Post
Topic
Board Trading Discussion
Re: Kucoin vs FTX...which one do you recommend?
by
9thsky
on 10/11/2021, 11:28:50 UTC
Actually, I never heard about FTX before until someone talks about it recently there is an app called Blockfolio it's a portfolio tracking tool and now become FTX.
What I heard before with this exchange is that the Bitcoin withdrawal fee is free compared to Kucoin that deducts mining fees for withdrawal.

FTX is now changed its mind about unverified users and you can't able to deposit, trade, and withdraw if you are not KYC verified but their teir 1 KYC verification doesn't need any government IDs and only take name and address to become tier 1 KYC verified but the withdrawal limit is around $2000.

Unlike Kucoin that you can still able to withdraw around 1BTC limit daily without KYC which is big enough compared to FTX.

Honestly, never use FTX so I can't decide how good they are but as I said above FTX is new to me that is why I don't know if how good FTX exchange is the only advantage of this exchange is that the Bitcoin withdrawal fee is free.

I already trade on Kucoin as a non-verified user so Kucoin would be still the best choice compared to FTX due to the withdrawal limit and there are more coins and pairs that you can trade compared to FTX.


FTX:
  • Cheap/free withdrawals, capped at $2000 per day without KYC
  • A bit more regulatory friendly, probably a lot less likely to get pursued by the authorities
  • Overall great reputation

KuCoin:
  • Existed longer
  • Far higher withdrawal limits
  • Probably somewhat close to Binance in terms of the likeliness of them pissing off the regulators

Is it true that I cannot withdraw fiat from Kucoin to a bank account, whereas on FTX it is possible to do so but you'd have to be fully verified?