KuCoin: A Full Review

KuCoin was established in 2017 by Michael Gan and Eric Don. It is a well-known crypto exchange. They support a huge number of cryptocurrencies. What is most important, the security measures are on point. All this made KuCoin a top player in the crypto market. This review will look at the platform, its offerings and help you know if KuCoin is the right fit for you.

What is KuCoin?

Company Overview

Established: 2017

Founders: Michael Gan and Eric Don

Crypto available: 700+

Users: 30 Million

Trading volume: $2.32 Billion

From day one, KuCoin provides spot trading, marking trading, lending, and futures trading. It’s well-known for its list of altcoins, attracting traders that are interested in unique cryptocurrencies. KuCoin has its own native token. It comes with reduced trading fees, staking rewards and participation in exclusive promotions. 

KuCoin Pros & Cons

Is KuCoin Safe?

KuCoin has put in place measures to secure user assets and data. These include:

• Anti-Phishing Measures: This includes an anti-phishing phrase checked during log-in and helps prevent phishing attacks. 
• Device Security: KuCoin monitors the unique identifiers from browser plugins to detect malicious and unofficial plugins. On mobile apps, it checks if the device is rooted, jailbroken, or is being debugged by other programs. 
• Anti-fraud & anti-tampering protocols: These ensure no withdrawals happen if your device has been compromised.
• Storage in cold wallets: KuCoin separates funds across cold, warm, and hot wallets, though the majority of the assets are stored in cold wallets. 
• Multi-Signature Authentication: Multisig needs multiple independent signatures to verify transactions. 

Top Cryptocurrencies Available on KuCoin

KuCoin offers access to over 700 cryptocurrencies including:

• Bitcoin
• Ethereum
• ChainLink
• Litecoin
• Ripple
• Dogecoin
• Shiba Inu
• USDT
• USDC

Key Features of KuCoin

KuCoin provides various features that improve user satisfaction:

KuCard

KuCard allows you to pay in crypto at VISA-accepting stores by converting your crypto to fiat currencies. This makes your crypto viable in retail stores. KuCard supports USDT, USDC, BTC, ETH, XRP, KCS, and EUR. 

Trading Bots

The most popular thing at KuCoin is its trading bot. It’s great for beginners. These bots help you automate the trading strategies. 

Staking

Like many exchanges, KuCoin’s staking feature, Pool-X, allows you to earn passive income. This feature is great for long-term investors. 

Crypto Lending

You can earn interest by lending your assets to other users, with competitive interest rates.

User interface

The KuCoin offers an attractive interface that’s easy to navigate and customizable to your liking. You also get to navigate through different charts from TradingView. With its search function, you can filter coins and switch between markets. 

KuCoin Wallet

KuCoin offers a wallet with a detailed overview of all your assets. You get access to trading, margin, funding, and futures accounts.  

KuCoin Fee Structure

You can receive discounts on KuCoin fees depending on your monthly trading volume. When you pay fees with KCS you receive other reduced costs.

KuCoin offers various fees, including:

Trading fees

Trading fees: KuCoin categorizes its cryptocurrencies into 3: Class A, Class B, and Class C. 

Class	Crypto	Maker fee	Taker fee
A	Popular coins like Bitcoin (BTC)	0.1%	0.1%
B	Obscure coins like Love Coin (LOVE)	0.2%	0.2%
C	Less known coins	0.3%	0.3%

Futures fees

Fees for futures trading vary and you should confirm the fees before you engage in contracts you intend to trade.

Transfer fees

KuCoin internal transfer fees are free while transferring to external wallets attracts a network fee. This network fee varies from coin to coin. 

Withdrawal fees

Withdrawal fees depend on the specific coin you want to withdraw.

Compatible Wallets

Top KuCoin wallets compatible with KCS include:

• Trust Wallet
• MetaMask
• Ledger
• imToken
• Torus
• Coinbase
• TokenPocket
• iToken Wallet
• Assure Wallet
• SafePal
• BRD Wallet

Opening a KuCoin Account

To open a KuCoin account: 

• Click on the “Sign Up” button.
• Enter your email address or phone number 
• Accept the terms and conditions and click on “Create Account”
• KuCoin will send you a verification code on your email or phone number. 
• Create your password

You will then be directed to choose your security settings like anti-phishing phrases or a trading password. Once choose these settings, your account will be ready for trading. 

Since KuCoin is not licensed in the U.S. users from there can’t complete the verification process. This means they also can’t access benefits. 

Customer Service 

KuCoin is available on major social media platforms. You can also contact the support team via

24/7 Live chat

Ticket submission

Email at support@kucoin.com 

KuCoin Ratings

KuCoin has very low reviews on TrustPilot with a score of 1.4 out of  1.1K reviews. 

11% of reviewers have given it 5 stars stating it is easy to use, while 79% have given it 1 star because of limitations on jurisdictions as well as account and withdrawal issues.

Final Word

With 700+ cryptocurrencies to trade, KuCoin provides new and seasoned traders a feature-packed platform, where you can trade futures, spots, and margins. It has ensured maximum security for its traders across 200+ countries. There is still room for improvement as seen from its low ratings. KuCoin can work on its platform to ensure smooth and efficient trading as well as quick and seamless withdrawals.