Last update: Jun 28, 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 500+ 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 (iOS / Apple) 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, user-friendly interface, Kucoin may be precisely what you’re looking for in a cryptocurrency trading platform.

KuCoin has a wide array of extra features that can’t be found on more basic cryptocurrenc exchanges. Advanced crypto traders and investors will enjoy the platform’s futures trading, P2P marketplace, spot trading, margin trading, and there are even ways to earn interest on the digital assets you bought via KuCoin KCS bonus and Crypto lending. You can earn up to 12% annualized interest rate from your holdings!

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. It claims to be the ‘people’s exchange’ and is based in the Seychelles.

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 such as USD and EUR, 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.

Cryptocurrencies Supported

Kucoin always strives to be as versatile as possible for its customers. Supporting over 500 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 (BTC), altcoins such as Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), EOS, Cardano (ADA), Litecoin (LTC), etc. as well as stable coins like Tether (USDT). 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. You can check CoinMarketCap for more info about the cryptocurrencies that KuCoin supports.

Kucoin Token - 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 traders 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 credit cards, 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 deposit methods.

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

Overall, you can buy crypto with top fiat currencies including Australian Dollars (AUD), Canadian Dollars (CAD), GBP (Pound Sterling), Euro (EUR), US Dollars (USD), and many more. KuCoin allows you to buy crypto with fiat using its P2P fiat trade, Visa, MasterCard, debit card or credit card via PayMIR, Banxa, or Simplex, Apple Pay, PayID, or its Fast Buy service, which facilitates CNY, VND, and IDR purchases of Tether (USDT) or Bitcoin (BTC).

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

KuCoin’s trading charges are competitive with industry leader Binance.US. Investors can also receive a discount based upon their average monthly holdings of KuCoin’s native token, KCS or 30-day trading volumes. If they use KCS, they can reduce fees by 20%.

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.

Makers usually get a lower fee in a maker-taker fee arrangement because they offer liquidity to the crypto market and provide two sides to trades. On the other hand, takers are those who are buying at market rates.

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 KuCoin account and may be enough to allow a low-volume trader to run their operation without any verification at all.

KYC verification process require providing Kucoin with a form of identification, valid phone number, 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.

KuCoin Earn

KuCoin Earn pays interest on your cryptocurrency in two ways. You can either stake your coins through Pool-X (a KuCoin-backed business) or you can borrow your crypto to get the interest.

Staking works in a similar way to earning stock dividends. Certain cryptocurrencies use staked coin to validate the network and protect it. If you agree to keep your coins tethered for a certain amount of time, you can earn rewards.

You’ll get more interest if you lend your crypto than you would with a traditional savings card. However, it can vary depending on the coin and demand. KuCoin claims that you can earn anywhere from 8% to 12 percent on average. This money is used to finance KuCoin’s margin trading. According to KuCoin, lenders will be paid in full regardless of whether the collateral is provided by the borrower or if they are insured with KuCoin margin insurance funds. However, the protections offered by KuCoin margin insurance funds won’t be as strong as those provided by a regular bank. You should consider the extra risk.

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 your 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 (kucoin.com). 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 provides KYC authentication and industry-standard security features. However, the exchange was hacked in 2020. Over $280 million in crypto was stolen from hot wallets by hackers. Although the assets were protected by an insurance plan, a security breach of this scale is still alarming.

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 their relativeness newness 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, trading password 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.

PROS

  • Earn interest on crypto assets: KuCoin members can earn interest by lending or staking crypto assets and charging interest. You can build a bigger portfolio by earning rewards for your crypto.
  • KuCoin has over 600 cryptocurrencies.
  • Strong user base
  • Low trading fees: KuCoin charges relatively low fees compared to other major exchanges. KuCoin users can expect to pay between 0.125% and 0.10 per trade.
  • KuCoin provides a KuCoin wallet to its users. Before using the trading platform, users must deposit funds into a KuCoin account.
  • The exchange offers four order types: market stop-loss order or stop market order, stop limit order, market order, and limit order
  • Comes with price chart with advanced charting tools for technical analysis (TA) by TradingView

CONS

  • The KuCoin exchange is not licensed in the U.S.

Comparison of KuCoin and Other Cryptocurrency Platforms

KuCoin has a wide selection of cryptocurrency and charges relatively low fees when compared to other crypto-exchanges. For more advanced users and experienced traders, KuCoin supports margin trading, futures trading, P2P trading, and they even recently introduced a trading bot to simplify the trading process.. There are also some drawbacks. KuCoin is not licensed in the U.S., and was the subject of a major attack. Here’s how KuCoin compares with Coinbase, a top crypto exchange.

KuCoin vs. Coinbase

KuCoin and Coinbase are among the most popular cryptocurrency exchanges worldwide by trading volume.

There are however some key differences between these platforms.

  • While Coinbase users have the option to get phone support, KuCoin does not offer this service.
  • KuCoin has lower trading fees than Coinbase.
  • KuCoin supports 600+ cryptocurrencies while Coinbase only supports 150+.
  • KuCoin isn’t licensed in the United States. Coinbase is licensed in America.

Coinbase, despite the higher trading fees, is probably the best option for U.S.-based users. KuCoin’s lower fees, and wider range of crypto may be appreciated by those who are not based in the United States.

FAQs

Does KuCoin offers Margin Trading?

Yes. Margin trading and leveraged coins options are available. This gives you the opportunity to increase your returns by borrowing.

What Is KuChain?

KuChain is an upcoming native blockchain developed by the KuCoin community.

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, 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 crypto or sell crypto, and trade cryptocurrencies 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.

KuCoin Cryptocurrency Exchange Review for Australia

Have you already tried Australian cryptocurrency exchanges such as Swyftx, Digital Surge, and Coinspot but still not satisfied for some reason? Well, why don’t you give KuCoin a shot?

KuCoin seems like a great option for experienced cryptocurrency traders. KuCoin offers hundreds of tokens and the ability to trade futures products. It also allows you to use margin. KuCoin is a popular choice for a cryptocurrency exchange because of its low fees.

However, there are some problems that make it less-than ideal for U.S. crypto investors. These issues are especially relevant to beginners. KuCoin doesn’t have a license to operate in the United States. This makes it unnecessarily complicated for U.S. crypto investors. KuCoin has historically not allowed U.S. crypto investors to purchase it with U.S. currency. However, the exchange recently added a feature that allows them to do so, though there are some hurdles to overcome.

KuCoin was launched in 2017 and claims it is the “people’s currency”. It is not subject to U.S. regulations.

KuCoin uses a tiered system that employs a maker-taker model to spot trade and futures trading. Spot trading is not “buying” cryptocurrency; rather, you trade something you already own for another coin. You can usually choose between a “limit” and “market” order. A limit order allows you to trade cryptocurrency when it reaches a certain price. Market orders are executed at the current price. Futures trading allows you to buy or sell assets with a predetermined price and date.

KuCoin offers an advanced trading platform that you can use to execute trades. Classic Grid allows you to buy high and sell low, DCA (or dollar-cost average), where you invest in small amounts over a long period of time, and Futures Grid where you can leverage your holdings and go short or long if the price is expected to drop. Smart Rebalance automatically rebalances your holdings so that you maintain your portfolio percentages.

KuCoin uses industry-standard security protocols for protecting accounts. You can also set-up two-factor authentication. KuCoin cannot be operated in the United States. You will need to apply for a license to use U.S. Dollars. Cash deposits are not protected by FDIC-insured accounts. This is similar to what you get with Coinbase.

KuCoin is the best choice if you are a skilled cryptocurrency trader and want features that you cannot get on exchanges like Coinbase or Gemini. This includes access to hundreds altcoins not available on other exchanges.

We believe that more mainstream platforms such as Coinbase, Gemini or eToro, especially for traders based in the U.S., are better options.

KuCoin is a great choice for advanced crypto investors who want to earn more tokens by lending their crypto to others. You can also trade cryptocurrency futures or leveraged tokens with KuCoin. The exchange isn’t for beginners. They need to learn the interface which isn’t intuitive and aren’t crypto experts.

Take a look at our best crypto exchanges to buy Bitcoin in Australia if you’re looking for other Australian crypto exchange options.

KuCoin Cryptocurrency Exchange Review for Canada

KuCoin may seem like the ideal platform for active and experienced cryptocurrency traders. You can trade futures products, and you can also use margin. KuCoin, with its relatively low fees and access to hundreds of tokens, can be a great choice for cryptocurrency exchange.

There are however some issues that make it less than ideal for U.S. cryptocurrency investors, especially beginners. KuCoin is not licensed to operate within the United States. This unnecessarily complicates things for U.S. cryptocurrency investors. KuCoin is not licensed to operate in the United States. It has allowed U.S.-based investors to buy crypto with U.S. currencies, but it recently introduced a feature that does allow this — although there are hurdles to clear.

KuCoin was founded in 2017 and claims that it is the “people’s exchange”.

KuCoin’s tiered system uses a maker taker model for spot and futures trading. You’re not actually buying a cryptocurrency with spot trading. Instead, you trade an existing coin for another. You have the option to choose between a limit or market order. Limit orders allow you to trade when cryptocurrency reaches a particular price. A market order is executed instantly at the current rate. With futures trading you can buy or sell an asset at a predetermined time and price.

KuCoin has a trading bot you can set up to execute your trades. Classic Grid is where you sell high and buy cheap; DCA or dollar-cost accumulation, where you make small investments over time; Futures Grid, which allows you leverage and go long or short depending on whether you think a coin will go down; Smart Rebalance, which helps you maintain your portfolio percentages by rebalancing your holdings.

KuCoin’s exchange uses industry-standard security protocols that protect accounts. Two-factor authentication can be set up. KuCoin does not have a U.S. license, so you will have to go through an approval process to use U.S. dollar. Also, cash deposits won’t be protected through FDIC insured accounts like you would with Coinbase.

KuCoin is the best cryptocurrency exchange for advanced traders who want access to many altcoins unavailable on other exchanges.

For traders based in the United States, we believe more mainstream platforms, such as Coinbase and Gemini, are better choices.

KuCoin may be a good option for more experienced crypto investors looking to make additional tokens lending their crypto to other people. It also allows you to trade crypto futures and leveraged tokens. It is not recommended for beginners as it is difficult to use and is not intuitive.

On a side note, if you’ve already tried KuCoin and not satisfied with their features, then here’s a complete list of the best cryptocurrency exchanges to trade Bitcoin in Canada.

KuCoin Cryptocurrency Exchange Review for United Kingdom (UK)

KuCoin might seem ideal for those who are experienced in cryptocurrency trading. The exchange allows users to access hundreds of tokens as well as futures products and margin trading. KuCoin can be attractive as a cryptocurrency trading platform because it charges relatively low fees.

It is not ideal for all U.S. crypto-investors, particularly those at the beginner end. KuCoin’s inability to operate in the United States makes it more difficult for U.S. crypto-investors. KuCoin’s history has been against U.S. investors buying crypto with U.S. money. But, it recently introduced a feature that, although it requires some steps, allows for this.

KuCoin was established in 2017 by the people of the Seychelles. It’s not subject to U.S. regulations.

KuCoin employs a tiered model that uses a maker/taker model for futures and spot trading. Spot trading does not involve “buying” a cryptocurrency. Instead, it involves trading something you already own to another coin. You can either choose a “limit”, or “market”, order. You trade when the cryptocurrency reaches a specified price with a limit order. A market order can be executed immediately at the current prices. You can also trade futures to purchase or sell an asset on a specific date and price.

KuCoin also provides a trading robot that you can configure to execute your trades. Classic Grid can be used to sell high or buy low. DCA is a dollar-cost averaging where you invest regularly in small amounts. Futures Grid can be leveraged and you can go short if the coin’s price falls or long if it rises. Smart Rebalance can rebalance your holdings to keep your portfolio percentages.

KuCoin has industry-standard security protocols in place to protect your accounts. You can also setup two-factor authentication. KuCoin isn’t licensed to operate in the U.S. and so you’ll need to go through a process for using U.S. dollars. Additionally, there’s no protection for cash deposits via FDIC-insured account, as you have with Coinbase.

KuCoin’s best feature is if your goal is to trade cryptocurrency professionally and have access to features not offered by other exchanges such as, Kraken, Coinbase, or Gemini.

Particularly for U.S.-based traders we think that more mainstream platforms like Coinbase or Gemini are better options.

KuCoin could be a good choice for advanced crypto investors, who are looking to borrow crypto from others and also if they offer the possibility to trade cryptocurrency futures. This exchange is not for beginners. It requires that you get to know the interface and be comfortable with it.

If you don’t feel like using KuCoin because it is not FCA-regulated, then you might want to check our in-depth list of the best British platforms to buy cryptocurrencies.

Final Thoughts

Ultimately, with a combination of unique strengths and extremely competitive fees, Kucoin stands out as one of the best crypto exchanges 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.

 

 

Disclaimer: smartbillions.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post contains affiliate links to our partners, who may compensate us.

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.