KuCoin Review: Is It Safe? Here’s What We Found

KuCoin is a leading cryptocurrency exchange for trading digital assets and cryptocurrencies. The exchange is suitable for beginners and experienced traders using its website or mobile app.

KuCoin is often referred to as 'The People's Exchange' due to its rapid surge in popularity across the world particularly and is trusted by 1 out of every 4 crypto holders in the world that makes it one of the best platforms to trading crypto.

While we aim to provide you with accurate and the latest information on its features, user interface, fees and more in this KuCoin review, we strongly suggest that you visit the website to keep updated with any changes that may occur afterward.

Key  Features:

  • Over 200 quality crypto coins with more than 400 trading pairs
  • Accepts 46 fiat currencies such as USD, GBP, EUR and CNY
  • Margin trade crypto with up to 10 times leverage
  • Powerful trading engine that is powered by TradingView charts
  • Competitive trading fee of 0.1% per trade
  • Earn interest on crypto (up to 12% USDT annualised)
  • 2.3 star rating based on 138 reviews

overall 

4.55/5

Ease of use

User interface

Fees

Security

This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

What Is KuCoin?

KuCoin is a cryptocurrency exchange that was built to cater to individuals around the globe by providing an easy to use platform for investors to exchange digital assets and cryptocurrencies. Established in late 2017, KuCoin has quickly become one of the most popular crypto trading exchanges in the world. According to coinmarketcap, KuCoin is currently ranked #8 based on traffic, liquidity and trading volumes of its spot market.

In a short period of time, KuCoin has amassed over 5 million registered users from 200+ countries and regions and is well established in communities such as South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India and other regions.

kucoin website

Users are spoilt for choice with several innovative crypto services and products including a spot exchange, futures markets, margin trading, swap crypto with zero-fees, staking rewards, lending service to earn interest on crypto assets and even purchase cryptocurrencies using a credit/debit card.

KuCoin Compared

Advanced features, intuitive user interface and a mobile trading app are important features on KuCoin. This comparison table lists other top rated crypto exchanges like KuCoin that offer world-class features.

Exchange

Trading Fees

Rating

Review

Promotion

Website

binance

Binance

0.1%

4.8/5

10% off trading fees

coinbase

Coinbase

0.5% - 3.99%

4.7/5

$5 BTC bonus (USA only)

FTX Exchange

FTX

0.02% / 0.07%

4.6/5

5% off trading fees

For USA, visit FTX.US

Features & Crypto Products

KuCoin users have access to several features that include instant crypto purchases with a credit card, margin trading platform and staking popular coins like ADA to earn rewards. Here is a summary of the best features on KuCoin.

Supported assets

KuCoin offers 200+ global high-quality blockchain projects with more than 400 trading pairs making the platform one of the best exchanges for trading altcoins or diversifying a portfolio. Investors from around the world can purchase the coins using 46 different fiat currencies such as USD, GBP, EUR and CNY.

Margin trading

KuCoin features an advanced leverage trading platform with margin contracts up to 10 times leverage. There are over 50 margin assets that are paired against BTC, ETH and USDT. Advanced and intermediate users can increase their potential profits longing or shorting a cryptocurrency with a position that is much larger than their own available funds. KuCoin also offers derivatives products with up to 100 times margin.

kucoin margin trading

Mobile app 

KuCoin offers an intuitive and easy-to-use mobile app for customers to trade anywhere and at anytime. The app is supported on Android and iOS devices and allows access to the full spectrum of trading products and features. Users can open positions, monitor trades and view wallet balances.

KuCoin Lending

Similar to lending and borrowing platforms such as BlockFi, Hodlnaut and Nexo, KuCoin incentivises its customers to hold assets on the platform by offering interest on crypto. When not trading on KuCoin, assets can be lent out to others to earn up to 12% USDT annualized.

Ethereum 2.0 Staking

KuCoin is one of the few centralized cryptocurrency exchanges that allows Ethereum 2.0 staking on its platform for users to earn ETH2 rewards. Customers on the exchange can earn ETH2 staking rewards and POL mining rewards by holding ETH2 in their account.

Is KuCoin Legit?

Launched in September 2017, KuCoin is a legitimate digital currency business that has become one of the most trusted and reliable exchanges. The platform has a global presence across 208 countries and regions that are supported by 300+ employees located across four offices in China, Philippines, Singapore and Thailand. KuCoin has processed over 800 million transactions to date and used by over 8 million customers worldwide.

Has KuCoin Been Hacked?

KuCoin cryptocurrency exchange was hacked on September 25, 2020 that resulted in the loss of approximately USD $275 million in digital currency assets held by the exchange. The cause of the hack was revealed to be a leak of private keys to KuCoin's hot wallets that facilitate withdrawals from the exchange. All of customers funds that were stolen in the attack were covered by Kucoin's insurance fund.

Account Registration & Login

To create an account with KuCoin cryptocurrency exchange, the process is simple and takes a few minutes. To start, follow these steps:

  1. Visit the website https://www.kucoin.com
  2. Click on the 'Sign Up' button at the top right-hand corner
  3. Enter in your email, set a strong password and mobile phone number
  4. Agree with the terms of service and click 'Create Account'
  5. Verify your email address and login to using your credentials
kucoin register

KuCoin Verification

KuCoin users are required to complete a Know Your Customer process in accordance with virtual currency industry protocols to help reduce the occurrence of fraud, money laundering and other malicious activities on the exchange.

kucoin verification

Completing the KuCoin verification process enables users to:

  • Increase the daily withdrawal limit to 100 Bitcoin
  • Use the fiat-to-crypto services such as buy crypto with a credit card  or debit card
  • Increase the leverage to 100x on the KuCoin margin trading platform

How To Deposit Funds To KuCoin Account

The easiest way to fund a KuCoin account and start trading altcoins is by transferring Bitcoin, Ethereum or USDT. Depending on the cryptocurrency, it can take between a few seconds, minutes or even hours for the blockchain to confirm the transaction and deposit the funds into the KuCoin wallet. 

kucoin deposit funds

To deposit funds into KuCoin, follow these steps:

  1. Login to your KuCoin account
  2. Navigate to 'Assets' at the top menu and click on 'Main Account (Deposit & Withdrawal)'
  3. Select the crypto you want to deposit (e.g. Bitcoin)
  4. Copy the unique wallet address for the selected coin
  5. Transfer crypto from a personal hardware wallet to KuCoin address 

KuCoin Instant Exchange

KuCoin has launched an Instant Exchange to offer its users the best available crypto exchange rate in the global market and to allow the rapid purchase of cryptocurrencies with zero trading fees. KuCoin's instant exchange supports the popular cryptocurrency coins such as Bitcoin, Ethereum, Litecoin and XRP.

kucoin instant exchange

To trade crypto with zero fees using KuCoin, follow these steps:

  1. Login to your KuCoin account
  2. Deposit funds into the Trading Account
  3. Place an order via KuCoin Instant Exchange
  4. Confirm the transaction 

Buy Crypto With Fiat Currency Using KuCoin

KuCoin exchange offers more than altcoin trading and provides the ability for its users to directly purchase crypto and stable coins using several payment methods that include credit and debit cards through Simplex, Banxa and PayMIR, peer-to-peer exchange and Instant buy and sell (Fast Buy).

The Fast Buy feature is a safe place to purchase multiple digital assets such as BTC, USDT, ETH, and PAX with low fee rates. The KuCoin instant buy/sell allows users to top up their wallet using WeChat Pay, Alipay, PayPal and bank cards. KuCoin exchange supports over 46 different fiat currencies from all over the world.

kucoin fast buy

Trading Platform

KuCoin offers an elegant, responsive and easy to use trading platform for both beginners and intermediate altcoin traders. Users will need to deposit funds into a KuCoin wallet before using the trading platform.  

Once the KuCoin wallet is funded, traders can open the 'Trade' drop down and select either the 'Spot' or 'Margin' exchange to display the live crypto charts which can be viewed as a single chart of split into a quad display which is a nice feature to monitor different crypto pairs or timeframes. 

kucoin charts

The default layout displays a price chart to provide a quick overview of price action using candlesticks. The charting software and tools are provided by Tradingview, which most crypto traders will be familiar with. Users are able to draw lines, patterns and add indicators over the live price charts.

Positioned on the right is the order book and recent trades window. Traders are able to quickly see all the prices that other people are willing to buy and sell the selected cryptocurrency for. The numbers in the middle show the last sale price and the volume or amount traded at each price level. 

kucoin orders

The order entry box at the bottom of the screen provides the option to quickly switch between spot, margin and futures markets. Each market provides a quick order amount percentage (e.g. 25%, 50%, 75% and 100%) to allow rapid position sizing based on the account balance.  

There are several order types that include limit, market, stop-limit and stop market. When you want to enter an order, you can simply click the recent trades window which will automatically enter the price of the cryptocurrency. Entering a price manually can lead to errors.

Trading With KuCoin

To trade cryptocurrency with KuCoin exchange, follow these simple steps:

  1. Login to your KuCoin account
  2. Go to the 'Trade' menu and select 'Spot'  
  3. Select a crypto pair to trade 
  4. Enter the price you want to buy or sell 
  5. Select the amount to buy or sell (e.g. BTC)
  6. Review the order to ensure the details are correct
  7. Click on the green 'Buy' or red 'Sell' button to place the trade

Supported Crypto

KuCoin supports over 200 global high-quality blockchain projects with more than 400 pairs to trade. Users on the platform have the option to trade each crypto asset against Bitcoin, KuCoin Shares (KCS), Stablecoins (e.g. USDT, USDC, TUSD etc.) and other altcoins such as Ethereum.

KuCoin App

KuCoin offers its global users base a mobile trading app that can be downloaded to trade anytime and anywhere with an internet connection. The app can be used on iOS and Android devices. The KuCoin app interface is sleek, beginner-friendly and intuitive navigation to buy, sell, trade, manage orders and wallets while on the move. The KuCoin mobile app is free for everyone and can be used to:

  • Create an account with KuCoin
  • Complete KYC identity verification
  • View real-time crypto price charts
  • Deposit funds using payment methods such as Paypal 
  • Buy and sell crypto instantly using the Kucoin app
  • Trade crypto assets using the trading platform

KuCoin's mobile app has been downloaded over 100,000 times with an average user rating of 4.1/5 stars.

kucoin app

Spot Fees

KuCoin's fee structure uses a taker and maker model and is based on the 30-day trade volume (BTC) for all cryptocurrency pairs. The fees start from 0.1% and gradually decrease with higher trading volumes. The fee is competitive and comparable to other crypto exchanges such as Binance, Huobi and AAX. Individuals that have a monthly trade volume greater than 2000 BTC and provide liquidity to the order book (e.g. using conditional orders) will pay zero-trading fees for crypto transactions.

Level

Trade Volume (30d)

Maker Fee

Taker Fee

0

<50 BTC

0.1%

0.1%

1

≥50 BTC

0.09%

0.1%

2

≥200 BTC

0.07%

0.09%

3

≥500 BTC

0.05%

0.08%

4

≥1000 BTC

0.03%

0.07%

5

≥2000 BTC

0%

0.07%

Margin Fees

The margin fee structure is based on a tiered structure however the trading volume limits and maker/taker fees differ. In comparison to the popular leverage trading platforms, KuCoin's fees are competitive but not the cheapest.

Level

Trade Volume (30d)

Maker Fee

Taker Fee

0

<100 BTC

0.02%

0.06%

1

≥100 BTC

0.015%

0.06%

2

≥400

0.01%

0.06%

3

≥1000

0.01%

0.05%

4

≥2000

0.01%

0.04%

5

≥3000

0%

0.04%

KuCoin Alternatives

crypto.com

Crypto.com

Crypto.com is a global digital asset service that offers a wide range of products to accelerate the adoption of blockchain technology by improving the usability and accessibility of financial payment services using cryptocurrencies.

plus500

Plus500

Plus500 is a CFD providers that offers its massive customer base to trade the world's most popular crypto assets with up to 30x leverage such as Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Cardano, Tron and Monero.

Disclaimer: your capital is at risk

binance

Binance

Binance is the largest cryptocurrency exchange by trade volume and one of the fastest trading services providers for blockchain ecosystem. The exchange has seen an astronomical growth and is a premium crypto trading platform. 

Frequently Asked Questions

Where Is KuCoin Based?

KuCoin is a global cryptocurrency platform that is headquartered in Singapore. The exchange employs over 300 employees across four major offices in China, the Philippines, Singapore and Thailand.

Does KuCoin Have Insurance?

Cryptocurrency assets stored on KuCoin exchange are backed with an insurance policy according to the website. The insurance protection is provided by Lockton who are on the of world's largest private insurance brokerage companies. 

Do You Need To Complete KYC?

KuCoin has implemented a Know Your Customer (KYC) process to ensure the safety and security of user funds on the exchange. Users are required to submit personal information in accordance with virtual currency industry protocols to help reduce the occrance of fraud, money laundering and other malicious activities on KuCoin.

Does KuCoin Have An Affiliate Program?

KuCoin offers a referral program that is based on a tiered structure and rewards a higher commission based on the number of invitees. The first level of affiliate commission for new referrals is 30% of the referred users trading fees. The next level if 40% commissions if the number of referred users exceeds 50.

Can You Use KuCoin In Australia?

KuCoin is available for residents in Australia to trade digital currency assets on the platform. The exchange does not directly allow Australian Dollars (AUD) to be deposited to KuCoin for trading. Simplex, a third-party payment processor can be used to deposit funds to KuCoin which will incur additional fees. Overall, KuCoin is still a popular crypto exchange in Australia due to its wide variety of altcoins on offer.

Conclusion

To conclude our KuCoin review, it is a leading cryptocurrency exchange that provides a complete trading offering packed with innovative products and features. KuCoin exchange is widely popular for its beginner-friendly trading interface on desktop and mobile apps. With its wide selection of cryptocurrency trading pairs, traders all over the world are able to swap digital currency assets quickly and with low trading fees. 

To reinforce our review on KuCoin, it is trusted by 1 out of every 4 crypto holders in the world due which is attributed to its safe and secure trading platform. In our opinion, KuCoin deserves all the accolades and is undoubtedly one of the best crypto exchanges in the world to trade cryptocurrencies.

KuCoin

4.55

Ease of use

4.5/5

Reputation

4.5/5

User interface

4.8/5

Trading fees

4.3/5

Customer support

4.8/5

Pros

  • Over 200 altcoins to trade
  • High liquidity order-book with low spreads
  • Staking to earn rewards
  • Secure offline wallets to keep funds safe
  • 24/7 multilingual customer support

Cons

  • Limited fiat deposit methods using local payment options
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Kevin Groves
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 and is a swing trader with over 10 years of experience. He loves trading crypto using various platforms and helping others learn about cryptocurrencies via hedgewithcrypto.