash, Haven, Zcash, OmiseGO, Chiliz, Decentraland, Decred, NEM, Qtum, KuCoin, Shares, Zilliqa, and more.

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3. Service Categories 

These two platforms provide services in various categories that are both similar and different from each other. As for Bittrex, the service categories include crypto coin exchange and API.

On the other hand, KuCoin provides its services in different categories that include crypto APIs, crypto exchange, crypto ICO and IDO launch pad, crypto DeFi lending, crypto margin trading, crypto staking, and crypto trading bots. 

4. Pros and Cons 

Needless to say, both these platforms come with their characteristic advantages and disadvantages. As for KuCoin, the users get to enjoy benefits such as low fees charged for making deposits and withdrawals and a vast range of crypto coins to choose from.

This exchange platform is also quite easy to understand and the account creation process is quite simple and pretty fast as well.

However, the downsides of this platform are that it is not regulated and follows somewhat less transparent business practices. Most importantly, it got hacked once last year which tarnished its security just a bit.

On the other hand, one of the most significant advantages offered by the Bittrex platform to its users is top-class security. The users get an additional assurance of safety due to the fact that this platform has not been hacked to date.

Apart from that, the design and automated features included in the interface of the platform not only make it easy to use and navigate but are also quite beneficial in making trades.

On the flip side, the downsides of this platform include its verification which is not only strict but also takes a long time. Also, the customer service of this platform is not exceptional because issues are not resolved on time. 

5. Some Other Smaller Differences 

There are some smaller differences between these two crypto platforms that are worth taking into account as well. This will ensure that you can make a much better comparison between KuCoin and Bittrex head-to-head and make the right choice eventually.

Bittrex is based in the United States while KuCoin is based in Singapore. While Bittrex was founded in 2014, KuCoin was founded in 2017.

In terms of exchange volume, Bittrex is far ahead of KuCoin with a trading volume of nearly 100 million dollars which is more than three times the exchange volume of KuCoin.

Languages supported by KuCoin include English, Chinese, Korean, Portuguese, Dutch, German, Spanish, Turkish, Russian, Italian, French, Indonesian and Vietnamese. On the other hand, the Bittrex platform supports English, Russian, and Chinese languages.

In terms of fiat currency trading, the Bittrex platform supports US dollars and Euros but KuCoin supports USD, EUR, CNY, AUD, and five other types of fiat currencies.

When it comes to the deposit methods, Bittrex allows making deposits via cryptocurrencies and bank wires whereas KuCoin allows making deposits only in cryptocurrencies.

One good thing about the KuCoin platform is that the users do not need to go through any complex verification process for raising limits but Bittrex does not allow increasing the limits without proper verification of the users.

Customer support is provided by Bittrex to its users only during their business hours through email but KuCoin, in comparison, offers much better assistance to its customers through online and live support 24/7.

In terms of derivatives, the KuCoin platform offers derivatives to the users but Bittrex does not.

The maximum daily trading amount allowed by Bittrex is up to 3000 US Dollars worth but on the KuCoin platform, there are no such limits imposed on the users.

Which is Better – Bittrex or KuCoin? 

When you compare KuCoin and Bittrex, in the end, you may wonder which among these two is a better crypto trading platform overall.

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However, this is not an easy question to answer. This is because the whole thing depends on your trading style and needs.

Therefore, you should make a decision based on the capabilities offered by the respective platforms.

This is a very important aspect because it plays the most crucial part in the success and if it does not support your crypto trading needs directly, you will find it difficult to achieve your goals.

Apart from the basic differences between the two platforms, here are a few additional important facts for you to know which will also help you a lot in making the right choice among KuCoin and Bittrex. 

The KuCoin platform is considered to be quite beginner-friendly but at the same time, it offers a lot of help to the advanced users as well due to its features.

On the other hand, the Bittrex platform, though quite good and reliable, is considered to be one of the best platforms for those users who are typically looking for a much better customer reward program.

While making your choice it is important that you make your choice on the basis of the value for money offered by each of the crypto platforms.

This is an important parameter for choice because it will help you to decide which platform among the two will offer you a more acceptable quality of services compared to the price. In this case, KuCoin seems to score a bit higher as compared to Bittrex. 

Apart from that, you should also look at factors such as the number of active users. In that case, KuCoin has double the number of users of Bittrex.

It is also a better exchange in terms of coin support with a higher number in comparison to Bittrex. 

Therefore, there are lots of factors and parameters that will affect your final decision and the different features of each of these two platforms can confuse you pretty easily and surely.

The best approach is to make your choice for a more reliable and effective crypto trading platform considering how long it has been in the crypto space.

An active and older market player will certainly have a good reputation in the market as well as among the crypto users thereby making it more reliable. This means Bittrex is a much better choice.

However, that should not be the only selection criterion. In fact, the newer projects tend to be more technologically advanced.

Therefore, if you are tech- savvy and want to use more modern crypto trading tools and charts, you should go with a relatively newer crypto exchange, KuCoin in this case.

You must also make your decision based on the location of the crypto platform. This is quite important because the financial and operational regulations may vary from one place to another.

This will not only make it difficult for you to seek the required assistance at the right time but may also not allow you to perform a specific action that you are used to.

However, if you want to use a platform on the go, both these platforms are equally good since both come with a mobile app that supports both iOS and Android Devices.

Conclusion 

It is not at all easy to choose between two crypto platforms like KuCoin and Bittrex if you are unaware of the differences between them. Thanks to articles like this one, you will find your job more simplified to make an informed decision.