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Kucoin vs Crypto.com: What Works Better For Canadians in 2024

Oleg Galeev

Last updated December 27, 2023

KuCoin and Crypto.com are both popular cryptocurrency exchanges with unique offerings. While KuCoin is known for its wide range of available cryptocurrencies and advanced trading features, Crypto.com stands out with its diverse range of features such as staking, crypto Visa cards, NFT marketplace, and comprehensive crypto education.

Description

Kucoin is a sort of Canadian-friendly cryptocurrency exchange that offers peer-to-peer crypto trades, lending, and futures trading. Kucoin is suitable for more advanced traders looking for advanced charting and order types. Kucoin has 8 million

Crypto.com is a crypto exchange that is gaining popularity in Canada. It offers its own coin (CRO), staking, lending, NFTs, and pre-paid Visa crypto cards offering cashback. Crypto.com offers everything in one place and is suitable for Canadians looking for an easy way to buy crypto.

Coins

500+ coins

150+

Fees

Low maker/taker trading fees ( 0.005%/0.025% to 0.1%/0.1% for class A coins)
Free deposits
Variable withdrawal fees
KCS holders get 20% discount on trading fees

Free deposits
Variable Withdrawal fees
Send crypto to other crypto.com users for free
0.04 to 0.4% maker/taker fees

Pros

Low fees
Wide range of altcoins available
Advanced order types
Crypto lending
Futures trading
Fast crypto purchases
Peer to peer exchange
Anonymous trading

Wide range of coins available
Suitable for beginners and pro traders
Interac e-Transfer available
Deposits take up to one day to process
Visa cards
Staking
NFT marketplace
20+ fiat currencies supported
Free deposits

Cons

Platform is confusing for beginners
No fiat to crypto pairs
Must buy USDT to trade
Previously hacked
Not compliant in Ontario (but you can still use it though)

No crypto education articles
Poor customer service

Account Limits

Low

App

Methods to buy

Credit/debit card
Third party Bank transfer

Interac e-Transfer

Security

$275 million stolen in 2020 hack
2FA available

100% coins held in cold storage
Ledger Vault partnership
Multi-factor authentication
Mandatory whitelisting of withdrawal addresses

Mobile and Desktop Trading

Both KuCoin and Crypto.com offer user-friendly mobile apps and desktop platforms. KuCoin's app and desktop platform are known for their advanced trading features, while Crypto.com's app provides a seamless experience for beginners with features such as buying, selling, staking, and managing crypto assets. Both apps have positive ratings on the App Store and Google Play, with KuCoin averaging a higher rating.

Kucoin

Kucoin is slightly different than your average crypto exchange. You won’t be able to deposit Canadian dollars directly. You’ll have to go through a third-party such as Banxa to deposit fiat. Kucoin does, however, accept credit and debit card payments, but you’ll need to check if your Canadian bank allows crypto transactions.

There are no fiat to crypto pairs, so you cannot buy bitcoin or other crypto directly with your dollars. You’ll need to first purchase Tether USDT on Kucoin and then trade that for the crypto you want.

The Kucoin exchange can be quite confusing for beginners.

There are advanced charting and order types available, plus you can trade on margin and trade futures contracts if you wish.

To buy USDT quickly, go up to the top menu and select the “Fast Buy” option. Here, you can purchase USDT using your credit or debit card or via the P2P exchange, or via a third party transfer. Once you have your USDT, then you can trade it on the Kucoin exchange under “spot trading”. Select the trading pair e.g. USDT/BTC and then choose your order type e.g. market order.

The Kucoin app has a 3.7-star rating from over 2,000 reviews on the Apple App Store and a 2.7-star rating from over 12,000 reviews on Google Play. Many people complain that the app crashes or that there are certain features lacking such as the ability to filter order history by trading pair.

Kucoin’s app is a bit more simple than its desktop exchange but it’s still confusing for beginners. There are lots of features, tabs, and menus. Buying USDT is easy since you do not need to verify your account. Simply sign up with an email and you can buy crypto in seconds using your credit or debit card under the Fast trade option. From there though, you will need to navigate to the spot trading page and select the trading pair you want.

Kucoin desktop interface

Kucoin desktop app (Fast Trade)

Kucoin app interface

Kucoin app interface while trading

Crypto.com

In the crypto.com app, users can buy and sell crypto easily. You can also directly stake or lend your crypto, apply for a crypto.com card, track favourite coins, withdraw to external wallets and more. The app is an all-in-one trading platform that’s user-friendly and suitable for beginners.

The app has a 4.3-star rating from 56,000 reviews on the Apple App Store and a 3.9-star rating from 200,000 reviews on Google Play.

If you’re looking for more advanced tools, you can use crypto.com’s desktop exchange. The exchange offers more charting and order types but the interface can be confusing for beginners. The crypto.com app has everything you need, so you’d only use the Exchange for slightly lower fees or advanced order types.

Advanced Desktop Trade

List of coins

Crypto.com app interface

Crypto.com app interface while trading

Security Compliance

Kucoin provides world-class security meaning your coins are in relatively safe hands. It has two-factor authentication, so you can prevent unauthorized access to your account.

Keep in mind, $275 million worth of crypto was stolen from Kucoin by North Korean hackers in 2020. Later, $200 million of the stolen funds was recovered. Still, it doesn’t bode well for Kucoin. If you have funds on the exchange, it’s best to move them to a private crypto wallet.

Crypto.com is highly secure crypto exchange. They keep funds in cold storage, offer two-factor authentication to keep accounts secure, encrypt user data, and more.

Crypto.com keeps 100% of users’ funds in cold storage, specifically in a Ledger vault. This percentage is the highest we’ve seen of any crypto exchange, showing crypto.com truly values security. Crypto.com also has $750M in cold storage insurance in case of theft.

Crypto.com also makes its users whitelist all withdrawal addresses via email and users multi-factor authentication - such as FaceID - to

Both exchanges prioritize the security and safety of their users' funds. Crypto.com stores 100% of customer funds in cold storage, ensuring a high level of security. KuCoin also employs multiple security measures, including dynamic multifactor authentication. Both exchanges have measures such as two-factor authentication and withdrawal confirmations to protect user accounts.

Regulatory Compliance

In June, 2021, the Ontario Securities Commission stated that Kucoin was illegally offering its residents securities and derivatives trading, but Kucoin did not respond to this. As a result, Kucoin is still available in Ontario as well as the rest of Canada. You can use Kucoin at full capacity whether it’s a simple buy order at market price or a more advanced order type. Bear in mind, Kucoin does not allow Interac e-Transfer to deposit Canadian dollars to your account. Instead, you will have to use a debit or credit card or a SWIFT transfer with USD.

Crypto.com is fully regulated and can be accessed in Canada, USA (except New York), Europe, and other countries around the world.

KuCoin has been banned from operating in Ontario, Canada. The Ontario Securities Commission (OSC) imposed a fine of $2,000,000 on KuCoin, along with investigation costs, for operating in the province without complying with the OSC's regulations.

Crypto.com has demonstrated its commitment to regulatory compliance in Canada by signing a pre-registration undertaking with the Ontario Securities Commission (OSC). This milestone achievement establishes Crypto.com as the first global crypto exchange to adhere to the OSC's regulations, providing residents in Ontario and other Canadian provinces with a trusted platform to utilize Crypto.com's services with confidence.

Customer support

Kucoin offers helpful FAQs and online ticketing service for their customers as well as 24/7 support and a live chat option.

The customer support for crypto.com is quite slow. Users like the app, security, and the wide range of coins, but the customer service needs work. Crypto.com does not offer educational resources or a knowledge centre, which is a let down.

While both exchanges have some drawbacks in terms of customer support, Crypto.com has received mixed reviews on platforms like Trustpilot, with some customers expressing dissatisfaction with withdrawals and customer service. On the other hand, KuCoin's customer support reputation was not specifically mentioned in the provided information.

Conclusion

Both KuCoin and Crypto.com offer a range of services and features for cryptocurrency enthusiasts. However, considering the provided information, KuCoin stands out as the winner due to its wider range of available cryptocurrencies and advanced trading features. It is important to note that Crypto.com has its own strengths, such as its robust security measures and unique features like staking and crypto Visa cards. Ultimately, the choice between the two exchanges depends on individual preferences and specific needs.

We recommend choosing Kucoin over Crypto.com for your cryptocurrency trading needs. By opting for Kucoin through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Kucoin nor Crypto.com meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.

Author

Oleg Galeev

Cryptocurrency Specialist

Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.