Coinex vs Kucoin | How Do They Compare & Who Is Better?
Jack Moreau
May 2024
8 min read
Fact checked
Are you torn between Coinex and Kucoin? Don't worry, we've got you covered! Our comparison of these two exchanges across various metrics such as KYC requirements, country availability, product offerings, trading fees and deposit methods will help you make an nformed decision!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
When it comes to global cryptocurrency exchanges, Coinex and Kucoin are two well-known names in the industry.
Coinex was founded in 2017 by Haipo Yang, while Kucoin was established in the same year by Michael Gan. Let's take a closer look at each platform to see what they have to offer.
Coinex exchange
Coinex is a Hong Kong-based cryptocurrency exchange that offers trading for a variety of cryptocurrencies including Bitcoin, Ethereum, and Litecoin.
The platform has a user-friendly interface that is suitable for both beginners and experienced traders.
Coinex offers a range of trading options, including spot trading, margin trading, futures trading and it also supports trading via mobile apps.
Coinex is estimated to have over 2 million users around the world and support for a wide range of over 600 cryptocurrencies.
Coinex app
Kucoin is a global cryptocurrency exchange that was founded in 2017 and is a subsidiary to Seychelles registered MEK Global Limited.
The platform supports hundreds of cryptocurrencies including Bitcoin, Ethereum, and numerous altcoins such as its native token, KuCoin Shares (KCS).
Kucoin exchange
Kucoin has grown an impressive user base of over 20 million users around the world, and it is also available on Android and IOS where it has been downloaded over 5 million times.
Kucoin offers one of the widest ranges of altcoins on the market with over 700 cryptocurrencies available for purchase and sale.
Kucoin app
Coinex vs Kucoin Signup & KYC
If you're looking for a quick and easy signup process, both Coinex and Kucoin are great options.
Signing up for Coinex takes less than 30 seconds and only requires an email and password. Meanwhile, with Kucoin, a basic email signup is all that's needed.
Coinex signup
However, if you want to access increased withdrawal and trading limits, you'll need to go through a KYC process with both exchanges.
For Coinex, this involves submitting personal information, uploading a valid ID, and taking a selfie. The Coinex team will then take up to 1-3 working days to verify the account.
With Kucoin, the KYC verification process can take up to 2-3 business days and involves uploading personal information, a valid government ID and a selfie.
Kucoin KYC
While both Coinex and Kucoin have KYC available for those that wish to access higher limits or additional features, it is possible to deposit cryptocurrencies and begin trading on both exchanges without going through KYC.
Coinex vs Kucoin Products & Services
Moving on to products and features, Coinex offers spot trading for over 600 cryptocurrencies, margin trading with up to 10X leverage, and futures trading with perps settled in stablecoins and cryptocurrencies.
In terms of leverage, CoinEx Inverse contract employs several adjustable leverages, ranging from 3X to 100X.
Coinex futures
Coinex also offers trading bots and users can earn on their digital assets by lending them out to others. In terms of liquidity, Coinex is not in the top 20 with daily trading volumes ranging from $25-$75 million.
Coinex cryptocurrencies
The user experience on Coinex is quite good and tailored for beginners, with easy-to-follow tutorials on how to use the different services offered by the exchange.
Kucoin has evolved into a comprehensive crypto service provider, now standing shoulder-to-shoulder with the biggest exchanges in the world in terms of the range of products it offers.
At the heart of Kucoin's services is spot trading, a feature that allows users to buy and sell a diverse range of over 700 cryptocurrencies and altcoins.
Kucoin Spot Trading
Kucoin is constantly updating its offerings, adding new coins and tokens every week. This makes it an ideal platform for those looking to explore and invest in less common altcoins.
Kucoin Crypto Markets
For traders interested in leveraging their positions, Kucoin offers margin trading with up to 10X leverage. This feature allows users to take larger positions than their account balance would normally permit.
Kucoin Margin Trading
Traders have the option to go long (betting that the price will rise) or short (betting that the price will fall), using either cross margin (which pools all available balances in the account as collateral) or isolated margin on over 100 cryptocurrencies.
Kucoin also extends its services to futures trading, offering over 250 tradable futures contracts. This includes various futures products such as contracts margined with USDT and USDC, as well as coin-margin contracts and grid bots.
Kucoin Futures Products
For those who are comfortable with high-risk strategies, Kucoin provides the option to use up to 125X leverage, which is particularly attractive to more aggressive traders who are comfortable with the high stakes of such strategies.
Kucoin Futures
Additionally, Kucoin offers leveraged tokens as an alternative for those looking to take long or short positions with smaller leverage (2-4X). These tokens allow users to gain exposure to leverage without the need for loans or the risk of liquidation.
Kucoin Leveraged Tokens
Kucoin also caters to a variety of trading bots to enable automated trading options like spot grid, futures grid, martingale, smart rebalance, infinity grid, and Dollar Cost Averaging (DCA) bots.
Kucoin Trading Bots
In terms of trading volumes, Kucoin ranks in the top 20 for spot trading with $1 billion in 24-hour trading volume, and over $2 billion in futures trading volume.
Kucoin Trading Volumes
For users looking to earn interest on their digital assets, Kucoin has developed an extensive Earn section where users can participate in savings, staking, dual investments, and more.
Kucoin Earn
The platform offers staking rewards for various popular blockchains, including Ethereum, Solana, Cosmos, Polkadot, and Injective, among others.
Kucoin Staking
Kucoin has also joined the trend of exchanges offering launchpads for new token launches. Through its Kucoin Spotlight, users can access investment opportunities in new tokens such as SUI.
Kucoin Launchpad
In addition to cryptocurrencies, Kucoin has entered the NFT space with its dedicated NFT marketplace, Wonderland. Here, users can buy and sell NFTs on the KCC blockchain and Polygon, with plans to support additional blockchains like Ethereum, BSC, and SLP.
Kucoin NFTs
Lastly, for those who prefer trading in a non-custodial manner, Kucoin recently launched the Halo Wallet. This is a Web 3 wallet available as a mobile app or as a Chrome extension, offering a more secure and private way to manage and trade digital assets.
Kucoin Web 3 Wallet
In summary, Kucoin offers a wider array of services than Coinex making it a more versatile platform suitable to both beginners as well as experienced traders.
When it comes to trading fees, both Coinex and Kucoin offer competitive rates with some key differences to consider.
For spot trading, Coinex charges a standard maker and taker fee of 0.2%, which is quite reasonable. However, users can lower their fees further by holding CET tokens. For instance, those with more than 1,000 CET tokens can enjoy a maker and taker fee of just 0.18%.
Coinex spot fees
For futures trading, Coinex charges a maker fee of just 0.03% and a taker fee of 0.05%. These rates are highly competitive and make Coinex an attractive choice for those looking to trade futures.
Once they hold at least 1,000 KCS tokens, they can enjoy a reduced fee of 0.09%. For futures trading, Kucoin charges a maker fee of 0.02% and a taker fee of 0.06%.
If you're looking for an exchange that supports fiat deposits, then Coinex is not the one for you. Unfortunately, they don't offer any fiat deposit options.
This means that if you want to buy cryptocurrencies on Coinex, you'll have to do so via third-party providers like Banxa, Mercuryo, MoonPay and Advcash.
Coinex buy crypto with Banxa
However, it's important to note that the fees for buying cryptocurrencies through these providers can be quite high, ranging between 3-8% commissions.
On the other hand, if you're looking for an exchange that supports fiat deposits, then Kucoin get the job done. They support the deposit of fiat currencies for 28 different currencies such as EUR, AUD, CHF, GBP, RUB and SEK.
Kucoin fiat deposits
However, it's worth noting that almost all fiat deposit options on Kucoin are with Visa and Mastercard. This means that if you're depositing with Visa and Mastercard, you'll be charged a high 3.8% deposit fee. Kucoin also does offer support for lower cost fiat deposits for EUR with either Bank Transfer (1 EUR) or Advcash (0% fee).
Coinex is a cryptocurrency exchange that only allows for the withdrawal of cryptocurrencies.
Therefore, users cannot withdraw fiat currencies from the platform. However, they can withdraw their cryptocurrencies with varying fees depending on which blockchain is being used.
For instance, those who wish to withdraw Bitcoin will have to pay a fee of 0.00014 BTC, while the fee for Ethereum withdrawals is 0.003 ETH and 0.01 SOL for Solana.
On the other hand, Kucoin allows for the withdrawal of fiat currencies like EUR using SEPA. To withdraw using this method, users will be charged a fee of 5 EUR.
Kucoin fiat withdrawals
When it comes to cryptocurrency withdrawals, the fees charged by Kucoin are 0.001 BTC for Bitcoin, 0.01 ETH for Ethereum, and 0.01 SOL for Solana.
Coinex and Kucoin are both well known cryptocurrency exchanges, each with its own unique features and strengths. Upon analyzing their offerings, it becomes clear to us that Kucoin has an edge over Coinex.
The main benefits of Coinex is that offers a range of trading options including spot, margin, and futures trading across over 600 cryptocurrencies.
The platform, which is tailored for beginners, offers a user-friendly interface with easy-to-follow tutorials.
The signup process is straightforward and quick, with users able to start trading immediately without KYC verification.
Coinex also provides adjustable leverage from 3X to 100X. However, its trading volume is not within the top 20, and it doesn't support fiat deposits or withdrawals. The only way to purchase cryptocurrencies is through third-party providers, which have high fees.
On the other hand, Kucoin offers a broader variety of services, including spot and margin trading, futures, staking, and lending. It supports over 700 cryptocurrencies and also offers an NFT marketplace.
The signup process is similarly quick to Coinex and KYC verification is not mandatory. Kucoin consistently ranks within the top 10 in terms of trading volume, indicating high liquidity. It provides a maximum leverage of up to 100X and offers a larger workforce compared to Coinex.
Kucoin also supports fiat deposits for 28 currencies via Visa and Mastercard, although it charges a high deposit fee. Contrast this with Coinex with currently does not offer support for any fiat currencies.
In summary, while both exchanges offer good services and are suitable for both beginners and experienced traders, Kucoin offers a more comprehensive range of services and products, supports more cryptocurrencies, and offers superior liquidity.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
