Do you like cookies?We use cookies to ensure you get the best experience on our websiteLearn more

Kucoin Review: The Pros, Cons, and How it Compares?

Before you dive into the world of bitcoin, read this complete guide to Kucoin. We have everything you need to know, from buying crypto to trading and selling.

  • Kucoin
  • Dean Fankhauser
    By
  • Posted
  • Read Time7 minutes
  • Our score

Kucoin review

Our take

3.0

Boy, have cryptocurrencies come a long way over the past decade! Today, they continue to become increasingly mainstream, and they also enjoy worldwide popularity and recognition. So, it only stands to reason that many early adopters of cryptos have also evolved.

As crypto investors continue to mature, they're demanding more advanced investment tools. These tools include platforms such as KuCoin App, a margin trading and futures trading resource.

In this KuCoin review, we'll take a closer look at the app and how it helps digital currency traders to hone their strategies. That way, they can start earning even better returns. Here's what you need to know about what Kucoin is and how to use it.

What Is Kucoin?

Initially an exchange from China, KuCoin relocated to Hong Kong early on in pursuit of a more favorable regulatory climate. Today, the company has a stellar reputation as a secure, trustworthy, and user-friendly platform. 

According to Coin Market Cap, KuCoin ranks number 41 on the list of the largest and best crypto exchanges in the world. And it boasts $200 million in adjusted 24-hour trading volumes.

The company lists more than 400 tokens and cryptos and earned a reputation early on for adopting new digital coins. If you're looking to experiment with new currencies, it would be hard to find a more useful platform than KuCoin. 

The platform boasts a native cryptocurrency known as KuCoin Shares (KCS). This native coin fuels a loyalty scheme for end users. 

Promoted
InvictusUSD Margin Lending
  • Return rates optimized daily
  • Secure, stable investment growth
  • No minimum
  • No lock-up period, withdraw anytime

KuCoin Review: What You Need to Know About Fees

What else do you need to know about KuCoin? The platform doesn't charge deposit fees, and trading fees sit at 0.1 percent.

What about withdrawal fees? They vary based on the cryptocurrency you choose to use.

That said, you can still expect low withdrawal fees relative to other exchanges. For example, you'll pay just 0.0005 percent for Bitcoin (BTC), 0.01 percent for Ethereum (ETH), and 4.2 percent for USDT. Some currencies, such as GAS and NEO, come with zero withdrawal fees. 

Why Customers Love KuCoin

Users turn to KuCoin because of its wide range of features and benefits. Besides the low transaction fees listed above, other advantages include the speed of transaction fees.

KuCoin processes low-value withdrawals in a matter of seconds. With larger withdrawals, these generally take about ten minutes or less to process. As for deposits, expect these to be completed in two minutes or less. 

Talk about speedy service!

What are some other features associated with using KuCoin? They include a series of bonuses offered to consumers to encourage them to buy the platform's native token, KuCoin Shares (KCS).

What do these bonuses look like? They include daily dividends and discounts on trading and withdrawal fees. For those holding KCS, you'll also receive exclusive rewards and promotions for your activity. 

These rewards and promotions represent a way for the platform to share its profits with owners of KCS while encouraging more widespread adoption. 

Consumers should also know about KuCoin's program for bringing in new customers. Account holders who bring in new users will receive incentives. These incentives come in the form of a portion of the trading fees collected from new users. 

If you think this sounds like a pyramid scheme, you're right. We can't imagine this scheme carrying on indefinitely as it will grow more and more expensive. But if you're interested in jumping on board with this while you still can, don't hesitate. 

KuCoin Features You Need to Know About

Over the years, KuCoin has developed a strong following. How? Through its firm reliance on a tried and tested admixture of features that distinguish it from the competition. These features include:

  • Customer service

  • The KuCoin team

  • KuCoin Shares

  • API

  • Scalability

  • Safety and security

Here's what you need to know about each of these features and how they benefit users. 

Customer Service

If you've been on the cryptocurrency scene for any length of time, you understand how poor customer service proves with many platforms and exchanges. But you'll never have this problem with KuCoin. 

The company offers 24/7 support through a dedicated hotline. You may also contact customer service via email and KuCoin's website. That said, remember that KuCoin is headquartered in Hong Kong for regulatory reasons.

As a result, you may experience some linguistic and cultural barriers when calling in to speak with a consultant. Nevertheless, reaching a live person when you need them is a welcome relief, even if it requires some creative communications. 

The KuCoin Team

The designers and developers behind KuCoin brought their blockchain enthusiasm to the table when creating the company. They have a solid professional background in the industry, and they bring a robust focus on development and research to the exchange. 

KuCoin Shares

We've already mentioned KuCoin's native token a couple of times in this article. But we must come back to it again as it represents one of the platform's primary features. 

KuCoin Shares (KCS) is a decentralized coin grounded in the Ethereum protocol and relying on Ethereum wallet tech.

Beginning with a total volume of 200 million KCS, the company has since issued a plan for buyback and disposal. This plan envisions the implementation of a constant 100 million tokens on the market. 

What's more, the company has allocated ten percent of each quarter's net profit to buy back and destroy KCS. 

API

KuCoin boasts a powerful API interface that many users find highly attractive. Its APIs are divided into REST APIs and WebSocket feeds. REST APIs include four categories of public and private data, and WebSocket feeds offer public market data. 

Scalability

The KuCoin team continues to add new cryptos to the platform. They claim to support an infinite number of trading pairs, a genuinely ambitious boast. The company remains a pioneer in implementing these pairs and includes many not yet listed on other exchanges. 

Safety and Security 

You'll be happy to know that KuCoin has also implemented a series of security features created to protect the company's user funds. These safety and security features include a standard transfer encryption protocol that ensures the privacy of its customers. 

The platform also relies on a private network powered by Amazon Web Services Cloud. These services allow for the storage of micro-wallets. 

How to Use KuCoin

What do you need to know to get started with KuCoin? Click on the signup button, which you'll find in the upper right-hand corner of the KuCoin website.

When you click on this button, you'll get taken to the signup form, where you'll provide an email and password. After filling out this form, verify your email address by clicking on the link you receive via the platform. 

During this process, you may receive a warning if you're using Gmail. This warning details issues related to using Google with the site. Currently, there are compatibility issues between KuCoin and Google, which could impact your ability to sign up for the platform. 

After you log into your account for the first time, you'll go to a page where you can enable two-factor authentication (2FA). We always highly recommend enabling 2FA when using crypto platforms. 

How does KuCoin's 2FA feature work? It's provided through Google Authenticator, offering a second layer of protection each time you log into your account. 

How to Make a KuCoin Deposit

Once you've enabled 2FA, you can fund your wallet by depositing funds. Then, you can start trading via the "Overview" page under the "Assets" in the account menu.

You won't find a search feature on the platform. Instead, you must manually find the cryptocurrency you want to deposit. Or you can search in your browser by hitting "CTRL + F." 

After you've found the coin you wish to deposit, hit the "Deposit" button and head to a page where you can transmit your chosen currency for deposit. After you've specified the funds to the given address, you'll see the deposit as pending under your "Deposit Records."

Once your deposit has been processed, head to the "Markets" page under KuCoin's main menu. Here, you can search for the crypto pair you'd like to trade and then click on its icon to get started.

Types
Platforms
Coins

Kucoin App Review: Frequently Asked Questions (FAQs)

What else do you need to know about the KuCoin app and website? It's always helpful to take a look at the questions other customers have asked about it. With that in mind, here are some of the inquiries that crop up most often with this platform.
How Do You Make a Withdrawal from KuCoin?
Suppose you want to transfer assets from KuCoin to other platforms. Log into your account and click on the "Overview" under the "Assets" tab. From there, click on the "Withdraw" tab and type the name of a token into the search box. Or if you prefer, scroll down and click on the token you'd like to withdraw. From there, select the correct token and add the wallet address and amount. Finally, click "Confirm" to complete the withdrawal.
Does KuCoin Deal in Fiat Currency?
Unfortunately, the KuCoin platform doesn't handle any fiat currency transactions. As a result, you must use a different service to purchase Bitcoin or Ethereum before heading to KuCoin to fund your wallet with a deposit.
Which Digital Coins Can You Purchase Through KuCoin?
Once you've funded your KuCoin wallet with Bitcoin or Ethereum, you can start branching out into a wide variety of other cryptos. These include coins such as USDT, KCS, NEO, and many more.
How Do You Create an API?

In your KuCoin account, open the drop-down many and select "API Management." Then, select "Create API." Set your comment name for the API and create a password.

Be sure to carefully record this API password as you'll need it for verification when using the API. From here, input a trading password, email verification code, and Google verification code.

You may also switch to "SMS Verification" if needed. Once you've gone through this process, you can create multiple APIs.

Pros and Cons of Kucoin

  • User-friendly exchange
  • Low trading and withdrawal fees
  • Vast selection of altcoins
  • Ability to buy crypto with fiat
  • 24/7 customer support
  • No forced Know Your Customer (KYC) checks
  • Ability to stake and earn crypto yields
  • Complicated interface for newbies
  • No bank deposits
  • No fiat trading pairs

The Takeaway When It Comes to KuCoin

In this KuCoin review, we've examined why this platform is an innovative and ambitious one within the crypto space. The company has undergone significant growth since its advent in 2017. It's now among the crypto industry's top players.

Renowned for its reliability, security, service quality, and features, the exchange is ideally suited for both new and experienced traders. How does it compare to other exchanges? Check out our comprehensive listing of cryptocurrency exchanges to explore your options.

Earn more

Get exclusive offers and the latest news to help you earn more with your crypto

By submitting this request, you consent to Bitcompare sending you marketing communications via email. Read Bitcompare's cookie & privacy policy.