Trading fees
For Spot:
Maker Fee – 0.1% to -0.005%
Taker Fee – 0.1% to 0.025%
For Futures:
Maker Fee – 0.02% to -0.015%
Taker Fee – 0.06% to 0.03%
Purchasing fees
3% to 5% to buy crypto directly with fiat cash
Supported cryptocurrencies
600+
Platform
Mobile + web
Broker type:
Cryptocurrency, Futures
Education
Yes
Customer Service
Live chat, FAQ
Pros
- A diverse assortment of coins.
- Low fees.
- Advanced trading features.
- Ability to earn interest on crypto.
- Wide selection of coins.
Cons
- Not licensed in the U.S.
- Limited educational resources
Kucoin Review
KuCoin is best suited for seasoned traders who can make the most of the platform’s sophisticated features, which include cheap fees and a diverse offering of coins. However, KuCoin is not authorized to conduct business in the United States. If you’re wondering whether or not you should join KuCoin, read our in-depth review.
About Kucoin?
KuCoin has become a household brand in cryptocurrency, serving as a go-to hub for a wide range of transactions. Since its launch in August 2017, this marketplace has become one of the most vibrant crypto hubs with support for over 600 cryptocurrencies. It has some of the lowest fees in the industry, bank-grade security, a sleek interface, and a user experience designed with beginners in mind. It also offers a wide variety of crypto services, including margin and futures trading, a built-in P2P exchange, the ability to buy crypto with a credit or debit card, instant-exchange services, and the ability to earn crypto by lending or staking via its Pool-X.
There is also a chance to participate in fresh initial exchange offerings (IEOs) via KuCoin Spotlight and it is popular among investors because it lists a diverse range of coins, including lesser-known cryptocurrencies, and returns up to 90% of trading costs to its users in the form of KuCoin Shares (KCS) tokens.
History of Kucoin
The KuCoin Exchange, or “The People’s Exchange,” is a cryptocurrency trading platform based in the Republic of Seychelles. Michael Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhu, and Linda Lin started the cryptocurrency exchange in 2013, and it opened for business on September 15, 2017.
Since then, the firm has expanded dramatically, and it is currently active in over 200 different countries throughout the world.
KuCoin’s initial coin offering (ICO) garnered about $27.5 million in Bitcoin, and the company quickly attracted venture capital backing. KuCoin received $20 million in Series A round investment from NGC Ventures, Karnika Yashwant, IDG Capital, and Matrix Partners in 2018, allowing the firm to grow into new markets and develop its product line.
KuCoin’s second round of investment, in 2021, brought in an extra $150 million. While original backers IDG Capital and Matrix Partners remained committed, new backers Circle Ventures and Jump Crypto took the helm.
Who Should Use Kucoin?
Kucoin is suitable for traders who are not based in the United States but have extensive cryptocurrency trading experience and are looking for a wider variety of currencies and more sophisticated trading tools.
Users in the United States are not recommended to use KuCoin because, even though they may create an account, they will have restricted access to the platform’s functionality. After all, KuCoin is not licensed to operate in the country.
Is Kucoin Safe?
Despite the fact that it provides KYC verification and other security protections that are typical for the industry, KuCoin was hacked significantly in the year 2020. In all, hackers stole more than $280 million worth of cryptocurrency from hot wallets belonging to customers. Fortunately, an insurance policy protected the assets.
KuCoin provides users with a unique trade password in addition to multi-factor authentication and encryption. Users must provide this password in addition to their standard login credentials to conduct trades or withdraw assets. It offers an additional layer of safety and is a type of security feature that is unique among cryptocurrency exchanges.
KuCoin protects its users’ funds with many layers of security, such as micro-withdrawal wallets, industry-level multilayer encryption, and dynamic multi-factor authentication.
Kucoin Platform & Features
Advanced Trading Options
Spot trading is the primary function of any exchange. KuCoin is a cryptocurrency exchange where you can buy and sell over 600 different tokens and cryptocurrencies for a relatively modest fee of 0.1% whether you are a taker or a maker.
Go to the Markets menu and look for the market you wish to trade in. A trade password, which you may set up for further security, must be entered before you can access the trading window. Despite appearances, the structure of the exchange is rather simple and well-organized.
In the middle of 2019, KuCoin introduced its Futures platform, formerly known as KuMEX. Customers can utilize up to 100x leverage while trading Bitcoin (BTC) and Tether (USDT) margined contracts. In other words, if you deposit $100 into your account, you may trade contracts for up to $10,000.
There are two variations of KuCoin Futures: the first, known as the light edition, is geared at inexperienced users, and the second is designed for more seasoned traders (pro version).
KuCoin’s margin trading is another attractive option, as it enables you to leverage your holdings in up to 36 market pairings denominated in USDT, BTC, and ETH by a factor of up to 10x. Coins like Bitcoin, Ethereum, Litecoin, XRP, EOS, ATOM, Dash, Tron, Tezos, and Cardano are all included in the pairings.
You may choose margin trading markets and place margin trading orders directly on the spot exchange, unlike KuCoin Futures.
The Mobile App
Since its inception, the KuCoin exchange has seen no major issues, and it has seldom been overloaded. The KuCoin platform may be accessed on a desktop computer, as well as through the KuCoin app for both Android and iOS.
Ease of Use
If you’re new to cryptocurrency, you’ll have no trouble getting started with KuCoin. All of its pages have a streamlined, contemporary design that is driven by an intuitive API. This trading platform has a powerful core trading engine that can process millions of transactions per second (TPS).
You also have the option of using either the classic or modern UI when trading. Each of the two trade formats has its own set of benefits; ultimately, it’s up to you to determine which one works best for you.
Kucoin Fees & Commissions
KuCoin is a cryptocurrency exchange that has some of the most competitively cheap fees in the industry. It has a price structure that is not overly complicated and is simple to comprehend.
The KuCoin spot trading costs are the first and most important concern. In this marketplace, every transaction is subject to a set fee of 0.1%. Additional trading fee discounts are available based on your 30-day trading volume or KuCoin Shares (KCS) holdings.
If you use the KCS Pay Fee function, which enables you to pay for trading fees using your KCS holdings, you may cut your trading fees even more, regardless of whether you engage in spot trading or margin trading. There is a possible discount of up to 20%.
KuCoin may also utilize the token you’re trading as the fee, eliminating the requirement for external fee payment. You may alternatively choose to pay the cost with a different token. For instance, KuCoin may charge you a fee in the form of the USDT/KCS token whenever you trade BTC/USDT tokens on their platform.
In terms of futures funding fees, KuCoin Futures offers adjustable USD/USDT loan rates, which may be positive or negative to account for comparable funding rates. With this change, the funding fee of KuCoin’s perpetual futures will be zero during normal times, since the lending rate gap between the base currency and quote currency of the funding rate will change from 0.030% to 0%.
Lastly, there are deposits and withdrawals. The deposits are completely free, however, there is a fee associated with withdrawing the funds, which varies depending on the cryptocurrency. KuCoin’s withdrawal costs are competitive with those of Binance, often regarded as the most cost-effective crypto exchange.
Finally, KuCoin is a good option if you wish to purchase cryptocurrency using fiat currency. The P2P desk, rapid buy option, and integrations with Simplex, Banxa, and PayMIR are just a few of the payment methods that are supported by the exchange. Fees on such dealings may differ by payment method, but they should never be more than 5%-7%.
There are currently five major fiat currencies that can be used on KuCoin: USD, CAD, VND, IDR, and CNY.
Cryptocurrencies Available on Kucoin
KuCoin is a prominent cryptocurrency exchange that provides support for over 600 different cryptocurrencies and 1100 different marketplaces. These choices range from the cryptocurrencies that are the most well-known to the digital currencies that are the newest and least well-known.
You won’t find a variety of cryptocurrencies quite as extensive as the one offered by KuCoin at any other exchange or brokerage. KuCoin is worth looking at if you want to trade in coins that aren’t as widely used as others. In addition to that, it features a Spotlight section that highlights emerging cryptocurrencies and encourages individuals to invest in them at an early stage. Be warned, however, that newer or less well-known coins entail a higher level of risk than more established ones.
Here is a small sample of the coins you can buy on KuCoin right now:
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Polkadot (DOT)
- Shiba Inu (SHIB)
- XRP (XRP)
How to Open An Account?
Go to KuCoin’s site to sign up for an account. Then, in the upper right corner, select the option to sign up.
Next, the exchange’s rules will be laid out for you. After you have done so, check the box indicating that you agree to the terms and conditions, and then click the next button.
You’ll need to put in your email address and pick a robust password. Last but not least, activate your account by verifying your email address using the URL KuCoin provides you.
That’s it, you’re all set up with a KuCoin account! You may now fund your account with cryptocurrency and begin trading right away.
As of November 1, 2018, KuCoin is compliant with the virtual currency industry’s development regulations thanks to the introduction of Know Your Customer (KYC) features. In addition, Know Your Customer procedures may significantly cut down on criminal activities including fraud, money laundering, and terrorist financing.
Additionally, KuCoin has made it possible for users with KYC-verified accounts to take advantage of a larger daily withdrawal limit. They will also be allowed to use KuCoin’s Fiat-Crypto service.
In Conclusion
In a nutshell, KuCoin is an outstanding cryptocurrency exchange that is suitable for cryptocurrency investors. It is able to boast minimal trading fees, reasonably good liquidity, a large number of users, a wide variety of assets and services that are supported, and a high number of users.
KuCoin offers one of the best trading services available, complete with cutting-edge trading tools and individualized charts that are simple to use and understand, making them suitable for both experienced traders and novices. KuCoin also has a number of fascinating features, such as margin trading and a selection of tools geared toward sophisticated users.
Kucoin Review Overall
KuCoin is a top-tier cryptocurrency exchange, ideal for seasoned traders due to its low fees, advanced trading features, and support for over 600 cryptocurrencies. It offers a user-friendly platform and the ability to earn interest on crypto holdings. However, it is not licensed in the U.S. and has limited educational resources. Overall, KuCoin is an excellent choice for international users seeking diverse trading options and low fees.
Pros
- Low trading fees
- Supports over 600 cryptocurrencies
- Ability to earn interest on crypto
Cons
- Not licensed in the U.S.
- Limited educational resources
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Trading and Account Fees:
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Supported Assets and Platform Features:
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