To date, KuCoin has established itself as the premier one-stop shop for all crypto-related transactions in the cryptocurrency industry. In August 2017, the exchange launched with over 200 cryptocurrencies and more than 400 markets, and it has since developed into one of the most vigorous cryptocurrency hubs on the internet.
There is bank-level security, an attractive user interface, a wide range of crypto services, including margin and futures trades, built-in P2P exchange, the option of using a credit or debit card to buy crypto, instant-exchange services with the ability to earn crypto by lending or staking via its Pool-X, by using KuCoin Spotlight, you may take part in brand new initial exchange offers (IEOs) for a little price.
Due to KuCoin's tendency to list small-cap cryptocurrencies with tremendous upside potential, a large selection of coins, including lesser-known cryptocurrencies, and generous profit-sharing incentives - up to 90 percent of trading fees are returned to the KuCoin community through its KCS tokens - investors have flocked to the cryptocurrency.
As a leading cryptocurrency exchange, KuCoin can now claim of serving every fourth cryptocurrency holder in the globe, which is a remarkable achievement.
With the fiat onramp, futures and margin trading exchange, passive income services such as reinvestment, peer-to-peer financing, peer-to-peer marketplace, IEO launchpad for crypto crowdfunding, non-custodial trading, and more, it has built an excellent suite of cryptocurrency services.
Other notable KuCoin features include:
Buy and sell 200 cryptocurrencies with minimal transaction costs all around the world. KuCoin, one of the most popular crypto exchanges, provides support for a wide range of crypto assets.
The company, in addition to offering perks and discounts, also assesses a 0.1 percent transaction fee for every deal, with significantly lower rates for futures trading.
Purchase cryptocurrencies using popular fiat currencies such as the US dollar, euro, Chinese yuan, British pound, Canadian dollar, Australian dollar, and many others.
Through its P2P fiat trade, Simplex, Banxa and PayMIR, as well as its Fast Buy service, KuCoin makes it easy to buy Bitcoin (BTC) and Tether (USDT) in IDR, VND and CNY using fiat money (USDT).
Exceptional customer assistance is available around the clock via the company's website, email, ticketing system, and other communication methods.
Asset protection at the level of the bank. The cryptocurrency KuCoin employs a variety of security measures, including micro-withdrawal wallets, industry-level multilayer encryption, dynamic multifactor authentication, and dedicated internal risk control departments, which monitor and audit the company's day-to-day data operations in accordance with stringent security guidelines.
KuCoin Futures and Margin Trading are both available. With up to 100x leverage, you can go long or short on your favorite cryptocurrencies.
Make money with cryptocurrency. Learn more about how you can put your cryptocurrencies to work for you to generate income by exploring KuCoin's crypto lending, staking, soft staking, and KuCoin Shares (KCS) bonus.
Kucoin Platform is simple to use and is suitable for beginners. Trading is made simple and entertaining for everyone thanks to the attractive design and robust trading platform.
Non-custodial trading is a type of trading that takes place outside of a bank's custody. KuCoin supports non-custodial trading directly from your private wallet, which is handled by Arwen, in case you're interested in increasing the security of your cryptocurrency investments.
Pros & Cons
Fees for trading and withdrawal are kept to a minimum. An exchange that is simple to use. A large number of alternative cryptocurrencies are available. KuCoin has a professional customer support team that is available around the clock.
The ability to purchase cryptocurrency with fiat money. There will be no compulsory KYC checks. The ability to stake cryptocurrency and earn cryptocurrency yields.
There are no fiat trading pairs. There will be no bank deposits. For newcomers, this may appear to be a difficult task.
For the most part, KuCoin is a fantastic cryptocurrency exchange for those who are interested in cryptocurrency investing. A variety of advantages are available to users, including reasonably high liquidity, a large number of users, a diverse selection of supported assets and services, and relatively inexpensive trading fees.
Additionally, it does not require all of its users to undergo Know Your Customer (KYC) checks, which is a key bonus for those who value their privacy.
KuCoin Account Verification
In order to aid in the fight against criminals and money laundering schemes, KuCoin adopted know your customer (KYC) verification on November 1, 2018. Although account verification at KuCoin is completely optional, it is recommended, particularly if you are a small volume trader.
However, verified users receive perks like as increased daily withdrawal limits and simplified account recovery in the event of a lost password or two-factor authentication device, which are not available to non-verified trader users.
KuCoin has three stages of verification:
The account that has not been confirmed. It requires email verification and allows you to withdraw a maximum of 2 BTC each 24-hour period.
An individual account that has been verified. It requires you to submit identification information such as an ID or passport, as well as information about your country of residence, and it boosts your withdrawal limit to 100 BTC per 24 hours.
An institutional account that has been verified. Increases the amount of bitcoin you can withdraw in a 24-hour period to 500 BTC.
According to KuCoin, users are highly encouraged to finish the verification process in order to avoid future difficulties. Furthermore, confirmed users will be able to participate in fiat-to-crypto trading when it becomes available on the platform.
Cooperation with crypto on-chain analytics and surveillance business Chainalysis was announced in June 2020, with the goal of enhancing KuCoin's regulatory compliance efforts even further.
KuCoin offers some of the lowest fees of any of the cryptocurrency exchanges. The fees are fair and easy to understand, and the firm charges reasonable rates.
The first and most important factor to consider is KuCoin spot trading fees. Every transaction is subject to a fixed 0.1 percent fee.
According to your 30-day trading volume or the number of KuCoin Shares (KCS) you have, the costs tend to drop.
If you possess KuCoin Shares (KCS), you are eligible for the additional trading fee discount. Furthermore, you may be able to utilize KCS tokens to cover a portion of your trading expenses through KCS Pay.
Apart from that, the exchange provides an institutional investor program, through which members can benefit from substantial trading fee discounts.
For futures financing expenses, KuCoin Futures provides an adjustable option. It's possible for the USD/USDT loan rate to be positive or negative.
In the wake of this change, the loan rate differential between the base and quotation currencies for KuCoin's perpetual futures funding rate would shrink from 0.03 percent to 0.00 percent, resulting in the funding charge for the perpetual futures of the cryptocurrency becoming zero during normal periods. The funding of KuCoin Futures occurs every eight hours at 04:00, 12:00, and 20:00 UTC (Universal Time).
Last but not least, there are transactions involving deposits and withdrawals. Deposits are completely free, whereas withdrawals are subject to a minor fee that varies depending on the cryptocurrency. NEO and GAS have the option to withdraw their funds from KuCoin.
KuCoin Design and Usability
KuCoin is straightforward and simple to use, especially for those who are new to cryptocurrency. All pages are supported by a robust API interface, which has a modern and straightforward layout that extends across all of the pages. The trading platform makes use of a cutting-edge core trading engine that can handle millions of transactions per second(TPS) and is extremely reliable.
Furthermore, you have the option of switching between the old and modern exchange interfaces. In their own way, both of them are convenient, therefore the decision on whether you prefer the old or modern exchange layout is entirely your personal choice.
Despite the fact that the trading interface may be difficult to navigate for newcomers, experienced traders should be able to navigate the exchange quite fast. The lack of a straightforward trading interface with only a few options to either purchase or sell cryptocurrency, on the other hand, may make it difficult for inexperienced investors.
Overall, it is reasonable to state that KuCoin is a robust and user-friendly cryptocurrency exchange where you can start trading. KuCoin offers a handy mobile app that is compatible with both Android and iOS mobile devices, making it ideal for those who prefer to trade on the go.
KuCloud advanced technology solutions and ecosystem
As you may have seen, KuCoin is a cryptocurrency ecosystem that is constantly expanding and offering a growing number of services. As an addition to the digital currency items already stated, KuCoin is working on the following digital currency products:
- KuChain. KuCoin is a native blockchain that is being built by the KuCoin community.
- KuCloud. Any company or individual interested in building spot and derivative exchanges with enough liquidity can benefit from this powerful white-label technology solution. It is comprised of two services: the XCoin spot exchange and the XMEX derivatives trading platform solution (formerly known as XMEX).
- Kratos. An official testnet for the impending KuChain blockchain technology.
- Ecosystem. An expanding KuChain infrastructure, driven by KCS and a number of KuCoin partners, is under construction.
Is KuCoin safe?
No documented KuCoin hacking incidents have occurred as of July 2020, according to the most recent reliable data. The exchange introduces a compelling combination of security precautions on both the system and operational levels, which is unique in the industry. System-wise, the exchange was built in accordance with finance industry standards, which ensure that data is encrypted and protected at a level comparable to that of a bank. To ensure the smooth operation of the exchange, it employs specialized risk control departments that enforce strict rules regarding data usage.
As part of its strategic partnership with Onchain Custodian, a Singapore-based crypto custody service provider, the exchange stated in April 2020 that it will be responsible for the exchange's cryptocurrency holdings. Furthermore, Lockton, one of the largest private insurance brokers in the world, provides financial backing for the funds in custody.
On the user end of things, you can increase the security of your KuCoin account by implementing the following measures:
- Security questions.
- Anti-phishing safety phrase.
- Login safety phrase.
- Trading password.
- Phone verification.
- Email notifications.
- Login IP addresses should be restricted.
You may rest assured that your cash is safe if you use these configurations. However, it is generally recommended that you do not retain all of your funds in the exchange because doing so introduces an additional point of failure. Instead, only keep what you can afford to lose if you lose it all on the markets.
In general, KuCoin is regarded as a secure and dependable platform by the majority of its users.
KuCoin Deposits and Withdrawals
Because KuCoin is a crypto-to-crypto exchange, you can only deposit fiat money if you buy it directly from the exchange through third-party links (like SImplex or Banxa). No fiat trading pairs or deposits are supported, however, it is supporting an expanding number of fiat payment methods that are integrated within its Buy Crypto services.
Withdrawals are subject to a variable fixed fee that varies depending on the amount of money being withheld from the account. Transaction processing durations vary depending on the asset's blockchain, however, they are often completed within one hour, resulting in withdrawals reaching user wallets within two to three hours.
For this reason, consumers who withdraw greater amounts may have to wait up to four hours or even eight hours for their funds to be processed.