KuCoin, a cryptocurrency exchange based in Seychelles, has become popular among many traders worldwide. But if you’re searching for an alternative, what other options are out there? This guide looks into exchange fees, security features, user interface, supported cryptocurrencies, customer support, and KYC requirements for several leading exchanges. If you’re in the United States and are looking for a KuCoin app alternative, this is for you.
Methodology
This guide selected 14 of the leading KuCoin alternatives in the U.S. The platforms were chosen based on several strict criteria, and the selection followed eight months of testing via BeInCrypto’s product testing teams. Here’s a breakdown of why each exchange was picked.
Coinbase
- Insured digital currency deposits
- User-friendly interface suitable for beginners
- Offers a Visa debit card to spend cryptocurrency
- Advanced Coinbase Pro platform for experienced traders
Uphold
- Supports cryptocurrencies, precious metals, U.S. equities
- Provides an Uphold card for spending digital assets
- Allows users to withdraw funds to bank accounts and private wallets
BYDFi
- Offers spot, futures, and options trading
- Unified margin and low fees on transactions
- Mobile app available for trading on the go
- No KYC is required for basic account functionality
- User-friendly interface with advanced chart tools
Kraken
- Strong security with 2FA and cold storage
- Offers futures and margin trading
- High liquidity with low slippage
- Detailed, customizable user interface
- Educational resources available on the site
ApeX Pro
- Non-KYC platform welcoming global users
- Low fee structure enhances profitability
- User-friendly interface with advanced trading tools
- Efficient customer service via email
- The copy trading feature enables users to follow expert trades
BingX
- Copy trading supports novice traders in learning
- Competitive fee structure
- User-friendly interface for easy navigation
- The fast and seamless withdrawal process
- Range of cryptocurrencies, including altcoins
- Community features for trader interaction
Cash App
- Integrated Bitcoin buying and selling
- Simple and minimalistic user interface
- Ability to withdraw Bitcoin to personal wallets
- Offers stocks and Bitcoin investments
- There are no fees on basic transactions
- Direct deposit paychecks into your account
Binance U.S.
- Wide selection of cryptocurrencies
- Offers staking rewards on digital assets
- Advanced trading with futures and options
- Robust API for algorithmic trading
- Fee discounts for BNB token holders
Gemini
- Strong regulatory compliance focus
- Offers Gemini Pay to spend crypto at retail locations
- User education through Gemini Academy
- High security with insurance on deposits
- Simple, clean user interface
- Earn interest on cryptocurrencies through Gemini Earn
dYdX
- Decentralized platform for secure trading
- No KYC requirements for a private experience
- Offers high leverage on derivative products
- Liquidity pools for better price stability
- Layer-2 scaling solutions for low-cost transactions
- Smart contract-based for added security
Bitfinex
- Advanced trading features, including peer-to-peer lending
- High liquidity and a large selection of altcoins
- Organizational-grade security with cold storage
- Margin trading with multiple leverage options
- Customizable interface and API support
Crypto.com
- Extensive crypto card options with rewards
- Offers a DeFi wallet for user-controlled private keys
- High liquidity with a wide range of cryptocurrencies
- Earn interest on crypto deposits
- Loyalty program with benefits for token holders
- Integrated app for trading, payments, and investments
Bitstamp
- Long-standing reputation with robust security measures
- Competitive fee structure with no hidden fees
- Supports fiat to crypto transactions
- User-friendly for beginners and institutional traders
- High-speed matching engine for quick trades
- 24/7 customer support via multiple channels
CEX.IO
- Offers cross-platform trading with a mobile app
- Multiple payment options for easy fund deposits
- Staking crypto for rewards
- Margin trading with competitive interest rates
For further information and insight into BeInCrypto’s verification methodologies, click this link.
- The best KuCoin alternatives for U.S. users in 2024
- 1. Coinbase
- 2. Uphold
- 3. BYDFi
- 4. Kraken
- 5. ApeX Pro
- 6. BingX
- 7. Cash App
- 8. Binance U.S.
- 9. Gemini
- 10. dYdX
- 11. Bitfinex
- 12. Crypto.com
- 13. Bitstamp
- 14. CEX.IO
- Why look for a KuCoin alternative?
- KuCoin vs. DOJ: Legal battle sparks concerns
- What to consider when choosing a KuCoin alternative
- The best KuCoin alternative for you
- Frequently asked questions
The best KuCoin alternatives for U.S. users in 2024
1. Coinbase
Many users find Coinbase to be a viable alternative to KuCoin in the U.S. due to its simplicity, reliability, and broad suite of features. Coinbase offers seamless buy, sell, and trade functionalities, along with the possibility to use crypto on a Visa debit card issued by them. It is recognized for its user-friendly interface, making it an easy choice for beginners and experienced traders alike.
Users commend Coinbase’s security measures and trustworthiness, making it one of the prominent crypto exchanges in the U.S.
The platform also offers reward programs where users can earn free crypto. Additionally, many have highlighted the platform’s efficient customer support, which they believe resolves issues promptly. However, for some users, mandatory KYC requirements will be considered a drawback.
2. Uphold
Uphold is a global digital asset trading platform that is popular for allowing you to take advantage of a diverse set of asset classes. Some of these include more than 250 cryptocurrencies, 4 precious metals, 27 fiat currencies, and a select offering of stocks depending on your location.
The platform sources liquidity from 26 different exchanges to help you find the best prices. Uphold also prides itself on its assets being 100% backed. A common saying that you will hear associated with the trading platform is that they never loan out your money.
Lastly, Uphold also has a flagship wallet. It offers multi-chain support and allows you to hold some of your favorite currencies like KAS. It is available on Android and iOS.
3. BYDFi
Based on user feedback, BYDFi is seen as an excellent alternative to KuCoin in the United States. Users emphasize the platform’s user-friendliness, low trading fees, and high-security level.
The platofrm features lan intuitive mobile app interface, generous giveaways, and a wide range of services as well as active customer support. BYDFi’s robust security measures, range of cryptocurrencies, and advanced trading features are also solid. The platform’s positive reputation within the crypto community further solidifies it as a reliable option for both new and experienced traders.
4. Kraken
We chose Kraken as a top KuCoin alternative because of its strong reputation for reliability, swift customer service, and a deep commitment to security and the ethos of cryptocurrency. Many users appreciate Kraken’s straightforward, fast, and user-friendly transaction processes. The platform offers reasonable fees and a pro edition that significantly enhances the trading experience. A particularly notable feature is the ‘Global Settings Lock,’ a tiered security system that protects users even if their password is compromised. Additionally, Kraken has demonstrated efficient problem-solving capabilities, such as quickly locating and crediting deposits made without a reference number, which further solidifies its position as a user-favored exchange.
5. ApeX Pro
We chose Apex Pro as a top KuCoin alternative because it stands out based on user testimonials, particularly for its competitive advantages in the U.S. market. Many users applaud Apex Pro for its low fees and ability to leverage trades that are higher than those offered by other platforms. An appealing feature is that trading can begin immediately without verification by linking a cryptocurrency wallet. While Apex Pro may offer limited educational content or a wide range of staking options, the platform is well-regarded for its vibrant online community and responsive email support. Despite lacking live chat or ticket-based support, Apex Pro’s strengths make it a leading choice among non-KYC crypto exchanges.”
6. BingX
Many users in the U.S. rate BingX for its competitive lower fee structure, quick and easy withdrawal processes, and user-friendly interface that appeals to a broad audience. Additionally, BingX stands out with its copy trading feature, which allows less experienced traders to mimic the strategies of more seasoned investors, potentially enhancing their chances for profit.
It’s important to acknowledge that these positive aspects are based on the experiences of some users. Conversely, there have been criticisms regarding hidden fees and less than satisfactory customer service. As with any crypto exchange, experiences can vary significantly, making it essential to conduct thorough research before settling on a platform.
7. Cash App
Cash App is a highly suitable KuCoin alternative and deserves a spot in our list. Users highlight the application’s swift transactions, robust security measures, and intuitive user interface that simplify financial operations. Cash App is well-liked for its customer service, with experiences of rapid dispute resolution and effective handling of fraudulent charges. Users also appreciate the straightforwardness of Cash App’s referral program, which allows them to earn bonuses when friends sign up using their referral codes. The ability to purchase Bitcoin and make cryptocurrency transactions is another appealing feature for many users. Despite a few issues like delayed card replacements and associated fees, users are generally satisfied with the services provided by Cash App.
8. Binance U.S.
Binance U.S. is another great alternative to KuCoin, thanks to its security, cost-effectiveness, liquidity, and user-friendly interface, which are major positives. The platform has an option for whitelisting and is recognized for its low trading fees, which appeal to those seeking capital gains through crypto trading. Users value Binance’s flat fee structure for off-exchange transfers, although some mention that this cost-effectiveness depends on the amount and type of cryptocurrency being transferred. Moreover, the platform is strong in security and boasts of being considered one of the most reliable crypto exchanges. H
9. Gemini
From our perspective, Gemini is a leading KuCoin alternative because it combines user-friendliness with reliable customer service, creating a welcoming environment for new and experienced cryptocurrency enthusiasts. The platform is favored for its straightforward buying process and fair fees, which make trading accessible to a broad audience. Gemini has built a strong trust among its users through proactive customer support and strict regulatory compliance, ensuring a secure trading experience. Additionally, the platform is noted for its efficient transaction processing and the continuous expansion of its cryptocurrency offerings, which keeps it competitive and relevant in the fast-evolving crypto market. Users also appreciate the added convenience of the Gemini credit card, which extends the platform’s utility, and value Gemini’s transparency across all its services.
10. dYdX
From our perspective, dYdX is a top KuCoin alternative because it excels in offering advanced cryptocurrency products like derivatives through decentralized exchange (DEX) technology. This non-custodial approach, built on audited smart contracts on the Ethereum blockchain, removes the need for trusted intermediaries, thereby enhancing the security of transactions. dYdX operates without KYC requirements, welcoming users globally and promoting a more inclusive trading environment. Additionally, the platform is designed to cater to a diverse group of traders with user-focused features, such as a maker-taker fee structure and fee discounts that scale with the user’s holding size. These elements collectively position dYdX as an attractive and secure option for traders seeking robust, decentralized solutions.
11. Bitfinex
Bitstamp is another one of the KuCoin alternatives in the U.S. and is often praised by users for its swift, efficient customer service, even outside standard business hours. Bitfinex has earned a reputation for its prompt, helpful support team, trustworthiness, and robust platform. Although it has faced some controversies, users feel the platform’s transparency and ability to weather adversity contribute to its reliability. The platform’s security, low trading fees, and thorough human-led KYC verification are positives. However, some users have mentioned the verification time length as a potential improvement area.
12. Crypto.com
Crypto.com is one of the best KuCoin alternatives since it offers a user-friendly platform with several trading options and attractive yields. Despite occasional delays due to network congestion, users find the service reliable for transfers, fiat deposits, and withdrawals. The mobile app’s simplicity and safety measures are important to note and recommended for new users willing to learn about crypto investing. While customer service may not be the fastest, users find it helpful and proactive. However, reduced yields and slightly higher fees have been noted. As with any platform, personal experiences vary, and further research is advised.
13. Bitstamp
Bitstamp has been praised as one of the reliable KuCoin alternatives in the U.S. thanks to its excellent customer service, including the rare opportunity to interact with human support representatives.
Users highlight its trustworthy and efficient withdrawal and deposit system, making transactions smoother. The platform’s thorough KYC and compliance procedures are also appreciated for their contribution to maintaining financial security and trustworthiness. Bitstamp’s low fees and availability of technical support, even on weekends, enhance user experience. Despite a somewhat lengthy verification process, users believe it’s necessary for a safer trading environment.
14. CEX.IO
Last but not least, CEX.IO has emerged as a noteworthy KuCoin alternative in the U.S. Notable positives include an intuitive interface, prompt and direct withdrawals to bank accounts, and an excellent track record for the safety of customer funds. The platform offers low trading fees and unique features, such as a robust crypto staking program. While some users have suggested improvements in customer service responsiveness, the overall user experience has been reported as highly satisfactory, making CEX.IO a recommended choice for many.
Why look for a KuCoin alternative?
Starting July 15, 2023 (UTC), newly registered users were required to complete their KYC to use KuCoin’s products and services. This identification check requirement was fine for most traders. However, some traders considered moving to new platforms in response to the regulation.
KuCoin vs. DOJ: Legal battle sparks concerns
KuCoin’s legal tussle with the U.S. Department of Justice (DOJ) gives you another reason to consider switching to an alternative.
On March 26, 2024, the DOJ announced that it had indicted KuCoin and two of its founders for operating as an unlicensed money transmitter. The indictment accuses KuCoin of failing to register with the Financial Crimes Enforcement Network (FinCEN) and violating anti-money laundering (AML) regulations.
According to the DOJ, KuCoin is legally required to register as a money services business (MSB) with FinCEN. It further states that as an MSB, KuCoin must implement programs to identify and report suspicious activity potentially linked to money laundering or other financial crimes.
However, the indictment added, the exchange broke U.S. laws by processing billions of dollars in transactions from high-risk actors while willfully avoiding AML requirements.
Investors react
Unsurprisingly, the news triggered a swift response from KuCoin users. Data from 0xscope reveals a substantial net outflow of cryptocurrency exceeding $1 billion within just 24 hours of the news.
Blockchain data analytics platform SpotOnChain provides further details on this movement. They reported that roughly $500 million had been specifically withdrawn from KuCoin’s Ethereum wallets shortly after the indictment. This withdrawal involved various cryptocurrencies, including 274 million USDT, 15,500 ETH, and significant amounts of ONDO, FET, and GHX.
KuCoin responds
KuCoin and its CEO, Johnny Lyu, were quick to respond to the news of the DOJ indictment. They acknowledged the ongoing regulatory matter and confirmed their legal team is investigating the details. Lyu further assured users that the exchange was operating normally and user funds were safe.
Why KYC regulation is important in crypto
KYC (Know Your Customer) regulations play a crucial role in the cryptocurrency sector for several reasons. They help prevent financial crimes such as money laundering and terrorist financing by requiring crypto exchanges to verify the identities of their customers. This verification allows the platforms to monitor and report suspicious transactions more effectively.
Additionally, KYC crypto exchange measures contribute to the overall stability of financial markets by ensuring that only legitimate funds circulate, thereby reducing the risk of fraud and other financial crimes. This stability is crucial for attracting and retaining investors and also protects legitimate users by safeguarding their investments against potential identity theft and fraudulent activities.
As always, if you are still looking for a KuCoin alternative, be careful and always research any financial platform before sending your money for trading. Platforms that engage in illegal activities, such as money laundering, are a target for financial watchdogs and may go bankrupt or close down without notice.
What to consider when choosing a KuCoin alternative
No matter which KuCoin alternative you decide to use for crypto trading, here’s some things to consider/actions to take.
- Research the platform’s legitimacy and security protocols, including its measures against fraud and scams, such as pump-and-dump schemes.
- Different platforms accept different payment methods, from bank transfers and PayPal to credit cards and cryptocurrency. Ensure the exchange supports a method convenient for you.
- Exchanges vary greatly in the number of cryptocurrencies they support. Ensure your desired cryptocurrencies are supported.
- Consider if you prefer trading platforms (like Binance or Coinbase), P2P exchanges (like Cointal), or cryptocurrency brokers (like AvaTrade), as each operates differently.
- Understand the exchange’s fee structure, including any discounts available for using the platform’s tokens or for holding a certain amount of tokens.
- An intuitive interface and satisfactory user experience can greatly enhance your interactions with the platform.
The best KuCoin alternative for you
The diversity and quality of KuCoin alternatives available to U.S. crypto traders are extensive. From mainstream exchanges like Coinbase, Binance U.S., and Kraken to peer-to-peer platforms and all the way to emerging decentralized exchanges such as ApeX and dYdX (non-KYC crypto exchanges), there is an alternative that fits every user’s unique needs and preferences.
However, when choosing a platform, factors like ease of use, variety of supported tokens, robust security measures, advanced trading features, and customer service should be your priority. Conducting your due diligence before settling on your preferred platform is essential.
Frequently asked questions
What are some alternatives to KuCoin?
Which is better KuCoin or Huobi?
Is Binance better than KuCoin?
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