Quantum key distribution (QKD) provides unconditional security in theory. However, practical QKD systems face challenges in maximizing the secure key rate and extending transmission distances. In this paper, we introduce a comparative study of the BB84 protocol using coincidence detection with two different quantum channels: a free space and underwater quantum channels. A simulated seawater was used as an example for underwater quantum channel. Different single photon detection modules were used on Bob’s side to capture the coincidence counts. Results showed that increasing the mean photon number generally leads to a higher rate of coincidence detection and therefore higher possibility of increasing the secure key rate. The secure key rate can reach 0.0239 (bits/pulse) with a quantum bit error rate (QBER) of 3.2% for the free space channel and 1.5% for the simulated sea-water channel. The security parameters for each value of the mean photon number closely align with the corresponding theoretical predictions. However, some discrepancies were observed, primarily due to a mismatch in photon detection efficiency for SPDMs and system fluctuations. The theoretical calculations also predict that using coincidence detection, the key can be distributed over distances of up to 195 km.