KuCoin is a crypto exchange launched in 2017, with millions of users across the globe. Learn everything you need to in our KuCoin review now.
- KuCoin Liquidity and KuCoinShares
- Understanding the Trading View on KuCoin
- Margin Trading and KuCoin
- Futures Trading at KuCoin Exchange
- The Over-The-Counter (OTC) Trading Desk at KuCoin
- Lending at KuCoin
- KuCoin’s Pool-X Staking Platform
- The Cost of KuCoin: Understanding its Fees
- KuCoin’s Deposit Options
- Security at KuCoin
Our KuCoin review is designed to provide you with all the expert insights you need to try this crypto exchange with confidence.
Since it was launched in 2017, KuCoin has gone on to become a major exchange. It has amassed a user base comprising more than five million people from across the globe, spanning more than two-hundred nations.
Seychelles-based KuCoin is generally referred to as the “people’s exchange”, and is recognized for the range of crypto services it offers. These include fiat to crypto, crypto to crypto, staking, futures trading, and more.
KuCoin has in excess of two-hundred-and-fifty supported coins along with four-hundred-and-forty trading pairs. It’s not surprising that it achieved remarkable funding in preparation for its launch, securing investments from Matrix Partners and IDG Capital, and revealed that it had earned $20 million in round-A support from investors within 18 months of launch.
KuCoin clearly benefited from a stable release and has expanded into a major contender on the crypto market in a fairly short space of time. We’ll cover the most crucial factors of its services below, as our KuCoin review continues.
KuCoin Liquidity and KuCoinShares
According to Coinmarketcap.com’s ranking process, KuCoin tends to be placed high, based on its liquidity, traffic patterns, and trading volumes. Again, that’s a testament to the exchange’s quality and popularity.
KuCoin also has its own native token, known as KuCoin Shares (KCS). You can expect to receive a KCS bonus every single day if you hold any KuCoin shares, and you’ll get discounts on trading. Reduced fees for withdrawals will be provided, too, while holders are welcome to take part in frequent votes.
Welcoming to Investors Based in the United States
Investors located in the United States are welcome to trade on KuCoin, unlike some other exchanges, which prohibit US-based investors from utilizing their services. It’s recommended, though, that American users take the time to determine whether the state in which they reside has any regulations in effect that might interfere with international cryptocurrency trading.
Understanding the Trading View on KuCoin
Exchanges incorporate their own trading views, and you need to decide which suits you best based on your personal trading preferences. The views tend to have one thing in common, though: they display the order book (or just a single part of it), as well as the specific cryptos’ price chart and a history of orders.
The trading views usually include “buy” and “sell” boxes, for your convenience. Take the time to explore the trading view options before you select one exchange, to make sure it works for you. KuCoin’s trading view is designed incredibly well and carries a wealth of crucial information.
Margin Trading and KuCoin
Another key aspect we considered when writing this KuCoin review is the exchange’s Margin Trading Service.
This empowers traders with the flexibility to utilize funds that have been supplied by other KuCoin users. As a result, they have access to bigger amounts of capital and can leverage positions (for both short and long).
While borrowing these funds can help you achieve higher profits over time, they can also increase potential losses than the investment made initially. Fifteen cryptocurrencies are supported by KuCoin Margin Trading, including Ethereum, KuCoinShares, and of course, Bitcoin. 35 trade pairs feature, too, with as much as 10x leverage available.
Futures Trading at KuCoin Exchange
The KuCoin futures trading platform was launched in summer 2019. This was followed by the Lite version around six months later.
Futures trading, also known as contract trading, involves the purchase and sale of standardized future contracts of financial assets or commodities. Future contracts stipulate that the buyer will purchase assets at a set cost at a certain time to come. The seller will need to provide said asset at the set price on the proper date.
The Over-The-Counter (OTC) Trading Desk at KuCoin
The KuCoin Over-The-Counter (OTC) Trading Desk was launched in summer 2019. This enables users to execute longer trades at specific prices, with no possibility of triggering changes in that crypto’s value.
The KuCoin OTC Trading Desk supports direct purchases of BTC, USDT, and additional crypto coins via CAD, IDR, VND, or CNY. No trading fees apply and settlements tend to be fast. All you need to take advantage of KuCoin’s OTC trading desk is to complete the full KYC registration process, including the creation of a password.
Lending at KuCoin
KuCoin’s Lending platform is designed to support users who lend cryptocurrencies to others, with interest charged to generate extra income. To take part, lenders are required to provide details on the loan amount and the rate of daily interest they wish to charge (within a range of 0 to 0.2 percent).
The Lend Terms selection can vary from one week to two weeks and even around one month (28 days by default).
KuCoin’s Pool-X Staking Platform
Pool-X, a staking platform, is known for establishing a free market which solves the staked crypto liquidity issue.
Traders can take part in Staking and achieve rewards, as well as the native Pool-X token (POL Credits). Traders can trade their staking assets with a higher liquidity level in the liquidity trading market.
The Cost of KuCoin: Understanding its Fees
KuCoin utilizes a flat fee structure, rather than charging a variety of fees between makers and takers. It provides a flat trading fee of 0.10 percent, falling beneath the worldwide average in the industry — while opinions differ on what this average actually is, it’s considered to hover around the 0.25 percent mark.
Paying the trading fees with KuCoinShares can lead to an additional discount. These trading fees are decreased based on the trading volume and holdings of the last 30 days of KuCoin Shares.
A number of crypto exchanges implement highly-competitive trading fees, but manage to hit you with the high cost of their withdrawal charges. But KuCoin is different: the withdrawal fee is equal to around 00004 BTC when withdrawing Bitcoin (for example). This falls below the average in the industry, too.
Overall, the trading and withdrawal fees give KuCoin exchange another major advantage against most of its competitors.
KuCoin’s Deposit Options
For a brief period, KuCoin accepted deposits in cryptocurrencies only — no fiat funds were permitted. As a result, inexperienced cryptocurrency investors were prevented from trading at KuCoin, though this all changed in summer 2019.
KuCoin’s switch to embracing fiat currency deposits was achieved thanks to Simplex’s cooperation. Its users can now buy Ethereum, LiteCoin, Bitcoin, and Ripple through Visa or MasterCard.
However, users in certain countries on Sanction lists cannot use these deposit methods. These banned nations include North Korea, Syria, Iraq, Libya, and Afghanistan.
Furthermore, residents of Washington, New Mexico, Connecticut, New York, Hawaii, and Georgio are prohibited from utilizing this deposit method too. Finally, KuCoin also does not accept payments via wire transfer.
Security at KuCoin
Security is a key concern when considering any cryptocurrency exchange, and KuCoin is no different.
KuCoin exchange stores a huge amount of sensitive data pertaining to its users, such as name, address, taxpayer information, and more. It handles an incredible amount of cryptocurrency and cash deposits.
That means there’s a lot at stake if a cybersecurity attack managed to breach the exchange’s defenses. Fortunately, KuCoin implements the latest security to help safeguard your funds and minimize the risk of data falling into the wrong hands.
That brings our KuCoin review to a close. We hope this helps you understand what to expect if you choose this exchange.