KuCoin vs Kraken vs BYDFI - Detailed Comparison [April 2024]

Many trading apps have come up nowadays with some very cool features and functionalities. Hence, picking up the best from them is always a tedious task. Therefore today, we have come up with a comparison article on “KuCoin vs Kraken vs BYDFI,” which will brief you on all the platforms and help you make informed decisions.

Table of Contents

Summary

Crypto Exchange	KuCoin	Kraken	BYDFI
Headquarters	Singapore	San Francisco, United States	Singapore
Transaction Fees	0.1%	Ranges from 0% – 2%	0.5%
Fiat Deposit	Yes	Yes	Yes
Leverage	Up to 100x	Up to 50x	Up to 100x
Supported cryptocurrencies	BTC, SOL, ETH, BNB, XRP, ADA, DOGE, DOT, TRX, and many others.	BTC, ETH, USDT, USDC, ADA, XRP, SOL, DAI, WBTC, SHIB, MATIC, and many more.	AAVE, BNB, DAI, DOGE, USDT, USDC, XRP, SUSHI, 1INCH, LTC, and many more.
Mobile App	Yes, Available for both Android and iOS.	Yes, Available for both Android and iOS.	Yes, Available for both Android and iOS.

What is KuCoin?

KuCoin is an easy-to-use and safe cryptocurrency exchange platform for the global audience in order to trade crypto assets.

The KuCoin platform is based in Seychelles. The members who founded the platform were early blockchain adopters and experienced in running projects such as iBox PAY and Ant Financial.

Moreover, the platform offers several features such as margin trading, lending, trading bot, futures trading, etc. Furthermore, the platform is often known as “The People Exchange,” and 1 out of 4 HODLers are globally using KuCoin.

KuCoin has its own cryptocurrency known as Kucoin Shares(KSC). In addition, if you hold KSC coins, you will get an impressive discount on KuCoin’s trading fees and can earn more crypto.

What is Kraken?

Kraken is a cryptocurrency exchange platform which is from San Francisco and was founded in the year 2011. Furthermore, it is one of the largest and oldest exchange platforms that is founded by Jesse Powell.

With its user-friendly and interactive interface, traders can exchange fiat currencies, including Canadian, GBP, Euro, and USD, with 60+ available cryptocurrencies.

Unfortunately, however, New York and Washington residents cannot partake in Kraken services.

Nevertheless, the platform offers a plethora of benefits and features, including Futures, Margin trading, Indices, an OTC desk, Staking, and Account Management options.

What is BYDFI?

Founded in the year 2019, BYDFI is one of the best Singapore-based crypto exchange platforms. It has many features which include being simple, fast, and easy to use with top crypto tools.

The crypto exchange platform is best for novice traders since it does not overwhelm them with intricate options and features. Furthermore, BYDFI provides flexible layouts, allowing traders to customize their charts according to their trading needs.

Features: KuCoin vs Kraken vs BYDFI

KuCoin Features

KuCoin has an interactive and user-friendly platform. The interface has a contemporary design where all the traders can enjoy the fun of robust trading. With this feature, trading will be more enjoyable.
The platform has an efficient engine and can handle millions of transactions per second.
Traders can look for advanced and exciting charts on KuCoin for a more in-depth understanding of their trading strategy. The platform uses TradingView charts, which also have indicators that help traders reach a decision.
KuCoin exchange offers order types are stop, market, post-only, limit, and iceberg orders.
KuCoin, in cooperation with Arwen, now supports the trader to opt for non-custodial trading directly from their wallet in order to ramp up their crypto security. If you choose Non-Custodial trading, the platform does not have custody over your money. As a trader in KuCoin, you will be responsible for your money and complete ownership.
Furthermore, KuCoin News helps in keeping you up to date with the latest news in crypto.

Also read, 5 Best Free Cryptocurrency Charting Tools

Kraken Features

Kraken provides users with crypto guides that will help speed up trading as the aspects of cryptocurrency can sometimes be a bit complex.
Traders get an intuitive experience from the start as they have designed and built a streamlined bitcoin exchange for newcomers and experts alike.
Traders can make easy deposits and withdrawals, measure their portfolio’s performance, and can also keep track of all of their crypto in one convenient place.
Most crypto is held safely in cold wallets, so bad actors can’t reach it.
Kraken provides traders with a global 24/7/365 live chat so that every query can get resolved in no time.
The platform provides 65+ cryptocurrencies to trade with. Moreover, you can buy and sell all the assets in just a few clicks.
Moreover, there are funding options that make sure you can fund your account quickly, wherever you are. Also, it has low processing fees for crypto funding options and fiat.

BYDFI Features

The main and primary focus of BYDFI is to bring forth a simplified trading experience.
BYDFI provides much easier tools than all the other brokers in the crypto market. Moreover, its distinct contract capabilities will allow traders to place orders without worrying.
It takes only about 30 seconds for the trader to successfully register on the platform via their mobile phone number or an email address.
The user interface and mobile application are explicitly designed for its traders.
There are eight different languages in which the BYDFI platform has been translated which makes it more accessible for all the traders.
BYDFI copy trading and margin trading has a global presence in over 150 countries, even though it debuted in 2019.

Supported Cryptocurrencies: KuCoin vs Kraken vs BYDFI

KuCoin Supported Cryptocurrencies

KuCoin has over 600+ cryptocurrencies like BTC, MXR, BCH EOS, DAG, ETH, and LTC. Moreover, you can also get tokens like DADI, OMG, KCS, etc. Furthermore, traders can buy crypto with 22 added fiat currencies on KuCoin through the Banxa, Simplex, and OTC platforms. The supported fiat currencies include EUR, GBP, AUD, KRW, JPY, TRY, VND, IDR, RUB, CNY, CAD, ZAR, NZD, HUF, SEK, CHF, CZK, ILS, PLN, DKK, NOK.

Kraken Supported Cryptocurrencies

Kraken provides traders with over 176 cryptocurrencies such as BTC, USDT, ETH, ADA< USDC, XRP, SOL, DOGE, DAI, TRX, SHIB, AVAX, and many others.

BYDFI Supported Cryptocurrencies

BYDFI supports approximately 43 cryptocurrencies and over 100+ crypto trading pairs. These cryptocurrencies include BTC, XRP, ETH, LINK, TRX, EOS, HT, and more.

Fee Structure: KuCoin vs Kraken vs BYDFI

KuCoin Fees

The fee structure of KuCoin is simple and straightforward, so traders find it easy to understand. Here at KuCoin, the deposit fees are zero, i.e., and it charges nothing from the traders. For spot trading, there is a fixed fee of 0.1%, which is obviously below the global industry average.

Traders’ KuCoin shares holdings and 30-day trading volume determine the decrease in the spot trading fees. Moreover, the withdrawal fees of the platform are the lowest in the crypto industry as it charges 0.0004 BTC whenever a trader makes a withdrawal of BTC. However, the KuCoin withdrawal fees depend on the different cryptocurrencies that are available on KuCoin.

Furthermore, there are buying limits, i.e., traders can withdraw up to 2 BTC per 24 hours without verification, and a 1400 USD limit if they are buying. If the account is verified, the limit raises to 100 BTC per 24 hours.

Kucoin Fee Structure — KuCoin Fee Structure

Kraken Fees

Kraken exchange offers low fees for both makers and takers as almost all of their cryptocurrency pairs follow the same fee schedule, which further incentivizes market makers to increase liquidity. If traders want to buy instantly, there is a 0.9% fee for purchasing stablecoins (USDT, DAI, or USDC) with USD or while purchasing them with another stablecoin. A 1.5% Kraken fee is there for any other crypto or FX pair. Moreover, Kraken Pro uses a maker-taker fee schedule with volume incentives based on your activity in the past 30 days.

BYDFI Fees

The fee structure of BYDFI is such that the currency exchange fee is 0.5%. The trading fee that is applicable for opening and closing a derivative is calculated as Margin * Leverage * 0.025%.

This opening and closing fee is deducted in advance while opening a position and will not be charged later when closing a place.

Moreover, the maker and taker fee that is set for spot handling is 0.1%, and the conversion fee is 0.1%. In addition, if your position is held for less than twelve hours, you are not charged any overnight fee.

Security: KuCoin vs Kraken vs BYDFI

Is KuCoin Safe?

KuCoin is a totally safe and legit crypto exchange as it provides bank-level asset security to ensure the safest environment possible for account holders and all transactions.

It uses industry-level multilayer encryption and dynamic multi-factor authentication, and also there is an active internal risk control department to ensure that all your funds are safe.

Moreover, there are daily checks that are organized by the platform to check whether the groups are doing day-to-day data operations following strict security standards or not.

Furthermore, if your account gets hacked by any chance, you can simply freeze it and all its transactions. In addition, they provide you with a guide on how to secure your account by following some simple points.

Is Kraken Safe?

Kraken always takes a comprehensive approach in order to protect your investments in NFTs and crypto-assets through its security. There are a number of sophisticated measures to prevent the theft of funds, NFTs, and other information.

The platform stores 95% of all deposits in an offline, air-gapped, geographically distributed cold storage. All the sensitive account information is encrypted at rest at both the data and system levels.

Moreover, they have an expert team that is dedicated to testing their own systems via every possible attack vector. They make use of Two-Factor Authentication, and email confirmations are also needed for withdrawals.

In addition to this, the servers of Kraken reside in secure cages under 24*7 surveillance by armed guards and video monitors.

Furthermore, SSL encryption protects you when browsing Kraken and provides you high priority 24*7 live chat plus email support if there is an emergency.

Is BYDFI Safe?

Along with all the features that BYDFI provides, it is also known for its extraordinary security measures. The platform takes all the security measures to decrease online theft and fraudulent activities. In addition to this, BYDFI has set up many wallets that are stored online in order to keep its traders’ assets secure. Moreover, the exchange platform makes use of SSL encryption and has also acquired many licenses over the past few years.

Furthermore, BYDFI is regulated by the U.S. Money Services Business(MSB), Financial Regulatory Authority(MTR), Australia’s Transaction Reporting and Analysis Center (AUSTRAC), and Singapore’s Business Administration of Singapore.

Mobile Application: KuCoin vs Kraken vs BYDFI

KuCoin

A fully functional mobile application is provided by KuCoin to its traders. Furthermore, it offers real-time quotes synced with the official website, has an interactive and attractive interface, has a 24*7 accessible help center, and a KuCoin referral program module & KuCoin Bonus.

Moreover, traders also get constant information, personal account information, and real-time market views.

In addition to this, traders also get notifications regarding KuCoin token price, your ore-set warning price, any logins, asset change announcements, and news & promotions. The KuCoin app is compatible with Android and iOS devices.

Kraken

Kraken has two official mobile applications for both iOS and Android users.

Kraken App

The Kraken mobile app has stunning vibrant designs and is perfect for beginners who have just started out in crypto. However, it also fits well for experienced traders who are looking to conveniently and quickly buy or sell while on the go.

The application comes with some features it lets you buy with your payment card or ACH online banking, sort by top winners or losers, monitor prices and also track your portfolios, allow you to save your crypto, and has a beautiful, intuitive design.

Furthermore, the app is available in all regions except for Donetsk, Japan, Iran, Crimea, North Korea, Luhansk, Syria, and Cuba. You can just follow the link or scan the QR code to download the Kraken app from the iOS and Android app stores.

Kraken Pro

Kraken Pro mobile application is a totally different application. It comes with features such as a professional trading experience designed for power users, advanced order types, margin trading with up to 5x leverage, multiple charting, an order book display option, and stake and unstake cryptocurrencies.

You can download this application similar to the normal one. This application is also available for both Android and iOS users.

3. BYDFI

The BYDFI mobile application consists of all the features that are present there on the website. Thus, it makes trading much faster and easier for the traders.

In addition, the application provides excellent functionalities, including technical charts. Moreover, traders can keep track of their one-touch order options available to them and also their positions. BYDFI app is available for both Android and iOS devices.

Customer Support: KuCoin vs Kraken vs BYDFI

KuCoin Customer Support

Kucoin’s customer support service is entirely focussed on and aware of every trade issue of yours. Thus, they take immediate action whenever needed as help is available 24*7.

Moreover, they provide you with the FAQ section that has a very wide section of questions and answers and the features of live chat to get queries solved.

Kucoin Customer Support — KuCoin Customer Support

Kraken Customer Support

The customer support service team of Kraken is genuinely impressive. If a trader somehow feels that they are not at all satisfied, then they can always contact the support team by submitting a request.

Moreover, they have a live chat option available 24*7. Along with the live chat option, you can also come in contact with the team through phone support and can then take assistance.

BYDFI Customer Support

Traders can quickly head to the customer support service whenever they have any problem or issue with the website. Additionally, they can come in contact with the BYDFI team via online assistance and email.

Pros and Cons: KuCoin vs Kraken vs BYDFI

Platforms	Pros	Cons
KuCoin	1. The platform has a simple user interface with order books and advanced charts. 2. It has low trading fees and no deposit. 3. The number of assets available to trade is high. 4. There is no compulsion of KYC for withdrawals.	1. There are no bank deposits available. 2. For fiat-crypto trades, the KuCoin fee rate is high.
Kraken	1. The platform focuses on high security. 2. It has a highly-efficient support team. 3. Features like Futures trading, OTC desk, Staking, and crypto watch are available. 4. Kraken has two mobile applications.	1. Tax support is not available. 2. It has a low account funding process.
BYDFI	1. The trade-in BYDFI occurs in 16 different countries. 2. They offer demo mode in order to simplify usage. 3. The platform has best-in-class security and keeps all the funds in a hot and cold wallet storage system.	1. There is no fiat withdrawal. Moreover, there are only limited withdrawal options.

Conclusion

KuCoin, Kraken, and BYDFI are well-known and reputed crypto trading platforms. If you want to expand your trading opportunities and hence trade like a pro, you must consider using one of them.

These platforms will surely give you a worthy trading experience and come up with all the vital features that should be there in a trading platform.

Frequently Asked Questions

Can the U.S. residents trade Kraken futures?

No, Kraken Futures is not available for the residents of the U.S., including some other areas like Bangladesh, Japan, Iraq, Algeria, Afghanistan, Sudan, the U.K., and others. The list of all the restricted countries is here.

How much can you transfer on the KuCoin platform?

The transfer limit varies depending on the mode of payment. Each of the platforms has its limits whether you are performing a transaction using Wire transfer, Interac e-Transfer, or Paypal.

Is BYDFI safe to use?

BYDFI is entirely safe to use as it is regulated by four authorities, namely the ACRA of Singapore, the AUSTRAC of Australia, the MSB of the United States, and the MTR of Estonia. Therefore, these four licenses further make the platform more trustworthy.