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.
- 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
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 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.
Does KuCoin Have High Fees?
KuCoin is known for its competitively low fees and offers a detailed fee schedule with a tier system and discounts for KCS holders. For deposits, the fees are as follows: Crypto deposits are free, Fast Trade deposits are charged at 0.1%, P2P deposits are free, and Third-Party deposits through Simplex, Banxa, and Btcdirect are charged at 0.3%.
When it comes to withdrawal fees, each token is subject to a small fee to cover gas. For details, visit KuCoin's withdrawal fees page and search for the token you want to withdraw. Trading fees on KuCoin are tiered, with spot trading fees starting from 0.1% as the Maker/Taker fee and offering 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 at least 80K BTC. Futures trading fees also follow a tiered system, starting from 0.02%/0.06% for Maker/Taker and getting a negative funding rate of -0.015%/0.03% for LVL 12 users who trade over 160K BTC in a month.
In summary, KuCoin provides an attractive fee structure for traders, making it a popular choice among cryptocurrency enthusiasts.
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.
Is KuCoin Safe?
KuCoin is a popular cryptocurrency exchange that has gained a reputation for being safe and reliable since its inception in 2017, which is exemplified by their Trust Score rating of 10 on CoinGecko. Based in Seychelles, the platform offers a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, and various altcoins. It is known for its user-friendly interface, low trading fees, and a variety of trading pairs.
While KuCoin has implemented robust security measures, such as two-factor authentication (2FA), encryption protocols, and operational security procedures, it is important to note that the exchange experienced a security breach in September 2020. The incident resulted in the loss of around $281 million in cryptocurrency assets. However, KuCoin acted swiftly to address the issue and has since recovered a significant portion of the stolen funds. The platform has also taken steps to enhance its security infrastructure to prevent future breaches.
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.
- 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%.
- KuCoin Earn - Users can earn yields on 58 tokens with fixed or flexible terms for APYs at 0.1% - 101%.
- Spotlight - KuCoin token launch platform where users can participate in new token subscriptions.
- KCS Bonus - KuCoin users who hold the KuCoin Token (KSC) will receive daily rewards for doing so.
- KuCoin Pool - A PoW mining pool for BTC, BCH, ETH, DCR and other public chains.
- 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.
- Cloud Mining - A remote mining model that offers KuCoin users the ability to participate in mining and maintaining the security of the main network.
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.
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.'.
Is KuCoin Regulated?
KuCoin, a Seychelles-based cryptocurrency exchange, is not regulated by any major financial authorities. Like many crypto exchanges, it operates without explicit regulatory oversight. To ensure a secure trading experience, research the platform's security measures, user reviews, and past incidents before using KuCoin for trading or investing in cryptocurrencies.
In summary, KuCoin is a popular cryptocurrency exchange known for its extensive features, low fees, and wide selection of altcoins. Despite being unregulated, the platform maintains strong security measures and provides a user-friendly experience across web and mobile platforms. With comprehensive 24/7 support, KuCoin strives to meet the needs of traders and investors. However, thorough research and assessment of its security and user reviews are crucial before engaging in trading or investing activities.