Mexc vs KuCoin vs BYDFi: Which is better?

Cryptocurrency trading platforms have been gaining immense popularity in recent years, offering individuals the opportunity to invest and trade digital assets. In this article, we will compare and analyze 3 crypto exchanges: Mexc vs KuCoin vs BYDFi. By examining their features, fees, security, and user experience, readers will gain valuable insights to make informed decisions in the world of cryptocurrency trading.

Mexc vs KuCoin vs BYDFi: Overview

BYDFi

A cryptocurrency trading platform called BYDFi was first introduced as BitYard in 2020 and was created for all levels of cryptocurrency investors throughout the world. Forbes Advisor lists BYDFi as one of the top cryptocurrency exchanges for beginners and among the top crypto apps and exchanges of 2023.

Mexc

John Chen established MEXC in 2018, and it is headquartered and registered in Victoria, Seychelles. MEXC has established itself as an exchange with more than 500 workers and a sizable user base of about 5 million members in more than 170 countries. MEXC provides a broad range of services, including spot trading and trading in derivatives, and it supports a sizable number of over 1000 cryptocurrencies and 2000 trading pairs.

KuCoin

In order to earn rewards on the network, KuCoin also gives users the choice of lending or staking cryptocurrency.

Users can buy, sell, and trade different cryptocurrencies using KuCoin, and in addition to a number of standard trading options, investors can also employ margin, futures, and P2P (peer-to-peer) trading.

Mexc vs KuCoin vs BYDFi: Features

BYDFi Features

• For well-known cryptocurrencies including BTC, ETH, XRP, DOT, LINK, ADA, AAVE, ATOM, AVA, BCH, BNB, and UNI, BYDFi offers leveraged tokens. These tokens give consumers versatility in their trading tactics by offering 3x long and 3x short alternatives.
• Lite contracts, which provide up to 125x leverage, allow for leveraged trading with straightforward regulations.
• For perpetual contracts, traders have access to up to 200x leverage, which distinguishes BYDFi from other exchanges where the highest leverage is often 100x or 125x. For traders, perpetual futures provide bigger potential profits, more flexibility, and ease.
• Users of BYDFi’s copy trading technology can duplicate the transactions of seasoned master traders with a single click. Beginners who may not be familiar with technical analysis can benefit greatly from this instrument.

Mexc Features

• Spot Trading: MEXC offers access to the most well-liked assets throughout DeFi, NFTs, the Metaverse, and other industries, allowing users to trade more than 300 cryptocurrencies on its platform.
• Margin Trading: MEXC provides margin trading for more experienced traders. This service enables users to borrow money and leverage their positions in order to potentially raise their earnings or reduce their risks.
• Futures Trading: MEXC offers users who want to speculatively trade future price movements of cryptocurrencies with up to 200x leverage a futures trading platform. This enables traders to adopt long or short positions in accordance with their assessment of the market.
• Staking: MEXC enables staking for a variety of cryptocurrencies, allowing users to stake their digital assets on the platform to earn rewards on more than 50 coins, including stablecoins.
• IEOs: MEXC has a platform called “Launchpad” that assists new projects in raising money through initial exchange offerings (IEOs). Users can take part in these IEOs to purchase new project tokens before to their listing on the open market.
• MX Token: MEXC offers a native token with the ticker MX that, like Binance and BNB, grants users certain benefits and advantages on the network.

KuCoin Features

• User-Friendly and Interactive Platform – KuCoin’s interface has a contemporary design where traders can enjoy the fun of robust trading. This feature will make trading even more enjoyable for you.
• Efficient Engine – It can handle millions of transactions per second (TPS).
• Advanced-level Charting – You can look for exciting and advanced charts on Kucoin for a more in-depth understanding of your trading strategy. KuCoin uses TradingView Charts which have indicators too, with the help of which you can reach a decision. 
• Order Types: Kucoin offers limit, post-only, stop, market, and iceberg orders. 
• Non-custodial Trading: In Cooperation with Arwen, KuCoin now supports the trader to opt for non-custodial trading directly from their wallet to ramp up their crypto security. If you opt for non-custodial trading, exchange platforms don’t have custody over your money. On Kucoin, you as a trader will have complete ownership and responsibility for your money. 

Mexc vs KuCoin vs BYDFi: Fees

Mexc Fees

• Discounts with MX Token: MX, Mexc’s native token, can be used to receive fee breaks. Since these reductions can change, it’s important to review the platform’s current prices.

KuCoin Fees

• Trading Fees: Based on your trading volume over the last 30 days, KuCoin also uses a tiered fee structure. For spot trading, the commissions may range from 0.1% to 0.2%.
• Maker and Taker Fees: Similar to Mexc, KuCoin provides market makers with a lower maker fee (0.1% or lower) than market takers (0.2% or lower).
• Holding KuCoin Shares (KCS) can result in further reductions in trading fees. Depending on how much KCS you own, the savings could change.

BYDFi Fees

The spot handling fee is as follows:

• BYDFI charges 0.1% as the maker’s fee.
• Similarly, it charges 0.1% as the taker’s fee. 
• The conversion fee is 0.1%.

Similarly, for CFDs:

• The transaction fee varies from 0.075% to 0.05%.
• The price of opening/closing position can be calculated as follows: margin * leverage * 0.05%
• BYDFI charges 0.1% when opening a position.

For Derivatives:

• The opening/closing fee can be calculated as follows: margin * leverage * 0.025%
• BYDFI charges 0.05% when opening a position.

To know the entire fee structure, visit the BYDFI help centre. 

Mexc vs KuCoin vs BYDFi: Supported Cryptocurrencies and Trading Pairs

Mexc

The variety of assets offered is one of the most crucial factors for traders and investors to take into account when selecting a crypto exchange. You won’t need to worry about this with MEXC because they provide traders and investors with access to a wide variety of cryptocurrency trading pairs. More specifically, there are more than 2,110+ trading pairs and more than 1,520 cryptocurrencies available.

Also, you may read our MEXC Review

KuCoin

As per CoinMarketCap, KuCoin has a large number of trading pairs, it offers nearly 700 cryptocurrencies for buying, selling and trading, the list of the top coins includes BTC, ETH, USDT, BNB, ADA, XRP, USDC, DOGE, DOT, UNI and more.

Also, you may read our KuCoin Review

BYDFi

Over 400 cryptocurrency trading pairings are available on BYDFi’s platform. It supports popular cryptocurrencies including Shiba Inu (SHIB), Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH), and Bitcoin (BTC). Future 100x Gems (low-cap coins) will also be available on BYDFi.

Also, you may read our BYDFi Review

Mexc vs KuCoin vs BYDFi: Security

Mexc

The assets of its users are protected thanks to MXC security procedures. The MXC crypto exchange platform (now MEXC Global) offers a top-notch cold storage wallet to guarantee this.

About $500 million worth of cryptocurrency deposits are managed by these wallets. As of yet, there have been no security lapses at the MEXC Global exchange that have been disclosed.

The typical security elements that one would anticipate from any exchange are present at MEXC Global. For instance, you must input a confirmation code that was supplied to your email address while enrolling.

KuCoin

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

It uses various security measures like micro-withdrawal wallets to both splits. It secures your withdrawals as they take place, dynamic multifactor authentication, industry-level multilayer encryption, and a dedicated internal risk control department to ensure that your funds are safe.

BYDFi

On BYDFI, users can trade without being concerned about the security of their on-platform assets. Strong safety precautions have been established by BYDFI exchange to reduce online theft and fraud. Additionally, in order to safeguard the assets of its users, it has set up numerous offline wallets.

Additionally, it employs SSL encryption for private communications and multi-step login processes to further safeguard cryptocurrency assets.

Further, it has accumulated a number of licenses over the years and developed a reputation as a secure and safe location to trade cryptocurrencies and other products it offers. The following organizations control the exchange.

• Singapore’s Accounting and Corporate Regulatory Authority.
• Money Services Company from the USA’s Financial Crimes Enforcement Network
• Estonia’s MTR (Register of Economic Activity)
• AUSTRAC (Australian Transaction Reports and Analysis)

Mexc vs KuCoin vs BYDFi: Customer Support

Mexc Customer Service

MXC (Now MEXC) offers its users a responsive customer support 24/7. It also has a FAQ section which is well organised to cater the needs of its customers. Further, it also has an option of regular chat and provides email support to initiate a person to person contact. Moreover, it the platform also operates some social media accounts which might be useful for getting information.

KuCoin Customer Service

The KuCoin customer service is entirely focused on and aware of your trade issues. They take immediate action if needed. Help is available 24/7. You also get the FAQ section and the feature of live chatting to get your questions solved.

Later in the article, we have talked about KuCoin’s well-structured maker and taker fee, high liquidity, and security in more detail.

BYDFi Customer Service

BYDFI boasts a comprehensive guide that lists solutions to general problems that the customers general problems. In addition, an email ([email protected]) and live chat support are available to answer any customers’ queries. 

Mexc vs KuCoin vs BYDFi: Mobile Application

Mexc App

The MXC platform (Now MEXC) offers a mobile and desktop app for its users to help them trade cryptocurrencies and access the services offered by the platform anywhere and anytime. Moreover, the app can be downloaded for Android, iOS and Windows.

KuCoin App

The Kucoin app is available for iOS and Android devices. You can use the Kucoin app to buy crypto with fiat currency or with another cryptocurrency. 

BYDFi App

The BYDFI App contains all the features of the websites, making trading much easier and faster. Now analyze market prices or copy trade from anywhere, anytime. The app is available for both Android and iOS users. 

Mexc vs KuCoin vs BYDFi: Conclusion

Without a question, MEXC is the cryptocurrency trading champion. the most cryptocurrencies, the highest liquidity, the fewest fees, and the most dependable trading platform. However, Kucoin is a fantastic option for goods that generate passive income like staking, mining, or automated trading. Additionally, even for beginners, the UI is incredibly user-friendly and simple to use. There are also remarkable features that are advantageous to and will interest expert traders. BitYard has everything covered for its users.

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