Table of Contents
- 1 Our Takeaways
- 2 An Overview Of KuCoin
- 3 KuCoin Pros & Cons
- 4 Top KuCoin Features You Should Know
- 5 Can KuCoin Be Trusted?
- 6 KuCoin Security Measures
- 7 Has KuCoin Been Hacked?
- 8 How Do KuCoin Fees Compare?
- 9 Who Can Use KuCoin?
- 10 How To Get Started With KuCoin
- 11 Ease Of Use
- 12 Customer Support
- 13 Mobile App
- 14 KuCoin Alternatives
- 15 Frequently Asked Questions
- 16 Our KuCoin Verdict
Getting into cryptocurrencies seems to be on everyone’s agenda these days. With so many options, choosing a decent exchange can be a hard task. If you are an experienced crypto investor or trader then you are more likely going to want a well-known platform, and KuCoin definitely fits into that category.
In this review, we will examine why KuCoin has become one of the world’s most popular cryptocurrency exchanges. Is it the one-stop-shop crypto shop that it makes itself out to be? Is KuCoin the right choice for you? Is KuCoin able to compete against the best crypto exchanges in the world?
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Trading Fees: 0.1% (maker) and 0.1% (taker)
Available Cryptos: 593
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KuCoin is an exceptional option if you have been investing or trading cryptocurrencies for some time. The platform offers high liquidity, a suite of premium cryptocurrency services and features, and competitive trading fees. The exchange also boasts a massive user base of over 10 million and is available in 205 countries with exception of the United States.
Based on our review, KuCoin is best suited if you are not located in the United States and want access to top-of-the-line crypto trading features and services such as leveraged margin and futures trading, as well as a vast selection of digital currencies to satisfy altcoin trading activities. Despite being an advanced crypto exchange, the simplicity and functionality of the platform will ensure that you are not out of their depth if you’re relatively new to the crypto space.
|Name||KuCoin (Mek Global Limited)|
|Core Services||Spot and derivatives crypto trading|
|Fiat Currencies||48 including USD, AUD, JPY, SGD, CAD, GBP, and SEK.|
|Deposit Options||Crypto transfer, Visa and Mastercard bank cards|
|Deposit Fees||1.8% for Visa and Mastercard|
|Trading Fees||0.1% (maker) and 0.1% (taker) for spot trading|
|Leveraged Margin||Up to 100x|
|Mobile App||Yes (iOS and Android)|
An Overview Of KuCoin
KuCoin is a popular cryptocurrency exchange platform that provides investors and traders of all levels of experience with an ecosystem of innovative services and features. The Singaporean-based exchange was founded in 2017 with the aim of providing blockchain and crypto users with a complete trading experience.
KuCoin is truly global and provides its services to traders in 205 countries and in 19 languages including English, Spanish, Dutch, German, and Italian. Unfortunately, KuCoin is not licensed to provide its services to you if you are located in the United States. The platform boasts a staggering customer base of over 10 million, where it claims that 1 in 4 crypto holders worldwide is with KuCoin. According to CoinMarketCap, KuCoin is currently ranked as #5 in the world for trading volume with a daily trading volume of nearly $4 billion.
KuCoin Pros & Cons
- Extensive range of digital currencies to trade (593)
- Competitive spot (0.1%/0.1%) and futures (0.02%/0.06%) maker/taker fees that can be discounted
- Easily and quickly purchase crypto using fiat currencies including 48 fiat currencies
- A suite of advanced crypto services and features Integrated with the powerful and feature-rich TradingView charting package
- Buy and sell crypto with zero trading fees on the active P2P marketplace
- Not available to US residents
- Beginners may be overwhelmed
- Limited ways to fund accounts and purchase crypto
Top KuCoin Features You Should Know
A Wide Range Of Digital Currencies
KuCoin allows you to buy, trade, and sell over 600 digital currencies, over 400 unique trading pairs, and more than 1,100 markets. KuCoin offers all the major cryptocurrencies that you know including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and Litecoin (LTC), as well as the more exotic coins. If you are an active altcoin trader then the sheer abundance of trading pairs and markets makes KuCoin a highly attractive platform.
Buy Crypto Fast
KuCoin provides two ways for you to quickly purchase a range of digital currencies using their local fiat currency. The first is the ‘Fast Trade’ function that allows you to use a Visa or Mastercard bank card to near-instantly buy BTC, ETH, or USDT. 48 fiat currencies are supported including USD, AUD, BRL, CHF, and CAD, and purchased crypto is near-instantly transferred directly into your wallet.
The second method is via a third-party platform such as Banxa and Simplex. This method provides you with a much wider range of cryptocurrencies to purchase than is offered by the Fast Trade function. Here, Visa, Mastercard, or ApplePay can be used to buy crypto including SHIB, MATIC, REVV, SUSHI, ONE, and many more.
KuCoin is one of the best crypto margin trading exchanges that offers a number of cryptocurrency derivatives products that can be traded on the exchange, including:
- Leveraged tokens – tokens that you can buy and sell with up to 10x leverage using an isolated or cross-margin mode.
- Futures trading – otherwise known as contracts trading, futures trading allows you to buy or sell cryptocurrencies at a predetermined price at a specific time in the future.
Leveraged Margin Trading
The cross-margin mode means that all margin assets, regardless of the currency) will be used as principal to avoid forced liquidation. The advantage of this is that the risk of liquidation is very low provided that the debt ratio is moderate.
KuCoin offers you the ability to buy and sell standardized futures contracts and profit by going long or short. Profits are amplified by applying leverage of up to 100x. KuCoin divides its futures trading into Perpetual contracts and Delivery contracts. Perpetual contracts are settled every 8-hours whereas Delivery contracts are settled at a specific date in the future.
KuCoin offers over 80 margin digital assets that can be paired with BTC, ETH, or USDT. Users can trade futures pairs with up to 100x leveraged margin. This means that you can go long or short with Bitcoin, Ethereum, or Tether, and amplify your profits by taking advantage of small market price movements.
The main features of KuCoin Futures trading comprise:
- Risk hedging – Hedge against downside risks of price volatility in the spot trading market for selling/short contracts.
- Two-way profit – Earn a profit from both uptrends and downtrends when buying or selling a futures contract.
- High leverage – Earn greater profits than what your capital would otherwise provide with a margin of up to 100x.
KuCoin Trading Bot
If you’re familiar with trading bots then you should be aware of the major benefits they bring to the table. Of course, this means the continuous monitoring of the crypto market 24/7 and automatic execution of trades if the order conditions are met. Trading bots are typically free to use, save time analyzing price actions of digital assets, and reduce trading risks.
Whether you have an iOS or Android mobile device, you can use the KuCoin trading bot for free. Nearly 6 million trading bots have been created worldwide with the Spot Grid bot the most popular trading strategy with over 4.8 million bots created. Aside from the Spot Grid, KuCoin provides four other trading bot strategies including Futures Grid, Smart Rebalance, DCA, and Infinity Grid.
- Spot Grid – a trading strategy that positions buy and sell orders according to market fluctuations. Essentially, the bot will place orders when the buy price decreases and sells when the price increases.
- Futures Grid – the bot will divide an investment into several grids and keep buying low and selling high within the selected price range.
- Smart Rebalance – automatically buys low and sells high whilst maintaining portfolio allocations for each digital asset.
- Dollar-Cost-Averaging (DCA) – small amounts of funds are automatically invested into a cryptocurrency over a period of time. This helps to protect you against market volatility and reduces risk.
- Infinity Grid – the derivative version of the Spot Grid where it will continue to buy low and sell high in percentages with no upper limit.
Zero Fee Peer-To-Peer Crypto Trading
If you want to trade crypto directly with other users then the KuCoin Peer-To-Peer (P2P) marketplace might be for you. Buying and selling crypto through a P2P marketplace is often more convenient, however, carries its own set of risks.
KuCoin features a P2P marketplace where you can make fiat-to-crypto transactions directly with another crypto trader. KuCoin currently supports the buying and selling of BTC, ETH, USDT, KCS, and USDC. Fiat-to-crypto conversions can be performed with 24 fiat currencies including USD, AUD, RUB, THB, JPY, CAD, and EUR. The KuCoin P2P marketplace offers users several benefits including no transaction fees, fast settlement, a variety of local payment methods, and trustworthy merchants.
KuCoin enforces a strict selection process if you want to become a P2P sell. KuCoin selects professional merchants who offer favorable prices and are quick to respond to other users. The integrity of the P2P trading experience is maintained by KuCoin undertaking several programs to improve the P2P services. These include the Golden Merchant Program, Merchant Weekly Ranking, and Merchant Qualification Tests that are conducted on a regular basis.
For fiat-to-crypto transactions, the merchant can be notified following the successful transfer of funds. The purchased crypto will be released by the merchant and into the user’s KuCoin wallet. The P2P marketplace is available on the iOS and Android mobile apps where buyers and merchants can communicate with each other via IM chat.
Lend Or Borrow Crypto
KuCoin allows you to lend your cryptocurrencies to other users for leveraged margin trading and to earn interest. In terms of the variety of crypto that can be lent to earn interest, KuCoin supports 144 digital assets including BTC, MATIC, ADA, KAVA, RUNE, DOGE, and many more. The list of crypto that can be lent is amongst the best in the market and will suit you if you possess a diverse portfolio.
Verified users can lend their crypto to earn interest in a few easy steps:
- Search and select the digital asset they wish to lend.
- Input the amount to lend.
- Choose the term of lending, i.e. 7, 14, or 28 days.
- Input the interest rate to charge.
Based on the interest rate and term, the calculator will present the interest-earning on the principal lent. Interest is calculated daily and paid out once the borrower closes the loan.
Borrowing crypto from another KuCoin user follows a similar process. Borrowers will need to input the maximum interest rate they are willing to pay as well as the term of the borrowing period. KuCoin conveniently displays the debt ratio and an indication of the risk associated with the borrowing contract. Borrows will receive a liquidation alert once the debt ratio exceeds 95%. It is at this point that all positions will be liquidated.
Stake Or Save To Earn Rewards
KuCoin offers its customers a diverse range of crypto products where users can steadily earn profits or rewards in conjunction with professional asset management. Two of those products are savings and staking:
- Savings – earn rewards in the form of compounding interest by transferring to the corresponding position currency. Users can transfer 25 cryptocurrencies including but not limited to LUNA, ATOM, TRX, HYDRA, and USDT to earn rewards of up to 8.6% Annual Percentage Yield (APY).
- Staking – users can obtain both staking rewards and POL credits by staking crypto for a period of time. Users can stake 18 coins including DOT, ATOM, ADA, MATIC, KSM, LINK, and many more to earn Annual Percentage Rewards (APR) of up to 52%. Staking terms vary for each coin and range between 1 day and 28 days.
KuCoin is one of the few centralized cryptocurrency exchanges that allow Ethereum 2.0 staking on its platform for users to earn ETH2 rewards. Customers on the exchange can earn ETH2 staking rewards and POL mining rewards by holding ETH2 in their accounts.
In 2017, the exchange launched its native coin, KuCoin Shares (KCS). There is a maximum of 200,000,000 KCS in circulating supply, however, the majority was given to its founders and investors. Like the native coins and tokens of other major crypto exchanges, users who hold KCS may be entitled to receive benefits including trading discounts, lower trading fees, and increased affiliate commissions.
Earn Up To 45% Affiliate Commissions
The KuCoin affiliate program is one of the best in the crypto industry. Users who complete account verification will be able to share a unique affiliate code with friends and family. KuCoin affiliates will earn a 40% return on the trading fees incurred by the invitee who uses the link and trades with KuCoin. If the affiliate level reaches Level 2, then commissions will increase to a very attractive 45%.
Can KuCoin Be Trusted?
KuCoin is a legitimate cryptocurrency exchange platform that is headquartered in Singapore and supported by regional offices in China, the Philippines, and Thailand. Since its founding in 2017, the exchange has rapidly grown in popularity and now provides its services to 205 countries around the world. KuCoin adheres to its global Anti-Money Laundering/Counter the Financing of Terrorism (AML/CTF) policy which sets out strict requirements to mitigate the risk of the platform being used to facilitate financial crime.
KuCoin Security Measures
KuCoin employs a range of security measures to protect the integrity of its digital infrastructure, data usage, and customer assets and funds. The exchange platform possesses bank-like encryption and security features as well as risk control procedures and policies to mitigate against internal human error.
In April 2020, KuCoin announced a strategic partnership with OnChain Custodian, a Singaporean-based cryptocurrency asset custody platform. The partnership provides KuCoin customers with the utmost confidence that their funds and assets would be protected at the highest level. All funds held in OnChain’s custody are also backed by Lockton, the world’s largest private insurance brokerage.
At the account level, you will benefit from additional security features that can be set up to maximize security. These include Two-Factor Authentication (2FA), phone and email verifications, security questions, and restricted IP logins.
Has KuCoin Been Hacked?
In September 2020, KuCoin was hacked which resulted in the loss of approximately $281 million in digital currencies and assets held by the exchange. The cause was attributed to a leak of private keys for the platform’s hot wallet storage system where digital assets including BTC, TRON, ETH, XRP, and XLM were withdrawn by unauthorized parties. KuCoin CEO, Johnny Lyu, indicated that 84% of the stolen digital assets were recovered with the remaining amount covered by Kucoin’s insurance fund.
How Do KuCoin Fees Compare?
Deposit & Withdrawal Fees
KuCoin charges a 1.8% fee to deposit fiat currencies using a Visa or Mastercard. Considering that most major cryptocurrency exchange platforms do not charge fees to deposit fiat currencies to fund account wallets, the fee is somewhat of an annoyance and might be a barrier to entry. For example, if USD$1,000 is deposited then an $18 fee will be incurred.
KuCoin does not charge withdrawal fees. However, standard blockchain network fees will be incurred if users withdraw digital currencies to an external wallet or another cryptocurrency exchange or platform.
Spot Trading Fees
Spot trading fees follow a tiered maker/taker structure which starts at 0.1% and 0.1%. Compared to other major crypto exchanges, KuCoin spot trading fees are relatively competitive however there are cheaper trading options out there including FTX (0.02% and 0.07%) and Huobi Global (0.04% and 0.05%). Users who satisfy one of the criteria shown in the table below will be eligible for discounts on their trading fees.
|LEVEL||MIN. KCS HOLDINGS 30 DAYS||BTC SPOT TRADING VOLUME 30 DAYS||BTC FUTURES TRADING VOLUME 30 DAYS||MAKER AND TAKER|
|0||0||<50||<100||0.1% and 0.1%|
|1||1,000||>50||>100||0.09% and 0.1%|
|2||10,000||>200||>400||0.07% and 0.09%|
|3||20,000||>500||>1,000||0.05% and 0.08%|
|4||30,000||>1,000||>2,000||0.03% and 0.07%|
|5||40,000||>2,000||>3,000||0% and 0.07%|
|12||150,000||>80,000||>160,000||-0.005% and 0.025%|
Futures Trading Fees
KuCoin’s futures trading fees are also based on a tiered maker/taker structure. Futures maker and taker fees start at 0.02% and 0.06%, respectively. KuCoin’s futures trading fees are competitive compared to other global cryptocurrency exchanges that offer derivatives trading.
|LEVEL||MIN. KCS HOLDINGS 30 DAYS||BTC SPOT TRADING VOLUME 30 DAYS||BTC FUTURES TRADING VOLUME 30 DAYS||MAKER AND TAKER|
|0||0||<50||<100||0.02% and 0.06%|
|1||1,000||>50||>100||0.015% and 0.06%|
|2||10,000||>200||>400||0.01% and 0.06%|
|3||20,000||>500||>1,000||0.01% and 0.05%|
|4||30,000||>1,000||>2,000||0.01% and 0.05%|
|5||40,000||>2,000||>3,000||0% and 0.04%|
|12||150,000||>80,000||>160,000||-0.015% and 0.03%|
Who Can Use KuCoin?
KuCoin provides its products and services to investors and traders located in 205 countries around the world including Japan, Canada, the UK, China, Australia, France, Thailand, and many more. Unfortunately, United States residents are not permitted to use the platform and will need to seek an alternative global exchange such as Binance, Gemini, FTX.US, eToro, or Coinbase.
How To Get Started With KuCoin
Account Creation & Verification
Creating a KuCoin account is a simple and straightforward process that can be completed within 3 minutes. Since KuCoin adheres to Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, users will need to verify their identities. KuCoin accounts follow a tiered-based structure. Completing KYC processes will provide access to features including increased withdrawal limits of up to 200 BTC, leverage of up to 100x, and a daily fiat-to-crypto limit of USD$70,000.
KuCoin supported methods to fund an account wallet are limited to transfers of cryptocurrencies from an external wallet or exchange, and fiat deposits using Visa or Mastercard bank cards. For a major crypto exchange, the deposit method limitations are surprising and extra flexibility and support should be given to KuCoin customers.
KuCoin supports the deposit of a vast multiple of digital assets including Bitcoin (BTC), stable coins (e.g. USDT and USDC), and altcoins (e.g. Ethereum and Cardano). Upon selecting the crypto to deposit, a KuCoin wallet address will be presented. Users should note that each crypto asset has a unique wallet address and the speed of transfer will be dependent on the business of the network.
Users who want to fund their account with their local fiat currency may do so using a bank card (Visa or Mastercard). KuCoin supports the depositing of 27 fiat currencies including USD, AUD, JPY, SGD, CAD, GBP, and THB. A hefty 1.8% fee will be incurred for deposits made using this method.
Ease Of Use
If you know how to analyze the price action of digital currencies then the KuCoin trading interface is for you. The TradingView charting panel is quite large and takes center stage where it can be fully utilized. the order book is relatively compact on the right-hand side, with the buying and selling panel even more compact in the bottom right corner. The TradingView package provides you with all the advanced indicators, drawing tools, and other features.
KuCoin provides users with a premium Help Centre containing a wealth of informative guides and articles. The Help Centre neatly organizes articles into several categories including beginner guides, finance, deposits and withdraws, the various trading types (spot, margin, futures, trading bot), as well as other key features such as KuCoin Earn. Users experiencing technical issues or who want to know more about KuCoin services will have no trouble finding the article they want. One thing we did notice is that the search function is incredibly useful. In fact, the search function always pointed us in the right direction by listing the highly relevant articles.
Users who don’t find the information they are looking for or want to discuss an issue with discretion can contact the KuCoin customer support team via a ticket system or the live chatbot. Direct phone assistance is not available. The avenues to seek assistance with KuCoin are typical of a large global crypto exchange and we found no point of difference.
KuCoin customers can trade and manage their crypto portfolios on the go with the KuCoin mobile app for iOS and Android. The mobile app is slick, highly functional, and responsive. Whilst the dashboard is not fully customizable, users can add shortcuts to the crypto features that they use daily. The app offers users all the crypto services and features that are available on the desktop:
- Easy account funding and withdrawal support.
- View real-time market prices of crypto.
- Buy and sell crypto with spot, leveraged margin, futures, and P2P trading.
- Access to KuCoin Earn, the Trading Bot, Futures Brawl, Spot Grid, and crypto lending.
- Access to customer support via the Help Centre
KuCoin is a top-of-the-shelf crypto derivatives trading platform that is available to investors and traders worldwide, with exception of the United States. Traders, including those located in the United States, who are considering alternatives to KuCoin, may opt for one of the following reputable exchanges.
- FTX – FTX and FTX.US is an advanced cryptocurrency platform that offers similar services and features to KuCoin including spot, futures, and leveraged tokens where up to 101x leveraged can be achieved. The platform offers cutting-edge features including advanced charting, tools, and indicators with TradingView.
- Binance – Binance is one of the most well-known crypto exchange platforms in the world that boasts an extensive list of supported digital currencies and cutting-edge features including margin and futures trading.
- Crypto.com – Crypto.com is a global crypto exchange that is well-known for its ecosystem of innovative products and services that make it a one-stop shop for crypto users. The Crypto.com mobile app has been downloaded by over 100 million users and allows customers to buy, sell crypto, stake, earn interest, and shop using their digital currencies.
- Bybit – Bybit is a leading cryptocurrency derivatives exchange with an emphasis on leveraged margin trading. The platform has attracted over 3 million users and offers an advanced trading interface full of high-level features.
Frequently Asked Questions
Is KuCoin Legit?
KuCoin is a legitimate and trustworthy crypto exchange platform that has provided premium services to over 10 million users in 205 countries around the world. The Singaporean-based exchange is supported by regional offices located in the Philippines, China, and Thailand. KuCoin has a global Anti-Money Laundering/Counter the Financing of Terrorism (AML/CTF) policy and adheres to strict KYC regulations in each of its operating jurisdictions.
Is KuCoin Available To US Traders?
According to the KuCoin User Agreement, US residents are not allowed to use the services of Bitfinex. Individuals from the United States are strictly prohibited from creating an account and will not be able to complete ID verification. Users will need to find a cryptocurrency exchange in the US that is licensed by FinCEN.
What Countries Can Use KuCoin?
KuCoin is available to use in 205 countries around the world including Australia, Canada, Singapore, the United Kingdom, Japan, and India. Investors and traders located in the USA are not able to use KuCoin due to regulatory reasons.
You can read our review of the best crypto exchanges in this article.
Our KuCoin Verdict
KuCoin is a serious crypto exchange platform that is trusted by over 10 million users worldwide. The platform offers a suite of advanced and innovative crypto products and services that rival other premium exchanges in the space. Beginners are not left out as the design of the platform strikes a nice balance between simplicity and easy navigation. If you are a non-US investor or trader who wants to access state-of-the-art crypto trading features and experience then KuCoin may be for you.