KuCoin Exchange // Condensed Review – Pros and Cons

KuCoin (kucoin.com) is a very popular cryptocurrency exchange founded in 2017 by Michael Gan and Eric Don, both of whom were important members of giant companies Ant Financial and iBoxPay. In addition its regular exchange, today, KuCoin Exchange serves over 7 million users via a vast range of trading products, lending products, and other cryptocurrency-related services.

At any time, users can buy, sell, or trade over 200 types of coin and token. The platform also offers many currency pairs, with over 400 markets to choose from. Ku Coin website’s simple, efficient, and user-friendly UI is often preferred by serious traders. In addition, this exchange platform has its own native token called KCS (KuCoin Share).

In this KuCoin review, you will see why this platform is 1 of the top 5 crypto exchanges in the world.

Register a free account at KuCoin

KuCoin Restricted Countries/Regions

Because KuCoin Exchange is not based in the United States and is not subject to overly restrictive regulations, this platform can welcome users from almost all countries, including the UK, Canada, Australia, Singapore, India, Japan, and USA (however, users in some American states are only allowed to withdraw up to 2 BTC per day).

Currently, the website supports 19 languages including English, Portuguese, Chinese, Korean, French, Arabic, Spanish, Indonesian, and more.

Is KuCoin a safe cryptocurrency exchange?

KuCoin employs a comprehensive mix of security measures on both the system level and the operational level. On the system level, the exchange was constructed according to finance industry standards, with bank-level data encryption and security protocols. On the operational level, this exchange employs specialized risk control departments that enforce strict rules for data and monitoring.

Is KuCoin a safe cryptocurrency exchange?

On the user side, you can safeguard your account and maximize the security by completing the settings below:

  • Two-factor authentication (2FA)
  • Security questions
  • Anti-phishing safety phrase
  • Login safety phrase
  • Trading password
  • Phone verification
  • Email notifications
  • Restrict login IP

Using these settings, you can be sure that your funds are secure. Overall, most users agree that KuCoin is one of the safest and most reliable platforms in the industry.

Available Cryptocurrencies at KuCoin

All traders can buy and sell over 200 cryptocurrencies at KuCoin Exchange. Some popular coins/tokens are:

  • BTC, ETH, DOGE, VET, LUNA, LTC, XLM, BCH, USDT, SOL, DOT, ADA, ATOM, DASH, and more!

For your cryptocurrencies, KuCoin lets you download a private key file.

Available Cryptocurrencies at KuCoin

If you wish to trade at KuCoin, then based on those 200 currencies, you can trade in over 400 markets. Some examples of available markets are:

  • DOGE/USDT, ETH/BTC, DOGE/BTC, KCS/BTC, VET/BTC, EOS/ETH, LINK/USDT, and hundreds more!

KuCoin Services

KuCoin has a myriad of popular services related to cryptocurrencies. We shall explore them one by one below.

KuCoin Cryptocurrency Exchange

As one of the top cryptocurrency exchanges, KuCoin obviously supports a wide variety of crypto assets, with over 200 cryptocurrencies to choose from. Once you have purchased your preferred coins, you can hold them in the built-in wallet of your KuCoin account, or you can begin spot trading with those coins.

KuCoin Cryptocurrency Exchange

KuCoin Cryptocurrency Margin Trading

The Margin trading feature was launched in November 2019. Using this leverage, traders can borrow other users’ funds in order to potentially make more profit. On Kucoin’s margin trading platform, the available base currencies are USDT, BTC, KCS, ETH, and TRX. There are over 400 trade pairs in total.

KuCoin Cryptocurrency Margin Trading

You can use this trading service for both short and long positions. Remember that by using borrowed funds, you can drastically increase your profit per trade. Approximately 30 trade pairs allow you to use a leverage of up to 10x!

KuCoin Cryptocurrency Futures Trading

KuCoin also launched Futures trading in 2019. This service was previously called KuMEX, but is now separated into Futures Lite (for beginners) and Futures Pro (for experienced traders).

Both versions allow you to trade contracts with up to 100x leverage. Also, both versions allow users to trade over 50 USDT-margined contracts and over 4 USD-margined contracts.

KuCoin Cryptocurrency Futures Trading

KuCoin Cryptocurrency Lending

KuCoin Exchange’s cryptocurrency lending service allows you to lend your existing cryptocurrencies to other users and then get a return from interest rates. This daily interest rate ranges from 0% to 2%. You can select a lending duration of 7 days, 14 days, or 28 days. Through crypto lending, you have the potential to earn an annualized interest rate of 12% to 300%, depending on the cryptocurrency you choose.

There are over 60 cryptocurrencies available for lending, including USDT, BTC, ETH, DOT, LTC, XRP, ADA, ATOM, TRX, BCH, LINK, XTZ, DASH, ZEC, and XLM, just to name a few.

KuCoin Cryptocurrency Lending

KuCoin Wallet

Whether you are looking for a wallet to hold your coins or trade your coins, KuCoin Wallet is a highly functional crypto wallet. Once you create your free account at KuCoin, you automatically have access to this high-tech and secure digital currency wallet. And for trading purposes, you can easily transfer funds in and out of the wallet to fund your positions for Margin trading and Futures trading.

KuCoin Wallet

KuCoin Mobile App – iOS & Android

For users who prefer to trade on-the-go, KuCoin has a convenient mobile app available on both Android and iOS devices. For the mobile version, you will have most of the functionalities that exist on the desktop version. This is one of the best smartphone apps among other top crypto exchanges, so you will surely enjoy the ease-of-use and security of KuCoin iOS and Android apps.

KuCoin Mobile App - iOS & Android

KuCoin KYC Verification Requirements

Starting November 1, 2018, Ku Coin Exchange implemented KYC (know your customer) verification procedures to combat against money laundering operations.

However, account verification at KuCoin is not mandatory, especially if you are a regular volume trader. Here are the differences in the 3 levels of verification at KuCoin:

Unverified Account – Requires only email verification; lets you withdraw up to 2 BTC per 24 hours

Verified Personal Account – Requires submission of ID such as a driver’s license or passport, as well as your a utility bill that proves your country/region of residence; lets you withdraw up to 100 BTC per 24 hours

Verified Institutional Account – Requires organizational documents that are too complicated to explain here; lets you increase your withdrawal limit up to 500 BTC per 24 hours

Register a free account at KuCoin

KCS – KuCoin’s Native Cryptocurrency

As we mentioned earlier, the KuCoin Token (KCS) is the native cryptocurrency of this exchange. This token was issued in an ICO, and the raised funds where used to support the future development of the exchange.

KCS - KuCoin’s Native Cryptocurrency

KCS holders get to enjoy all of the following benefits:

  • Receive daily cryptocurrency dividends (generated from 50% of the collected trading fees)
  • Get a trading fee discount (minimum 1,000 KCS for 1% discount; maximum 150,000 KCS for 95% discount)
  • More trading pairs available, including BTC, ETH, LTC, USDT, XRP, NEO, EOS, CS, GO

The holders of KCS tokens earn a portion (50%) of all the profits made daily by KuCoin, through the process of staking. For example, let’s assume there are 100,000,000 KCS available. If you hold and then stake 10,000 KCS, and the Ku Coin platform collects 20 BTC in daily trading fees, then you would receive 0.001 BTC in dividends per day.

Here is the calculation: 20 BTC x 50% x (10,000 / 100,000,000) = 0.001

This 0.001 BTC will then get converted into KCS and be added back into your personal KCS holdings.

Register at KuCoin now to start receiving free KCS!

KuCoin Trading Fees and Limits

The KuCoin platform has 2 major types of trading fees and limits. Let’s go over them right now.

KuCoin Spot Trading Fees

With spot trading, every trade is charged a starting fixed fee of 0.1%, which is very reasonable compared to other exchanges. In addition, you can get other trading fee discounts based on your account’s level, which is based on your monthly trading volume. Here are the account levels and fees:

LV0: maker 0.1%, taker 0.1%
…
LV6: maker 0%, taker 0.06%
…
LV12: maker -0.005%, taker 0.025%

KuCoin Futures Trading Fees

Regarding KuCoin futures trading fees, once again, the fees depend on your monthly trading volume. Below is the detailed list of fees for each account level:

LV0: maker 0.02%, taker 0.06%
…
LV6: maker 0%, taker 0.038%
…
LV12: maker -0.015%, taker 0.03%

KuCoin Payment Methods and Fees

Convenience is key, and so Ku Coin Exchange provides convenient payment methods for all users. Let’s take a look at the deposit and withdrawal options.

Depositing at KuCoin and Fees

You can choose to fund your account with either fiat currency or cryptocurrency.

If you do not have any existing digital assets, then simply use Visa, Mastercard, SEPA, or Apple Pay to purchase your preferred crypto and then deposit it into your KuCoin account. About 25 types of cryptocurrencies are available for purchase, including BTC, DOGE, NANO, DOT, ETH, UNI, KCS, and more. Fees range from 1% to 3.5% for credit cards (KuCoin does not charge these fees because the payment provider charges these fees).

If you already possess cryptocurrencies from another wallet, then easily deposit them into your KuCoin account with a 0% fee. Your funds will appear within 15 minutes, and then you may begin enjoying KuCoin.

Withdrawing from KuCoin and Fees

KuCoin only charges a network fee of 0.0004 BTC whenever a user makes a withdrawal of Bitcoin. This fee is one of the lowest among exchanges, which is another reason why millions of people prefer to use KuCoin. Here are some examples of withdrawal fees for other cryptocurrencies:

Ethereum: 0.004 ETH
Litecoin: 0.001 LTC
EOS: 0.1 EOS
Ripple: 0.1 XRP
Tether (ERC20): 0.99 USDT

KuCoin Customer Service

The customer support at KuCoin is completely dedicated to answering your questions and solving your problems. Feel free to reach them via email, live chat, or through social media.

Email: support@kucoin.com
Live Chat: available 24/7

Conclusion – Should I use KuCoin?

KuCoin.com is a very ambitious and innovative platform in the crypto industry. Although it started only in 2017, it is now in the top 10 of all crypto exchanges. It is quite difficult to pick a minus point for Ku Coin, because they do everything quite well. Let’s review the many reasons for choosing KuCoin Exchange:

  • 1) Over 200 coins available for purchase and trading!
  • 2) Lowest trading fees and withdrawal fees!
  • 3) Non-custodial allowed – you can download your private keys!
  • 4) Extremely secure trading platform and wallet!
  • 5) No KYC required – withdraw up to 2 BTC per day!

Obviously, you can see why over 7 million users choose KuCoin Exchange. Be sure to take advantage of this cryptocurrency trading platform by first creating an account to explore KuCoin!

Register a free account at KuCoin

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