Last update: Apr 15, 2022

Kucoin Review

Kucoin, a newer cryptocurrency trading platform, offers many of the features crypto enthusiasts seek in today’s market. While many crypto traders look for established and experienced players in the industry, it’s essential not to overlook newer platforms if they seem to have what it takes.

  • Kucoin


    1. Operating Since 2017
    2. Currencies Supported 200+ cryptocurrencies
    3. Fees 0.1% for both maker and taker
    4. Deposit Methods PayPal and debit cards
    5. Fiat Currencies No
    6. Verification Methods email, 2FA
    7. Margin Trading Yes
    8. Futures Trading Yes

Although Kucoin is newer than some of its competitors, they’re far from inexperienced. With over eight million active users and 800 million transactions processed, Kucoin recently gained enough traction to rise to number eight among the world’s top crypto exchanges.

Kucoin also offers a mobile app, available on iPhone and Android, making it easy to check in on your portfolio on the go. The app provides full-trading functionality and comes with most of the desktop app features, granting impressive flexibility.

With low trading fees and an intuitive interface, Kucoin may be precisely what you’re looking for in a cryptocurrency trading platform. Read on to learn more about Kucoin’s features and services in our full Kucoin review.

About the Platform

Kucoin serves as a dedicated cryptocurrency exchange, dealing only with crypto-to-crypto transactions. The platform provides a place for customers to exchange digital currency and assets with ease. However, being a crypto-only exchange means that the service does not currently offer fiat currency, a factor customers should consider.

Although the Kucoin team undertook development on the project in 2011, the platform did not launch until 2017, making it a relatively new option on the market. However, the project’s goal aimed to always provide a safe and intuitive opportunity for crypto traders. The system that Kucoin developed accomplishes that goal beautifully.

Operating worldwide and initially founded in Hong Kong, Kucoin currently has offices in Japan, Vietnam, Spain, and other countries. The company’s headquarters are currently located in Singapore, and, as a young company, Kucoin continues to grow rapidly.

Currencies Supported

Kucoin always strives to be as versatile as possible for its customers. Supporting over 200 different cryptocurrencies, Kucoin is very likely to support your favorite coin or trading pair. The variety of the trading pairs available on Kucoin is a genuine strength of the platform, with over 400 unique pairs available currently. In addition, Kucoin regularly updates its options to ensure its users are always ready to jump on the latest market trends.

As expected, Kucoin supports Bitcoin, Bitcoin Cash, Ethereum, and Lite-Coin. While most platforms support these types of coins, Kucoin also offers the advantage of supporting many more recently minted digital assets, making it an excellent option for traders who like to adopt early. Variety highlights a true strength of the platform Kucoin has built. Users will be impressed with the type of available options.

The biggest downside of Kucoin’s current service stems from the lack of fiat trading. While some of the more established players in the crypto world support this, Kucoin has not yet rolled out support for these types of transactions. However, we don’t think this should turn customers away, as Kucoin is still young, and support may be on the way.

Kucoin’s Native Currency

Kucoin Shares, also known as KCS, refers to the cryptocurrency developed by Kucoin that their team used to fund the creation of the platform. Holding Kucoin Shares today comes with an array of benefits, including trading discounts, lower withdrawal fees, and dividend returns. KCS holders also receive access to an increased variety of trading pairs, so holding KCS makes an excellent option for advanced users of Kucoin’s platform.

An easy way to earn Kucoin Shares in 2022 includes participating in Kucoin’s referral program, which allows you to earn KCS each time someone you refer to the platform joins and makes a purchase. If your friends are as interested in crypto as you, they’ll love Kucoin, and you’ll reap the benefits.

Accepted Payment Methods

Although Kucoin initially only accepted payments through cryptocurrency, they have recently made several changes to their service to make it easier to make purchases. Kucoin’s current system supports charges through both debit cards and PayPal, ensuring that most purchasing of crypto on Kucoin will be accessible to most customers.

This feature provides a significant advantage, especially for new Kucoin users, as sending crypto can be irritating without an existing wallet or platform. The system’s versatility also makes it easy to make deposits when away from your usual setup or if you experience a problem with one of your typical payment methods.

Different payment methods can bring different fee percentages, though, so be sure to choose the payment method that reduces the fees as much as possible. Another thing to consider is that PayPal and other e-transfer services work much faster than traditional bank transfers. Consider using those when you need to move money quickly.

Limits and Affordability

The most impressive aspect of Kucoin’s crypto exchange is that it can offer top-level service and quality without extra fees. Kucoin ranks as one of the most affordable options in the industry regarding the costs and discounts offered.

Trading Fees

The base trading fee on Kucoin is 0.1% for both the maker and taker. To put this in perspective, you will find this same rate on some of the leading budget options in the crypto world. Frequent or high-volume trading will push this rate down even further, meaning Kucoin rewards its most crucial customers.

The fact that Kucoin can provide such a high quality of service and software while keeping costs this low is truly impressive. Using the Kucoin trading platform gives investors the chance to experience industry-leading performance and support without sacrificing returns. Many people find this type of win-win rare as a consumer, and it sets Kucoin apart from most of the similar services they compete with.

Limits

When you choose Kucoin, your withdrawal limit will be directly based on the type of account you hold with the platform. Although Kucoin offers different levels of accounts, you cannot just choose the type you’d like when you sign up. Instead, the amount you can withdraw at once will depend on the level of verification you provide to the service.

Before providing any verification, you can withdraw up to two bitcoin per day right after you create your account. This limit is relatively high for an unverified account and may be enough to allow a low-volume trader to run their operation without any verification at all.

Verifying your account will require providing Kucoin with a form of identification and proof of residence. While this step is not required to use the service, they highly recommended it as it grants you increased security and a higher withdrawal limit. Kucoin takes the security of your data seriously and can be trusted with these documents.

Customer Service

Another benefit of choosing Kucoin lies in the access you gain to their team of dedicated and knowledgeable customer service representatives. Kucoin’s team is available to answer your questions and provide support 24 hours a day, seven days a week.

Dealing with issues with your crypto platform can be frustrating and can literally cost you money. When you choose Kucoin, you can reach out to their customer service team at any time via chat or email, meaning they’ll always be there when you need them. This type of assurance can give you peace of mind as a user and make a huge difference when an issue arises.

Kucoin offers lower than average customer service response times in the crypto field and provides a wealth of information on their website. If you have issues with the platform, your first move should always be to check the help center on Kucoin’s website, where they have solutions to most problems customers commonly face.

Safety and Security

Kucoin is very dedicated to data security and employs a multi-faceted approach to ensure their customers’ data remains private. With multiple specialized risk control departments and contracts with leading crypto-security providers, Kucoin has a surprisingly developed security plan despite being relatively new in the market.

Striving for bank-level security, Kucoin also uses redundant storage to ensure they protect their customer’s data even under the worst possible circumstances. This dedication has paid off, as Kucoin has never fallen victim to a hack or data breach.

On the user end, Kucoin employs state-of-the-art security measures. Their system offers the full range of security measures provided by competitors, such as two-factor authentication and email alerts. While you can decline most of these measures, a slight inconvenience is undoubtedly preferable to having someone gain access to your account and data.

FAQs

Is Kucoin a Regulated Platform?

Because Hong Kong has no current legislation governing crypto exchanges, Kucoin is currently not regulated by any governmental bodies. While this may seem concerning to some customers, it’s vital to consider Kucoin’s record of success in the industry and history of standing by its customers with quality support. These factors show that consumers can trust Kucoin even without typical regulation.

How To Use Kucoin?

Kucoin is about as intuitive as it gets when it comes to crypto trading platforms. Once you create your account and add a payment method, you can transfer money into your account with Kucoin. Then, all you need to do is head to the markets tab, search for the cryptocurrency you want to purchase, and enter the amount you want.

On the trading screen, Kucoin offers its customers a variety of tools to help inform their decision. Users can choose from a variety of available statistics and displays, ensuring you always have the information you need to make the right choice.

Kucoin also makes your past orders easy to view and sort through, helping you keep track of exactly when you buy or sell crypto, even if you’re a high-volume trader. At this point in our Kucoin review, you have most of the information you need, so read the next section for some closing thoughts.

Final Thoughts

Ultimately, with a combination of unique strengths and extremely competitive fees, Kucoin stands out as one of the best available crypto trading platforms. An excellent option for experts and new traders alike, Kucoin should be a top option for anyone interested in the world of crypto.

Kucoin covers all the bases, so their service should be a good fit for all types of customers. The platform also supports an impressive variety of currencies, making it a great option for users trying to branch out from the most commonly used coins. Whether your priority is low fees, ease-of-use, or security, Kucoin excels in every meaningful category.

Despite being a relatively new option, Kucoin brings a valuable combination of advantages to their users, backed by industry-leading customer support. By reading this Kucoin review, we hope you learned a lot about what the trading platform offers. If you want a simple-to-use, constantly advancing trading platform, Kucoin may be the right choice for you.

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.