Table of contents
- What is KuCoin?
- KuCoin Review: Summary (TL; DR)
- KuCoin Review: Core Features
- KuCoin Margin Trading
- Kucoin Futures Trading
- KuCoin OTC Trading Desk
- KuCoin Lending Platform
- Kucoin Review: Supported Countries and Languages
- KuCoin Review: Customer Support
- How to use KuCoin?
- Kucoin Fees
- KuCoin Spot Trading Fees
- KuCoin Futures Trading Fees
- KuCoin Withdrawal Fees
- KuCoin Deposit Fees
- KuCoin Review: Buying Limits
- KuCoin Review: Liquidity
- What is Cryptocurrency liquidity?
- KuCoin Review: Supported Cryptocurrencies
- How to trade on KuCoin?
- KuCoin History And Background
- Privacy and Security: Is kuCoin safe?
- KuCoin Review: Pros and Cons
- KuCoin Review: Conclusion
- Frequently Asked Questions
What is KuCoin?
KuCoin is an exceptional cryptocurrency exchange platform founded by Michael Gan and Eric Don. It is based in Seychelles. The founding members are experienced in business and have previously run projects such as Ant Financial and iBox PAY. The primary objective behind the founding of KuCoin was to provide a safe and easy-to-use platform for the global audience to trade digital coins.
Kucoin is often called “The People Exchange.” It offers impressive trading pair selections and crypto-related services. It was launched in 2017 and currently has more than 200 cryptocurrencies, along with around 400 markets.
Kucoin has its cryptocurrency, Kucoin Shares(KSC). If you hold KSC coins, you will get an impressive discount on trading fees and earn more crypto.
The KuCoin cryptocurrency was at its highest in January 2018. The value was more than $1.8 billion!
KuCoin takes pride in having high liquidity, over 6 million users, a vast collection of supported assets, fiats, and services. Even if you are new to the cryptocurrency trading market, you won’t face any trouble using this platform. KuCoin’s simple, efficient and transparent UI is the answer to the question.
The exchange platform has been in the Top 10 on the list of the busiest exchanges in the world that was pulling the most crypto trading volume.
KuCoin Review: Summary (TL; DR)
1 in 4 crypto users uses KuCoin today. Millions of people trust the KuCoin exchange platform because it offers an impressive array of crypto services like trading, fiat onramp, passive income, crypto crowdfunding, etc.
- It has around 5 million users from 200 countries.
- It has over 200 cryptocurrencies and more than 400 markets.
- It allows users to earn crypto by lending or staking through its Pool-X.
- This platform comes under those with the lowest fees in the market.
- They have their coin Kucoin Shares (KCS) tokens.
- The platform has 24/7 customer services support. It’s an additional impressive benefit.
- It allows you to trade anonymously. However, by verifying your account, you will be able to use and enjoy more features.
- The platform efficiently works well on desktop computers, Android, and iOS.
KuCoin exchange is exclusively crypto-to-crypto which supports fiat payment methods integrated into its “Buy Crypto” services. Simplex, Banxa, and OTC Trading Desk are now available on Kucoin.
KuCoin Review: Core Features
We told you earlier about the advanced features of KuCoin, and now we talk about the various other parts of this platform. If you are still wondering whether KuCoin is the right choice or not, then take a look at some of KuCoin’s core features to get your question clarified.
- User-Friendly and Interactive Platform – KuCoin’s interface has a contemporary design where traders can enjoy the fun of robust trading. This feature will make trading even more enjoyable for you.
- Efficient Engine – It can handle millions of transactions per second (TPS).
- Advanced-level Charting – You can look for exciting and advanced charts on Kucoin for a more in-depth understanding of your trading strategy. KuCoin uses TradingView Charts which have indicators too, with the help of which you can reach a decision.
- Order Types: Kucoin offers limit, post-only, stop, market, and iceberg orders.
- Non-custodial Trading : In Cooperation with Arwen, KuCoin now supports the trader to opt for non-custodial trading directly from their wallet to ramp up their crypto security. If you opt for Non-Custodial trading, exchange platforms don’t have custody over your money. On Kucoin, you as a trader will have complete ownership and responsibility for your money.
As rightly said, “Not your keys, Not your Crypto”.
KuCoin lets you download a private key file or a mnemonic phrase. To protect your coins, Arwen uses the blockchain itself as an escrow agent and does not entrust a third-party authority.
KuCoin Margin Trading
The margin trading feature wasn’t available until November 2019. Using this feature, investors and traders can use other users’ funds on Kucoin to gain a higher capital amount. This allows them to leverage positions. On Kucoin margin trading, there are 15 cryptocurrencies like KCS, ETH, and BTC are available.
You can use this trading service for both short and long positions. Remember that by using borrowed funds, individuals can increment their profit. At the same time, they can also suffer a huge loss compared to the initial investment made. Kucoin has 35 trade pairs with up to 10X leverage.
Kucoin Futures Trading
KuCoin officially launched Futures trading in July 2019. It was previously called KuMEX, and its other name is contract trading. With this service, users buy and sell the future standardized contracts of financial assets. According to this service, the buyer buys assets at a particular price and specified time (Delivery date) in the future. In contrast, the sellers will have to deliver the asset at that specific price and time.
In general, you can trade coins margined contracts with up to 100X leverage. It means that if a user can trade up to 10,000 USD worth of contracts with only 100 USD in their account. There are two different versions available for Kucoin Future trading: One is for beginners (lite mode), and the other is for experienced traders (Pro mode).
The Lite interface allows users to trade USDT-margined Bitcoin and Ethereum contracts. On the other hand, the Pro interface let users switch between the following contracts:
- USDT-margined: ETC and BTC perpetual.
- BTC-margined: BTC perpetual, BTC Quarterly 0925, and 1225.
KuCoin OTC Trading Desk
In July 2019, KuCoin officially launched OTC Trading Desk that is the Over-The-Counter Trading Desk. Under this service, traders can execute larger trades with specific prices without causing any fluctuation in the price of that crypto. It allows users to purchase USDT, BTC directly, and other cryptocurrencies using CAD, IDR, VND, and CNY. KYC is compulsory to start OTC trading.
KuCoin Lending Platform
The KuCoin Lending Platform allows customers to lend cryptocurrencies to other users with interest rates. The lender has to fill in details of the Loan Amount and the daily interest rate. This interest rate ranges from 0 to 0.2%. The lend terms selection could be seven days, 14 days, and 28 days. The default is 28 days.
Kucoin Review: Supported Countries and Languages
The global reach of KuCoin is simply amazing. KuCoin supports countries like UK, US, Canada, Australia, Singapore, India, Japan, etc. The top fiat currencies with which you can buy coins are USD, EUR, CNY, GBP, CAD, AUD, and many more.
17 languages are available, including English, Russian, Dutch, Portuguese, Chinese (simplified and traditional), German, French, Vietnamese, Spanish, Italian, Turkish, Malay, South Korean, Indonesian, Hindi, and Thai. 12 different languages and prices are also available in more than 30 fiat currencies.
KuCoin Review: Customer Support
The customer support at KuCoin is entirely focused on and aware of your trade issues. They take immediate action if needed. Help is available 24/7. You also get the FAQ section and the feature of live chatting to get your questions solved.
Later in the article, we have talked about KuCoin’s well-structured maker and taker fee, high liquidity, and security in more detail.
How to use KuCoin?
Before knowing how to buy on KuCoin, you must know how to get started on KuCoin. No worries, it’s straightforward to get started since verification is optional if you are planning to make small trades. However, to reap more benefits, you may want to get your identity verified. For which all you will need is an email ID and an identity document.
Step 1: Starting the website
Go to the KuCoin website and immediately bookmark the page. This is because there may be phishing sites that open simultaneously. Make sure that you check the URL for a secure and authentic website.
Step 2: Sign-Up
Enter your email address and choose a solid password to start the KuCoin login process. Keep an eye on your email address to receive the confirmation link.
Step 3: Authentication & Verification
Adding 2-factor authentication can enforce extra-level security for your account. To enable this, you have to find the Settings tab and look for ‘Google 2-step’. However, if you are a new user, you will first install the Google Authenticator app. Thus, you will complete the formal security check-ins that were necessary to create your account. You may get a verified account by uploading the document of identity required, and your KYC will soon be approved.
Step 4: Deposits
To see the existing trading pairs, check out the market overview screen, which compromises new, rare, and popular coins. KuCoin has a clean layout. Hence you can find all the tabs and categories easily.
If you haven’t selected or decided on a coin, you can click on ‘Deposits’ under the ‘Assets’ section of the top main menu. Here, you will find a list of coins that you can deposit. Also, the Spot Trading option lets you see the coin’s chart and your order book. If you have already decided on the coin part, click on the ‘Deposit’ option, select the coin from the list or search for it. Then select an account, add the address and amount and paste it on the withdrawal platform.
One of the main reasons why KuCoin has so many users is that it offers the lowest fees than other altcoin exchanges. The Kucoin trading fee is simple and straightforward, so users find it easy to understand.
KuCoin Spot Trading Fees
Here, in KuCoin spot trading, every deal has a fixed fee of 0.1%, which is below the global industry average. Users’ 30-day trading volume and Kucoin Shares holdings determine the decrease in the spot trading fees. You also get other trading fees discounts based on the factors mentioned above.
The participants of institutional investor programs also get significant trading fee discounts.
KuCoin Futures Trading Fees
KuCoin Futures has adjustable USD/USDT lending rates because the relative funding rates can be positive or negative. The Futures funding happens after every 8 hours. Below is the detailed list of Kucoin future trading fees:
KuCoin Withdrawal Fees
KuCoin withdrawal fees is the lowest in the crypto industry. It charges 0.0004 BTC whenever a user makes a withdrawal of BTC. This fee is below industry level, which is another user why millions of people prefer it. The withdrawal fees depend on the different cryptocurrencies that are available on this platform. You can check it here.
KuCoin Deposit Fees
KuCoin deposit fees is zero. It means it does not charge a penny to users for depositing related transactions.
KuCoin Review: Buying Limits
You can withdraw up to 2 BTC per 24 hours without verification with a 1400 USD limit for buying. Verifying your account raises your withdrawal limit to 100 BTC per 24 hours, and KuCoin incurs a 1400 USDT fiat-to-Crypto trading limit. Moreover, a Verified institutional report presents your withdrawal limit to 500 BTC per 24 hours and your trading limit to 70,000 USDT.
KuCoin Review: Liquidity
Liquidity refers to the extent to which an asset, or security, can be converted into cash without affecting its current price in the market.
What is Cryptocurrency liquidity?
If you are a token issuer and listed your tokens on KuCoin, it will offer you an approach that is cost-efficient and data-driven, thus improving your tokens’ liquidity. You can promote liquidity utilizing the order book depth and can enable price discovery through token trading efficiency. The process of price discovery works efficiently when more traders are actively market-making.
The additional exchange integration offers many venues for mining for liquidity miners, and when the total rewards pools available increase, you can earn more rewards.
KuCoin Review: Supported Cryptocurrencies
As per CoinMarketCap, KuCoin has over 400 markets for ~200 cryptocurrencies like BTC, ETH, MXR, DAG, BCH EOS, LTC. Moreover, you can also get tokens like DADI, KCS, OMG, etc.
As of February 23, 2021, you can buy crypto with 22 added fiat currencies on KuCoin through the Simplex, Banxa, and OTC platforms. The supported fiat currencies include EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND, IDR, CAD, ZAR, NZD, HUF, ILS, PLN, SEK, CHF, CZK, DKK, NOK.
How to trade on KuCoin?
Cutting to the chase, let’s tell you about how you can start your trading journey on KuCoin.
Firstly you should fund your account.
You can click on the ‘Markets’ option visible at the screen’s top if it is. Here you can search for the coin you want in the search bar on the page’s top right side. Kucoin will show a list of available trading pairs for the currency you wish to buy. Kucoin has more than 300 different trading pairs.
Click on the trading pair which matches the coin deposited. It will lead you to the main trading screen, where on the right side below the order list, you will find a buy box.
Now all you have to do is enter the amount of coins you want to buy, click on the best price button and click on the green buy box to complete trading. It’s that simple.
KuCoin History And Background
Since 2011, KuCoin’s founding team had started experimenting with blockchain technology and had started technical developments in 2013. This lead to the formation of the seamless KuCoin in mid-2017.
An ICO which lasted from August 13, 2017, to September 1, 2017, raised funds for KuCoin’s.
KuCoin issued its native KuCoin Shares (KCS) tokens during that time. Users use these tokens to gain special offers, trading discounts, and exchange profits. KuCoin raised nearly USD 20,000,000 in BTC (at the time) for 100,000,000 KCS from the successful crowd sale. The ICO price for a single KCS was 0.000055 BTC.
Currently, the company’s headquarters are in Seychelles and reportedly employ over 300 employees worldwide.
The KuCoin platform achieved significant upgrades in 2019. In February, the exchange upgraded its interface to Platform 2.0, which gave it a facelift, more advanced features, new order types, new API, and other functions. In June, KuCoin also launched KuMEX, which then became rebranded to KuCoin Futures. Later that year, they introduced margin trading with up to 10x leverage.
This exchange platform’s ecosystem and horizon only kept broadening month after month. KuCoin made many important announcements later and some of them being the launch of its Pool-X Liquidity Trading Market, making of a one-stop exchange solution KuCloud.
In February 2020, the exchange launched its instant exchange service. Not only this, but KuCoin has also made a notable increase in the number of supported fiat currencies for crypto purchases through its “Buy Crypto” with a bank card option. On June 24, 2020, KuCoin announced that its P2P crypto marketplace supports buying and selling using PayPal, among other convenient fiat payment methods.
The team is constantly improving and adding new features regularly, which will help you in the Kucoin exchange.
Privacy and Security: Is kuCoin safe?
KuCoin provides bank-level asset security to ensure the safest environment possible for all transactions and account holders.
It uses various security measures like micro-withdrawal wallets to both splits. It secures your withdrawals as they take place, dynamic multifactor authentication, industry-level multilayer encryption, and a dedicated internal risk control department to ensure that your funds are safe. The KuCoin team regularly checks whether groups are doing day-to-day data operations following strict security standards or not.
Kucoin has over 6 million registered users as of now. It keeps gaining the trust of many others by keeping a check on your trade’s security and dedicating a considerable amount of resources to adding new security features.
KuCoin Review: Pros and Cons
While KuCoin boasts of several valuable features, it also has some cons. Here, is a summarized table for better understanding.
|Simple UI with advanced charts and order books||No bank deposits available|
|Free deposit and very low trading fees||Higher fees for fiat-crypto trades|
|The high number of assets available to trade||Some difficulties faced during high-traffic periods|
|Enabling of buying of crypto with fiats|
|Enabling to stake and earn crypto yields|
|24/7 customer support|
|Non-compulsion of KYC checks|
KuCoin Review: Conclusion
KuCoin has been successful in making trading enjoyable, transparent, and interactive with its advanced API. It has about 456 trading pairs to choose from and is currently #6 on the “Top Cryptocurrency Exchanges.”
It is a relatively young exchange platform in the industry experiencing significant growth. It is serving about six million users currently, which tells us about the reliability of this platform.
We have covered almost everything in this blog. From KuCoin’s liquidity to security to the trading, possibly everything has been touched. The core features mentioned in this blog will help you make a well-thought-out decision about using KuCoin.
Kucoin has been built with exceptional features and is undoubtedly one-of-a-kind. Hence, soon, it wouldn’t come as a surprise to see KuCoin take the lead in the crypto industry.
Frequently Asked Questions
KuCoin is a crypto currency exchange based in Seychelles.
Yes, we strongly recommend all KuCoin users complete the KYC verification. KYC verified accounts could also enjoy a higher daiy withdrawal limit. KYC can also reduce money laundering, fraud, terrorist financing, and other malicious activities. But yes, You can still make small trades without a verified account. You can withdraw up to 2 BTC a day without KYC.
Yes, KuCoin supports 22 different fiat currencies for buying coins.
KuCoin has partnered with Banxa to enable current and new KuCoin users to purchase cryptocurrencies using Visa/MasterCard, Apple Pay and 10 other payment options.
In terms of trading fees, KuCoin is one of the lowest fee exchanges. KuCoin’s biggest competitor is Binance, as both exchanges have similar competitive strategies. They both charge almost equally low fees. KuCoin shared (KCS) offers additional advantages.
The limit varies depending on the mode of payment. Whether you are performing a transaction using Paypal, Wire transfer, or Interac e-Transfer. Each of them has its limits. Check out here the limitations of each of the methods.