KuCoin Crypto Exchange Review

Rating: 4.5/5

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What Is KuCoin?

KuCoin is a Hong Kong-based cryptocurrency exchange launched in September 2017. It is a third-party exchange that allows you to buy, sell and trade various cryptocurrencies.
This exchange was created by a group of experienced business professionals who previously worked on projects such as Ant Financial and iBox PAY.

Few people know that the KuCoin exchange was previously known as Kubi, which operated in China. The rebranding occurred due to stricter rules for trading virtual assets, which forced the management to wind down their project and move to Hong Kong.

The founders' goal was to create a simple and secure platform for people around the world to easily trade a vast list of different cryptocurrencies. Also, the creators of the project aim to create a platform that will stand out among competitors with its user orientation. For example, the exchange offers a lucrative bonus program, as well as round-the-clock and prompt support. Since its launch, the KuCoin exchange has not experienced any noticeable problems, and in general, the platform does not suffer from system overloads.

Coins on KuCoin are usually added even before they appear on competing platforms. On the site you can find a list of cryptocurrencies getting ready to be listed in the near future. Currently about 200+ coins and 400 trading pairs are supported, including the most popular coins: Bitcoin, Ethereum, Litecoin, XRP, Tether, Bitcoin Cash, Bitcoin SV, EOS, Tezos, Stellar, Monero, Cardano, Tron, DASH, NEO, Ethereum Classic, ZCash, IOTA, NEM, Ontology, Cosmos, Dogecoin, Bitcoin Gold etc.


Features of KuCoin

The platform is designed with the user's needs in mind. Let's elaborate on the features of the platform, which distinguish it from other cryptocurrency exchanges.
The main feature of KuCoin is its own cryptocurrency KuCoin Shares (KCS). For owners of coins on the exchange, the developers offer a number of benefits:

  • Dividends. Every day 50% of all commissions on the exchange are evenly distributed among each KSC token, which means that all KuCoin holders make a profit every day.
  • Discounts on commissions and withdrawals. Users with KSC receive a 1% discount on trading commissions for every 1,000 KCS they hold (up to a maximum of 30%).
  • Special offers. The Exchange promises to periodically run promotions and special offers for all KSC holders.

The commission share is a kind of cryptocurrency cashback model, thanks to which the team successfully maintains an influx of new customers, and experts make optimistic predictions for the growth of KCS rate. KCS tokens can be purchased directly on the KuCoin exchange.

There are many other advantages that distinguish the exchange from competitors:

  • KuCoin Exchange has created a mobile app for user convenience. The mobile application is available for iOS and Android.
  • Fast exchange and withdrawal of funds - KuCoin claims that cryptocurrency assets are credited to customers' accounts within 2 minutes, and withdrawals within 10 minutes.
  • Stable service - KuCoin uses an "advanced multi-tiered and multi-cluster architecture" bank-level, based on three data centers that can perform multiple tasks simultaneously.
  • High-performance engine - KuCoin's merchant engine can handle up to two million orders per second and up to a million other requests.
  • Multiple cryptocurrencies - KuCoin supports multiple cryptocurrencies. The exchange benefits from an advanced server part that allows you to add new cryptocurrencies in the shortest possible time.
  • Support service - KuCoin offers 24/7 support on Telegram, WeChat and other platforms. Practice shows that they answer all questions very quickly, which most cryptocurrency exchanges cannot boast of today.

KuCoin Fees

One of KuCoin's main goals is to provide very low trading fees. Cryptocurrency deposits are free, except for the blockchain transaction fee, which you pay for the transfer. Of course, this will depend on which cryptocurrency you use.

When you make a transaction, you only pay 0.1% of the amount spent on the purchase. For example, if you want to buy the equivalent of $1,000 worth of bitcoin, you will only pay $1. This is one of the lowest commission rates among exchanges, which is a good reason to use KuCoin.

In terms of withdrawals from the exchange, the commission depends on which cryptocurrency you want to withdraw.

How to start work with KuCoin

First, you need to register on the site KuCoin. To do this, click on the "Sign Up" button in the upper right corner to begin the registration process.

How to start work with KuCoin

Then you need to fill in all the required fields in the registration form. Registration is possible both by phone number and e-mail

signup

After you enter and confirm the information, you can start working with KuCoin

start working with KuCoin

Individual KYC Verification On KuCoin

To trade on KuCoin exchange, you do not need to go through the mandatory verification procedure. But if you want to get more benefits when working with this crypto exchange, you have to go through verification procedure. You can see a detailed verification process in the video below

How to deposit to KuCoin

KuCoin trading platform is considered one of the easiest to use, so it is easy to deposit and withdraw funds from the exchange. To deposit, simply click the "Deposit" button in the asset menu and select the currency in which you are going to transfer money.

How to deposit to KuCoin

Once you choose a cryptocurrency, KuCoin will immediately generate you a recipient address.

  • No assets other than BTC can be sent to the address, and any other asset will not be returned.
  • The deposit transaction will be automatic and the BTC transfer must be confirmed by the entire BTC network and your BTC will be automatically credited to your account after 2 confirmations.
  • This address is the only one you can use at your discretion and you can make multiple transfers at the same time.

Copy this address or scan the QR code and send funds to this address.

How to withdraw funds from KuCoin

Withdrawing funds is as easy and fast as depositing. To withdraw funds from your account, simply click the "Withdraw" button in the assets menu. In the window that appears, you must enter the amount of withdrawal, wallet details, code from Google Authenticator to pay for the order. The system also immediately shows the KuCoin fee for withdrawal from the exchange. As a rule, the money arrives at the destination address in 10 minutes after creating a withdrawal request.

Withdrawal and trading commissions

To make financial transactions, as well as for transactions, you will need to pay a certain percentage in favor of the site. This platform offers quite pleasant prices - you definitely will not have to pay extra money. Compared to other top sites for trading, KuCoin's commissions are even slightly lower than the market average. You will not have to pay anything at all to deposit your balance. To place a buy or sell order, you will have to pay 0.1% of the total transaction amount. There will be different fees for withdrawals, depending on what kind of coin you want to get:

Assets

Fees

KCS

2

PLAY

40

DTA

100

BTC

0.001

USDT

10

ETH

0.01

CTR

2

LTC

0.001

Advantages and Disadvantages

KuCoin trading platform has a number of powerful characteristics necessary for successful trading, and in some aspects it is objectively inferior even to the most top exchanges.

Advantages

Disadvantages

  • No mandatory verification, the ability to trade anonymously;
  • Nice, intuitive, concise interface
  • Fast transaction processing, instant order execution
  • Low withdrawal fees
  • Availability of its own cryptocurrency, which gives its holders various bonuses in the form of reduced commissions, trade discounts, etc.
  • High level of safety and security of clients' monetary assets
  • Competent and responsive technical support, which promptly solves user problems
  • Mobile app for iOS and Android
  • no possibility to deposit and trade in traditional currencies
  • there is no possibility of margin trading - a trader can trade solely on the funds he has

Conclusion

KuCoin is an excellent platform that guarantees a high degree of protection of your assets. Transactions are fast enough, and withdrawals are almost instantaneous. The main difference between the exchange is its own blockchain and cryptocurrency KuCoin Shares. Bonuses are provided for exchange holders. It will be a good choice for beginners and experienced traders.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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