Gate.io and Kucoin are two of the best crypto exchanges worldwide. This side-by-side comparison will help you choose the right platform for your needs as a trader or an investor. We’ll cover all the important factors to be considered such as security, withdrawal and deposit methods, KYC verification, supported coins, and more. This will help you make a well-informed decision as regards the exchange you’ll choose: Kucoin or Gate.io.
Gate.io vs Kucoin Overview
Gate.io is one of the oldest crypto exchange platforms. It was launched in 2013 and has its headquarters located in George Town, Cayman Islands. With over 200 employees and over 13 million users worldwide, Gate.io has consistently ranked among the top 10 exchanges in the world. It is available in over 200 countries across the globe. Gate.io supports over 1700 cryptocurrencies for trading, with a daily trading volume of over $3 billion according to Coinmarketcap.
Gate.io Homepage
Gate.io also features a mobile app to enable users to trade and invest easily on their phones, available for IOS and Android devices with 1 million downloads and a 4.3/5 rating on the Google play store.
Kucoin on the other hand, was launched in 2017 by Michael Gan and Eric Don and has its headquarters located in Seychelles. It has also ranked as one of the largest crypto trading platforms in the world with over 900 employees and 29 million users worldwide. It is also available in over 200 countries across the globe. Kucoin supports over 700 cryptocurrencies for trading, with a daily trading volume of over $1.5 billion.
Kucoin Homepage
Kucoin has a mobile app available for Android and IOS users with 10 million+ downloads and a 4.2/5 star on the Google play store.
The Gate.io app is considered superior to Kucoin as it offers more cryptocurrencies and more trading options which also reflects in the rating.
Gate.io vs Kucoin Sign-Up and KYC
Kucoin and Gate.io have a similar sign-up process that is fast and seamless. You can sign up on either exchange using a valid email address or phone number.
To sign up on Gate.io, after providing your email address, a 6-digit code will be sent to your mailbox which you must provide to fully register your account.
After this, you’ll be asked to complete the KYC verification which is divided into 3 levels. Level 1 requires your full name, Date of birth, and ID number, Level 2 requires your residential address, face recognition, and uploading of your ID document, and Level 3 requires proof of address verification. The daily withdrawal limit is $2,000,000 for Level 1, $5,000,000 for Level 2, and $8,000,000 for Level 3 KYC.
Gate.io KYC
Similarly, for Kucoin, after providing your email address, a verification link is sent to your mailbox which you must click on to completely set up your account. Next, you must complete the KYC verification to access the products and services of the platform. The KYC process is divided into 3 levels and your verification level determines what restrictions apply to your account. Level 1 KYC requires your personal information, level 2 requires an upload of your government-issued ID, and level 3 requires face recognition.
Kucoin KYC
The daily withdrawal limit is $499 for Level 1, $1,999 for Level 2, and $999,999 for Level 3 KYC.
Overall, Kucoin offers a simpler KYC verification process in comparison to Gate.io as it requires lesser information.
Gate.io vs Kucoin Product, Services, and Features
Gate.io is a good option for traders who prefer a wider variety of coins as it supports over 1700 cryptos for trading with an average daily trading volume of over $3 billion. It offers spot and futures trading with leverage up to 100x. Gate.io also offers a good user interface suitable for advanced trading but not quite easy to navigate for beginners.
Gate.io trading Interface
Aside from trading, Gate.io is one of the best platforms to earn passive income. The earn section features Crypto loans, Copy trading, Lend&Earn, HODL&Earn, staking, cloud mining, liquidity mining, auto investment, dual investment, ETH 2.0 staking, and slot auctions. It also has a Gate Visa card that you can use to convert crypto and pay bills around the world.
Gate.io Passive Income Products
On the other hand, Kucoin supports over 700 cryptos for trading with an average daily trading volume of over $1.5 billion. It also offers spot and futures trading with leverage up to 100x. Additionally, Kucoin supports NFT trading with its NFT marketplace which is available to its users. It stands out for its user-friendly trading interface that supports advanced trading for experienced traders and is easy to navigate for beginners.
Kucoin Trading Interface
Kucoin also offers numerous passive income products which include Lending, staking, savings, and automated trading bots to help users make money.
In terms of products, services, and features, Gate.io is preferable as it offers more trading options, more cryptocurrencies, and more passive income products.
Gate.io vs Kucoin Trading Fees
On the spot market, Kucoin charges 0.1% for both makers and takers. For futures trading, Kucoin charges 0.02% for makers and 0.06% for takers. It also offers a 20% discount on spot fees when you pay with its native token, KCS.
Kucoin Trading Fees
However, Gate.io charges higher on the spot market with a fee of 0.2% for both makers and takers. For futures trading, Gate.io charges 0.015% for makers and 0.05% for takers. Additionally, there’s a 25% discount when you pay with the Gate token.
Gate.io Futures Trading Fees
Both Kucoin and Gate.io use a tiered fee structure which can reduce fees based on your 30-day trading volume.
Overall, Kucoin is the better option for spot fees while Gate.io is better for future fees.
Gate.io vs Kucoin Deposit Methods
Kucoin and Gate.io offer free crypto deposits.
Kucoin supports over 20 currencies for FIAT deposits and the methods include Visa or Mastercard, and bank transfer for EUR. There’s a charge of 3.8% on card payments and 1 EUR on bank transfers.
Kucoin Deposit Methods
However, Gate.io doesn’t support FIAT deposits; You can only deposit cryptocurrencies. The supported methods are MoonPay, Mercuryo, and BANXA with fees ranging from 1% to 6% depending on the coin and method used.
Kucoin is the clear winner in terms of deposit methods as it supports more deposit methods and offers lower fees.
Gate.io vs Kucoin Withdrawal Methods
Kucoin supports 7 currencies for FIAT withdrawals. The currencies include GBP, EUR, USD, TRY, UAH, RUB and BRL. It currently offers withdrawal through SEPA for EUR and FPS for GBP which attracts a fee of 1 EUR and 1 GBP respectively. As for crypto withdrawals, Kucoin supports over 400 coins for withdrawal and the fee depends on the coin and the blockchain network being used.
Kucoin Withdrawal Methods
Gate.io on the other hand, does not support FIAT withdrawals. You can only withdraw and deposit crypto and withdrawal is supported for over 1700 coins. Alternatively, you can use the P2P marketplace to get funds transferred to your bank account.
Kucoin is the clear winner in terms of withdrawal methods as it offers more withdrawal options, supports more FIAT currencies, and offers lower fees.
Gate.io vs Kucoin Security
Both Gate.io and Kucoin have suffered hacks in the past. Kucoin faced a security threat in 2020 and lost over $150 million in user funds. However, they resolved the issue as soon as possible and users were refunded. Advanced security measures were put in place to prevent another hack and since then, they haven’t faced any security threats.
Kucoin also has proof of reserves which shows that customer funds are fully covered by the exchange. They are provided for ETH, USDT, BTC, and USDC.
Kucoin uses security measures such as two-factor authentication, a security password, advanced encryption, private key management, and anti-phishing to secure user assets on its platform.
Gate.io on the other hand, was hacked in 2018 and lost over $230 million in user funds. They also resolved the issue and tightened their security. Users were refunded and there hasn’t been any security threat since then.
Additionally, Gate.io also has proof of reserves but they are only provided for BTC. The platform uses security measures like two-factor authentication, SSL encryption, anti-phishing, and regular security audits to secure user assets.
Although both exchanges have been compromised in the past, Kucoin seems to uss more security measures in comparison to Gate.io.
Gate.io vs Kucoin Which Exchange Wins?
Overall, Kucoin is the winner of this comparison. Although it is a relatively new crypto exchange, Kucoin stands out in terms of its user-friendly interface for both experienced traders and beginners. It also offers bot trading, NFT trading, lower trading fees, and generous discounts.
Gate.io on the other hand, stands out in terms of passive income products as it offers a wide variety of options such as copy trading and cloud mining to help its users make money. It also has the highest number of supported cryptocurrencies for any exchange platform in the world.
Gate.io is best for:
- Wide variety of coins
- Financial products
- Copy trading
- Larger discount on using its native token
Kucoin is best for:
- Bot trading
- NFT trading
- Spot and Futures trading
- Easy registration and KYC verification
- Buying Altcoins
- Lower trading fees
- Security
