Please note: In March 2024 the US Justice Department charged KuCoin and two founders Chun Gan and Ke Tang alleging that they "affirmatively attempted to conceal the existence of KuCoin’s US customers in order to make it appear as if KuCoin was exempt from US AML and KYC requirements." We would suggest being cautious with using KuCoin at this time.
Pros
Cons
Quick Summary
| Headquarters Location | Seychelles |
|---|---|
| Fiat Currencies Supported | USD, AUD, GBP, CAD, EUR, NZD + 50 others (some through third party apps) |
| Total Supported Cryptocurrencies | 810+ |
| Trading Fees | 0.025% - 0.1% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Paypal, Apple Pay, Google Pay, Banxa, Simplex, BTC Direct, LegendTrading, CoinTR, Treasura |
| Support | Twitter, Instagram, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
KuCoin is a globally recognized cryptocurrency exchange that provides its users with several advanced trading features. With a portfolio of 810+ digital currencies, KuCoin is renowned for its comprehensive selection.
What makes KuCoin stand out from other crypto exchanges is its profitable staking option, which enables customers to accrue rewards simply by possessing specific cryptocurrencies.
KuCoin faces certain challenges, such as the absence of regulation in numerous regions, the perceived difficulty for novices entering crypto trading, less-than-satisfactory customer support experiences, and vulnerability to security incidents (as evidenced by the severe breach in 2020, when $280 million was stolen from their hot wallet).
Despite these issues, KuCoin continues to thrive and extend its reach across over two hundred nations worldwide.
About KuCoin
Founded by Chun Gan and Ke Tang in May 2017, KuCoin provides an easy-to-use and secure exchange for trading a variety of digital currencies. Its headquarters is situated in Seychelles, which is recognized as a major offshore financial center, which enhances the exchange’s credibility.
Since its inception, KuCoin has rapidly expanded its reach to more than 200 countries and accumulated a global customer base exceeding 30 million users.
The KuCoin Exchange offers advanced trading features such as spot trading, margin trading, and futures trading. It supports a wide range of cryptocurrencies distributed across over 1,300 trade pairs.
The platform caters to beginners who can learn through provided tutorials to seasoned traders utilizing advanced tools available on KuCoin.
KuCoin has a number of active social profiles including Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram, TikTok and YouTube.
KuCoin has a mobile app on both the Apple App Store and Google Play.
KuCoin Supported Cryptocurrencies
KuCoin supports trading on over 810 cryptocurrencies on their platform. This exchange currently supports 27 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies KuCoin supports
Trading Experience
KuCoin has enhanced its trading platform by incorporating a customizable trading panel, which traders can modify to suit their individual preferences. The exchange offers layouts for professional use, full-screen viewing, and standard interactions that allow users to personalize the arrangement of trade components and sound options and expedite orders.
With this user-friendly design, KuCoin provides an array of investment choices, including spot and futures markets and margin trading. It also features opportunities such as staking and lending services.
Kucoin caters to diverse tactics by supporting different types of orders: market orders, limit buys/sells, stop-limits, and stop-market executions.
Trading Tools and Resources
The KuCoin platform has a trading bot that facilitates automated user trading. This bot allows trading practices by executing strategies automatically, which benefits traders at all experience levels. Its preset functions, such as grid trading and dollar-cost averaging, boost efficiency in trade execution while minimizing errors.
For skilled traders, KuCoin trading carries certain advantages. Its intuitive interface allows straightforward setup and oversight of trades. The system is adaptable, enabling personalization according to individual preferences regarding strategy. It also includes advanced elements that increase one’s ability to conduct trades on the KuCoin platform.
When paired with the advanced capabilities provided by this tool, such versatility equips users with an enhanced mechanism to improve their engagement in trading on KuCoin.
Exploring the Mobile Trading Arena
In today’s fast-paced world, many traders need to execute trades while on the move. KuCoin acknowledges this demand and has introduced its highly acclaimed Kucoin app, ensuring users can engage in trading activities anywhere.
KuCoin’s mobile application carries the functionality found in its desktop counterpart, allowing for a fluid trading experience.
KuCoin Fees
Seasoned traders know that having competitive fees can significantly improve their trading success. On KuCoin, users can receive discounts on these already competitive trading fees. These reductions can come from either engaging in large-volume trades or paying for those fees using KCS tokens (KuCoin’s own cryptocurrency).
Understanding Tiered Fees
KuCoin employs a tiered maker/taker fee model to accommodate its varied user base. Fees range from 0.025% - 0.1% depending on the user’s engagement and level within the tier system. This means that the more you trade, the less you pay in fees.
The Impact of Holding KuCoin Token
Owning a KuCoin Token (KCS) comes with real monetary rewards. In particular, when users hold KCS, they become eligible for a discount on trading fees that can reach as high as 20%, lowering their transaction expenses. This benefit motivates individuals to acquire KCS and maintain active participation in KuCoin.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer) | 1% |
| Deposit Fee (Credit/Debit Card) | 3.80% |
| Trading Fee | 0.025% - 0.1% |
| Withdrawal Fee (Bank Transfer) | No fees listed. |
KuCoin supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0006 BTC. The average across all other exchanges that we've reviewed is 0.000378 BTC. This means KuCoin charges above the industry average by 58.77%. This is worth noting because it likely means they are also charging higher fees and spreads across all cryptocurrencies on their platform.
KuCoin has a maker/taker fee schedule which you can see below.
| VIP Level | Amount of KCS Held | or | Spot Trading Volume – USDT (Last 30 Days) | or | Futures Trading Volume – USDT (Last 30 Days) | Maker/Taker |
Pay Fees with KCS (20% off)
Maker/Taker
|
24h Withdrawal Limit (USDT) |
|---|---|---|---|---|---|---|---|---|
| LV0 | <1,000 |
or
|
<3,000,000 |
or
|
<5,000,000 | 0.100% / 0.100% | 0.080% / 0.080% | 1,000,000 |
| LV1 | ≥1,000 |
or
|
≥3,000,000 |
or
|
≥5,000,000 | 0.090% / 0.100% | 0.072% / 0.080% | 3,000,000 |
| LV2 | ≥10,000 |
or
|
≥6,000,000 |
or
|
≥8,000,000 | 0.075% / 0.090% | 0.060% / 0.072% | 3,000,000 |
| LV3 | ≥20,000 |
or
|
≥13,000,000 |
or
|
≥16,000,000 | 0.065% / 0.085% | 0.052% / 0.068% | 5,000,000 |
| LV4 | ≥30,000 |
or
|
≥35,000,000 |
or
|
≥40,000,000 | 0.045% / 0.065% | 0.036% / 0.052% | 5,000,000 |
| LV5 | ≥40,000 |
or
|
≥55,000,000 |
or
|
≥60,000,000 | 0.035% / 0.055% | 0.028% / 0.044% | 10,000,000 |
| LV6 | ≥50,000 |
or
|
≥100,000,000 |
or
|
≥120,000,000 | 0.025% / 0.045% | 0.020% / 0.036% | 10,000,000 |
| LV7 | ≥60,000 |
or
|
≥180,000,000 |
or
|
≥200,000,000 | 0.015% / 0.042% | 0.012% / 0.0336% | 15,000,000 |
| LV8 | ≥70,000 |
or
|
≥250,000,000 |
or
|
≥300,000,000 | 0.010% / 0.040% | 0.008% / 0.032% | 15,000,000 |
| LV9 | ≥80,000 |
or
|
≥350,000,000 |
or
|
≥400,000,000 | 0.000% / 0.040% | 0.000% / 0.032% | 30,000,000 |
| LV10 | ≥90,000 |
or
|
≥550,000,000 |
or
|
≥600,000,000 | 0.000% / 0.030% | 0.000% / 0.024% | 40,000,000 |
| LV11 | ≥100,000 |
or
|
≥750,000,000 |
or
|
≥800,000,000 | -0.003% / 0.025% | -0.003% / 0.020% | 50,000,000 |
| LV12 | ≥150,000 |
or
|
≥950,000,000 |
or
|
≥1,000,000,000 | -0.005% / 0.025% | -0.005% / 0.020% | 60,000,000 |
Security - Is KuCoin Safe?
Security is of utmost importance in cryptocurrency exchanges. KuCoin understands this and has implemented strong measures to protect its users. However, it’s not immune to breaches, as evidenced by the significant security incident it experienced in 2020, which resulted in a loss of $280 million from its hot wallets.
In response to this breach, KuCoin took several measures to enhance its security and prevent future attacks. The company increased its investment in security protocols and implemented advanced threat detection systems. They also kept most digital assets in cold wallets. Most importantly, they conducted regular security audits and penetration testing with third-party firms.
Post-Hack Measures
The security breach in 2020 posed a challenge for KuCoin. However, the platform reacted with promptness and efficiency. An impressive recovery effort resulted in reclaiming 84% of the stolen digital assets, showcasing its resilience and dedication to customer protection.
To compensate for the outstanding losses from this incident, KuCoin tapped into its insurance fund. The quick response significantly reinstated trust among users on the platform.
By continuously investing in upgrading its security measures, including advanced threat detection technology, KuCoin aims to fortify its defenses against future intrusions.
KuCoin Customer Support
Providing exceptional customer support is essential for any service, and KuCoin has established multiple channels to assist its users. These include a real-time chat feature, a ticket submission system, an extensive Help Center, and numerous social media outlets that facilitate swift access to help whenever necessary.
Nevertheless, feedback from Kucoin users suggests that this support system is ineffective. There have been instances where customers experience delays in response times and challenges connecting with actual human representatives for assistance.
Also, although Kucoin offers detailed FAQs and guidance for troubleshooting problems, these solutions do not always address every concern.
KuCoin Support Channels
KuCoin Unique Offerings: Staking, Lending, and More
KuCoin provides a range of income-generating opportunities. Through KuCoin Lending, users can lend out their cryptocurrency holdings and earn interest on these assets in return.
Individuals can get rewards through Pool-X staking and various other staking mechanisms available on the platform.
The KuCoin Exchange is also distinguished by its trading bot offering and fee structure, which may offer discounts to holders of KCS tokens or those who trade in large volumes. Advanced earning options like Shark Fin, Dual Investment, and Snowball enhance these offerings. They equip users with various choices designed to reduce trading expenses and increase earnings in their KuCoin account.
KuCoin Earn
KuCoin’s staking feature, known as KuCoin Earn, allows users to earn passive income by holding and staking over 40 different cryptocurrencies for a specific period. This feature is designed to offer attractive returns for users willing to commit their assets for a fixed term.
KuCoin offers two primary staking options, Low Risk and High Yield, with hundreds of cryptocurrencies for users to choose from. This diversity of options caters to different risk appetites and investment goals, making stakes a versatile and profitable feature on the platform.
Regulatory Compliance and Legality
Compliance with regulatory frameworks and legal legitimacy are essential for any crypto exchange. However, KuCoin, Inc. is not appropriately licensed in several key regions, including the US, UK, Australia, and Europe. This raises serious questions about its adherence to regional laws and can introduce potential legal complications for individuals using its platform.
KuCoin has recognized these problems and taken steps towards improving its alignment with compliance standards by implementing a KYC (Know Your Customer) enhancement specifically designed for users of SEPA transfers related to deposits and withdrawals.
KuCoin and US Regulations
The absence of a license for KuCoin to operate in the United States results in compliance issues, especially for users in the country. The exchange does not follow US regulatory requirements, and American regulators view this situation with concern, putting users from the US at risk of facing legal complications.
How to Sign Up on KuCoin
- Create Account - Visit the KuCoin website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
KuCoin Alternatives
Binance
Total Supported Cryptocurrencies
387+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
282+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
337+
Trading Fees
-0.005% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
KuCoin offers an extensive array of features for cryptocurrency traders. It caters to traders at all levels, providing a variety of trading options and opportunities to earn through methods like staking and lending.
The platform demonstrates a strong commitment to security with its proactive stance following past breaches and continued investments in its protective measures.
Despite these strengths, there are aspects where KuCoin could enhance its offerings. The responsiveness of customer support has received criticism for being less than prompt, and concerns arise due to the absence of regulatory compliance across various countries, including the United States.
Still, many traders consider KuCoin because of its competitive fee structure and intuitive interface.
KuCoin FAQs
KuCoin is considered one of the more popular cryptocurrency exchanges and has implemented various security measures to protect its users’ funds. Like any online platform, there are inherent risks, but KuCoin uses encryption, multi-factor authentication, and internal risk control departments to enhance security.
KuCoin and Binance are large, well-known cryptocurrency exchanges that prioritize security. They both have similar security features, such as two-factor authentication and encryption.
An exchange’s safety can often be subjective, but it is based on its continuous efforts to protect its platforms and users.
The choice between KuCoin and Binance depends on personal preferences and needs. Both offer a comprehensive crypto exchange experience with a variety of services.
Users may prefer one based on factors such as interface user-friendliness, supported cryptocurrencies, or fee structures.
If you want to see how KuCoin compares to other crypto exchanges (aside from Binance), see our article comparing KuCoin vs. Swyftx.
While KuCoin provides an integrated wallet for storing cryptocurrencies, users can also choose to use their own external wallets for increased control over their private keys.
Leaving cryptocurrencies on any exchange, including KuCoin, comes with risks, such as potential exposure to hacking or platform issues. Many users opt to move their assets to a private wallet for additional security.
KuCoin doesn’t provide insurance on user funds. Users should take necessary precautions, such as using secure passwords and two-factor authentication, to protect their accounts.
Safety on cryptocurrency platforms can fluctuate, but both Coinbase and KuCoin take measures to protect their users with security features and practices. Users often consider regulatory compliance and insurance policies when comparing the safety of these platforms.
KuCoin offers a platform for trading with a wide selection of cryptocurrencies. It is known for its user-friendly interface and additional services catering to users from beginners to experienced traders.
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