BYDFi vs. KuCoin: Which Exchange Offers Better Copy-Trading?

Copy trading has become very popular among those individuals who wish to participate in the cryptocurrency markets but do not have enough time, experience, or confidence to perform active trading. Through copy trading, users are allowed to implement strategies used by expert traders in real-time directly onto their portfolios. Some of these top-rated exchanges in this niche include BYDFi and KuCoin. They also fall among a handful of platforms with millions of users internationally, providing competitive trade offerings focusing on facilitating easier entry into crypto trading for both novices and experts.

Introduction to BYDFi

BYDFi began operations in 2020 as an international social trading platform. It used to operate under the name BitYard before rebranding in 2023 to BYDFi, which means “BUIDL Your Dream Finance.” This platform accommodates over 190 countries and has already chalked up more than one million registered users. Available features include spot trading, perpetual contracts, grid trading, martingale strategies, and copy-trading—one of its most promoted features.

Forbes put the company in its top ten exchanges for 2023. It has seen steady growth with key steps that include deals with Ledger for wallet safety and the start of MoonX, a Web3 on-chain trade tool. Its copy-trading feature is pushed as a special edge since it cuts barriers to entry so even small traders can take part.

Introduction to KuCoin

KuCoin͏ is among the biggest and most popular international exchanges. Established in 2017, it has come to be referred to as “The People’s Exchange.” With above 40 million signup users from over 200 nations, KuCoin happens to be among the leading exchanges for both spot and futures trading. It provides spot trading, margin, futures, options, staking͏ and lending plus some extra services like having mining pool offerings alongside a robust DeFi ecosystem.

KuCoin is also popular for the wide scope of tokens it has listed, supporting more than 900 cryptocurrencies. It has developed a good community-based image plus a lively ecosystem built around its native token, KCS. The trading tools in this exchange are very advanced and open up access to bots, margin options, and APIs. It becomes attractive for experienced traders.

Copy-Trading on BYDFi

BYDFi is rich in features. It claims the innovative copy-trading feature as one of its own to put things into action from every beginner who may lack the requisite knowledge to take trading decisions. With BYDFi copy-trading, users can check out professional traders on the platform, review their performance history and choose to follow them. If a user decides to copy a trader, all trades of that trader are replicated by the system in the account of the follower.

Key highlights of BYDFi’s copy-trading system:

• Minimum trade amount is set as low as $10, making it accessible to small investors.
• Users can see transparent data on the traders they wish to follow, including performance statistics.
• Flexible options such as isolated or cross margin can be applied to manage risk.
• BYDFi supports a wide range of assets for copy-trading, from popular coins like Bitcoin and Ethereum to trending tokens and memecoins.
• Beginners can start with a demo account to practice before committing real funds.

This combination of low entry requirements, transparency, and risk management tools makes BYDFi’s copy-trading an appealing choice for new users who want to learn while participating in the market.

Copy-Trading on KuCoin

KuCoin offers what might be termed copy-trading but more closely integrated with its futures market under the superstructure of the KuCoin Trading Bot system, which yields automatization and includes within it a scheme for copy trading. Users can just follow successful futures traders since this bot will be executing similar trades. Though the feature works as intended, it has not been promoted as heavily as BYDFi’s copy-trading system.

Some aspects of KuCoin’s copy-trading experience:

• Focus is mainly on futures trading rather than a broad range of strategies.
• The system is linked with the KuCoin Trading Bot, which offers different strategy modes, including grid trading and DCA.
• KuCoin provides advanced analytical tools, which are more useful for experienced traders than for beginners.
• Minimum investment amounts are generally higher than BYDFi’s, which may limit accessibility for smaller investors.

KuCoin does have the strength of being a very big exchange with an array of services, but the copy-trading function is not at the core of the platform. KuCoin seems, instead, to offer professional traders advanced tools to play with rather than focus specifically on new kids.

Security and Trust

When it comes to copy-trading, users must also consider the safety of their funds.

• BYDFi has dual MSB licenses in the US and Canada, proof of reserves reports, and strong security measures such as cold wallet storage and multi-signature technology. It also recently partnered with Ledger to strengthen asset protection. In addition to its existing security features such as dual MSB licenses, proof-of-reserves, cold wallet storage, and a recent partnership with Ledger, BYDFi announced on November 27, 2024, that it has joined the CODE and VerifyVASP Alliances. This step signals its commitment to complying with South Korea’s Travel Rule and aligning with FATF AML standards—further boosting its credibility and transparency in the global crypto ecosystem.
• KuCoin is one of the top global exchanges, and while it has strong security systems in place, it has faced incidents in the past, such as the 2020 hack. Since then, KuCoin has improved its security infrastructure and provides transparency through audits and proof of reserves checks.

Both exchanges are considered reliable, but BYDFi has recently emphasized its compliance and proof of reserves in a way that makes it very appealing to users focused on transparency.

Accessibility for Beginners

For beginners who are just starting with crypto trading, BYDFi’s copy-trading is simpler to use. It offers low entry fee of just $10 and well-tracked trade performance which helps a person get started without needing to know too much about the technical stuff. And, its demo account lets newbies try out strategies without risking real money.

KuCoin’s copy-trading system is more suitable for those futures traders who are already acquainted with the field and might want to amalgamate copy strategies with other advanced trading tools. KuCoin provides a complex trading environment, but it is not necessarily intuitive for someone who has never traded before.

Final Comparison

• BYDFi Copy-Trading: Beginner-friendly, accessible from as little as $10, transparent trader performance, flexible margin options, demo account support, wide asset coverage, and strong focus on social trading.
• KuCoin Copy-Trading: Integrated into its trading bot system, mainly focused on futures, advanced tools, higher minimum amounts, and better suited for experienced users.

Conclusion

BYDFi and KuCoin certainly are two biggies in the world market, when it comes to crypto exchanges. KuCoin is larger, having a bigger ecosystem and global recognition, while BYDFi is an up-and-comer that’s mostly been focusing on social and copy-trading features.

For beginners who know nothing about trading but wish to get an easy and cheap way to follow professional traders, BYDFi is a much more friendly system. It was intended to be accessible, with copy-trading as a core feature. KuCoin, on the other hand, creates an advanced environment in which copy-trading is offered but doesn’t concentrate the efforts there. So, if you’re trading already and looking to get more advanced strategies, maybe KuCoin would be better.

To sum up, BYDFi suits the beginner who might wish to enter copy trading easily, while KuCoin is better for the sophisticated trader who wants advanced tools.

Those who are exploring other exchanges may also look into an Alternative Kucoin option if they want to prioritize copy-trading above everything else.