Kucoin And Binance Exchange: The 3 Differences When Trading.

I started and practiced trading in Binance Exchange because of all the crypto exchanges in the space, Binance has most easiest and newbie friendly features when you are new to the platform. Of course, this is all based on my personal experience when compared to other trading platforms.

I've been using Binance Exchange for over 5 years if I were to include the time when I was new and the 2 years when I stopped my exposure in cryptocurrency. Back then, Binance still offers most of its features to every users.

Time goes by, I was sorting and trying different exchanges other than Binance to where I can trade freely and easy and of all the exchanges I've tried, one of the best candidate and competitor of Binance is Kucoin Exchange. And in this article, I will mention the 3 things that differ the platforms with each other and how it impacted to them.

Coins Available In The Perpetual Contract.

One of the best thing every leverage traders wants is the availability of different coins that can be traded either simultaneously or focusing on one coin. When the platform have a long lists of coins in their perpetual contract for the traders to trade, it will become an advantage as traders want it for them to trade the coin as much as possible.

Binance Exchange currently has over 150 perpetual contracts that leverage traders can trade in the platform. It is a huge number of coins that traders can freely take a look and analyze themselves. More contracts means more opportunities that can be seen.

On the other hand, Kucoin Exchange only has just over 100 coins in perpetual contract. And since it has fewer lists of coins in their futures market, some coins that are fundamentally good in the cryptocurrency space were not available in Kucoin like Original Protocol or $OGN. The worst thing for me in the future trading in Kucoin is that there are contracts that first attract so much volume from traders. What I mean is that there are low caps coins, that is just less than $10 million market cap, and most traders don't like it because the risk are far too great because if the volatility it can give.

Non-KYC Trading.

Like I mentioned, I was once a trader in Binance but because of the regulations they have set for its users, I was forced to take out all my assets there and leave Binance. The reason for this is that Binance will no longer allow non-verified users in their platform to trade in their perpetual contracts or future market. Users now are required to be a level 1 user in their platform to be able to trade, deposit and make withdrawals. If you ask me why not verify my account to go back trading in Binance, my simple answer is that I still don't have a valid ID because I am still waiting for my national ID to arrive that I have been waiting for almost a year now.

Since I can no longer trade in Binance Exchange, I decided to start my trading journey in Kucoin Exchange. It was really fortunate for me because as of the moment, Kucoin still doesn't require its user non-verified users to do a KYC process. Users can freely trade in the spot, margin and future market. They can also deposit and withdraw assets from the platform, but of course with limitations.

The Cross and Isolated Margin.

One of the best thing in trading in the future market is knowing the risk you are putting in a position. Binance let its traders whether to use a Cross margin or the Isolated one. But what are they? Here's the simple explanation;

• Cross Margin will let the system to use all the funds you have in the future account to make your liquidation far from your entry point and avoid sudden possible losses caused by volatility.

• While using Isolated Margin, you can only use the position you put in a trade. If your position gets liquidated, the amount you used as margin is the only thing that will get liquidated. You can just manually add an amount to further make your liquidation far away from your position.

This is a very great feature that Binance offered to its traders that Kucoin Exchange is lacking. In Kucoin, there are no Cross or Isolated Margin option. When you made a position, the only thing you can do is to add more margin for you to avoid near liquidation points. Kucoin needs an option like this to ensure a little the safety of its traders.

Closing Thoughts.

Both Kucoin and Binance Exchange are great platforms and gives lots of opportunities for its users. However, the difference are quite great with the advantage being in Binance but I know Kucoin will eventually take a step on what they are lacking.