8 Differences Between Coinmama and KuCoin

What are the differences between Coinmama and KuCoin? There are lots of crypto exchanges available out there for the crypto traders and investors to use but all may not be created equal.

Moreover, all of these crypto exchanges may not be equally popular or effective. Two such crypto exchanges are Coinmama and KuCoin.

Both these crypto platforms are good to use but serve the purposes of the crypto traders and investors in different ways.

Considering the overall features of these two platforms, it may seem that the Coinmama platform is suited best for those people who have stepped into the crypto field for the first time.

On the other hand, the KuCoin platform is suitable to use to buy and sell crypto coins both by the beginners as well as those who have been around for a while in this exciting crypto space.

If you want to know more about these two platforms and the differences between them, you are in the right place.

This article deals with the several categories that differ in these two crypto platforms which will help you to differentiate between them easily and select one for you most easily.

Do make sure that you also read the ‘Which is better’ section so that you can make your final choice easily.

8 Differences Between Coinmama and KuCoin

Differences Between Coinmama and KuCoin

Well, in fact, Coinmama is a good crypto broker exchange and KuCoin is considered to be one of the most well-established and reliable crypto exchange platforms.

And, needless to say, there are lots of other differences between these two platforms.

While comparing Coinmama and KuCoin, you will need to consider several aspects such as their trading fees, deposit methods, withdrawal fees, trading types, types of crypto coins supported, and more. Here they are all for you.

1. Company Location and Creation

As for the location of the company, KuCoin is located in Hong Kong and was founded in 2017.

On the other hand, Coinmama is located in Bratislava, Slovakia. It was founded in 2013 by the owners, New Bit Ventures, who are based in Israel.

2. Fees

The fees charged by KuCoin are much different from the fees charged by Coinmama in all aspects.

As for deposit fees, Coinmama charges 5% if it is made through a credit card while making deposits on KuCoin are free of any fees.

As for trading fees, on KuCoin it is 0.1% but Coinmama charges a fee that is much higher than the fees charged by KuCoin which stands at 5.90%.

The taker fees and maker fees of the two platforms are also quite different. While that of Coinmama exchange is 5.50%, the taker and maker fees of the KuCoin platform are 0.10% for both.

Read Also:  11 Differences Between eToro and Revolut

And, as for the fees charged for making withdrawals on these two platforms, that of KuCoin is 0.0005 BTC and for Coinmama it is 5% credit card fee.

3. Platforms Supported

Both these crypto exchanges support different platforms, some of which are common to both but mostly they are different.

When you consider Coinmama, the platform supports Windows, Linux, Mac, SaaS, Android, iPhone, and iPad.

On the other hand, the KuCoin platform supports only SaaS, iPhone, and Android.

4. Audience Support

Coinmama is a reliable and popular cryptocurrency exchange that supports individual crypto traders and investors as well as larger companies. Users can buy and sell different types of crypto coins such as Bitcoin and other types of Altcoins most conveniently and pretty fast.

On the other hand, KuCoin is a crypto exchange that supports those crypto investors who are looking for a more reliable exchange solution.

5. Useful Categories

The different categories in which the KuCoin platform is useful includes crypto APIs, lending, margin trading, ICO launch pads, crypto staking, exchanges and crypto trading bots.

On the other hand, the Coinmama platform is useful only in the cryptocurrency exchanges category.

6. Unique Features

Here are some features that are unique to both KuCoin and Coinmama crypto trading platforms.

Some of these features of Coinmama include:

  • Several payment options such as a credit card, debit card, bank transfer, and Apple Pay
  • Higher spending limits to buy the crypto coins of your choice without needing to hold them back
  • Faster verification process during account set up so that you can start buying crypto coins immediately within minutes and
  • Instant delivery once the order is placed with no requirement for deposits.

On the other hand, the unique features of the KuCoin platform are:

  • Faster and safer purchase of Bitcoin and a quick way to start trading
  • Several order types to suit all types of traders with varied risk appetites
  • A bonus of up to 500 USDT for the new users who sign up with them and
  • Dual platforms comprising a website and a mobile app that allows the users to trade from anywhere and at any time.

In addition to that, you will also be able to get in touch with a KuCoin Global Community that spreads in more than 200 countries and multiple languages that help millions of users all over the world. Most importantly, the users of KuCoin can stay updated with the current news, events and happenings around the crypto market via KuCoin News.

7. Pros and Cons

As for the advantage of using the KuCoin platform, the users will get to trade using a vast range of crypto coins by paying comparatively low fees.

The withdrawal fees charged by this platform are also quite low. Also, this platform is very easy to understand or use, whether it is for creating a new account or trading crypto coins on it.

Read Also:  Robinhood vs Binance - 7 Differences & Which is Better

However, there are also a few downsides of the KuCoin platform that you should keep in mind as well. This platform is not regulated and has also got hacked before in 2020 quite badly.

Some users also complain about the relatively shady business practices followed by this crypto trading platform.

On the other hand, one of the most significant advantages of using the Coinmama platform is that this platform is accepted and accessible from almost all countries in this world including some regions in the United States.

In addition to that, the platform offers the users to get the highest buying limits and along with offering reasonably good customer support.

As for the downsides of CoinMama, you should keep in mind that it charges a high fee and is also known to have had some incidents of scam claims in the past. However, there have been no incidents of hacking in the past.

8. Some Other Important Differences

These smaller differences between KuCoin and Coinmama should not be overlooked as well. This will help you to make a more comprehensive and fruitful comparison between the two crypto platforms.

The customer support service provided by KuCoin includes live chat support and online support 24/7 while Coinmama provides the same to its users through email and a dedicated hotline.

The tradable coins supported by the KuCoin platform include BTC, ETH, KCS, NEO, USDT, and a lot more. On the other hand, Coinmama supports BTC and ETH.

The two platforms support different types of fiat currency trading as well. The Coinmama platform supports USD, EUR, CAD, AUD, and JPY while KuCoin supports a lot more than that including USD, EUR, CNY, AUD, and five more fiat currencies.

Also remember, Coinmama supports wire transfer but KuCoin does not and while KuCoin offers derivatives, Coinmama does not.

Which is Better – Coinmama or KuCoin?

The best way to determine which among Coinmama and KuCoin is a better crypto platform to go with is to determine which of these platforms come with exactly those features that will serve all of your purposes and meet all your crypto trading needs.

Though these two platforms are quite good as an exchange to trade crypto coins, you should know some other aspects that will help you to make the right choice eventually.

First and foremost, one of the most significant aspects to consider for a better comparison is to determine which of the two platforms offer you a higher value for money.

This will ensure that you get all the necessary services for crypto trading that are of the highest quality and, preferably, available at a reasonable cost.

Considering all these aspects, it is Coinmama for sure that will offer you a higher value for money as compared to the services offered by the KuCoin platform.

Read Also:  Crypto Limit Order vs Stop Order - The Differences

Next up, no matter how insignificant it may seem to you, it is important that you consider the number of active users the crypto trading platforms have as of now.

The higher is the number of active users, the better is the platform since it signifies its level of trust.

Clearly, and once again, Coinmama wins in this aspect having more than double the number of active users in comparison to the KuCoin platform.

Coinmama is a beginner-friendly platform that enables the users to maintain anonymity. On the other hand, the KuCoin platform which is suitable for the advanced traders as well also allows the users to maintain anonymity while making a transaction.

In a summarized way it can be said that the Coinmama platform will be the most suitable one for those crypto users who are looking for:

  • A helpful and responsive customer support
  • A security of high level
  • An interface that is user-friendly
  • A website that is accessible in nearly two hundred countries and most of the US states and
  • A platform that accepts credit cards and debit cards both.

However, if you choose this platform you must also remember that you will have a relatively limited option of crypto coins to choose from and you will not have any way to call the customer service over the phone.

However, if you choose to go with the Coinmama platform, keep in mind that you will not be able to use any analytical tools or even have the convenience of trading on the go via a mobile app because this crypto platform does not offer those facilities to the users as opposed to KuCoin.

On the other hand, it can be said that the KuCoin platform is a suitable crypto platform for those users who are looking for a wider range of crypto coin support and are quite secure. However, the trading volume on this platform is pretty low.

In the end, therefore, everything boils down to your convenience, preferences, and crypto trading needs.

Conclusion

You will need to do a lot of research if you want to find which among KuCoin and Coinmama is a better crypto exchange platform to go with. Alternatively, articles like this one will also be helpful in knowing the differences between them.