Hotbit vs Kucoin | We Show The Best Exchange To Use
Jack Moreau
Feb 2024
9 min read
Fact checked
Hotbit vs Kucoin: Wondering which exchange to choose and which one is better? Our team has conducted a comprehensive comparison to help you make an informed decision. We evaluated various factors such as signup and KYC process, available countries, trading fees, products, user experience and much more!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Hotbit and Kucoin are two popular cryptocurrency exchanges that offer a range of trading options and services to users around the world.
Hotbit, founded in 2017 and registered in Hong Kong, has over 7 million registered users. Kucoin on the other hand was founded in 2017 and is registered in the Seychelles with an impressive userbase of over 20 million.
Kucoin exchange
Hotbit supports a wide range of over 400 cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and many others, and provides access to trading services such as spot, futures, ETFs, and earn products. The exchange is available in over 200 countries and has over 1 million app downloads with an average 3.5-star rating based on 90,000 reviews.
Hotbit app
Kucoin offers one of the widest ranges of altcoins on the market with over 700 cryptocurrencies available for users to buy and sell. Kucoin offers a variety of services including spot trading, margin trading, futures, staking, and lending.
The exchange is available in over 200 countries with restrictions in a few countries like the the United States and China. The Kucoin app has over 5 million app downloads with a good rating of 4.3 based on over 120,000 reviews.
Kucoin Android app
Both Hotbit and Kucoin cater to millions of users worldwide and offer a range of trading options and services to meet the demands of experienced traders and beginners alike.
Hotbit vs Kucoin Signup & KYC
When it comes to the signup process and KYC requirements, there are some differences between Hotbit and Kucoin. Hotbit is a user-friendly exchange that doesn't require KYC verification for users to deposit and trade cryptocurrencies. The signup process is quick and easy, taking less than a minute to complete.
Signing up to Hotbit
Once logged in, users can connect their 2FA and begin trading immediately. However, for those who want to withdraw their funds or increase their trading limits, KYC verification is required.
Kucoin also offers both verified and unverified accounts. Unverified accounts can buy and sell the same cryptocurrencies as verified accounts but with certain limitations. For example, they may have lower trading limits and may not be able to participate in certain promotions.
KYC on Kucoin
The signup process is also quick and easy taking less than a minute to complete. Basic verification can be approved in hours while full KYC verification can take up to 2-3 business days. In conclusion, both Hotbit and Kucoin offer easy signup processes and most importantly, KYC is voluntary on both exchanges and comes with additional perks for those that want them.
Hotbit vs Kucoin Products & Services
Hotbit and Kucoin both offer plenty of products and services that cater to the needs of both professional traders and beginners. However, their user experiences are quite different. Hotbit offers spot and futures trading, demo trading, ETF and earn products on USDT, BTC, ETH, and other coins.
Hotbit spot trading
While it's great that KYC is not required on Hotbit, that also comes with limitations in terms of no fiat deposits or withdrawals. Unfortunately, the interface is quite basic and not very exciting to use.
However, the exchange does processes over $140 million in average daily spot volume and offers a max leverage of up to 100X on perpetual contracts.
Kucoin offers a few more products than Hotbit including basic spot and margin trading for hundreds of altcoins, futures, leveraged tokens and trading bots.
It also offers financial services such as lending and borrowing, staking, an NFT marketplace called Windvave. Kucoin has also launched it's own Web 3 wallet for users that want to access a non-custodial experience.
Staking on Kucoin
The user experience on Kucoin is pretty good overall with a good variety of products and an easy-to-navigate interface. Additionally, Kucoin frequently ranks in the top 10 for daily spot trading volumes with volumes ranging from $600 to $900 million. The max leverage that users can take on Kucoin is 100X and the margin leverage is 10X.
When it comes to crypto trading, fees can really eat into your profits. That's why it's important to choose the right exchange with as low fees as possible. Let's take a closer look at how Hotbit and Kucoin stack up in terms of trading fees.
Hotbit charges a spot trading fee for makers between 0.05% and 0.50% and a fee for takers between 0.2% and 0.65%. Their futures trading fees somewhat puzzling the exact same as their spot fees. Unfortunately, Hotbit doesn't offer any rebates for higher trading volumes, so you'll be stuck with these fees no matter how much you trade.
Kucoin charges a spot maker fee of 0.10% and a taker fee of 0.10%. Their futures maker fee is 0.02% and their taker fee is 0.06%. However, Kucoin does offer additional discounts on fees for those whose monthly trade volumes exceed 50 Bitcoins or those holding at least 1000 KCS tokens.
Kucoin spot fees
Kucoin offers both a simpler fee structure than Hotbit but most importantly, it's spot and futures fees are much lower than Hotbit. Kucoin's ability to lower fees for higher trading volumes or holding tokens also gives it an additional edge over Hotbit for those looking to make larger trades.
While both Hotbit and Kucoin allow users to trade multiple cryptocurrencies, they differ in their approach to fiat deposits. In short, Hotbit does not support any fiat deposits.
This means that users cannot deposit currencies such as USD or EUR directly into their Hotbit accounts. Instead, the only way to add funds to a Hotbit account is by depositing cryptocurrencies like Bitcoin. Users on Hotbit can also buy crypto on the exchange through third-party providers but this option comes with hefty fees.
Buy crypto on Hotbit with card
Kucoin supports the deposit of fiat currencies for 28 different currencies such as EUR, AUD, CHF, GBP, and RUB. However, most of the fiat deposit options on Kucoin are limited to Visa and Mastercard.
Kucoin fiat deposit
Additionally, Kucoin charges a high 3.8% deposit fee for deposits made using Visa and Mastercard. Fiat deposits is one area where both Hotbit and Kucoin are lacking where alternative exchanges such as Kraken and Binance does a much better job offering more fiat currencies, more deposit options and lower fees.
Hotbit and Kucoin are two popular cryptocurrency exchanges that offer various withdrawal methods for their users. Let's take a closer look at the withdrawal methods offered by each exchange.
Hotbit as you may suspect by now does not offer any fiat withdrawal methods. But it does provide cryptocurrency withdrawals for its users with fees ranging from 0.001 BTC for Bitcoin, 0.01 ETH for Ethereum and 2 USDT for Tether USD.
Kucoin does offer fiat withdrawals but only for EUR via SEPA. Kucoin charges a fee of 5 EUR for SEPA withdrawals. When it comes to crypto withdrawals, Kucoin's withdrawal fees for Bitcoin and ETH matches Hotbit's at 0.001 BTC and 0.01 ETH, respectively.
Hotbit and Kucoin are both popular cryptocurrency exchanges that cater to millions of users around the world. Hotbit offers over 400 cryptocurrencies and supports spot, futures, ETFs and earn products. It has over 7 million registered users and is available in over 200 countries.
On the other hand, Kucoin offers over 700 cryptocurrencies, spot and margin trading, futures, staking, lending, and an NFT marketplace. It has an impressive userbase of over 20 million and is available in over 200 countries, with restrictions in the United States and China.
When it comes to signup processes and KYC requirements, Hotbit is a user-friendly exchange that doesn't require KYC verification for users to deposit and trade cryptocurrencies. Meanwhile, Kucoin offers both verified and unverified accounts, with different limitations for each.
In terms of trading fees, Hotbit charges a higher spot trading fee for makers that ranges between 0.05% and 0.50% and a fee for takers between 0.2% and 0.65%, while Kucoin charges a simple and lower spot maker fee of 0.10% for makers and takers.
Overall, the main benefits of both exchanges are the lack of KYC and the decent range of products. Kucoin however stands out by offering both more cryptocurrencies, products and much lower trading fees than Hotbit.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
