KuCoin Review

KuCoin Review

A comprehensive review of the cryptocurrency investing platform, KuCoin.

Summary: KuCoin is a prominent cryptocurrency exchange platform established in 2017. The company is headquartered and registered in Mahé, Seychelless, providing a comprehensive selection of cryptocurrencies for trading, such as Bitcoin, Ethereum, and over 700 additional altcoins. KuCoin strives to offer a secure, dependable, and user-friendly trading experience to its users across more than 200 countries worldwide.

KuCoin delivers an array of services, including spot trading, margin trading, futures, staking, an NFT Marketplace and more, to accommodate the varied requirements of the crypto community. The platform has garnered over 20 million users from all corners of the globe due to its extensive range of supported cryptocurrencies and advanced trading features tailored for both beginners and experienced traders.

4.9 out of 5 by Datawallet
KuCoin is a feature-rich cryptocurrency exchange that is based in Seychelles. It is one of the largest global no-KYC trading platforms with 20+ million registered users.
Trading Fees start from a competitively low 0.1% and get to 0.02%.
Supported Cryptocurrencies
Buy and sell over 700 cryptocurrencies including memecoins, stablecoins and alt coins.
Deposit Methods
Bank Transfer, Credit/Debit Card, Neteller, Skrill, PayPal, Transfer Wise, Banxa & Simplex.

Content Guide

KuCoin Key Features

KuCoin is a feature-rich platform that offers a variety of services and products from crypto staking to derivatives trading. Below is a detailed summary of the key features offered on KuCoin.

  1. Over 700 cryptocurrencies: Trade a vast array of coins, including stablecoins, memecoins, altcoins, and dog coins.
  2. Crypto staking: Benefit from 5 staking options, earning rewards by holding assets on the platform.
  3. Derivatives/futures trading: Access 4 types with up to 100x leverage on select tokens.
  4. Lending feature: Lend assets to investors and earn yields.
  5. NFT marketplaces: Explore Wonderland for exclusive project launches and Windvane for diverse offerings.
  6. User-friendly interface: Easily navigate the platform, even for beginners.
  7. Competitive fees: Enjoy a 0.1% trading fee for most transactions.
  8. Fee discounts: Hold KCS tokens for reduced trading fees.
  9. Margin trading: Trade select assets with up to 150x leverage.
  10. Mobile app: Manage accounts and trade on iOS and Android devices.
  11. Multilingual customer support: Access 24/7 live support in English, Mandarin, Japanese, and Korean.
  12. Rewards hub: Earn free crypto by completing designated tasks and quizzes.
  13. KuCard: Use the VISA crypto card to spend tokens on real-life purchases.
KuCoin: Crypto Card.
KuCoin: Crypto Card.

Is KuCoin Legit?

KuCoin is a legit and well-established exchange, headquartered and registered in Seychelles, operating since 2017. That said, they have previously suffered a $281 million hack into their cold wallets in 2020, which has since raised serious about their internal practices. Another note is that is a relatively unregulated platform that is based in an off-shore jurisdiction. The absence of regulation can potentially increase risks related to funds and platform security.

KuCoin: Security.
KuCoin: Security.

The KuCoin Hack of $281 Million

In September 2020, KuCoin cryptocurrency exchange was hacked, losing around $281 million. Attackers accessed private keys of the exchange's hot wallets, enabling them to transfer funds to their own wallets. KuCoin mitigated the damage by freezing affected accounts, collaborating with other exchanges, and working with law enforcement to recover a significant portion of the stolen assets. The hack highlights the importance of robust security measures, including using offline cold wallets and enabling two-factor authentication.

Does KuCoin have high fees?

KuCoin provides competitively low pricing and offers significantly lower fees than most exchanges. The trading fee is 0.1% for most trades, which is well below industry average. The exchange also offers 20% discounts on fees for users who hold certain amounts of KuCoin's native token, KCS. Refer to the below list for a quick overview of KuCoins fees.

  • Deposit Fee: All deposits on KuCoin are free.
  • Withdrawal Fee: Crypto withdrawals are subject to a small fee to cover the cost of gas, see detailed list here.
  • Spot Trading Fee: Starts from 0.1% and gets lower the higher your monthly trade volume is.
  • Derivatives Trading Fee: Maker/Taker rebate starts from 0.02%/0.06% and gets lower the higher your monthly trade volume is.
  • Convert: Zero fees.
KuCoin: Fees Schedule.
KuCoin: Fees Schedule.

Assets and Trading Types

KuCoin offers a wide range of digital assets for trading, including popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, as well as a variety of altcoins, memecoins, dogcoins, stablecoins and DeFi coins. It is widely regarded to be the home of altcoins.

As for trading types, KuCoin currently offers Spot trading, Margin trading, Convert, Futures Classic & Futures Lite trading, Futures Brawl and Leveraged Tokens. Additionally, the exchange offers a trading bot on hundreds of pairs.

KuCoin: Available Markets.
KuCoin: Available Markets.

How to contact KuCoin customer support

If you need assistance with your KuCoin account, you can contact the exchange's customer support team through their online support centre. The support centre offers a variety of resources, including a knowledge base, FAQs, and a ticket system for submitting support requests. The support team can also be reached 24/7 via live chat, email (support@kucoin.com) or phone ((855) 206-2326).

Furthermore, you can join one of KuCoins many online social media platforms and talk to the team directly there. KuCoin is available on Facebook, Telegram, Twitter, YouTube, Discord, Reddit, Github, LinkedIn, Instagram, Medium and VK.

KuCoin: Help Centre.
KuCoin: Help Centre.

Cryptocurrency Staking Options

KuCoin offers staking for a variety of cryptocurrencies, allowing users to earn rewards by holding their assets on the exchange. Their services include five staking types which we will break down below:

  1. Dual Investment - Fixed term staking where there are two coin types that can be used for purchasing the same underlying asset. Available staking tokens are ETH, USDT & BTC.
  2. ETH 2.0 - Stake Ethereum with no minimum token amount required.
  3. Polkadot - Participate in Parachain slot auction bids.
  4. Burning Drop - Stake your assets to mine new tokens (for example, at the time of writing you can earn NAVI).
  5. Promotions - Fixed and flexible staking on hundreds of different tokens with APY (yields) up to 130%.
KuCoin: Earn.
KuCoin: Earn.

KuCoin Mobile App

KuCoin offers a mobile app for both iOS and Android devices. The app allows users to access their accounts and trade on the go, making it convenient for those who want to stay connected to the market. The app has a user-friendly interface and offers all of the same features as the desktop version of the exchange.

On the Apple App Store the KuCoin application is rated 4.6 stars out of 18K reviews. It is rated 4.3 stars from 120K reviews on the Google Play Store.

KuCoin App: iPhone Screenshot.
KuCoin App: iPhone Screenshot.

Is KuCoin available in the US?

KuCoin is not currently available in the United States. The exchange does not have a license to operate in the country, and as a result, US residents are not able to use the platform. Even if you use a VPN, KuCoin requires KYC (identity verification), and if you submit a US-issued ID, your account will be banned. For the full list of supported jurisdictions, visit here.

Bottom Line

In conclusion, KuCoin is a well-established cryptocurrency exchange offering a wide variety of cryptocurrencies and trading options, catering to users across more than 200 countries. With over 20 million users worldwide, the platform provides an accessible and user-friendly experience, competitive fees, and diverse features such as staking, derivatives trading, and an NFT marketplace.

While it has experienced security challenges in the past, KuCoin remains a popular choice for both novice and experienced traders. However, the platform is currently unavailable for users in the United States.

Frequently Asked Questions

Got More Questions? We've Got Answers.
A Guide to Commonly Asked FAQs.

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