KuCoin and MEXC are the two leading "second-tier" exchanges among crypto users, both known for small-cap and early-stage tokens. The short answer: MEXC lists new tokens faster than anyone in the industry (1,800+ new coins added in 2025), but its liquidity and order-book depth are weaker. KuCoin lists slightly slower than MEXC, but its liquidity and spot depth are more stable, making it the go-to for established projects and contested tokens like Pi Network. For your main account, register through the Binance official site, install the official Binance app on Android, and iPhone users should first check the iOS installation guide for switching to an overseas Apple ID before installing the main Binance app.
The metrics small-cap traders care about most:
| Metric | KuCoin | MEXC |
|---|---|---|
| Spot-tradable coins | ~880 | ~2,400 |
| Total spot trading pairs | ~1,320 | ~3,200 |
| Perpetual futures coins | ~280 | ~950 |
| Average new listings per month | 30-50 | 80-150 |
| Listing review cycle | 2-6 weeks | 1-3 weeks |
| Early-project first-listing coverage | 30%-40% | 60%-70% |
| Delistings per year | 50-80 | 200+ |
MEXC lists 2.7x as many spot-tradable coins as KuCoin, and 5.8x as many as Binance. MEXC essentially "lists with almost no bar," making it the most aggressive listing venue in the industry. The tradeoff is a high delisting rate (200+ a year), with a large share of newly listed tokens going to zero.
KuCoin's listing review is comparatively stricter, positioning itself as a "curated" venue for small-cap coins. For first listings of Memecoins, AI tokens, and L2 project tokens, MEXC is typically 1-2 weeks ahead of KuCoin.
Q: Where should you buy a token that just launched?
For early-stage tokens within 24-72 hours of launch, MEXC is the top choice, with the best coverage in the industry. But liquidity right after MEXC listing is thin (a shallow order book), so large buys tend to eat heavy slippage. Buying on-chain (Solana, Base, BNB Chain) with tools like GMGN or Photon is usually 20%-50% cheaper than the price when the token hits MEXC.
On fees, MEXC has long run a zero-fee strategy:
| Metric | KuCoin Spot | MEXC Spot | KuCoin Futures | MEXC Futures |
|---|---|---|---|---|
| Regular user maker | 0.1% | 0% (select coins) | 0.02% | 0.0% |
| Regular user taker | 0.1% | 0% (select coins) | 0.06% | 0.02% |
| KCS/MX discount | 20% off | Not applicable | 20% off | Not applicable |
| VIP 1 maker | 0.09% | 0% | 0.018% | 0.0% |
| VIP 5 maker | 0.05% | 0% | 0.008% | -0.005% |
| Bulk OTC | Negotiable | Negotiable | Negotiable | Negotiable |
MEXC's "zero fee" is the most aggressive fee strategy in the industry: 0% maker/taker on most spot coins, 0% maker on futures. MEXC has held to this strategy for over 5 years.
But the cost of MEXC's zero fees is weaker liquidity: market makers are sensitive to 0% fees and are less willing to post orders. MEXC's order-book depth is typically only 1/20 to 1/50 of Binance's. The fees you save are often eaten up by slippage.
KuCoin's fees are on par with Binance's (starting at 0.1%), dropping to 0.08% with KCS discounts applied. Its liquidity is better than MEXC's but doesn't match Binance's.
Q: Is zero-fee really zero-cost?
Zero fees don't mean zero cost. MEXC's "hidden costs" include:
Total real-world cost on MEXC isn't necessarily lower than KuCoin's — only large trades in small-cap coins truly benefit from the zero-fee advantage.
Small-cap depth tested in April 2026:
| Coin | KuCoin 24h Volume | MEXC 24h Volume | KuCoin Slippage on a $10K Order | MEXC Slippage |
|---|---|---|---|---|
| BTC/USDT | $420M | $880M | 0.05% | 0.04% |
| ETH/USDT | $180M | $320M | 0.08% | 0.06% |
| TIA/USDT (Celestia) | $12M | $8.5M | 0.4% | 0.7% |
| ORDI/USDT | $8.5M | $15M | 0.5% | 0.6% |
| Early Memecoin (market cap < $1M) | $50K-500K | $200K-2M | 1-3% | 2-5% |
For majors (BTC/ETH), MEXC's volume is slightly higher than KuCoin's, but depth is comparable. For mid-cap coins (TIA, ORDI), KuCoin has better liquidity and lower slippage. For early Memecoins (under $1M market cap), MEXC has higher volume but also wider spreads.
Q: Which one is better for mid-cap coins ($100M-$1B market cap)?
For mid-cap coins, KuCoin beats MEXC. KuCoin's order-book depth is friendlier for this tier of coins, with slippage on a $10,000 order 30%-40% lower than on MEXC.
Memecoin traders are a core user group for both MEXC and KuCoin:
| Memecoin type | KuCoin Coverage | MEXC Coverage |
|---|---|---|
| Blue-chip Memecoins (DOGE/SHIB/PEPE) | 100% | 100% |
| Solana Memecoins (market cap > $100M) | 80% | 95% |
| Solana Memecoins ($10M-$100M market cap) | 30% | 70% |
| Base Memecoins (BRETT/TOSHI, etc.) | 40% | 75% |
| BNB Chain Memecoins | 50% | 70% |
| Memecoins launched within 24h | 5% | 30% |
MEXC has an overwhelming advantage in coverage of small-cap Memecoins. If you're running a "Memecoin CEX-follow strategy" (buying on-chain early, selling on a CEX), MEXC is the top pick.
KuCoin's Memecoin selection is more curated — "junk coins" under a million dollars in market cap rarely get listed on KuCoin. That means the Memecoins that do make it onto KuCoin at least have some real trading volume and community backing.
Q: Which one is better for buying a Memecoin on-chain early and then selling on a CEX?
For buying early on-chain and then selling on a CEX, MEXC is the top choice, with the widest coverage and fastest listing speed. But watch out for withdrawal restrictions: MEXC sometimes doesn't open withdrawals for freshly listed Memecoins (trading only), so confirm withdrawals are open before you transfer any in on-chain.
| Metric | KuCoin Futures | MEXC Futures |
|---|---|---|
| Perpetual futures coins | ~280 | ~950 |
| BTC perpetual 24h volume | $1.2B | $2.8B |
| ETH perpetual 24h volume | $650M | $1.1B |
| Max leverage | 100x | 200x (select coins) |
| Funding rate interval | Every 8 hours | Every 8 hours |
| Demo trading | Supported | Supported |
| Copy trading | Supported | Not supported |
MEXC's futures coin count (950+) is close to the highest in the industry, three times more than Binance's 320. MEXC opening futures on a token just hours after it launches is a core feature.
But MEXC's futures depth doesn't match major exchanges: BTC perpetual volume is $2.8B (about 1/10 of Binance's $28B), and small-cap futures depth is even thinner. MEXC's 200x leverage is a marketing gimmick — in practice, any leverage above 50x is a high-risk move.
Q: Can you trade futures on a coin that just listed?
Trading futures on a coin that just listed is extremely high risk. Depth is thin, volatility is high, and it's easy to get wick-liquidated by market makers. Even at 5x-10x leverage, the probability of getting liquidated within a week of a new listing exceeds 60%. Stick to spot holdings on new coins — don't touch futures.
KuCoin's security history:
MEXC's security history:
KuCoin's transparent handling and high recovery rate (84%) after the 2020 hack is considered an industry benchmark, but it's still a negative record. MEXC has never had a major hack, but it has more compliance disputes (South Korea, the US).
Q: Which one is better for long-term storage?
Neither KuCoin nor MEXC is recommended for storing large amounts long-term. Both are positioned as "small-cap trading venues," not long-term custody platforms. It's best to transfer assets back to your main Binance/Coinbase account or a hardware wallet promptly after trading.
| Metric | KuCoin | MEXC |
|---|---|---|
| Localized app | Full | Full |
| Local-language support | 24/7 | 24/7 |
| Median support response time | 8-20 minutes | 5-15 minutes |
| Mainland China C2C merchants | ~600 | ~800 |
| Alipay merchant share | 50% | 60% |
| Bank card deposits | Partially supported (VISA/Master) | Partially supported |
| Community group size | 80K | 120K |
Both exchanges do well on localization, with MEXC slightly ahead (faster support response, more active community groups). MEXC has more C2C merchants than KuCoin, but merchant quality is uneven, and the rate of frozen bank cards is slightly higher on MEXC (per 2025 user feedback data).
Q: Which one should you use as your main trading account?
Neither KuCoin nor MEXC is recommended as a main trading account. Both are better suited as "small-cap side accounts," while your primary trading and long-term holdings should sit on Binance.
| License region | KuCoin | MEXC |
|---|---|---|
| United States | MTL in some states; US users now restricted over compliance issues | Doesn't serve the US |
| EU MiCA | Registered in some countries | Registered in some countries |
| UK FCA | No | No |
| Singapore MAS | No | No |
| Hong Kong SFC | No | No |
| UAE Dubai VARA | No | No |
| Bahrain CBB | No | No |
| Seychelles FSA | Yes (registration) | Yes (registration) |
| Country of registration | Seychelles | Seychelles |
Both exchanges are clearly behind Binance/OKX/Coinbase/Kraken on compliance licensing. Both are registered in Seychelles (an offshore financial center), with weaker regulatory oversight.
Q: Should users in strictly regulated countries use KuCoin/MEXC?
Users in strictly regulated countries (the US, UK, Canada, Australia) are advised against using KuCoin/MEXC, since it may involve unregistered-operation risk. For users in mainland China, the risk is neutral (in a similar gray area to Binance/OKX).
For catching Memecoins early:
MEXC is the top choice, with the broadest coverage and the fastest listings.
For mid-cap small coins ($100M-$1B market cap):
KuCoin is the top choice, with friendlier depth and slippage.
For contested projects like Pi Network:
KuCoin is the top choice (Pi IOU trading opened earlier on KuCoin). MEXC also supports it but with weaker liquidity.
For primary trading and long-term holdings:
Neither is recommended. Your main account should be Binance/OKX/Coinbase/Kraken.
For small-cap futures:
MEXC has the most coins but comes with high risk. Beginners should avoid small-cap futures entirely.
Q: Can I register on both KuCoin and MEXC at the same time?
Yes. They're separate companies and KYC data isn't shared between them. It's best to use completely different emails and passwords.
Q: What's KuCoin's KCS token used for?
KCS is KuCoin's platform token, used for fee discounts (20% off), platform profit-sharing (KuCoin Bonus, a monthly revenue dividend), and Launchpad purchase privileges. Holding KCS long-term carries dividend value.
Q: What's MEXC's MX token used for?
MX is MEXC's platform token, used for fee discounts (on select coins), Kickstarter voting for new listings, and airdrop eligibility. MX doesn't pay direct dividends.
Q: Will MEXC's zero fees ever go away?
MEXC has held to zero fees for over 5 years. But zero fees only apply to select coins (roughly 60%-80% of spot pairs), and while futures makers are zero-fee, takers still pay 0.02%. MEXC has repeatedly stated that zero fees are a long-term strategy, but policy could change in the future.
Q: Which one is cheaper for USDT withdrawals?
For TRC20 USDT withdrawals, KuCoin charges 1.5 USDT per transaction versus MEXC's 1 USDT. For ERC20, KuCoin charges 5-8 USDT versus MEXC's 5-10 USDT.
Q: Is KuCoin accessible in mainland China?
KuCoin's official domain (kucoin.com) is blocked in parts of mainland China, requiring compliant network tools to access.
Q: Can MEXC's small-cap futures really go up to 200x leverage?
MEXC supports up to 200x leverage on select small-cap futures, but any leverage above 50x on small-cap coins carries an over 80% chance of liquidation. This is a marketing gimmick — don't use it in practice.
Q: Can KuCoin still be trusted after its 2020 hack?
KuCoin's handling of the 2020 hack was transparent, with 84% of assets recovered and the remaining 16% covered by platform funds — widely seen in the industry as a well-handled response. Its cold/hot wallet separation was upgraded afterward, and no similar incident has occurred since. But it's still not recommended to keep large amounts there long-term.
Risk disclosure: This article is an independent third-party comparison and does not constitute investment advice. KuCoin and MEXC are suitable as dedicated small-cap accounts, not for storing large amounts long-term. All data is as of April 2026.