Binance vs KuCoin
Side-by-side comparison from our sourced exchange data. A dash means we haven't verified that fact — we don't fill gaps with guesses.
| Binance | KuCoin | |
|---|---|---|
| Editorial score | — | — |
| Founded | 2017 | 2017 |
| Headquarters | — | Seychelles (founded in China, later relocated via Singapore to the Seychelles); terms governed by Turks and Caicos Islands law |
| Spot maker (base) | 0.1% | 0.1% |
| Spot taker (base) | 0.1% | 0.1% |
| Listed assets | ~600 | ~1,000 |
| KYC | Required | Required |
| Notably unavailable | United States (Binance.com), Iran, North Korea, Syria | United States (incl. territories), Singapore, Mainland China and Hong Kong, Malaysia |
How they differ
Binance, founded in 2017, is a global venue with roughly 600 listed assets, card purchases and a peer-to-peer marketplace. KuCoin, also founded in 2017, is based in Seychelles with terms governed by Turks and Caicos Islands law and states roughly 1,000 listed assets. Both are aimed at users who want wide token coverage rather than a minimal, curated list.
Base spot fees start at the same place: 0.1% maker and taker. Binance discounts by 25% to 0.075%/0.075% when fees are paid in BNB. KuCoin's base LV0 rate of 0.1% applies to Class A pairs, with a 20% discount when fees are paid in KCS and higher fees on less liquid Class B and C pairs. So the headline rate on KuCoin depends on which pair you trade, while Binance's varies with VIP volume tier.
Verification is mandatory on both. KuCoin made KYC compulsory on 15 July 2023; existing unverified accounts lost deposit and most trading access while keeping withdrawals. Binance limits unverified accounts to withdraw-only in the same way. Their exclusion lists are long and only partly overlapping. Binance.com is closed to US residents and to new UK sign-ups since October 2023. KuCoin bars the United States and its territories, Singapore, mainland China and Hong Kong, Malaysia, Kazakhstan, Uzbekistan, Ontario and British Columbia in Canada, France, the Netherlands, and five occupied Ukrainian regions.
KuCoin carries the heavier incident record: a September 2020 hot wallet compromise draining about $281M, covered by recovery and insurance, and a January 2025 guilty plea to a US charge of operating an unlicensed money transmitting business, with about $297M in forfeiture and fines and an agreed US market exit of at least two years. Binance's 2019 loss of about $40.7M was covered from its SAFU fund. KuCoin holds a MiCAR authorisation in Austria; Binance holds Dubai VARA and ADGM FSRA permissions.