LocalCoinSwap or KuCoin – which is better for UK traders 2024? Compare LocalCoinSwap and KuCoin in this detailed breakdown of their platforms, features and fees.
LocalCoinSwap is a DeFi cryptocurrency exchange offering P2P trading on a range of popular tokens. The firm offers both custodial and non-custodial services and has become popular among global crypto traders looking for flexibility. With that said, there are some safety concerns around DeFi exchanges like LocalCoinSwap.
Kucoin is a crypto exchange that offers trading on 1000+ tokens as well as leveraged trading opportunities via futures and perpetual swaps. This exchange has a slick trading platform that supports robots, allowing traders to implement automated strategies. Other attractive features include a demo account, flexible funding methods and DeFi features like staking and mining.
Pros
Impressive range of 300 payment methods including crypto transfers, bank transfers, credit cards and PayPal
Custodial or non-custodial transactions available giving traders full control
Decent educational resources and guides suitable for beginners
24/7 customer support via online request form
Two-factor authentication for added security
You can trade anonymously
Escrow protection
Wide list of tokens with 1000+ cryptos including many low-market-cap tokens
Good range of DeFi products as well as Web3 features including an NFT marketplace
Well-known and reputable in the crypto world
Leverage available via crypto derivatives
Possibility to earn interest on crypto by staking
Good customer service
Low trading fees
Cons
Not the most competitive fees compared to similar firms
Mobile app only available on Android devices
No regulation and limited fund protection
No demo account for prospective users
Security relies on the chosen trader
Like many crypto firms, Kucoin is unregulated
Crypto exchanges are often riskier than trading through a crypto broker
The proprietary platform can feel complex compared to better-known terminals
Kucoin offers copy trading via automated bots with low fees and instant deposits. The service will appeal to beginners new to crypto trading. Users can choose a suitable trader in the marketplace and select 'copy' to start mirroring positions.
Social Trading
No
Yes
Trade Signals
Yes
VPS Hosting
No
No
Tournaments
No
Yes
Demo Competitions
No
No
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Islamic Account
No
No
Account Currencies
USD
EUR
GBP
BRL
Cryptocurrency
LocalCoinSwap offers a small range of crypto tokens such as Paxos and Cello, although the selection is not as wide as competitors. On a lighter note, traders can choose from a strong selection of 300+ payment methods and the platform is easy to learn and use.
With well over 1000 crypto assets available, Kucoin offers a great degree of flexibility. It is excellent to see an extensive range of tokens, as this allows traders to search for lesser-known tokens with a high upside. The crypto futures and perpetual swaps are also good additions to the roster, tradeable with 1:10 leverage.