KuCoin Review

KuCoin Review

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January 5, 2023
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Summary: KuCoin is widely regarded as 'Home of the Altcoins' because it is always the first centralized exchange to offer the latest coins across DeFi, NFTs, the Metaverse and other sectors.

In this KuCoin review, we help users get a deeper understanding of their platform by taking a close look at their fees, features, assets, security and support options.

Table of Contents

KuCoin Review Highlights

Platform Highlights

  • Trade 500+ Cryptos with 0.1% Fees with up to 100x leverage
  • Crypto Staking, IDO Launchpad, NFT Marketplace and other features
  • A native DeFi ecosystem and blockchain for high yields called KuCoin Chain
KuCoin Review
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Audited Proof of Reserves
Audited Proof of Reserves

What is KuCoin and KCS?

KuCoin is a Seychelles-based centralized cryptocurrency exchange that was founded in 2017. It has an impressive 20M+ registered users and is popular for investors in Asia as you don't need to verify your identity to use the platform. KuCoin is widely regarded as one of the best crypto exchanges and is currently ranked number 5 in the world on CoinMarketCap.

KCS (KuCoin Token) is the native utility token of the KuCoin exchange and is a profit-sharing crypto that allows traders to extract value from the platform. Initially there was a supply of 200M but its final supply after buybacks and its burn mechanism is planned to be 100M.

KuCoin Home Page.
KuCoin Home Page.

KuCoin Features and Assets

One of the main reasons for KuCoins popularity is the myriad of features it offers. On KuCoin you have access to 10 different trading features, seven different staking options, and more. Refer to the list below for all the available features on Kucoin.

  • Instant Buy Crypto - Buy Crypto instantly via Fast Trade (70+ supported payment methods like VISA, Mastercard & PayPal) and third party options like Banxa, Simplex & BTC Direct.
  • P2P (Peer-to-peer) Marketplace - Buy and sell 5 tokens (USDT, ETH, BTC, KCS & USDC) directly from other KuCoin users for a negotiated pre-discussed rate.
  • Spot & Margin Trading - Buy and sell over a thousand crypto pairs via spot and margin trading.
  • Convert (Swap) Crypto - Instantly swap crypto-to-crypto between 27 tokens.
  • Futures Trading - Trade futures with three different types - Futures Classic (100x leverage), Futures Lite (simple version of classic) and Futures Brawl (Go long or short to win battles).
  • Leveraged Tokens - Futures with increased leverage, no liquidation and no loans.
  • 7 Staking Options - Single-sided and double-sided staking on many cryptocurrencies. Refer to the staking paragraph for more details.
  • Wonderland - KuCoins NFT marketplace and NFT launch platform for multiple projects.
  • Rewards Hub - Extensive list of rewards and tasks to complete every week for free crypto coupons and prizes.

In addition to all the above-mentioned features, KuCoin offers over 700 supported cryptocurrencies.

KuCoin Fast Trade Page.
KuCoin Fast Trade Page.

Does KuCoin have high fees?

No, KuCoin has competitively low fees and a detailed fees schedule with a tier system and discounts for KCS holders. Refer to the list below for a breakdown of KuCoins fees.

Deposit Fees

  • Crypto - Free
  • Fast Trade - 0.1%
  • P2P - Free
  • Third-Party (Simplex, Banxa & Btcdirect) - 0.3%

Withdrawal Fees

  • Crypto - All tokens are subject to a small fee to cover gas, for details visit KuCoins withdrawal fees and search for the token you want to withdraw.

Trading Fees

  • Spot - Tiering system starts from 0.1% as the Maker/Taker fee and offers a negative funding rate of -0.005%/0.025% for the highest tier (LVL 12) users. To receive the lowest rate you will need to trade atleast 80K BTC.
  • Futures - Tiering system starts from 0.02%/0.06% for Maker/Taker and gets a negative funding rate of -0.015%/0.03% for LVL12 users who trade over 160K BTC in a month.

KCS Fee Discount

The Kucoin exchange offers a feature that gives any user that uses KSC (KuCoin Token) to pay for the underlying asset a further 20% discount off their spot trading fees. This discount applies to all tiers including level 12 users.

KuCoin Fees Schedule.
KuCoin Fees Schedule.

Is KuCoin a safe and reliable exchange

Kucoin offers security features like multi-factor authentication, cold wallet storage and encryption, it also requires users to create a separate password for trading. It's enforced to ensure that users assets cannot be accessed even if your main account is compromised. Users need their password in order to make trades or withdraw assets.

KuCoin was has an impressive Trust Score rating of 10 on CoinGecko.

What crypto can you stake on KuCoin

KuCoin offers seven cryptocurrency earn options on over 100 tokens. Refer to the list below of available staking/earn options and what tokens are supported in each category.

  1. Crypto Lending - Users can stake or 'lend' 188 tokens for fixed periods of 7, 14 and 28 days with daily interest rates of 0% - 0.2%.
  2. KuCoin Earn - Users can earn yields on 58 tokens with fixed or flexible terms for APYs at 0.1% - 101%.
  3. Spotlight - KuCoin token launch platform where users can participate in new token subscriptions.
  4. KCS Bonus - KuCoin users who hold the KuCoin Token (KSC) will receive daily rewards for doing so.
  5. KuCoin Pool - A PoW mining pool for BTC, BCH, ETH, DCR and other public chains.
  6. KuCoin Win - A lottery type feature that allows users to use their dust (leftover, small funds) to buy a lottery ticket. The lottery ticket gives users the opportunity to win token coupons.
  7. Cloud Mining - A remote mining model that offers KuCoin users the ability to participate in mining and maintaining the security of the main network.
KuCoin Earn Page.
KuCoin Earn Page.

Can I contact support 24/7 on KuCoin?

Yes, KuCoin offers multiple methods of live support including its Live Chat feature, email, multiple online communities and its ticketing system. KuCoin can be contacted through the following links - Live Chat, Submit a Ticket, Facebook, Twitter, Instagram, Telegram, YouTube, Medium, Reddit, LinkedIn and VK.

KuCoin also offers support in multiple languages across Facebook, Reddit and Telegram. You can find support 23 languages - English, Turkish, Spanish, Croatian, Vietnamese, Russian, Italian, Indian and more.

KuCoin Help Centre & Live Chat feature.
KuCoin Help Centre & Live Chat feature.

Mobile App

The KuCoin app is supported on both iOS and Android devices. For Apple users, the app is available on iPad and iPhone. On the Google Play store the KuCoin app has a rating of 4.4 stars from 107K reviews. And on the Apple app store it has an impressive rating of 4.6 stars from 16K reviews and is ranked #126 overall in the Finance category.

The KuCoin app offers all the same features as the web version of KuCoin. Reviews from Forbes read 'Heavy hitter when it comes to the sheer amount of coins available, KuCoin provides access to a wide library of altcoins at low fees.' and CoinMarketCap said 'KuCoin is a top 5 spot exchange in terms of overall performance.'.

KuCoin iPhone App Screenshot
KuCoin iPhone App Screenshot.

Is KuCoin Regulated?

KuCoin is headquartered in Seychelles, which means it is not regulated by major financial  authorities, such as the U.S. Securities and Exchange Commission (SEC). However, KuCoin is compliant with local regulations to operate in certain regions.

In addition, KuCoin adheres to Know Your Customer (KYC) requirements for all users, including those from the United States. The platform also requires traders to complete a Leve 1 and Level 2 KYC process for deposits and withdrawals, respectively. For added security, KuCoin offers a two-factor authentication (2FA) feature to secure user accounts.

Final Thoughts

Overall, KuCoin is one of the best crypto exchanges to start investing and trading hundreds of different digital assets with no KYC or verification. Their platform also offers a wide variety of crypto-native products with include crypto staking, a native DeFi ecosystem called KuCoin Chain, an NFT Marketplace and much more.

The KuCoin exchange is also widely regarded as one of the best platforms for no-KYC futures contracts trading, offering users up to 100x leverage to trade over 120 different large cap tokens. One key downside to KuCoin is that they have been hacked and have had data breaches in the past, so make sure not to keep a large amount of funds on the platform.

Adrian Graham

Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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