KuCoin is a cryptocurrency exchange that offers crypto trading services, including spot and derivatives trading, to about 20 million customers in 200+ countries. It was founded in 2017 by Chun Gan, Ke Tang, Michael Gan, and Johnny Lyu, who is the current CEO.
KuCoin is the seventh-largest crypto exchange by trading volume and is popularly known as the people’s exchange. Besides being among the top exchanges, they recently launched KuCoin Pay, a point-of-sale (PoS) system that allows users to make payments directly from their exchange balances.
In this KuCoin review, we will provide answers to some essential questions about the exchange, like What is KuCoin? What are KuCoin features? What are Kucoin fees? And Is KuCoin safe and legit? We will also show you a straightforward process on how to trade on KuCoin.
What Is KuCoin?
KuCoin is a cryptocurrency exchange popular among traders because it lists new and lesser-known coins early, even before they hit the mainstream. Users who want to catch crypto assets while they are hot and gain massive returns through these tokens can do that via KuCoin.
However, the price of recently listed coins and tokens fluctuate heavily within the first few hours. So, it is advisable to wait a few hours for the market to stabilize before buying or investing in newly listed tokens. Let’s look at the basic information about KuCoin Crypto Exchange from a glance.
ExchangeKuCoinFounded 2017Founder Johnny LyuFeaturesSpot trading
Copy trading
Asset and wealth management services
Fast trade
Supported CryptocurrenciesOver 750 and 1300 trading pairs.User Base30 million users worldwide.Security Measures Multi-factor authentication, proof of reserves, risk control system, cold storage, and advanced encryption.Customer Support 24/7 customer service is available via email and live chat.Trading Fees 0.10% – 0.30%Trading Options Spot, Futures, Options, MarginPayment MethodsMultiple options, including bank transfer, credit cards, crypto, and SEPA bank transfers.Geographic Restrictions Not available in the United States, UK, Mainland China, Singapore, Iran, and North Korea.
What are the pros of KuCoin?
The pros of Kucoin are:
- Competitive fees
- Strong security measures
- Over 700+ supported cryptocurrencies and 1300 trading pairs
- User-friendly interface
- Advanced trading features
- Staking and Lending Options
Here’s a breakdown of the advantages of using KuCoin for crypto trading.
- Competitive Fees
KuCoin trading fees are lower than that of the majority of crypto exchanges. The fees fall between 0.10% – 0.30% and even lower with higher VIP levels.
- Strong Security Measures
The crypto exchange provides multiple security features to protect users’ funds and data. Examples of some of these measures include Multi-Factor authentication, bank-grade security, and data encryption.
- Over 700 Supported Cryptocurrencies and 1300 Trading Pairs
KuCoin exchange supports numerous cryptocurrencies, including popular coins like Bitcoin, Ripple, Cardano, Ethereum, and Litecoin. As well as many lesser-known altcoins, like Kaspa, Near Protocol, Shiba Inu, and APECoin.
- User-friendly Interface
The exchange is designed to be accessible and easy to use for all traders. It has features like demo trading, copy trading, and a clean interface, making it an ideal choice for beginner and experienced traders.
- Advanced Trading Features
KuCoin has various markets where users can trade crypto against other crypto tokens, fiat money, and stablecoins. In addition, the Spot and Futures Trading interfaces contain all the information KuCoin users need to monitor your trades.
- Staking and Lending Options:
KuCoin provides opportunities for traders to stake their digital assets and earn passive income on their earnings. Users who want to earn more can use the lending service to lend crypto to other traders.
What are the Cons of KuCoin?
The cons of Kucoin are:
- Not available for US traders
- Limited liquidity for some altcoins
- Experiences congestion during high-traffic periods
- Not Available for US Traders
Similar to other popular crypto exchanges like Bybit and Binance, KuCoin is not available to US traders due to regulatory challenges. If you’re a US trader looking for an exchange, check out the list of KuCoin alternatives at the end of this article.
- Limited Liquidity for Some Altcoins
Since KuCoin lists tons of lesser-known Altcoins, some tend to have lower trading volume/activity, which in turn equates to limited liquidity.
- Experiences Congestion During High-traffic Periods
KuCoin web interface slows down during peak traffic. This increases the time required to complete a transaction and leads to frustration, especially if you’re trying to open or close an order.
