KuCoin Review

KuCoin has many different services and features that make it an attractive option. It is consistently rated as one of the best exchanges by many organisations.

KuCoin

One of the best crypto exchanges. It supports 600+ cryptocurrencies and offers some of the lowest fees in the industry.
7.5Expert Score
KuCoin Rating

KuCoin is consistently rated as a top 10 cryptocurrency exchange by many different organisations.

Security
7
Ease of use
7
Customer support
7
Value for money
10
Positives
  • 600+ cryptos to trade
  • Low trading fees
  • Automated trading bots
  • 10 million clients worldwide
Negatives
  • no fiat-to-crypto exchange
  • Quick buy feature has hidden fees
  • No US license

KuCoin Review: Overview

In this KuCoin review we lay out all the pros and cons of the KuCoin exchange. You will find out about the different services and features, KYC, altcoin selection, trading fees, customer service, security and more.

KuCoin is a crypto-to-crypto exchange that is packed with a great variety of features. As a result customers sign up to KuCoin for a variety of different reasons. Above all, most people are attracted by the huge selection of altcoins and the low trading fees.

Additionally KuCoin have a high daily trading volume of well over $1 billion and good liquidity. This makes it a pretty solid exchange and trading platform.

kucoin-coinmarketcap

Sourced from CoinMarketCap

Some users are also attracted by the fact that KuCoin do not have KYC (Know Your Customer) forms to fill. That is to say up to a certain degree.

However KuCoin does have some drawbacks. Like for example how it does not accept fiat deposits. Secondly it is a bit more complex to use and not a good exchange for beginners.

Regardless according to KuCoin 1 in 4 crypto users have an account with KuCoin. Moreover KuCoin is well rated by many organisations. Hence it is regularly featured as a top 10 crypto exchange.

KuCoin is a top 5 spot exchange in terms of overall performance – Coinmarketcap

KuCoin Review: Services and Features

Spot Trading

Spot trading is trading at the current market price. The are many crypto pairs available to trade on the site.

Margin Trading

You can trade using leverage. This means that you can borrow other people’s funds to trade with. If you have never used leverage before it is best to stay away from it.

This is because if you make money you can pay off your debt. However if you lose money you will end up in a tough spot. You do not want to put yourself in this position.

KuCoin Bot

KuCoin have over 6.5 million bots that KuCoin customers worldwide can use. The nice thing about the bot is that customers can automate their trading strategies. Additionally it is free to use, easy to set up and saves you time.

As soon as the KuCoin bot went live 300,000 clients jumped on the opportunity to use the tool. KuCoin clients made $150 million profit using the bot hence why it is so popular.

Earn Crypto

There are several different ways you can earn crypto passive income on KuCoin. They are:

  • Crypto Lending – you can lend out your crypto to earn interest. Some cryptocurrencies can earn you double digit annualised returns.
  • KuCoin Earn – This is professional asset management. There are many products to choose from that are highly flexible.  
  • KCS Bonus – If you hold KuCoin tokens you can earn bonuses daily.
  • KuCoin Pool – There are crypto mining pools for BTC, BCH and ETH available. You can join this mining pool and get one of the lowest mining fee rates available on the market.
  • Cloud Mining – If you do not have mining capabilities you can buy cloud mining on the KuCoin Pool.
  • KuCoin Win – This is a lottery you can take part in.

KuCoin Staking

Staking is the act of locking up your proof-of-stake crypto for a certain period. When you do this, you help the network to verify transactions and in return you receive rewards. To clarify, the reward you get is based on the amount of crypto you stake.

KuCoin have a good list of tokens which you can stake.

KuCoin Staking Rewards and Redemption Period

CryptocurrencyEst. APR*Redemption period
Hydra HYDRA47.2%1 days
Persistence XPRT27.51%21 days
Zilliqa ZIL11.2%3 days
Anchor Protocol ANC10.48%7 days
Kusama KSM10.3%7 days
v.systems VSYS8.2%3 days
Origin Dollar OUSD7.72%1 days
Cosmos ATOM7.51%21 days
Polkadot DOT7.51%28 days
TomoChain TOMO6.2%3 days
Wanchain WAN6.2%3 days
Polygon MATIC4.2%4 days
Tron TRX3.2%3 days
Cardano ADA3.2%1 days
Terra LUNA2.51%21 days
Chainlink LINK0.41%14 days
KuCoin Token KCS0.41%14 days
EOS EOS0.2%3 days

* Annual percentage rate

Before you stake coins you should double check the currency staking APR rates. They can change over time.

KuCoin Review: App

If you want to trade on the go then you can download the KuCoin app. It’s available for both Android and IOS mobile phones from Google Play and the App Store respectively.

KuCoin Review: Supported Languages

The KuCoin website supports 19 different languages. That includes English and various other European and Asian languages. However the exchange community on social media are not available to all 19 languages. That is to say they are always available in English.

KuCoin Review: Supported Currencies

KuCoin supports a large list of 600+ cryptocurrencies across different cryptoasset classes. That of course includes:

  • Popular cryptocurrencies; Bitcoin, Ethereum and XRP.
  • Privacy coins; Monero and Pirate Chain.
  • DeFi coins; Aave and Luna.
  • Metaverse coins; Sand and Mana.
  • Other popular altcoins; Avalanche, Cardano, Polkadot and Solana.

KuCoin Supported Countries

While we were doing this KuCoin review we noticed that KuCoin do not openly disclose the list of supported countries. Meanwhile they do say they have registered users from 207 countries and regions world-wide. We do know that:

KuCoin is fine to use in Europe, Australia, New Zealand and Canada. On the other hand it is not licensed to operate in the US.

This is because the US has more stringent regulation than most other countries. As a US citizen you can still register an account with them. However you would need to take some things into consideration. We cover these points in the ‘KuCoin KYC’ section below.

KuCoin KYC

You do not need to do KYC verification to use KuCoin freely. However it will limit the amounts you can trade and withdraw every 24 hours.

KuCoin Withdrawal Limit

Type of AccountWithdrawal Limit
Non-verified account1 BTC per 24 hours
Verified individual account200 BTC per 24 hours
Verified institutional account500 BTC per 24 hours

KuCoin Trading Limit

Type of AccountTrading Limit
Non-verified account1400 USDT per 24 hours
Verified individual account70,000 USDT per 24 hours
Verified institutional account500,000 USDT per 24 hours

Anyone from around the world can sign up to KuCoin and not do KYC. Certainly that also includes US citizens. For people residing in most countries opting not to do KYC is not a problem. Of course this also depends on how much funds you have. However:

KuCoin does not give the same level of customer support to unverified customers. So it could turn into a big deal if your account gets hacked and your funds are stolen. Additionally for US residents there is the risk that your funds and assets might get frozen. This could happen if US regulators crack down on exchanges operating without a valid license.

On the other hand KuCoin can come in handy for if you live in particular US States. This is especially the case if you do not have other crypto exchanges available. However, there are other options available such as FTX US which is regulated for US users.

KuCoin Payment Methods

KuCoin have many different payment methods. However this does not make up for one of KuCoin’s major drawbacks. You cannot deposit fiat into your account.

To clarify you can buy crypto using fiat. That is, if you opt to use credit cards, Google Pay or Apple Pay. However bank transfer is not available as an option.

As a result this will limit the amount of crypto you can buy. Additionally you can only fast buy Tether (USDT), Bitcoin (BTC) and Ethereum (ETH).

A work around for this is if you purchase crypto using another exchange. After that you can transfer your crypto funds to KuCoin and buy or trade other cryptocurrencies.

KuCoin Deposit Fees

There are no fees when you deposit cryptocurrencies into your KuCoin account. So what you send to your KuCoin crypto wallet is what you will see in your wallet.

On the other hand KuCoin also says that buying crypto with fiat using their instant buy feature is free. However KuCoin have hidden fees in this case. They slightly increase the price of the crypto you are buying and pocket the difference.

We are not sure how much extra they bump up the rate. However it is probably around a couple of percentage points. These are not the most transparent practices which is rather unfortunate and one of KuCoin’s few negatives.

KuCoin Withdrawal Fees

Here are the withdrawal fees for some of the most popular cryptocurrencies:

CryptoFee
Aave0.25 AAVE
Bitcoin0.0005 BTC
Ethereum0.00625 ETH
Litecoin0.001 LTC
Avalanche0.01 AVAX
Cardano1 ADA
Decentraland9 MANA
Monero0.001 XMR
Pirate Chain2 ARRR
Polkadot0.1 DOT
The Sandbox8 SAND
Solana0.01 SOL
Ripple XRP0.25 XRP

KuCoin Trading Fees

KuCoin trading fees are competitive and one of the lowest amongst all the cryptocurrency exchanges. You can save on fees depending on how much you trade on a 30 day basis. So the more you trade the less you will pay in fees.

KuCoin Spot Fee Table

Spot trading vol. last 30 days (BTC)Maker / Taker
50 BTC or less0.1% / 0.1%
50 – 200 BTC0.09% / 0.1%
200-500 BTC0.07% / 0.09%
500-1000 BTC0.05% / 0.08%

The fees keep getting lower the more you trade. In fact KuCoin will pay you a percentage as a market maker if you trade more than 8000 BTC. However we can assume that most people do not fall within this category. Hence why we did not include information over 1000 BTC in the table.

Moreover if you opt to trade using KCS tokens you can save an extra 20% on fees.

Spot trading vol. last 30 days (BTC)20% discount using KCS
Maker / Taker
50 BTC or less0.08% / 0.08%
50 – 200 BTC0.072% / 0.08%
200-500 BTC0.056% / 0.072%
500-1000 BTC0.04% / 0.064%

You can apply for the 20% discount by navigating to your profile and switching on ‘KCS Pay Fees’.

kucoin-kcs-pay-fees

KuCoin Futures Fees Table

Futures trading vol. last 30 days (BTC)Maker / Taker
100 BTC or less0.02%/0.06%
100 – 400 BTC0.015%/0.06%
400-1000 BTC0.01%/0.06%
1000-2000 BTC0.01%/0.05%

KCS Holdings Fees Table

If you hold a certain amount of KuCoin’s own token (KCS) you can also save on fees. So if you are holding more KCS then trading you can still benefit from the lower trading fees.

On the other hand although holding the KCS token has its advantages it has its disadvantages. KCS is not a stable coin and its value is volatile much like other cryptocurrencies. 

Min. KCS holding last 30 daysSpot trading
Maker / Taker
Futures trading
Maker / Taker
0 BTC0.1% / 0.1%0.02%/0.06%
1,000 BTC0.09% / 0.1%0.015%/0.06%
10,000 BTC0.07% / 0.09%0.01%/0.06%
20,000 BTC0.05% / 0.08%0.01%/0.05%

KuCoin Support

If you get stuck on anything, KuCoin have a few solutions where to get your answer. You can use the:

  • FAQ help centre
  • Live chat
  • Mobile app support

Online Guides

These are handy guides with content and image resources to help with any customer questions. Customers can resort to these guides for quick answers whenever they get stuck.

Sometimes we found it was hard to find the specific information we were after. So KuCoin has some improvement to make in this section.

Customer Support

The guides will only help you get so far. So if the guides do not help, customers can resort to the live chat feature on the site.

However the live chat feature is operated by a bot. The bot only funnels users to articles on the KuCoin website. So it’s a bit like going round in circles. Although the bot will prompt you to submit an email to KuCoin if you need further assistance.

As mentioned customers that are not verified do not get as much support from KuCoin. So the amount of help they can provide will depend on the issue you are experiencing.

Customer Complaints

Most importantly there are not many public complaints about KuCoin. This is good especially considering it has over 10 millions customers signed up to its platform. So even though KuCoin have a negative rating on Trustpilot the majority of customers are happy with the service.

KuCoin customer service usually get back to you within a few hours. According to feedback from other KuCoin clients they might have delays and take longer. However all in all they are pretty good and respond fairly quickly.

KuCoin Hack

In September 2020 KuCoin got hacked and thieves made off with $280 million. The KuCoin hack was large, but the exchange took immediate action to contain the situation.

Although it was bad, KuCoin handled the situation very well by taking a number of steps. They immediately advised customers about the hack. Additionally they froze all deposits and withdrawals for a week. As a result they were able to investigate and sort out any issues with the platform.

In the meantime KuCoin worked with law enforcement agencies. Chainalysis analysed the situation to help KuCoin get the funds back.

KuCoin Hacked Funds Progress Table

 Amount
Stolen$284 million
Crypto projects and exchanges recovered$222 million
Police recovered$17 million
Funds not recovered$46 million

Luckily after KuCoin collaborated with different organisations they managed to retrieve $239 million back. Unfortunately they were never able to recover the last $46 million of customer funds.

However they did reimburse their customers back in full by resorting to their insurance fund. So no KuCoin clients lost any funds as a result of the hack. Additionally they reviewed their practices and made several wide ranging changes and upgrades to their security.

So although the hack was initially a shock to KuCoin customers, KuCoin did a great job with handling the situation. As a result their reputation remained relatively intact. In fact it is partly why they are still considered one of the best exchanges worldwide.

KuCoin Review: Security

As a result of the hack KuCoin changed their practices and beefed up their security. They ended up upgrading their whole security system.

List of security features KuCoin changed

  • The network security was increased,
  • Their website security was upgraded,
  • The security on their app was increased and
  • So was the security on their API.
  • Investment in security was increased,
  • Their security team was restructured.

Apart from that KuCoin also have a bounty program for people to report vulnerabilities. Moreover a percentage of client assets are safeguarded in cold storage. These are practices that are implemented by some of the more secure crypto exchanges.

Additionally KuCoin have some security features you can activate in your account.

You should consider implementing:

  • 2-Factor Authentication (2FA),
  • Security questions,
  • Email notifications,
  • A separate trading password,
  • Restricting logins by IP address and
  • Activating the anti-phishing protections.

2-Factor Authentication

Although 2FA is great, we would definitely recommend you use Google Authenticator over mobile authentication. That is to say because it is more secure.

It is unfortunate that KuCoin has not implemented security keys. Otherwise we would recommend them over other 2FA methods. However if they do support security keys in future we definitely recommend you upgrade to using them. This is because they have a fantastic record of security with no account take overs.

KuCoin Review: History

The idea behind KuCoin came to Michael Gan and Eric Don after using Mt. Gox in 2012. Mt. Gox was difficult to use back in the early days of crypto. As a result they thought they would set up a cryptocurrency exchange themselves and make it more user friendly.   

By the end of 2013 the two developers started writing the first lines of code for the KuCoin exchange. By the 15th September 2017 the company officially launched. The company is incorporated in the Seychelles and their headquarters are in Singapore.

KuCoin Review: Conclusion

To conclude this KuCoin review we are happy to say that KuCoin is overall a great exchange. Its main drawback is that it does not support fiat. Secondly KuCoin has hidden fees when using their fast buy feature.

However KuCoin has a lot of good points that offset these negatives. It offers one of the lowest trading fees in the industry and a huge selection of altcoins. Additionally this exchange is not just great for trading. It is jam packed with features that customers are delighted with.

That includes tools for trading. However it also includes features like the trading bots and the ability to earn passive income in different ways. It has such a variety of different services it is not a surprise that it is such a popular exchange.

Over 600 cryptocurrencies
Among top 10 platforms
High volume and liquidity

KuCoin Frequently Asked Questions

What is KuCoin?

KuCoin is one of the best cryptocurrency exchanges. It is a crypto-to-crypto exchange with a large selection of cryptocurrencies to trade. Additionally it has many different tools and services which makes it a highly valued amongst existing customers.

Is KuCoin safe?

KuCoin is one of the best exchanges. They have good security which they implemented on their side. Clients can also opt to activate security features from their end. Additionally their client funds are insured just in case any funds are stolen from the exchange.

Is KuCoin available in the US?

KuCoin is not licensed to trade in the US. US citizens can still use KuCoin because they do not have KYC requirements up to a certain point. However you will have restrictions. To find out more, check out this KuCoin review and go down to the KYC section.

How to deposit into KuCoin?

KuCoin is a crypto-to-crypto exchange. The best thing to do is buy crypto elsewhere and transfer it to KuCoin to trade. However you can buy small amounts of crypto using a credit card, Google Pay or Apple Pay. You can do this using their quick buy feature.

What makes KuCoin a good exchange?

·      Huge variety of altcoins
·      Low trading fees
·      Earn crypto passive income
·      Trading bots
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