Introduction: Are you trying to decide between Gate.io and Kucoin to purchase digital coins but feel stuck? This article will provide you with a breakdown and comparison of the two exchanges. We will look at how simple they are to use, deposit methods, fees and more to help you in your decision.
Gate.io and Kucoin are two popular cryptocurrency exchanges with different strengths. Gate.io was founded in 2013 and is headquartered in the Cayman Islands. The exchange has over 12 million users across the 184 countries where it operates.
Kucoin was founded in 2017 and is based in the Seychelles. It boasts an even larger user base of 20 million and a staff of 600 that helps serve customers across 190 countries. Kucoin has the more popular apps with over 5 million downloads compared to Gate.io's 1 million.
Gate.io and Kucoin both make it easy for users to sign up for an account. It takes less than a minute to sign up for Gate.io and Kucoin, and the KYC verification process is relatively straightforward. However, Gate.io requires users to verify their identity via KYC, whereas Kucoin does not.
Moreover, the processing time of KYC verification with Gate.io may be a few hours to 24 hours in most cases, while it can take up to 2-3 business days on Kucoin.
Gate.io and Kucoin are two popular cryptocurrency exchanges that offer a variety of trading services for users. While both exchanges provide spot, futures and margin trading, Gate.io also provides perps and options trading which is not available on Kucoin.
Gate.io has an edge with additional services such as OTC desk, copy trading and trading bots which are not available on Kucoin. Kucoin on the other hand has an advantage by offering a Web 3 Wallet and debit card which is not available for Gate.io users.
Gate.io also offers higher leverage with up to 50x on futures and 10x on margin compared to Kucoin's 100x on futures and 10x on margin. With a larger selection of services, Gate.io is the better choice for traders who want to access more features on a single platform.
With a larger selection of services, Gate.io is the better choice for traders looking to access more features on a single platform.
When it comes to trading fees, both Kucoin and Gate.io have an advantage over the other in different categories.
Kucoin offers lower spot trading fees of 0.1% for makers and takers compared to the 0.2% offered by Gate.io 0.2%. Gate.io however offers lower futures trading fees for makers (0.015%) and takers (0.05%) compared to the 0.02% and 0.06% offered by Kucoin.
When it comes to deposit options, Kucoin and Gate.io have distinct differences. Kucoin offers a wide range of fiat deposit options, including support for 28 different currencies via Visa and Mastercard, which makes it the better choice for those looking to deposit fiat. However, it's important to note that these deposits come with a high 3.8% fee.
Gate.io, on the other hand, does not support fiat deposits, but provides instant crypto purchases with credit/debit card via MoonPay, Banxa, Advacash and Simplex. Despite this convenience, the transaction fees for these options range from 2-5%.
When it comes to fiat withdrawals, Gate.io does not offer any while Kucoin currently only offers SEPA withdrawals for EUR. Kucoin charges a 5 EUR fee for SEPA withdrawals. While Kucoin is obviously better than Gate.io when it comes to fiat withdrawals, this is not a strength for either exchange.