KuCoin

KuCoin Review – Introduction

KuCoin, often referred to as “The People’s Exchange,” is a global cryptocurrency trading platform that caters to a broad spectrum of users, from beginners to seasoned traders. Launched in 2017, KuCoin quickly gained popularity for its wide selection of cryptocurrencies, innovative features, and user-friendliness. Today, KuCoin boasts millions of users worldwide and supports over 800 cryptocurrencies, making it one of the most diverse exchanges in the market.

This review dives into the many aspects of KuCoin, exploring its benefits, features, security, and why it remains a top choice for crypto traders of all experience levels.

Why Use KuCoin?

KuCoin appeals to users because of its versatility and range of offerings. Whether you’re looking to trade popular coins, explore obscure altcoins, or stake crypto for passive income, KuCoin has you covered. Here are some top reasons why you might consider using KuCoin:

1. Diverse Coin Selection: KuCoin supports over 800 cryptocurrencies, providing access to both mainstream coins and niche tokens. This makes it ideal for those who want to diversify their portfolio.
2. Low Trading Fees: With a standard spot trading fee of 0.1%, KuCoin is one of the more cost-effective exchanges. Plus, you can reduce fees further by holding KCS (KuCoin Shares), the platform’s native token. Additionally, you can use Cexfinder’s referral code during signup, which comes at no downside for you.
3. Advanced Trading Tools: KuCoin offers spot trading, futures, margin trading, and a variety of order types, catering to both beginners and professional traders.
4. Earn and Staking Features: The exchange allows users to earn rewards through staking, lending, and participating in Savings program.
5. Security and Reliability: KuCoin has robust security measures, including insurance, cold wallets, and many more safety protocols.

Is KuCoin Good for Beginners?

KuCoin strikes a balance between accessibility and functionality, making it a solid choice for beginners and experienced traders alike.

1. User-Friendly Interface: The platform offers a clean and intuitive interface, with straightforward navigation and helpful tooltips to guide new users.
2. Comprehensive Tutorials and Support: KuCoin provides a wealth of educational resources, including detailed guides and a responsive support team, ensuring that newcomers can get up to speed quickly.
3. Demo Trading: Beginners can practice trading using KuCoin’s demo feature, allowing them to learn without risking real assets.
4. Fast Trade: KuCoin’s fast trade allows for very quick and frictionless purchase of crypto through bank cards or bank transfers, and seamless 1-click conversion of local currency into popular crypto assets.
5. Recurring Buys: This trading platform allows you to invest into any crypto assets at predefined schedules. For example, you can set up a weekly or bi-weekly purchases for long-term dollar cost average (DCA) investing.

However, the platform may initially feel overwhelming due to its sheer number of features. With time and a little bit of patience, even novices can become comfortable navigating KuCoin.

Fiat Deposits: Buying First Bitcoin on KuCoin

KuCoin has made it simple to buy your first Bitcoin or other cryptocurrencies using fiat currencies.

1. Supported Payment Methods: KuCoin accepts fiat deposits via bank transfers, credit/debit cards, and third-party services like Simplex and Banxa. This flexibility makes it easy for users worldwide to fund their accounts. Vibrant P2P marketplace also lets you choose from dozens of alternative payment methods.
2. Quick and Easy Setup: After completing basic identity verification (KYC), you can deposit fiat and purchase Bitcoin through the “Buy Crypto” section. The process is quick, with funds often available within minutes.
3. Competitive Exchange Rates: KuCoin offers competitive exchange rates when buying crypto, ensuring you get value for your money.

Crypto deposits to KuCoin are free of fees. Depositing fiat (local currency) has certain fees associated, but they depend on each individual payment method and local currency used. KuCoin has very fair and overall low deposit fees.

It’s always best to choose KuCoin’s direct methods to purchase crypto as they have lowest fees. You can also use Revolut or Apple Pay for lower fees. Choosing third-party payment methods such as Simplex or Banxa can have extra costs, but it does also provide you with additional payment options.

Overall, KuCoin provides one of the best first time crypto buy experiences through its easy to learn interface. Plus, there are sufficient payment methods to satisfy most investors, along with cheap fees.

Fiat Withdrawals: Withdrawing Money From KuCoin

Withdrawing fiat from KuCoin is just as straightforward as depositing.

1. Supported Currencies: KuCoin supports withdrawals in multiple fiat currencies, making it a convenient option for global users. US Dollar, Euro, BRL, TRY and a few other popular currencies are supported.
2. Simple Process: Navigate to the “Withdraw” section in your Wallet, select your preferred currency, and input your bank details. Withdrawals are processed quickly, though processing times can vary depending on your bank.
3. Low Fees: KuCoin charges minimal fees for fiat withdrawals, which is a major advantage for those frequently converting crypto to cash.

Is KuCoin Good for Trading Crypto and Altcoins?

KuCoin is renowned for its trading capabilities, particularly for altcoins and lesser-known cryptocurrencies.

1. Wide Variety of Trading Pairs: With more than 800 altcoins and over 1,300 trading pairs, KuCoin provides excellent variety for those looking to trade altcoins.
2. Advanced Features for Pro Traders: KuCoin supports margin trading with up to 10X leverage options, as well as futures trading with up to 125X leverage for those looking to hedge or speculate. Its trading platform also includes advanced charting tools powered by TradingView.
3. High Liquidity: KuCoin’s large user base ensures high liquidity for most trading pairs, reducing slippage and improving trade execution.
4. Competitive Trading Fees: At just 0.1% for spot trading, KuCoin’s fees are among the lowest in the industry. Discounts for KCS holders or using a referral code make trading even cheaper.
5. Trading Bots: Spot or Futures Grid, Spot Martingale, Smart Rebalance, Infinity Grid, and DCA trading bots are available for free to all users. These trading bots provide automated trading options for advanced users.
6. Subaccounts: You can easily create subaccounts on KuCoin, thus isolating your assets. This can be helpful if you are engaged in high-risk trading, or wish for easier tracking of profits and losses.

KuCoin has a very pleasant and customizable trading interface. In our years of using the exchange we didn’t encounter any issues whatsoever with executing trading orders. A comprehensive learning section with video tutorials and guides is always a click or two away in case you need assistance.

Because of the large user base, liquidity and trading volume are high on KuCoin. Altcoin selection is excellent, with all popular assets listed. KuCoin is perhaps the best crypto exchange to find many low-cap altcoin gems for those who wish for riskier but more profitable investments.

Fees for spot trading are set to 0.1% for all order types. On most exchanges, spot maker fees are 0.1%, with taker fees at 0.2%. This makes KuCoin either equal to or cheaper compared to other top tier exchanges.

Futures trading fees are 0.02% for maker, or 0.06% for taker. This is also in line with other trading platforms. Keep in mind you can hold KCS (KuCoin’s native token) or achieve certain volume thresholds and get VIP status, which can reduce your fees. Alternatively, you can also pay for spot fees using KCS, which results in a 20% fee discount (0.01% reduced to 0.08%).

In addition, using Cexfinder’s signup link or referral code gives you an additional and permanent 10% trading fee discount, and it comes at absolutely no drawbacks or requirements for you. This rebate stacks with other bonuses, so consider taking advantage of that if you plan on doing regular trading.

Best KuCoin Features

KuCoin sets itself apart with a host of innovative features, many of which cater to both active traders and passive earners.

Easy and Cheap Fiat Deposits and Withdrawals

KuCoin supports multiple fiat currencies and offers low fees for deposits and withdrawals. The process is seamless, enabling users to get started or cash out quickly. This is one of the best exchanges for first time investors, but also an advanced trading platform for experienced traders.

KuCard – Debit Spending VISA Card

Aside from withdrawals to traditional banks or payment methods, KuCard is a standard physical VISA card accepted at millions of regular merchants worldwide. The KuCard can be the easiest option to use your crypto balances without any friction, and you can even bind it with Google Pay or Apple Pay.

Using KuCard is not only cheap, but it also comes with cashback rewards and other benefits such as vouchers, gift cards, and discounts with certain merchants. The only drawback to this VISA card are regional restrictions, so make sure to visit KuCoin’s website to learn if it is available in your country.

Low Trading Fees

KuCoin’s trading fees are among the most competitive. Despite its popularity and safety, you will not see this exchange charge any premiums for their service. The additional discounts for KCS holders make it even better for frequent traders, and our 10% permanent fee discount can also lead to significant savings over time. More about KuCoin fees.

Staking, Earn & Passive Income Opportunities

KuCoin’s Earn section lets you stake crypto or participate in lending to earn interest. Flexible staking is also available, meaning you can un-stake and use your funds at any time, and meanwhile accrue interest simply by holding coins on the exchange.

In addition to staking, KuCoin lets you invest in Shark Fin, Snowball, Lending, and other financial investment products which can increase your portfolio size varying degrees of risk.

Airdrops

Holding certain tokens on KuCoin can qualify you for airdrops. The exchange regularly distributes new tokens to eligible users, adding extra value to your holdings. By participating in “GemSlot”, you can complete easy tasks to earn free crypto tokens almost every day.

You can also stake USDT, KCS or other tokens in “GemPool”, KuCoin’s name for Launchpool, giving you additional rewards. You can check our Promotions category to view an archive of launchpools and other promotional events, and you will notice KuCoin runs them regularly.

Trading Bots

Best trading bot for beginner investors is the DCA (dollar-cost average) bot. This is incredibly easy to set up, and lets you invest a set amount of funds every day, week, or choose other intervals. DCA bot paired with KuCoin’s Recurring Buy feature can be a powerful investment tool.

Other trading bots include Spot and Futures Grid, Spot Martingale, Smart Rebalance, and Infinity Grid. These are aimed at more advanced traders. Each one comes with comprehensive tutorials, making it easy to learn how to use them. Needless to say, KuCoin provides all these bots free of charge.

Signup Bonuses

KuCoin has over $8,000 available through Rewards Hub as signup or new user bonuses. You can claim USDT coupons, fee deduction coupons, and more USDT or other rewards through completing deposit, trading or other tasks. Also, you can refer your friends to get additional bonuses.

You likely won’t be able to claim all the bonuses that are available, but even if you claim some of them the benefits can be significant. You’ll be able to claim signup rewards plus get a permanent account-wide 10% trading fee discount just by using our special signup link, so don’t miss these benefits.

Is KuCoin a Safe Exchange?

Safety is a top priority for KuCoin, and the exchange employs several layers of protection to secure user assets and data.

Regulatory Compliance

While KuCoin operates globally, it has taken steps to comply with local regulations in various jurisdictions. This includes implementing KYC procedures and adhering to anti-money laundering (AML) standards.

As part of its compliance with laws, KuCoin does restrict traders from United States, China, Hong Kong, Singapore, and few other countries. See full list of KuCoin’s restricted countries. In addition, KuCoin enforces mandatory identity verification for all accounts (KYC).

As for regulatory approvals, KuCoin is lacking compared to some of the industry’s leading exchanges. However, it has regulatory approvals or registrations in several countries such as Malta and Cayman Islands, and most recently in India. In October 2024, KuCoin even left Dutch market, showcasing its commitment to compliance.

Asset Safety

KuCoin stores most customer assets in cold wallets, minimizing exposure to online threats. There is a massive amount of security features and measures in place, all of which are outlined on their comprehensive Security page. Overall, this is one of the most impressive set of security and safety protections we’ve seen so far.

Additionally, the exchange has an insurance fund to compensate users in case of a breach. Regular Proof of Reserves reports are being published, and all have shown the platform has all customer assets safely stored and accounted for. The exchange also has a bug bounty program in place, meaning any potential security breaches are likely to be reported and fixed rather than exploited.

As for previous incidents, KuCoin has had a large hack back in 2020. Over $250 million has been stolen by North Korean Lazarus group, but most of these funds lost in the hack were later recovered. In the end, no user lost a penny and KuCoin compensated losses with their own funds. This is an exchange that puts its users first, implemented many additional security protocols in place after the hack, and hasn’t had an incident since.

User Account Security

Users can secure their accounts with two-factor authentication (2FA) codes, trading passwords, and even enable IP restrictions. Using 2FA is mandatory and highly recommended. Trading password will ensure nobody can trade with your funds without a special PIN, adding an additional layer of protection for your assets.

Email, login and withdrawal anti-phishing codes are also available and quick to set up. Using these anti-phishing codes will ensure you can easily verify any communication is coming from official channels.

You will be notified about every account login. In case you notice any suspicious login or withdrawal attempts, KuCoin lets you immediately place a freeze on your account to temporarily prevent any trades and withdrawals.

Lastly, KuCoin also lets you save withdrawal addresses for easier and quicker withdrawals. Any withdraw attempts to other addresses will require additional confirmation. All these features ensure robust protection against unauthorized access.

FAQs:

If you have more questions, don’t hesitate to contact our team to get answers from exchange experts!

Final Verdict: Is KuCoin a Good Exchange?

KuCoin is undeniably one of the most versatile and user-friendly crypto exchanges in the market. Its vast selection of coins, low fees, and innovative features make it a go-to platform for both beginners and experienced traders.

Whether you’re looking to buy first Bitcoin, trade altcoins, stake for passive income, or explore the latest blockchain projects, KuCoin has something for everyone. While the platform could enhance its fiat support and regulatory approvals in certain regions, its overall strengths far outweigh these minor drawbacks.

Features Score: 87 / 100

4.4

Total Rating: Excellent

KuCoin at a glance:

• KuCoin was launched in 2017, and services over 40 million users worldwide.
• Easy bank transfer and credit/debit card deposits are available in multiple currencies.
• Fiat withdrawals to bank accounts and other payment methods are available (and cheap).
• Exchange suffered from a larger hack back in 2020, but no customers lost any money.
• Very robust security and safety measures are now in place to prevent hacks or loss of funds.
• KuCoin is one of the largest and most popular exchanges and there is no evidence it’s a scam, fraudulent platform, or misusing customer funds.
• Plenty of beginner-friendly features make it an excellent platform for new investors.
• Experienced traders can benefit from margin trading, futures trading, trading bots and more.
• Good staking yields provide additional passive income with no effort.
• Large selection of popular altcoins and hidden gems to invest in.
• Average to cheap fees, depending on your trading volume, or if you use native token or referral code discount.
• Comprehensive tutorials, guides and help center, with live 24/7 support available.

In conclusion, KuCoin’s dedication to innovation, security, and user satisfaction cements its reputation as a top-tier cryptocurrency exchange. If you’re ready to invest into crypto, KuCoin is a reliable and safe place to start.