KuCoin is a secure and popular cryptocurrency exchange for trading and investing in crypto with millions of users and hundreds of trading pairs.
The exchange offers both new and experienced users an easy and quick way to start trading and investing in crypto.
Some of the exchange’s core strengths include but are not limited to:
- High trading volume and liquidity.
- Offers very low and competitive trading fees.
- Perfectly suitable for both beginner and advanced traders.
- Multiple trading and investment solutions.
- Highly secure with excellent, 24/7 support service.
- Multi-chain support. KuCoin currently supports Binance Smart Chain and WAX.
- Advanced charting functionalities and API integrations with exclusive privileges for professional and institutional traders/investors.
- Fiat on-ramp using credit/debit cards, peer-to-peer (P2P) trading, and instant crypto purchases PayPal and other third-party payment channels.
- Highly efficient trading engine. KuCoin is able to process millions of transactions per second. Trading outages during peak periods are rare with KuCoin, unlike the likes of Coinbase.
- Highly competent and committed team.
- Works well on all devices.
- Optional KYC requirements
The exchange has been hacked only once, leading to a loss of $281 million of users funds.
And the affected users were reimbursed completely from KuCoin’s insurance fund.
What is KuCoin?
Popular known as “The People’s Exchange” KuCoin is a major cryptocurrency exchange launched on September 15, 2017, with headquarter in Singapore.
As a global cryptocurrency exchange, KuCoin has offices in China, Thailand, the Philippines, Bulgaria.
And soon, in emerging markets like Vietnam, India, and Indonesia.
KuCoin currently serves over 8 million crypto traders and investors from 100+ countries. And it claims that “1 out of every 4 cryptocurrency holder worldwide uses KuCoin”.
The exchange is backed by established institutional investors like IDG Capital, Matrix Partners, Neo Global Capital, and LFG Global.
Our mission is to facilitate the global free flow of digital value ~KuCoin.
The exchange has its own native cryptocurrency called KuCoin Token (KCS) which rewards holders with a daily bonus.
The KuCoin Team
The KuCoin Exchange is a part of the KuGroup trilogy which consists of:
- KuCoin Global (the exchange)
- KuCloud (the Whitelabel cryptocurrency exchange solution)
- KuChain (the public blockchain network and KCS ecosystem)
KuCoin founder, Michael Gan serves as the Chairman of KuGroup with co-founder Johnny Lyu taking over the role of KuCoin Global CEO.
Prior to starting the KuCoin Exchange Gan was a member of the Ant Financial of Alibaba Group; a veteran of financial solutions; and a senior partner of Internet giants like MikeCRM, KF5.COM, etc.
Johnny Lhu on the other hand is a co-founder of KuCoin, Pool-X, and head of KuCloud.
Johnny has been integral in the development of KuCoin’s crypto infrastructure and corporate solutions such as the KuCoin Soft Staking service, Pool-X, and Spotlight.
Other prominent members of the team and co-founders include Jack Zhu (VP) of KuCoin Global, Eric Don (COO) and Top Lan (CTO).
The KuCoin team has been at the forefront of innovation in DeFi and blockchain technology over the few years they’ve been in existence.
More so, they have demonstrated a high level of competence and unquestionable commitment to the safety of users funds.
However, that does not mean they do not have their fair share of criticisms and internal issues, especially regarding their management structure and office locations.
KuCoin Review: How to get started with KuCoin
The first step to doing anything on KuCoin is to create an account and it’s free.
Once registered you can deposit any crypto and start trading immediately.
However, to buy crypto with fiat or enjoy higher withdrawal limits (above 2 BTC) and other advanced features, you will be required to verify your identity in line with international KYC (know your customer) and AML (anti-money laundering) laws.
If you’re already a registered member, you can simply log in to access the various products and services of the platform.
KuCoin Review: Core products and features
KuCoin offers a wide range of cryptocurrency trading and investment solutions such as:
- Spot trading market with hundreds of coins and trading pairs.
- Margin trading market with up to 10x leverage.
- Contracts (futures) trading market with up to 100x leverage.
- Peer-to-peer (P2P) trading market.
- Free bot trading strategies to help you grow your money on auto-pilot.
- Crypto lending and staking to put your coins to work and grow your money passively.
- Spotlight (Launchpad) program for new cryptocurrency projects to quickly raise money and get listed on KuCoin.
1. KuCoin spot trading market
KuCoin is one of the top 10 cryptocurrency exchanges in the world (by trading volume) with over 360 coins listed and 737 trading pairs on the spot market.
The exchange boast over $1.6 billion daily trading volume which is growing rapidly with the market.
To access the KuCoin spot trading market, login to your KuCoin account and click Trade, then select Spot Trading from the drop-down list.
This will launch the KuCoin spot trading market with all the functionalities you’ll expect from an advanced crypto trading exchange.
Spot trading functionalities
Some of the cool features and functionalities you’ll find here include:
- Advanced trading charts and charting tools.
- Ability to open multiple trading tabs (pairs) and switch between them easily.
- 4 different order types (limit, market, spot limit, and stop market orders) to manage your risk accordingly.
KuCoin spot trading fees
The KuCoin spot trading fee is structured from level 0 (L0) to level 12 (L12) and is based on your trading volume and the amount of KCS (KuCoin Token) you hold.
Starting from the basic fee rate of 0.1% for both makers and takers at L0 all the way down to -0.005% to 0.025% for Maker and Taker at L12.
2. KuCoin margin trading market
KuCoin margin trading enables users to borrow up to 9 times the amount of their account size to trade with.
So, if you have $1,000 in your margin account, you can borrow up to $9,000.
Thus giving you the opportunity to maximise your potential profit while risking only the amount you’re willing to lose (i.e your margin).
3. KuCoin futures trading market
If you’re a professional trader who knows what you’re doing, there’s a lot more money to made with KuCoin cryptocurrency futures (contracts) trading.
KuCoin futures offers full trading tools for professional traders with up to 100x leverage.
The launch the KuCoin futures market, login to your account click on Derivatives from the main menu, then select either Futures Lite or Futures Pro options from the drop-down.
The main difference between the two options being that the Lite version comes with limited features and functionalities. And it’s best suited for beginners.
While the Pro version of the website comes with all the advanced tools professional traders need for their trades.
KuCoin futures offers both perpetual USDT-margined and coin-margined contracts with lots of trading pairs available to choose from.
KuCoin futures trading fees
KuCoin futures trading fees range from 0.02% for Maker and 0.06% for taker all the way down to -0.015% for the maker and 0.03% for taker depending on your level in the fee structure as shown below.
4. KuCoin peer-to-peer (P2P) trading
The KuCoin P2P marketplace is a platform to buy and sell crypto directly with other users with zero fees.
As of the time of writing this article, 5 different cryptocurrencies (USDT, BTC, ETH, KCS, USDC) can be bought or sold on the KuCoin P2P marketplace.
And payments can be made using PayPal or any of the 19 national currencies supported on the platform such as USD, CAD, AUD, NGN, CNY, BDT…, and other third-party payment channels.
5. KuCoin bot trading strategies
KuCoin offers its users free bot trading strategies that can help you make some money without having to monitor the market 24/7.
Currently, KuCoin provides 6 different bot trading strategies:
- Classic Grid: A simple sell high and buy low strategy bot.
- DCA: Regularly purchase your favourite crypto for you. Best used in a bull market.
- Futures Grid: Enters long and short positions for you to profit from the market volatility.
- Margin Grid: Trades the KuCoin margin market for you.
- Infinity Grid: Set your price boundary and let this bot trade for you within this limit to manage risk accordingly.
- Dynamic Rebalancing: Dynamically rebalances your portfolio positions with a view for long term profitability
6. KuCoin crypto lending
The KuCoin margin trading market supports users lending out their assets to earn up to 12% -300% annualised profit.
How to lend your crypto on KuCoin
Step 1:
To lend your asset first you need to move it into your trading account.
Step 2:
Click on Finance from the main menu, and then click Crypto Lending from the drop-down.
Step 3:
Select the asset you want to lend such as USDT, BTC, ETH, EOS, LTC, XRP, ADA, ATOM, etc.
Step 4:
Fill in the loan amount and your preferred daily interest rate. Suggested rates are given but you can choose a different rate to lend your coin.
Pick the number of days you want to lend your assets (7, days, 14 days, or 28 days).
Then hit the Lend button.
That’s all.
Your order will be listed among the open orders waiting to be filled by an interested borrower.
You’ll be able to see your lending interest from your main account after a borrower has taken your loan offer.
7. KuCoin (soft) staking
KuCoin was the first to introduce soft staking where all you have to do is hold supported cryptocurrencies in your KuCoin account and earn daily staking rewards.
The exchange now has a dedicated staking and mining platform called Pool-X where you can freely choose between time-limited, flexible staking and fixed staking products.
Supported cryptocurrencies for staking on Pool-X include but certainly not limited to HYDRA, DFI, OLT, ONE, DOT, KSCM, DYP, DFI, ZIL-gZIL, etc.
8. KuCoin Spotlight program
The KuCoin Spotlight program is an initiative to help new and upcoming cryptocurrency projects to easily and quickly raise money via a public token sale and also get listed on KuCoin.
KuCoin’s Spotlight Program aims to assist blockchain projects in attracting market attention, improving industrial influence and raising the needed funds ~KuCoin.
The Spotlight program has turned KuCoin into a place to discover new and exciting low-cap projects (gems) to invest in.
As of today, about 13 different projects have been launched via KuCoin Spotlight and still counting.
The KuCoin Token (KCS)
KuCoin Token (KCS) is the native cryptocurrency that powers the entire KuCoin cryptocurrency and blockchain ecosystem.
It is an Ethereum-based ERC20 token with a maximum supply of 200 million and a quarterly burn programme that aims to bring the supply down to 100 million with time.
Holders of the token earn a daily bonus paid from the revenue generated from trading fees on the exchange.
To qualify for the daily bonus, one must hold at least 10 KCS in their KuCoin exchange account.
KCS use cases
What can you do with your KCS?
- Earn daily bonus: KuCoin will use 50% of all trading fees generated daily to buy KCS from the market and distribute it among KCS holders.
- Enjoy discounted (VIP) fee Rates and rebates: KCS holders can enjoy discounted trading fee rates.
- Get a loan using KCS on EthLend
- Transfer KCS to anyone in a chat on ADAMANT Messenger
- Cash-out KCS to pay private expenses on AavePay App
- Use KCS to play online games & buy KCS from 22,000 vendors in Indonesia on PlayGame
- Use KCS to shop online without any extra fees using SwirlPay
- Set up your store (both online and offline) to accept KCS from your customers using CoinPayments
- Take your KCS wherever you go. Get a KCS cold storage card from Whopper
- Use KCS in offline stores globally using the Pundi-X POS system.
KuCoin Review: Frequently asked questions (FAQs)
Can I trust KuCoin?
Yes. KuCoin can be trusted.
Prior to the KuCoin hack of 2021, one could not confidently give a direct yes or no answer to this question.
However, with the prompt actions taken to recover the over $280 million that was lost and the subsequent reimbursement of all affected users, KuCoin has earned itself a solid reputation and trust of the crypto community.
Is KuCoin better than Binance?
The KuCoin trading interface is more beginner-friendly than that of Binance.
More so, KuCoin has a better support service than Binance or any other major cryptocurrency exchange for that matter.
However, Binance is the largest cryptocurrency exchange in the world by trading volume.
It’s equally more capitalized, better funded, and has a more developed and larger ecosystem than KuCoin.
Whereas there are more trading pairs on Binance, KuCoin has the largest collections of altcoins.
So, it depends on what is really important to you.
If you’re a beginner, it’s best to start with KuCoin and then go to Binance for anything KuCoin does not have.
And if you’re a dep-pocket trader or investor, you may be getting better deals on Binance than KuCoin due to the liquidity gap.
KuCoin Review summary and conclusion
KuCoin is one of the top 10 cryptocurrency exchanges in the world. And for many reasons, the exchange remains our favourite trading platform:
- First KuCoin is extremely secure and the team is committed to the safety of users funds. The hack they suffered the last time was mostly attributed to human rather than system breach.
- KuCoin has a clean user interface that comes in both Pro and Lite versions for professionals and newbies alike. Plus you can enjoy all KuCoin products from a single account.
- The KuCoin support system is second to know from my experience. Prompt and professional response and speedy resolution of issues have been their hallmark since 2017 that I have been using this exchange.
- Every trader would love to keep as much of their trading profits as possible and that’s one more reason I love KuCoin. The Exchange fees are about 40% below the industry average. And in some cases, you’re paid to trade as previously seen in their fee structure.
- KuCoin offers its 8 million+ users multiple ways to preserve and grow their wealth passively starting from day one. From the daily KCS bonus programme to staking, lending, and participating in Spotlight sales.
The KuCoin ecosystem is one of the fastest-growing with new and innovative projects being developed and released regularly.
One of such that we are expecting is KuCoin Community Chain (KCC). Which is supposed, KuCoin’s own native blockchain with smart contracts capability just like BSC.
When this becomes operational you can expect good things to happen to KCS as witnessed with BNB when BSC kicked off in late 2020.
What’s been your experience with the KuCoin exchange so far? Share with us in the comments section below.