Why should I use Kucoin over Binance?

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Quote from: Silberman on December 15, 2021, 05:27:40 PM

Quote from: Natalim on December 12, 2021, 07:06:06 PM

I didn't use Kucoin for trading but have some experience in the past and yes, it never requires KYC for the small withdrawal of less than 1BTC but for bigger amounts, they are strictly asking for it especially for a newly created account. But what I guess, this mandatory KYC will soon to apply for all exchanges and I'm still going to believe that the use of exchanges is safe compared to P2P transactions.

We know that eventually this is something that is going to happen to all exchanges, the whole point of decentralization is to not give to the governments and banks any focal point to attack, and that is what centralized exchanges really are, so I am not surprised that governments all over the world are trying to force exchanges to apply KYC policies to all their clients, which means that those that are serious about maintaining their privacy will have no choice but to begin to use DEXs on the near future.

DEX is something we do need but we know that we are dealing with fiat when making out conversions thats why we do end up on using CEX.

Its unavoidable kind of situation and we are really heading there and we've seen on what happened to Binance.It becomes big and it did really

make out some noise and now government sets in then regulation comes in which terms and conditions been changed.Nothing surprising on here.

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Quote from: Natalim on December 12, 2021, 07:06:06 PM

I didn't use Kucoin for trading but have some experience in the past and yes, it never requires KYC for the small withdrawal of less than 1BTC but for bigger amounts, they are strictly asking for it especially for a newly created account. But what I guess, this mandatory KYC will soon to apply for all exchanges and I'm still going to believe that the use of exchanges is safe compared to P2P transactions.

We know that eventually this is something that is going to happen to all exchanges, the whole point of decentralization is to not give to the governments and banks any focal point to attack, and that is what centralized exchanges really are, so I am not surprised that governments all over the world are trying to force exchanges to apply KYC policies to all their clients, which means that those that are serious about maintaining their privacy will have no choice but to begin to use DEXs on the near future.

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At-risk to be off-topic, A few days ago, I was showing some basics to my friend who is new to all of this. I am surprised when I realize that FTX is in the top 3 exchanges merged by trading volume.
they seem to be something in between Binance and Kucoin. With only 1st level of verification, it's possible to withdraw up to $2000USD daily, with some altcoins are not possible to trade without KYC level 2 (XRP for example).
can definitely be a third option with these two mentioned by OP.

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Quote from: Slow death on December 13, 2021, 07:19:27 PM

in the last few months Binance has become an annoying exchange, they have a good platform for day trading but they have had problems that are annoying, sometimes i'm trading and when i want to buy i see that i logged out by myself and the login process until arrival the time to buy the coin is already too late because the coin has risen a lot and their support takes a while to respond that I don't even waste time complaining about it anymore

It is possible that this is due to the increased security requirements of the exchange and your account in particular. Recently, I have also encountered such a problem and noticed that most often it happens after changing the IP, but I am ready to put up with it if it is related to the conservation of my balance.

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Quote from: Fredomago on December 13, 2021, 01:57:43 PM

Quote from: blockman on December 13, 2021, 11:50:09 AM

Yeah, anytime they can mandate that. But as far as I know, I haven't seen any announcement from them. I also prefer binance so for those that are in binance, kyc isn't a matter anymore since they're requiring it. Kucoin might also follow that decision of binance.
Whether there's no official announcement yet from the kucoin management, we just better be known and prepared that it's really going to happen.

We can't remove that fact. If KuCoin also being mandated by the government, they don't have any option but to implement these rules, Binance at first tries to provide services with their clients without providing KYC but has limited daily usages. That kind of luxury still being enjoyed by people who are using KuCoin.

No update yet in regard to any KYC requirement, traders and investors still have that option to continue using KuCoin with limited
amount of daily transactions.

Yes, we still have the time to enjoy that perk of having no KYC using Kucoin. Those that don't like to be passed on with binance's mandated KYC.
There's a choice still to make and that's with kucoin as with non-verified account, they're still able to trade and enjoy that feature for that exchange.

Slow death

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in the last few months Binance has become an annoying exchange, they have a good platform for day trading but they have had problems that are annoying, sometimes i'm trading and when i want to buy i see that i logged out by myself and the login process until arrival the time to buy the coin is already too late because the coin has risen a lot and their support takes a while to respond that I don't even waste time complaining about it anymore

LUCKMCFLY

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Quote from: bhooscream on December 08, 2021, 06:56:12 PM

I think that both are worthy and also reputable for trading.
I personally use both, but more to Binance.
Because sometimes, there are some coins or tokens not available on Binance but available on Kucoin and vice versa.
However if I must choose one of them, I think I will go to Binance because I have done KYC, it may be stupid to submit my data, but I already sent it Grin

And so far, I have no issues in Binance and keeps getting what I want. Hopefully it will be safe enough

You are right, in fact Kucoin is one of the exchanges that I first became familiar with in 2017 when I started in the crypto world, however Binance is for me the best, and as you say and afimras there are some tokens or coins that are in Kucoin and not in Binance, I also spent my KYC in Binance and it went without any problem, it should be noted that I have not entered Kucoin again and I did not know that they were asking for KYC, although that is already a normal regulation almost for all exhchnges , but in terms of security and trust, for me the best is Binance as well.

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Quote from: Fredomago on December 13, 2021, 01:57:43 PM

We can't remove that fact. If KuCoin also being mandated by the government, they don't have any option but to implement these rules, Binance at first tries to provide services with their clients without providing KYC but has limited daily usages. That kind of luxury still being enjoyed by people who are using KuCoin.

No update yet in regard to any KYC requirement, traders and investors still have that option to continue using KuCoin with limited
amount of daily transactions.

The only risk of having an unverified account in kucoin is they don't offer the same support in case of hacked, theft and fraud compared to verified ones. It was mentioned here

Quote from: https://www.fool.com/the-ascent/cryptocurrency/kucoin-review/

There are a couple of risks here. First, if the U.S. cracks down on people accessing unlicensed exchanges, your assets might get frozen. Second, KuCoin doesn't offer the same support to unverified accounts in the case of hacking, fraud, or theft. So proceed with caution if you're a U.S.-based user.

And I think it's not only pertaining to US users but for those who have unverified accounts.

Though I didn't checked Kucoin's terms related to this but if this is true (probably) then that's really a huge risk. I remember a hacked happened there but good thing kucoin refunded the affected accounts not sure if all of them though.

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Quote from: Fredomago on December 13, 2021, 01:57:43 PM

Quote from: blockman on December 13, 2021, 11:50:09 AM

Quote from: Russlenat on December 12, 2021, 04:33:24 PM

Quote from: blockman on December 11, 2021, 04:00:47 PM

Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Are you sure? AFAIK, they are still one of the exchanges that don't mandate it. Maybe for some cases since I've people telling that kucoin still don't require mandatory KYC and they still got a good limit from those unverified accounts.

There's no announcement from Kucoin yet that KYC is a compulsory thing, but since this is a centralized exchange, we better expect that they can require a KYC anytime and if we don't comply, they could freeze our account. So my choice would be Binance, getting fully verified before I start trading makes me feel comfortable and safe from any questions going further.

Yeah, anytime they can mandate that. But as far as I know, I haven't seen any announcement from them. I also prefer binance so for those that are in binance, kyc isn't a matter anymore since they're requiring it. Kucoin might also follow that decision of binance.
Whether there's no official announcement yet from the kucoin management, we just better be known and prepared that it's really going to happen.

We can't remove that fact. If KuCoin also being mandated by the government, they don't have any option but to implement these rules, Binance at first tries to provide services with their clients without providing KYC but has limited daily usages. That kind of luxury still being enjoyed by people who are using KuCoin.

No update yet in regard to any KYC requirement, traders and investors still have that option to continue using KuCoin with limited
amount of daily transactions.

I think, for the moment, that's the main advantage of kucoin over binance. For those who don't want to submit KYC, they will favor Kucoin. But I believe, sooner or later, kucoin will also implement compulsory kyc as they abide the laws of where they are legally registered. So users can take this advantage for the moment but once they require KYC, I believe, a lot of users will still go for binance because of higher liquidity and other varied services. Anyway, this kind of decision depends on the trader himself, because it depends on his goals why he is using a specific exchange, either for security, liquidity, availability of trading pairs and others.

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Quote from: blockman on December 13, 2021, 11:50:09 AM

Quote from: Russlenat on December 12, 2021, 04:33:24 PM

Quote from: blockman on December 11, 2021, 04:00:47 PM

Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Are you sure? AFAIK, they are still one of the exchanges that don't mandate it. Maybe for some cases since I've people telling that kucoin still don't require mandatory KYC and they still got a good limit from those unverified accounts.

There's no announcement from Kucoin yet that KYC is a compulsory thing, but since this is a centralized exchange, we better expect that they can require a KYC anytime and if we don't comply, they could freeze our account. So my choice would be Binance, getting fully verified before I start trading makes me feel comfortable and safe from any questions going further.

Yeah, anytime they can mandate that. But as far as I know, I haven't seen any announcement from them. I also prefer binance so for those that are in binance, kyc isn't a matter anymore since they're requiring it. Kucoin might also follow that decision of binance.
Whether there's no official announcement yet from the kucoin management, we just better be known and prepared that it's really going to happen.

We can't remove that fact. If KuCoin also being mandated by the government, they don't have any option but to implement these rules, Binance at first tries to provide services with their clients without providing KYC but has limited daily usages. That kind of luxury still being enjoyed by people who are using KuCoin.

No update yet in regard to any KYC requirement, traders and investors still have that option to continue using KuCoin with limited
amount of daily transactions.

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Both Kucoin and Binance have a comparable business technique. They are cryptographic money trades that deal admittance to many altcoins that are generally difficult to buy They have a comparable charge structure beginning at 0.1% and lessening this expense as you climb the exchanging levels.

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Kucoin and Binance are two grounded crypto trades. Despite the fact that they utilize a comparative business technique and have a comparable charge structure there are slight contrasts between the stages You will most likely find either Kucoin or Binance will suit your particular necessities somewhat better.

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Quote from: Russlenat on December 12, 2021, 04:33:24 PM

Quote from: blockman on December 11, 2021, 04:00:47 PM

Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Are you sure? AFAIK, they are still one of the exchanges that don't mandate it. Maybe for some cases since I've people telling that kucoin still don't require mandatory KYC and they still got a good limit from those unverified accounts.

There's no announcement from Kucoin yet that KYC is a compulsory thing, but since this is a centralized exchange, we better expect that they can require a KYC anytime and if we don't comply, they could freeze our account. So my choice would be Binance, getting fully verified before I start trading makes me feel comfortable and safe from any questions going further.

Yeah, anytime they can mandate that. But as far as I know, I haven't seen any announcement from them. I also prefer binance so for those that are in binance, kyc isn't a matter anymore since they're requiring it. Kucoin might also follow that decision of binance.
Whether there's no official announcement yet from the kucoin management, we just better be known and prepared that it's really going to happen.

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Quote from: Mahanton on December 11, 2021, 03:46:58 PM

Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Regardless, and back to the topic, determining which exchange should you use depends on your reason why should you want to use them. Users have different preferences in the first place. As for my reason, I use Binance because of direct P2P exchanges without dealing first on our local exchanges and most of my coins on my portfolio are actively trading there.

Nope. its not still mandatory or compulsory for someone to make out some KYC. They do still have that 1 BTC limit per day on unverified accounts.
https://support.kucoin.plus/hc/en-us/articles/4401857433241-How-To-Complete-KYC-Verification-PC-Version-
https://www.kucoin.com/news/announcement-regarding-the-adjustment-of-daily-withdrawal-limit

I did make out some research but it turns out they havent announced any new limitations.

I didn't use Kucoin for trading but have some experience in the past and yes, it never requires KYC for the small withdrawal of less than 1BTC but for bigger amounts, they are strictly asking for it especially for a newly created account. But what I guess, this mandatory KYC will soon to apply for all exchanges and I'm still going to believe that the use of exchanges is safe compared to P2P transactions.

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Well, this question always matters to traders which they prefer.
If you want an exchange platform that the more concern is privacy then you can go in Kucoin but if your concern is to trade and find an exchange platform that has a large volume of coins and traders, Binance is a good place for you and when you are ready to have heavy regulation, that is ho Binance can work. Overall exchnage platform Binance is still the best, perhaps there is nothing wrong if you entrust to them your privacy and make money to them.

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Quote from: blockman on December 11, 2021, 04:00:47 PM

Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Are you sure? AFAIK, they are still one of the exchanges that don't mandate it. Maybe for some cases since I've people telling that kucoin still don't require mandatory KYC and they still got a good limit from those unverified accounts.

There's no announcement from Kucoin yet that KYC is a compulsory thing, but since this is a centralized exchange, we better expect that they can require a KYC anytime and if we don't comply, they could freeze our account. So my choice would be Binance, getting fully verified before I start trading makes me feel comfortable and safe from any questions going further.

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Quote from: bhooscream on December 08, 2021, 06:56:12 PM

I think that both are worthy and also reputable for trading.
I personally use both, but more to Binance.
Because sometimes, there are some coins or tokens not available on Binance but available on Kucoin and vice versa.
However if I must choose one of them, I think I will go to Binance because I have done KYC, it may be stupid to submit my data, but I already sent it Grin

And so far, I have no issues in Binance and keeps getting what I want. Hopefully it will be safe enough

People have different preferences, if you do not mind going through KYC then choosing binance to be exchange where you do this is a good choice, because as we know there are many exchanges with a bad reputation asking for that information and we do not know what they may do with it, so in that sense binance is a safe choice, however there are some people that prefer to maintain a higher level of privacy, and in that case then Kucoin seems like the obvious best choice among the two.

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Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Are you sure? AFAIK, they are still one of the exchanges that don't mandate it. Maybe for some cases since I've people telling that kucoin still don't require mandatory KYC and they still got a good limit from those unverified accounts.

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Quote from: harizen on December 11, 2021, 03:38:38 AM

Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Regardless, and back to the topic, determining which exchange should you use depends on your reason why should you want to use them. Users have different preferences in the first place. As for my reason, I use Binance because of direct P2P exchanges without dealing first on our local exchanges and most of my coins on my portfolio are actively trading there.

Nope. its not still mandatory or compulsory for someone to make out some KYC. They do still have that 1 BTC limit per day on unverified accounts.
https://support.kucoin.plus/hc/en-us/articles/4401857433241-How-To-Complete-KYC-Verification-PC-Version-
https://www.kucoin.com/news/announcement-regarding-the-adjustment-of-daily-withdrawal-limit

I did make out some research but it turns out they havent announced any new limitations.

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Correct me if I'm wrong but I think Kucoin already mandates the KYC requirements? If my memory served me right, they ask me for a KYC before I can withdraw. That was a few months ago and I'm sure I remember it right.

Regardless, and back to the topic, determining which exchange should you use depends on your reason why should you want to use them. Users have different preferences in the first place. As for my reason, I use Binance because of direct P2P exchanges without dealing first on our local exchanges and most of my coins on my portfolio are actively trading there.

Topic: Why should I use Kucoin over Binance? (Read 522 times)