If you're looking for a reputable cryptocurrency exchange to trade on, you might be wondering whether KuCoin or Coinbase is the better option. Both exchanges are fairly popular in Australia, but they each have their own unique strengths and weaknesses. So, which one should you choose?
KuCoin has been gaining in popularity lately due to its low fees and wide range of cryptocurrencies available. However, Coinbase still remains one of the most popular exchanges in the world, thanks to its user-friendly interface and ease of use. So which is the better option for you?
KuCoin vs Coinbase Australia:
Comparison Table
Header |  |  |
|---|---|---|
Coins | 700+ | 160+ |
Trading Fee | 0.1% | 4.49% |
Deposit Fee | Crypto: Free; AUD payments: 3.1-12.3%, depending on method | Included in trading fee |
Withdraw Fee | Doesn’t support fiat currency withdrawals | Doesn’t support AUD withdrawals |
Payment Options | Credit and debit cards, Paypal, Apple Pay | Debit card |
Pros | - Lower fees than Coinbase - Supports 700+ cryptocurrencies - Free bots to automate trades - Advanced markets for experienced traders | - Insurance coverage for digital assets - User-friendly interface - Supports 160+ cryptocurrency coins |
Cons | Doesn’t support fiat currency withdrawals | - Doesn’t support crypto selling in Australia - Cannot withdraw AUD - Higher fees |
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Header | | |
|---|---|---|
Coins | 700+ | 160+ |
Trading Fee | 0.1% | 4.49% |
Deposit Fee | Crypto: Free; AUD payments: 3.1-12.3%, depending on method | Included in trading fee |
Withdraw Fee | Doesn’t support fiat currency withdrawals | Doesn’t support AUD withdrawals |
Payment Options | Credit and debit cards, Paypal, Apple Pay | Debit card |
Pros | - Lower fees than Coinbase - Supports 700+ cryptocurrencies - Free bots to automate trades - Advanced markets for experienced traders | - Insurance coverage for digital assets - User-friendly interface - Supports 160+ cryptocurrency coins |
Cons | Doesn’t support fiat currency withdrawals | - Doesn’t support crypto selling in Australia - Cannot withdraw AUD - Higher fees |
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KuCoin Pros & Cons
Pros
Cons
Coinbase Pros & Cons
Pros
Cons
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KuCoin vs Coinbase Features
KuCoin is the perfect place for experienced traders who want to access a range of markets. In addition to spot trading, you can also access margin trading, futures trading, and the P2P marketplace on KuCoin. If that's not enough, KuCoin also has free trading bots that make it easy to get started with automated transactions.
If you're looking to borrow or lend cryptocurrencies, KuCoin has you covered there too! Their huge selection of coins - over 700+ - is sure to have something for everyone. Did we mention that KuCoin also has its own cryptocurrency (KCS)? When you pay your fees with KCS, you receive a 20% discount.
Coinbase, on the other hand, is a much more traditional exchange. They offer direct purchasing for a limited selection of cryptocurrencies - currently160+. This platform doesn't offer any margin or futures trading, but it makes up for it with ease of use. Their user interface is simple and straightforward, making it simple for first-timers to get started. Plus, they offer a mobile app so you can trade on the go.
If you want to learn more about cryptocurrency, you can take advantage of their Coinbase Earn feature, where you can watch short videos about various coins and earn free cryptocurrency in the process.
Features: When comparing in terms of features, the winner is KuCoin. This exchange offers over 700 coins, advanced trading markets, crypto lending and borrowing and free trading bots.
KuCoin vs Coinbase Fees
KuCoin doesn't support fiat currency deposits and withdrawals. However, if you want to instantly buy crypto, you can use the supported methods to fund your account at the time of purchase. There are no clear guidelines showing how much it'll cost you for each payment method on their website, because it is dependent on their payment processors. After testing it out, we determined the fee to range between 3.1% - 12.3%.
However, most KuCoin users will deposit crypto into the platform free of charge, and take advantage of the low trading fees of just 0.1%. You can even have it reduced to 0.08% when you use the KuCoin Currency (KCS) to pay.
Like KuCoin, Coinbase does not support AUD deposits and withdrawals, so you can only buy crypto directly with a debit card. You cannot sell your crypto, but only transfer it to a crypto wallet or another exchange. Debit card is the only payment method supported in Australia when buying crypto on Coinbase. It costs 4.49% to make a purchase of crypto using Coinbase.
Fees: KuCoin wins this round, as it has extremely low trading fees of 0.1% which can be reduced to 0.08% if you pay with KCS cryptocurrency.
Number of Cryptocurrencies
KuCoin offers 700+ cryptocurrency coins.
Coinbase offers 160+ coins.
Number of cryptocurrencies: KuCoin boasts over 700+ different cryptocurrency coins, while Coinbase only offers 160+. With KuCoin, you'll have access to a much wider range of options.
Deposit Methods
Both KuCoin and Coinbase don't support fiat currency deposits in Australia, but you can buy crypto directly. This means that you can't pre-fund your account, but direct crypto purchases are supported.
KuCoin supports Credit and debit cards, Paypal, and Apple Pay.
Coinbase only supports debit card purchases.
Deposit methods: KuCoin wins hands-down, since it offers more payment options. You can also deposit crypto free of charge directly into your account to begin trading straight away.
KuCoin vs Coinbase Australia Security
KuCoin is committed to providing the most secure cryptocurrency trading experience possible for our users. Their advanced security features include multi-level encryption, micro-withdrawal wallets, and multi-factor authentication. Plus, they have an internal risk control department that monitors daily transactions and takes immediate action if any suspicious activity is detected.
Despite implementing stringent security measures, KuCoin was hacked in 2020, and cryptocurrency amounting to $150 million was stolen. They however, managed to recover part of the funds stolen, and the rest was covered by insurance.
Coinbase is also a very secure platform with multiple layers of security, including two-factor authentication, data encryption and offline storage for 98% of their crypto assets. There's a comprehensive insurance policy to cover funds stored online. They also have special tools like Address Book and Coinbase Vault to keep your account secure.
Security: Both platforms offer users a secure trading experience and have implemented multiple security measures to protect user funds. However, KuCoin was hacked, and $150 million was stolen, so Coinbase gets the edge here. In addition, Coinbase is based in the USA, where there are high compliance and security standards and stringent regulations are enforced to protect users further.
KuCoin vs Coinbase Summary
In this comparison of KuCoin vs Coinbase, KuCoin comes out on top. It offers more features for experienced traders, a wider selection of cryptocurrencies, and supports more payment methods than Coinbase.
If you are an inexperienced user, Coinbase may seem like the better choice, however in Australia, it is not a viable option, since the purchase price of crypto is so high at 4.49%, and it lacks the basic feature of being able to sell crypto and withdraw AUD. A better option is Digital Surge, which has free AUD deposits and withdrawals, and low trading fees and spreads.If you are still doing some research, have a read of our KuCoin review and Coinbase review. You can also have a look at this article on the best crypto exchanges in Australia (read here).
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