KuCoin is a popular cryptocurrency exchange known for its vast array of coins, low trading fees, and user-friendly interface. Established in 2017, it has quickly grown to serve over 27 million users across 200 countries. With 24/7 customer support and multiple payment options, KuCoin is positioned as “The People’s Exchange” for both novice and experienced traders alike.
In this review, we will delve into the features and benefits of KuCoin, exploring its strengths and weaknesses and determining whether it is a viable option for those looking to trade cryptocurrencies.
Are you looking for the safest exchange to Trade Bitcoin, Ethereum, and other Altcoins? If so, then let us introduce you to KuCoin, a popular cryptocurrency exchange known for its accessibility of hundreds of coins, low trading fees, and user-friendly UI.
In this article, we’ll do an in-depth overview of KuCoin, explaining different features of its while comparing it to other alternatives. So, stay with us and read this article till the end!
What is KuCoin?
KuCoin, also known as “The People’s Exchange,” is the fifth largest crypto exchange according to market cap, with multiple payment options, including support for fiat money. Currently, the platform has over 10 million users with 750+ coins to trade.
According to the official documents of the platform, the idea behind building the platform was to establish a crypto exchange with accessibility across the world. As of now, the exchange is accessible across 200+ countries worldwide and officially has over 20+ global communities. One of the reasons why over 10 million actively use KuCoin is because of its Customer Support.
Where is KuCoin based?
The exchange was initially released in 2017 in Seychelles, a country based in East Africa. As of now, the headquarter of the platform is in Seychelles. But, according to the latest details officially confirmed by the platform itself, KuCoin will establish regional headquarters in different parts of the world, including Bangkok, Hong Kong, Dubai, and more very soon.
Who created KuCoin?
KuCoin was officially launched by Michael Gan, Eric Don, Top Lan, John Lee, Kent Li, Linda Lin, and Jack Zhu on September 15, 2017. There is an interesting story behind the development of the platform. Michael Gan, his then-boss and now-partner Eric Don, and passionate crypto traders finalized the platform’s code in 2013. According to Michael, one of the founders, he was interested in BTC trading, but he came to know that it was tough for beginners to use traditional exchanges available at that time. So, he decided to create an easy-to-navigate, user-friendly crypto-trading exchange along with Eric.
Who owns KuCoin?
As mentioned above, the exchange was developed by a few passionate cryptocurrency traders but now it’s a multi-national brand. Currently, Johnny Lyu is the CEO of the platform. He is also one of the founding members of the KuCoin exchange. Now, he is responsible for all the operations of KuCoin. For those who don’t know about Johnny Lyu, he is an expert crypto trader with valuable experience in different industries such as auto, internet, and e-commerce industries.
The KuCoin platform has a built-in Customer Care Center where users can avail support from exchange agents 24/7 for free by doing live chats.
Since 2021, Coin-Labs.com has partnered with Bybit and is few of the highest-ranking of affiliate program contracts.
Therefore, if you sign up for Bybit through the button above, you will get the most discounted fee benefit and participation in a bonus event offering up to $500.
Pros and Cons of KuCoin
Pros 👍
- Extremely low trading fee: The exchange charges a meager trading fee among all cryptocurrency exchanges. There are no fees for depositing. In other words, you can deposit any amount of crypto for free. But users will have to pay a fee to deposit fiat money using Fast Method mentioned above.
- Wide variety of coins: More than 750+ Cryptocurrencies, including Bitcoin and Altcoins, are listed on the Exchange with different pairs to trade with. We believe whatever coin you like, you’ll find it here: Top Tier coin or low market cap gem.
- User-friendly exchange: User-friendly UI is one of the most recognizable advantages of the exchange, which is why we believe it is perfect for novice crypto traders.
- KCS Bonus: Traders can earn bonuses daily by holding KCS token (the native token of the exchange).
- Advanced features: It offers advanced features for experienced crypto traders not offered by basic crypto exchanges. These features include Margin trading, Futures trading, lending, and borrowing cryptocurrencies. Users can also earn additional coins through staking.
- Amazing 24/7 live customer support
KuCoin charges a very nominal fee of 0.1% for spot trading, similar to other major exchanges, including Binance. Even better, this fee can be reduced to 0.08% by paying the fee using KCS(native token.)
Cons 👎
- Unlicensed to operate in the US due to strict rules and regulations regarding cryptocurrency
- Trading of fiat pairs is not supported by the KuCoin exchange
Is KuCoin legit?
Of course, KuCoin is legit. As explained earlier, the platform has been in the industry for more than 6 years, and to date, not a single reliable case against the legitimacy of the exchange has been reported. However, it is not licensed to operate in the U.S., so we would not suggest US crypto traders sign up for KuCoin’s account. But they can trade on the platform with limited access.
How to of KuCoin
Do you want to know how to successfully adapt KuCoin exchange in your preferred crypto exchange? Follow the sections below for step-by-step instructions on how to use, trade, withdraw, stake, and many more.
How to use KuCoin
If you are a beginner and not sure how to use the platform, well, then follow the below step-by-step guide on how to use KuCoin.
1. Visit & Log in
The first step to trade on the exchange is to visit the official website.
Make sure the domain starts with KuCoin.com without any slashes, dots, or misspelled words; otherwise, you can end up losing your funds to scam sites. Once you visit the official website, the main page will be displayed below.
Now click on the Login icon if you already have an account. If you don’t, then click on the Sign-up icon available right next to log in.
2. Complete signup process
Once you tap on the Signup Icon, the inner page with the form will appear similar to the below one.
There are two options to sign up; Mobile and Email. Whatever you like, select it and fill in the necessary details. If someone referred you, then type in the referral code. However, if you don’t have any referral code, then leave this field as it is (without filling it) and tap on Signup.
3. Do KYC
Unlike other platforms such as Binance, Coinbase, and other major exchanges, here on KuCoin, KYC (Know your Customer) verification is not mandatory. However, if you don’t have KYC, then your access to advanced features on the platform will be limited. So, hence it’s better to do KYC.
In Order to Do KYC, tap on the Profile icon available on the right side of the menu navigation. There a pop-up will appear containing a KYC Button. Now, click on the KYC button and start the verification process.
Requirements for KYC
KYC requirements here are also similar to other exchanges, including those mentioned above. You have to fill the form with details such as your country or region name, your full name, and your identity document. For the identity document, there are three options available:
- A driver’s license
- National ID
- A passport
and then after filling in all the requirements, click Submit.
How to buy crypto on KuCoin
Buy Directly from the platform
Purchase crypto directly on the KuCoin platform. If you already don’t own any cryptocurrencies and are a newbie, don’t worry, as this platform has everything you need. Three methods are available to purchase crypto on KuCoin; P2P, Fast Buy method, and Third Party.
Use P2P
Peer-to-Peer Method for buying and selling cryptocurrency with fiat currencies is pretty famous here on KuCoin. More than 20 Fiat currencies are listed on P2P, including USD, EUR, GBP, CAD, and more, which users can trade to Purchase Crypto.
Buy Using Fast Method
If you are unfamiliar with the P2P method or find it hard to purchase coins through it, then Fast Method is for you. With your Mastercard or Visa card, traders can purchase cryptocurrency directly on KuCoin.
Third-Party Method
It’s a pretty much risky method because you’ll be redirected to third-party sites for directly buying Bitcoin. So, we recommend it would rather be better to use the above two methods.
How to use KuCoin in US
The exchange is accessible in the US through the KuCoin.com official domain. However, as mentioned earlier, as it is not registered under the laws of the United States, so your access to multiple advanced features of the platform will be limited.
If you are wondering how to deposit USD into KuCoin? The answer to this question is pretty simple. Traders can use the P2P and other buying methods mentioned above to deposit USD into the exchange.
How to trade on KuCoin
If you are a newbie and not sure how to buy crypto on KuCoin or how to buy KuCoin native token on the platform, then follow this below-step-by-step guide.
1. Tap on trade
Buying cryptocurrencies on the platform is pretty easy because of the clean UI of the platform. First, Click on the Trade button from the header navigation, then select the Spot Trading Option. If you are an expert, you can do margin trading, as well, with KuCoin buil-in Trading Bot option.
2. Select pair
Once you select the Spot trading option, you’ll be redirected to the inner trading page, which will be displayed similarly to the below example.
Now, from here, the first step is to select the Pair you want to Trade with. In our case, we are selecting ETH/USDT.
3. Place order
After selecting your favorite pair, from the bottom right section, select the amount you want to buy or sell in the respective section or manually add the amount and place an order on Limit or Market or Stop market conditions.
Keep in mind, you can only trade this way if you already have relevant coins deposited on your balance sheet.
How to withdraw from KuCoin
There are multiple methods of withdrawing from the exchange depending on what kind of withdrawal you need. If you want to transfer your cryptocurrency into other exchanges or to a Cold wallet then the method will remain pretty much similar to transferring to other exchanges.
First, go to your balance sheet, select the currency you want to withdraw, enter the amount, paste the address you wish to withdraw, and click on the Withdrawal button. Once it’s done, Withdrawal processing will start instantly, and depending on the blockchain validation process, it will reflect on your account in withdraw section.
If you are wondering how to withdraw money from KuCoin to the bank, use the P2P method or the Third-Party selling option available on the platform.
How to transfer from Coinbase to KuCoin
There are two ways to transfer crypto from Coinbase to KuCoin. First, traders can directly scan the QR Code available on the exchange’s deposited page or manually transfer any amount using “Deposit Address.”
How to stake on KuCoin
From the “Earn” section of the exchange, users can stake different cryptocurrencies, including LUNA, Ethereum 2.0, DOT, and more, to earn staking rewards. There are multiple ways to stake cryptos, such as flexible and fixed terms with high yields.
How to buy Telcoin on KuCoin
For buying Telcoin on KuCoin, search TEL on the Spot Trading section, and three pairs, TEL/USDT, TEL/BTC, and TEL/ETH, will appear, respectively. Now, select the pair you want to Telcoin with and purchase any amount without limitations.
How to buy USDT on KuCoin
Using the P2P or Fast Method, users can purchase USDT with the help of their Mastercard or VISA Card.
How to buy Terra Luna on KuCoin
Select LUNA/USDT or any other Pair you like on the Spot and start buying Terra Luna on KuCoin with nominal fees.
How to short on KuCoin
In order to long or short Bitcoin, Ethereum, or other major listed coins on the exchange, first, go to the Future Trading section on the platform, and from there, select your favorite pair and short it from whatever price you like.
Before shorting on KuCoin, make sure to transfer some crypto coins from Spot wallet to Future wallet.
KuCoin Review
Review and basic information of KuCoin are as follows.
| Crypto Exchange Basics | KuCoin |
|---|---|
| Official Name | |
| Exchange Representative (Founder) | |
| Headquarters Location | |
| KuCoin Launch Date | 1970-01 |
| Number of Tradable Crypto Pairs | Pairs |
| Weekly Visits | 0 Users |
| Overall Rating | ⭐ / 5.0 |
The rating result at the top is the result of Coin-Labs.com's overall evaluation of KuCoin.
KuCoin was rated in seven categories: fees, diversity and quality of the services provided, security capabilities, etc.
KuCoin Fee 2024
The fees charged to you for transactions at KuCoin are as follows.
| Maker/Taker Fees | KuCoin Transaction Fees |
|---|---|
| Spot Maker Fee | No Service Provided |
| Spot Taker Fee | No Service Provided |
| Derivatives Maker Fee | No Service Provided |
| Derivatives Taker Fee | No Service Provided |
The fees shown in the table above are KuCoin transaction fees charged to a regular user.
KuCoin Trading Volume
Trading Volumes of KuCoin are as follows. (Based on CoinMarketCap 2024-11-21 22:35:29 data)
| Trading Volume Items | KuCoin Trading Volume |
|---|---|
| Daily Trading Volume (24h) | 0 KRW |
| Weekly Trading Volume (7d) | 0 KRW |
| Monthly Trading Volume (30d) | 0 KRW |
| Daily Volume Change (24h) | 0.00% |
| Weekly Volume Change (7d) | 0.00% |
| Monthly Volume Change (30d) | 0.00% |
Communicate with KuCoin
You can check exchange's messenger and SNS information in the table below.
| Types | URL |
|---|---|
| 🎺 Messenger |
FAQs
Who founded KuCoin exchange?
KuCoin was founded in 1970 by .
Where is KuCoin located?
Currently, KuCoin's headquarters is known to be located in the .
How many cryptocurrencies are tradable on KuCoin?
If you join KuCoin, you can trade a total of crypto pairs.
How much is KuCoin trading fee?
KuCoin has a spot maker fee of % and a taker fee of %. On the other hand, the maker fee for futures trading is N/A and the taker fee is N/A. Please note that these fees are for regular users, and the higher your membership level within KuCoin, the lower the fees.
How much is KuCoin trading volume 24h?
KuCoin's trading volume 24h is 0 KRW. Furthermore, the daily trading volume is showing a 0.00% change from the previous day.
How much is KuCoin weekly trading volume?
KuCoin's weekly trading volume is 0 KRW, with a total of 0 users. Furthermore, KuCoin's weekly trading volume is showing a change of 0.00% from the previous week.
How much is KuCoin monthly trading volume?
The monthly trading volume of KuCoin is 0 KRW. Furthermore, this month's trading volume is showing a change of 0.00% compared to the previous month.
