Kucoin is a cryptocurrency exchange platform that offers hundreds of coins to buy and sell. The company has a well-deserved reputation for offering low trading fees, with some of the best prices in the industry.
If you are looking to open an account on KuCoin to trade cryptocurrencies, read our KuCoin crypto exchange review first. We will show you everything you need to consider, such as the type of account they offer, their fees, and the supported coins, among other factors.
What is KuCoin Crypto Exchange Review?
Kucoin was founded in 2017 but has quickly risen to become one of the most used cryptocurrency exchanges. The platform lists a staggering number of digital currencies, including Bitcoin and Ethereum. It is also home to many ERC-20 tokens.
The Kucoin exchange has also issued its own cryptocurrency token, known as Kucoin Shares. Holding the token entitles you to a portion of the platform’s profits in the form of dividends. These revenues are earned when people trade using the platform.
If you are interested then click here to learn how to buy KuCoin Share (KCS).
Kucoin offers relatively low fees for trading many digital currencies. You don't buy coins from Kucoin; you trade them with other people via Kucoin's platform. The platform makes money by charging fees to traders.
What CryptoCurrencies Does KuCoin Support?
One of the major benefits Kucoin offers its users is a large number of cryptocurrencies and tokens it supports. This not only includes established cryptocurrencies like Bitcoin, Bitcoin Cash, and Ethereum—but also a huge number of obscure coins you might never have heard of before.
The exchange supports more than 300 cryptocurrencies and tokens from BTC, ETH, USDT, Monero, Dash, and many more.
If you’re either a U.S. resident or a U.S. citizen living overseas, then you’ll need to use a U.S.-friendly platform like Coinbase.
KuCoin Payment Methods and Fees
The KuCoin exchange is exclusively cryptocurrency-based. You can fund your account using cryptocurrency, but you cannot deposit or withdraw using fiat currencies, debit/credit cards, bank accounts, or e-wallets.
Trading fees
Kucoin offers a 0.1% fee to both buyers and sellers on its platform, making it one of the cheapest exchanges to trade coins on.
If you own the platform’s native KCS token, you can reduce transaction fees further. If you hold enough KCS, the minimum fee is 0.0125% and 0.03% if you take or place an order, respectively.
How to Sign Up and Trade on KuCoin?
If you decide to open an account with Kucoin, please keep in mind that it isn’t a regulated exchange and that it doesn’t support fiat currency deposits. We recommend that you take some time to familiarize yourself with the platform before depositing any money.
- Open an Account on KuCoin by Signing Up.
- Deposit Funds: You need to deposit some funds into your Kucoin account. To do this, click on ‘ASSETS’ at the top right-hand side of the screen, then click on ‘DEPOSIT’.
- Trade Crypto: You can begin trading by clicking on the ‘EXCHANGE’ button at the top of the screen. Once you have completed all of the relevant steps above, click on the green ‘BUY’ or ‘SELL’ button to execute your trade.
Is KuCoin Safe?
As we mentioned above, Kucoin is not regulated, and thus, they are not a safe cryptocurrency exchange. However, the platform does have some security features in place to help keep your money secure.
- Two-factor authentication (compulsory)
- Separate trading password
- Email confirmation on the log in
- Internal risk control team
- Encrypted client data
KuCoin Pros and Cons
This cryptocurrency exchange is a good fit for: Experienced non-U.S. cryptocurrency traders who want access to more coins and advanced features.
Pros:
- One of the largest lists of supported cryptocurrencies
- Ultra-low trading fees
- No hacks to date
- Earn interest in your crypto
- Good trading volumes and liquidity levels
Cons:
- Not licensed in the U.S.
- Limited payment methods
- Not regulated
- The trading interface is not suitable for newbies
- No offline wallet offered
Conclusion
We can’t recommend KuCoin. The main reasons for this are that the platform operates in a non-regulated manner, you can’t deposit or withdraw funds with real-world money, and they only offer crypto-to-crypto payments. We instead recommend Coinbase, who on top of holding two regulatory licenses, allows you to deposit funds with debit/credit cards and e-wallets and also allows you to short cryptocurrencies.
