Exchange Review

Bybit vs KuCoin

Summary: In this guide, we compare two of the largest cryptocurrency exchanges that do not require KYC (verification), KuCoin & Bybit. Bybit is the better exchange as it has more features, lower fees and better overall security.

By 
Jennifer Leong
 on  
August 13, 2022

Bybit is a cryptocurrency derivatives exchange that offers trading in BTC, ETH, EOS and XRP perpetual contracts with up to 100x leverage. The company is headquartered in Singapore and has offices in Hong Kong, China, the United Kingdom and the United States. It is the best futures/derivatives trading exchange in the world.

KuCoin is a cryptocurrency exchange that offers trading in a wide range of cryptocurrencies including stable coins, memecoins, DeFi coins, altcoins and more. The company is based in Hong Kong and has offices in China, Singapore, Canada, and the United Kingdom.

Table of Contents

Is Bybit better than KuCoin?

For a quick summary, yes Bybit is a better cryptocurrency exchange when comparing with KuCoin. It offers overall lower fees, more features, a better NFT marketplace and significantly more cryptocurrency staking options.

If you're interested in learning more about Bybit and its features, you can visit our Bybit Review.

Bybit Home Page
Bybit Home Page

Bybit vs KuCoin Fee Schedule

KuCoin has some of the lowest trading, deposit & withdrawal fees available. It does not charge any fees to deposit on the platform but withdrawals are subject to a small fee to cover the cost of the gas (transaction) fees. You can refer to the below list for the trading fee schedule.

  • Spot Trading Fee: 0.1%
  • Makers & Takers Fee (Derivatives Trading): 0.02% & 0.06%

Bybit also offers extremely low fees, just beating KuCoin on trading and withdrawal fees. Similar to KuCoin, Bybit does not charge a fee for deposits but also does not charge fees to deposit. Refer to the information below for trading fee details.

  • Spot Trading Fee: 0.1%
  • Makers & Takers Fee: 0.01% & 0.06%

Winner: Bybit wins with its clearly lower futures trading fees and not charging fees for withdrawals.

Features & Supported assets

KuCoin has a few features available on its platform including spot & futures trading, a P2P marketplace, cryptocurrency staking and an NFT marketplace. It also supports the trading of over 700 cryptocurrencies including memecoins, altcoins, stablecoins, DeFi coins and Metaverse coins.

Bybit has a significantly more impressive suite of features available including an futures & spot trading, options trading, an NFT marketplace, a P2P exchange, Launchpad & Launchpool features, 5 different types of staking options and an online gaming platform.

Winner: Bybit offers a myriad of features that are much more sophisticated than KuCoin's features.

Bybit Staking Options
Bybit Crypto Staking Options

Which exchange is more secure, Bybit or KuCoin?

Bybit is not currently regulated in Australia or any country, and this is why it does not require its users to verify their identities. This isn't neccessarily a bad thing, it just means that they don't have to abide by any countries cryptocurrency regulations. It has never been the subject of any online attacks and has high security measures in place to prevent cyber assault.

KuCoin is also not regulated in any country and therefore does not require its users to KYC. However, KuCoin has been subjected to many online cyber attacks. The most recent one was in 2021, hackers were able to infiltrate KuCoins accounts and get away with $280M worth of users funds.

Winner: Bybit is the safer exchange as its security has never been penetrated and it is insured by tier 1 banks.

Customer Support and Social Media

KuCoin has an excellent support team and offer a 24/7 Live Chat feature, you can also contact them via email, Telegram, Facebook, Twitter, Reddit, Youtube, LinkedIn, Instagram, Medium and VK.

Bybit also offers a 24/7 Live Support feature but in over 30 languages. In addition to live support they can be reached on email, Telegram, Discord, Youtube, Reddit, Twitter, Facebook, Instagram, TikTok, LinkedIn, Trust Pilot & Medium. 

Winner: Bybit offers more diverse support options and is available on more social media platforms.

Bybits Discord
Bybits Discord

Mobile App

KuCoin has one of the best cryptocurrency investing applications available on mobile. The KuCoin app has a high 4.7-star rating from 15K reviews and is ranked #107 in the Finance category on the App store and it is ranked 4.4 stars from 100K reviews on the Google Play store.

Bybit offers its app on iOS and Android. On the app store it has 3.9 stars out of 900 reviews and is ranked #56 overall in Finance. On the Google Play store 4.1 stars from 68K reviews.

Winner: KuCoin has considerably higher ratings and reviews than Bybit does.

KuCoin App iPhone Screenshot
KuCoin App iPhone Screenshot

Should I use Bybit over KuCoin if I want to avoid KYC?

Yes, if you would like to avoid verifying your identity to use a cryptocurrency exchange, Bybit is the best platform to use. It has never been subjected to any cyber attacks, offers high security measures including 2FA, has significantly more features and lower fees.

Visit Bybit

Author Bio

Jennifer just finished her Masters in Finance and is leading our team on the traditional banking & fintech research and content.

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