Ranked 41st and 19th, Kucoin and HitBTC cryptocurrency exchanges are among the top in the industry. They both have great services to offer clients, but you can only trade with one. If you want to know which one is the best for you, consider how they compare in the following categories.
Regulation
The crypto industry has been around for about a decade, so many cryptocurrency exchanges could be considered relatively new. Nevertheless, Kucoin first came onto the scene in May 2017 during the great bull run in the industry, and this propelled it to the top of the industry. It is based in Hong Kong and is thus unregulated because there are no laws surrounding cryptocurrencies. But they have built trust among their clients by maintaining quality services to remain among the top 50 exchanges out of hundreds. US clients can still sign up and trade, but their accounts will be limited. Total access is granted only after know-your-customer (KYC) requirements are fulfilled, but this option is locked out for US and Japan residents. Therefore, the maximum limit for them is 2 Bitcoins over a 24-hour period.
HitBTC is also based in Hong Kong, where it has been in operation since 2013. The exchange is operated by HIT Solutions, and they claim to be the most advanced exchange. Unlike Kucoin, though, HitBTC does not allow any trading whatsoever for residents in Japan or the US.
Winner is Kucoin.
Deposits and withdrawals
With Kucoin, registered clients can fund their account and withdraw funds in either fiat or cryptocurrency. The former is possible through a partnership with Simplex that processes the transactions. Deposits in fiat can be made by credit or debit cards and are processed instantly, but deposits in cryptocurrency have to be verified depending on the coin in question. HitBTC have also made a partnership with Changelly to allow for deposits and withdrawals in fiat, but the main method remains to be crypto.
This section is a draw as both cryptocurrency exchanges have similar services.
Assets
Kucoin provides about 200 assets in total for trade on their platform. They also have their own native token Kucoin Shares (KCS) used for transactions on the platform. Besides, KCS gives holders the right to some rebates and reduced charges when using the exchange. Meanwhile, HitBTC boasts of over 300 different cryptocurrencies on their exchange, but it is their trading engine that really stands out. This engine matches orders quickly hence the reason it’s considered the most advanced among cryptocurrency exchanges.
Winner is HitBTC.
Fees
Charges on Kucoin are among the lowest in the industry because they have a flat fee for both maker and taker fees at 0.1%. Deposits are completely free regardless of the cryptocurrency used, but withdrawals are charged depending on the coin used. With HitBTC, charges start from 0.1% maker and 0.2% taker fees and then reduce as trading volume increases. High volume traders can even earn from negative maker fees of 0.01% and reduced taker fees.
Winner is Kucoin.
Trading platforms
Kucoin provides trading on all devices whether desktop from their web trader or mobile through their iOS and Android apps. However, HitBTC still does not have official mobile apps, limiting traders to desktop trading.
Winner is Kucoin.
