Finding the perfect cryptocurrency exchange that suit your needs can be a daunting task. But don't worry, we're here to help! In this in-depth comparison, we're pitting two popular exchanges against each other: Gemini vs Kucoin. We'll be taking a closer look at their unique features, user experience, pros and cons so that you can decide for yourself which one makes most sense to use!
Are you looking for a reliable and trustworthy cryptocurrency exchange? Look no further than Gemini and Kucoin! Both exchanges offer a wide range of cryptocurrencies to choose from, as well as user-friendly interfaces and top-notch security measures.
Gemini, founded in 2014 by Cameron and Tyler Winklevoss, is registered in the United States with headquarters in New York. With over 800 employees and available in 70 countries, Gemini is licensed by NYDFS in New York and VASP in Ireland. The exchange offers a selection of 110 cryptocurrencies and has over 1 million Android downloads with a 3.8 star rating based on 50,000 reviews.
Gemini website
Kucoin, on the other hand, was founded in 2017 and is registered in Seychelles with headquarters in Singapore. With over 600 employees and available in 207 countries, Kucoin offers over 700 cryptocurrencies to choose from and has over 20 million users and 5 million app downloads.
Kucoin App
Gemini is a great option for those who value regulation and compliance as it is licensed by reputable authorities in the Unites States. On the other hand, Kucoin is likely to appeal more to those who are looking for a larger selection of altcoin and a more global reach. Ultimately, the choice between Gemini and Kucoin will depend on your individual needs and preferences.
Gemini vs Kucoin: Signup & KYC
The signup process and KYC requirements differ between Gemini and Kucoin. To create an account on Gemini, users need to enter their full name, password, and country of residence. After that, users must complete the KYC verification process, which requires uploading an ID. The verification process may take up to a few days to get processed. Once completed, users can enjoy full trading and transfer capabilities.
Gemini signup process
On the other hand, Kucoin offers a quicker signup process with only basic email signup being required. Users can start buying and selling cryptocurrencies without KYC verification. However, if users wish to access higher trading limits or fiat currency deposits, KYC verification is required. The basic verification can be approved in hours, while KYC verification can take up to 2-3 business days.
Gemini vs Kucoin: Products & Services
In terms of products and services, Gemini provides secure and reliable spot trading, wallet, and custody services. It is regulated by the New York State Department of Financial Services and is known for its high levels of security and transparency.
Gemini offers a very basic yet slick user experience that is suitable for beginners. Although the platform doesn't offer much in terms of variety of trading products, it is a great starting point for those who are new to the world of cryptocurrency. Gemini also offers its own stablecoin, the Gemini dollar, which can be used for trading on the platform.
Gemini products and features
On the other hand, Kucoin offers a much wider range of trading services such as spot, futures, perps, margin, and options trading. Kucoin also provides additional features such as staking, lending and borrowing, NFT marketplace, and a Web 3 wallet. Another great feature of Kucoin is its sleek and well-designed user interface, which is kinda similar to OKX, Bybit and Binance. While offering a wide variety of trading services, Kucoin can be a bit overwhelming to use for beginners.
Kucoin website
In terms of trading volume, Gemini lags behind Kucoin with an average of $40M 24h spot volume compared to Kucoin's average of $600M. Kucoin also offers leverage of up to 50x for futures and 10x for margin which is not available on Gemini. Gemini on the other hand provides proof of reserves which can be trusted more than other exchanges considering it's based in the US.
Let's continue by taking a closer look at the trading fees of Gemini and Kucoin. Gemini charges a fee of 0.20% for makers and 0.40% for takers on all trades. They do not charge any fees for deposits or withdrawals, which is a huge plus for traders who want to move in and out with their money.
Kucoin on the other hand charges a maker fee of 0.10% and a taker fee of 0.10% for all trades. They also offer margin trading with fees starting at 0.02% and futures trading with fees starting at 0.06%. Kucoin offers a wide range of altcoins for trading, which is a big advantage for traders looking for more diverse options.
When comparing the two, it's clear that Kucoin offers significantly lower fees for both makers and takers as well as more options for trading. However, Gemini's zero cost for fiat deposits and withdrawals should also be taken into consideration.
Gemini and Kucoin are two cryptocurrency exchanges that offer different ways to buy and deposit crypto. Gemini supports eight fiat currencies, including USD, EUR, and GBP, while Kucoin supports a whopping 28 fiat currencies.
Both exchanges offer bank transfers and crypto deposits as deposit methods, but Kucoin also offers almost all fiat deposit options with Visa and Mastercard. Kucoin charges a high 3.8% deposit fee for Visa and Mastercard deposits while Gemini charges a 3.49% commission fee and 2.5$ with PayPal. In terms of free fiat deposits via bank transfer, that's only available with Gemini which offers free ACH deposits for USD, EUR, and CAD.
When it comes to fiat withdrawal options and fees, both Gemini and Kucoin offer their users a range of choices. However, there are some key differences between the two exchanges that may influence your decision. Gemini allows fiat withdrawals via bank transfer for USD, EUR, and GBP free of charge.
Additionally, the exchange has low withdrawal fees for cryptocurrencies, with only 0.0001 BTC fee for Bitcoin, free ETH withdrawals, and 3 USDT fee when withdrawing ERC-20 USDT.
Kucoin on the other hand only offers fiat withdrawals via SEPA for EUR, and charges a 5 EUR fee for this service. Additionally, Kucoin has higher cryptocurrency withdrawal fees, with 0.001 BTC, 0.01 ETH, and 25 USDT + %. Overall, if you prioritize low fees for both fiat and cryptocurrency withdrawals, Gemini is the better choice.
In conclusion, choosing between Gemini and Kucoin ultimately depends on your personal needs and preferences. Gemini is a regulated exchange that operates under the supervision of the New York State Department of Financial Services. It offers a reliable platform for trading Bitcoin, Ethereum, and other popular cryptocurrencies. Gemini is known for its security and compliance measures and a great option for beginners who value simplicity and security.
Kucoin is a global exchange that supports a wide range of cryptocurrencies, including many low-cap altcoins. It offers a user-friendly interface and advanced trading tools, making it popular among traders. Kucoin also has its own token (KCS) that users can accumulate to receive discounts on trading fees. However, Kucoin is not regulated like Gemini, so some users may feel less secure with their crypto holdings.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
