KuCoin is a popular platform that is a one-stop destination for speculating on the digital currency market. The website has a variety of markets to trade such as spot, leveraged tokens, derivatives and a peer-to-peer exchange using its website or mobile app. The leading cryptocurrency exchange is often referred to as 'The People's Exchange' due to its rapid surge in popularity across the world particularly. According to the website, KuCoin is trusted by 1 out of every 4 crypto holders in the world. The exchange is suitable for beginners and experienced traders using its website or mobile app. In this review, we assess KuCoin's best features, trading fees, ease of use and security to help you make a decision.
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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 exchanges in the world where 25% of global crypto holders are with KuCoin according to their website. In a short period of time, the KuCoin platform has amassed over 20 million registered users across 207+ countries and regions and is well established in communities such as South Korea, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions.
Users are spoilt for choice with several innovative crypto services and products including a spot exchange, futures markets, margin trading, leveraged tokens, zero-fee crypto swaps, staking rewards, crypto lending services to earn interest on crypto assets and even purchase cryptocurrencies using a credit/debit card.
|Fiat Currency||USD, GBP, EUR, CNY & 46 others|
|Cryptocurrency||700+ crypto and 1,200+ trading pairs|
|Trading Markets||Spot, futures, margin, leveraged tokens and crypto swaps|
|Payment Type||Credit/debit card, SEPA, Apple Pay, crypto & others|
|Trading Fees||0.1% (maker) & 0.1% (taker)|
|Mobile App||Yes (iOS and Android)|
Over 700 cryptocurrencies to trade
KuCoin is one of the top altcoin exchanges that offers 700+ global high-quality blockchain projects with more than 1,200 trading pairs. The wide range of supported coins allows investors to diversify a portfolio between the major crypto-assets, stablecoins, DeFi tokens and exotic altcoins. Moreover, the wide variety of altcoin trading pairs has reasonable trading volumes which also makes KuCoin one of the best exchanges for day traders and scalpers. In addition, new investors from around the world can purchase the coins using 39 different fiat currencies such as USD, GBP, EUR, and THB to fund a KuCoin platform account for trading.
KuCoin features an advanced margin trading platform with margin pairs up to 10 times leverage where advanced and intermediate users can increase their potential profits by longing or shorting a cryptocurrency. By leveraging potential profits (and losses), traders with smaller amounts of capital can still participate in margin trading. With over 220 margin pairs with BTC, ETH, USDC, and USDT as the base collateral currencies, traders have immense choice and flexibility.
Each trading pair also comes with its independent isolated margin account. The maximum leverage that can be applied to cross-margin and isolated positions are 5x and 10x, respectively. Investors should be cautious that during times of market volatility, a liquidation event will be triggered when the debt ratio reaches 97% of the capital invested.
Intermediate and advanced margin traders also have a suite of take-profit and stop-loss orders that can provide a level of control over their trades:
- Take-Profit: Close positions in a timely manner to capture profit when price predictions fit the market trend.
- Stop-Loss: Close the position when the price prediction does not fit with market conditions in order to prevent losses.
- Combined Take-Profit & Stop-Loss: When market conditions aren't clear, both can be set at the same time.
Otherwise known as contract trading, KuCoin provides a secure environment for futures trading, where users can buy or sell cryptocurrencies at a predetermined price at a specific time in the future. Users can trade over 110 coins with leverage up to 100x. KuCoin currently offers two types of futures: quarterly delivery futures, and perpetual futures. Delivery futures are contracts where users can buy and sell digital currencies at a predetermined price set at a specific time in the future. On the other hand, perpetual futures contracts are cash-settled every 8 hours, however, have no expiry date.
KuCoin remains a top choice for serious crypto traders, not only for its enviable array of supported trading pairs, slick interface, and competitive fees, but also for its management features which provide the following advantages.
- Risk hedging: Traders can hedge against the potential risks associated with price volatility by shorting or selling futures contracts.
- Two-way profit – Profits can be realized in both uptrend and downtrend positions when buying or selling a futures contract.
- High leverage – Greater profits can be achieved with a maximum margin of 100x. This means that capital as low as $1 is enough to get started and achieve measurable trading outcomes.
At the time of writing, KuCoin users can take long or short positions on 120 digital currencies such as BTC, ETH, ADA, LTC, SUSHI, and 1INCH, where contracts are settled in USDT. Additionally, futures contracts can also be settled in USD, however, the supported currencies are limited to BTC (including quarterly), ETH, DOT, and XRP.
Futures Lite - Trading For Beginners
It is clear that KuCoin is trying to bridge the gap for beginners by offering its Futures Lite trading exchange. The Futures Lite futures exchange aims to provide beginners with a simplified trading experience. KuCoin Futures Lite offers similar services to the classic futures trading exchange. In terms of the supported trading pairs, all the 120 digital assets offered on the classic futures exchange can also be accessed on Futures Lite. Novice traders can take long or short positions on cryptocurrencies such as BTC, LINK, TRX, XLM, and DASH, and up to 100x leverage can be applied.
The Futures Lite exchange provides simple line or candlestick charting, and a basic order form where the desired leverage can be selected. Overall, the interface is clean-cut, aesthetically pleasing, and does not contain complicated order books or advanced tools and indicators that may overwhelm beginners.
KuCoin Trading Bots
One of the features that strongly complements KuCoin's advanced trading services is its renowned trading bots. Trading bots are essentially automated mechanisms to regularly and consistently place orders that fit the trader's strategy. KuCoin is one of the better trading bot platforms compared to other exchanges, particularly for beginners, who want to either create their own bots or use one of the existing and free-to-use bots.
Some of the trading bots that can be used are:
- Spot Grid: An effective volatility reduction tool where the trading bot will place orders when the buying price decreases and sells when the price increases.
- Futures Grid: Buy the lows and sell the highs within the selected price range in the crypto futures market.
- Smart Rebalance: Automatically buys low and sells high whilst maintaining portfolio allocations for each digital asset.
- Dollar-Cost-Averaging (DCA): The user's capital is automatically and incrementally invested into a cryptocurrency over a period of time to assist in mitigating market volatility.
- Infinity Grid: Automatically buys low and sells high in percentages with no upper limit.
Peer-to-Peer Crypto Exchange
One of the ways in which crypto investors can obtain digital assets using fiat currencies is through the KuCoin Peer-to-Peer (P2P) marketplace. The P2P platform allows investors to perform fiat-to-crypto trades directly with other users. KuCoin's P2P platform interface is organized by the assets that are allowed to be bought or sold, which are currently limited to USDT, BTC, ETH, KCS, or USDC. Other altcoins and stablecoins are not able to be bought or sold.
Approved merchants can provide buyers with several payment methods including Payeer, AirTM, ADVCash, or Transfer Wise. 29 fiat currencies can be used to buy crypto from merchants including USD, AUD, JPY, CAD, and EUR.
Overall, we found the KuCoin P2P crypto marketplace to be a well-rounded feature that provides users with another trading avenue. Since KuCoin does not charge any fees to use the P2P platform, transactions can be economical (excluding any fees incurred by party payment providers). Transactions are also settled fast as assets can be directly sent to the recipient's wallet following payment confirmation, a wide range of payment options are available, and merchants are vetted by KuCoin to ensure their reliability.
To help users grow their crypto investment, KuCoin has introduced an Earn platform that enables passive growth on more than 50 coins. The products available under this program include flexible savings, and crypto staking platform for tokens such as Polkadot and Ethereum 2.0. There is a combination of fixed and flexible terms to suit a variety of users.
- KuCoin Savings. Deposit coins into a savings wallet to earn a return on investment between 5 and 8% APR. The benefit of the savings account is the funds do not have to be locked in and can be transferred to the trading account at any time.
- Staking. KuCoin's staking feature supports Proof-of-Stake (PoS) coins to earn rewards.
- Promotions. KuCoin often runs promotions that reward existing users with higher returns under its Earn products. These are limited-time offers and have a limit on the number of participants. Like the savings account, there are fixed and flexible promotions that can be subscribed to.
- Burning Drop. Similar to staking, users on the platform can delegate their tokens to the Burning Drop platform to earn rewards. The greater the number of tokens locked in increases the computing power that in return increases the rewards fairly distributed to participants.
Similar to established crypto lending platforms such as BlockFi, Hodlnaut, and Nexo, KuCoin has introduced similar earn features to incentivize 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 30% USDT annualized. KuCoin Lending is ideal for users that want to earn a steady return on their idle assets with lower risk compared to margin trading. There are over 100 tokens for users to lend their assets and obtain a passive income such as Bitcoin, Ethereum, Cardano and Tether among others.
KuCoin is an all-in-one trading platform with an impressive suite of features, products and services for astute crypto investors and day traders alike. The selection of 700+ coins, low trading fees of 0.1% and sophisticated mobile app make it one of the best cryptocurrency exchanges. However, the trading terminal could be more streamlined for beginners and include the ability to withdraw fiat to a bank account. Here is a summary of the advantages and disadvantages of KuCoin based on HedgewithCrypto's review.
- Reputable crypto exchange with large customer base worldwide
- Large selection of 700+ coins to trade with deep liquidity
- Highly suitable for serious crypto investors and day traders
- Modern, responsive and seamless mobile app for 24/7 trading
- Low 0.1% trading fees with 20% fee rebates available for KuCoin token holders
Advanced features, an intuitive user interface, and an excellent mobile trading app are noteworthy features of KuCoin. This comparison table lists other exchanges like KuCoin that offer world-class features.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|Up to $50 welcome bonus||Visit Binance||Binance Review|
|$5 BTC bonus (USA only)||Visit Coinbase||Coinbase Review|
|319||0.02% / 0.07%|
|5% off trading fees||Visit FTX||FTX Review|
|Up to 500 USDT in bonuses||Visit KuCoin||KuCoin Review|
To create an account with KuCoin cryptocurrency exchange, the process is simple and takes a few minutes. To start, follow these steps:
- Visit the website https://www.kucoin.com
- Click on the 'Sign Up' button at the top right-hand corner
- Enter in your email, set a strong password and mobile phone number
- Agree with the terms of service and click 'Create Account'
- Verify your email address and login using your credentials
KuCoin users are required to complete a Know Your Customer (KYC) process in accordance with virtual currency industry protocols to help reduce the occurrence of fraud, money laundering, and other malicious activities on the exchange. Users can still use the KuCoin platform without verification, however, the withdrawal limit is restricted to 1 BTC without a 24-hour period. Completing the KuCoin verification process enables users to:
- Increase the daily withdrawal limit to 200 Bitcoin
- Use the fiat-to-crypto services to buy crypto with a credit card or debit card, with a limit of $1,400
- Increase the leverage to 100x on the KuCoin Futures trading platform
Users can fund their KuCoin account with more than 50 fiat currencies such as USD, AUD, CAD, and THB, or with cryptocurrencies from an external wallet. The easiest way to fund a KuCoin account and start trading altcoins is by transferring Bitcoin, Ethereum, or USDT. Other popular methods of depositing fiat are using a credit, debit card or bank transfer through SEPA.
Users who opt to finance their account wallet with their local fiat currency will be presented with the payment options that are available to them. For example, investors and traders residing in Australia are only able to transfer AUD using credit and debit cards.
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, A Peer-to-Peer (P2P) exchange and Instant Buy and Sell (Fast Trade).
The Fast Trade feature is a safe place to purchase multiple digital assets such as BTC, USDT, ETH, and PAX with low fee rates. The feature allows users to top up their wallets with some of the major digital currencies using over 70 payment methods such as WeChat Pay, Alipay, PayPal, and bank cards. KuCoin exchange supports 44 different fiat currencies from all over the world including USD, THB, SGD, AUD, and CAD.
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 or split into a quad display which is a nice feature to monitor different crypto pairs or timeframes.
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.
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.
To trade cryptocurrency with KuCoin exchange, follow these simple steps:
- Login to your KuCoin account
- Go to the 'Trade' menu and select 'Spot'
- Select a crypto pair to trade
- Enter the price you want to buy or sell
- Select the amount to buy or sell (e.g. BTC)
- Review the order to ensure the details are correct
- Click on the green 'Buy' or red 'Sell' button to place the trade
Spot trading fees
KuCoin's fee structure uses a tiered taker and maker model where the spot fees start from 0.1% (maker) and 0.1% (taker). Due to the tiered nature, advanced traders are rewarded with lower fees depending on the volume of KuCoin Token (KCS) held, the trading volume of BTC, or the total BTC futures trading volume over the last 30 days. Paying fees with KCS provides trading fee discounts of 20% which is offered as a rebate. Moreover, based on our calculations, the bid/ask spread is as low as 0.001% for Bitcoin and Ethereum pairs at the time of writing.
The fee is competitive and comparable to other cryptocurrency 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 fees for crypto transactions.
|KCS Held (30d)||Spot Trading Volume (30d)||Futures Trading Volume (30d)||Trading Fee (Maker / Taker)|
|0||<50 BTC||<100 BTC||0.1% / 0.1%|
|1,000||≥50 BTC||≥100 BTC||0.09% / 0.1%|
|10,000||≥200 BTC||≥400 BTC||0.07% / 0.09%|
|20,000||≥500 BTC||≥1,000 BTC||0.05% / 0.08%|
|30,000||≥1000 BTC||≥2,000 BTC||0.03% / 0.07%|
|40,000||≥2000 BTC||≥3,000 BTC||0% / 0.07%|
Margin and futures trading fees
The margin and futures fee structure is based on a tiered structure however the trading volume limits and maker/taker fees differ from their spot trading counterparts. The maker and taker fees for margin and futures trading start at 0.02% and 0.06%, respectively. In comparison to other exchanges with futures markets, KuCoin's fees are quite competitive but not the cheapest.
|KCS Held (30d)||Spot BTC Volume (30d)||BTC Futures Trading Volume (30d)||Fee (Maker / Taker)|
|0||<50 BTC||<100 BTC||0.02% / 0.06%|
|1,000||≥50 BTC||≥100 BTC||0.015% / 0.06%|
|10,000||≥200 BTC||≥400 BTC||0.01% / 0.06%|
|20,000||≥500 BTC||≥1000 BTC||0.01% / 0.05%|
|30,000||≥1,000 BTC||≥2000 BTC||0.01% / 0.04%|
|40,000||≥2,000 BTC||≥3000 BTC||0% / 0.04%|
KuCoin does not charge additional withdrawal fees to send crypto to an external wallet. This is in line with most cryptocurrency exchanges. There is a standard blockchain network fee that applies to transacting over the blockchain network. For example, KuCoin withdrawal fees to transfer Bitcoin is 0.0005BTC, which equates to approximately USD 10 at the time of writing.
KuCoin has a crypto app that can be downloaded to trade anytime and anywhere with an internet connection. The has been downloaded over 5 million times with an average user rating of 4.1/5 stars. The KuCoin app can be used on iOS and Android devices. It is sleek, beginner-friendly, and intuitive navigation to buy, sell, trade, and 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 using the trading platform KuCoin's mobile app
- Connect with like-minded traders via KuCoin S which is a leading crypto social trading platform and community to share ideas
KuCoin cryptocurrency exchange was hacked on September 25, 2020, resulting in the loss of approximately USD $285 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. The exchange did respond to the incident quickly and managed to recover 84% of the stolen funds in the attack. The remaining losses were covered by Kucoin's own capital and insurance fund.
KuCoin is a global cryptocurrency platform that is headquartered in Seychelles. The exchange employs over 1,000 employees across four major offices around the globe.
Launched in September 2017, KuCoin appears to be a legitimate cryptocurrency business that has become one of the most trusted and reliable exchanges. Since its inception, KuCoin has become one of the largest altcoin exchanges with more than 1 trillion accumulated trading volume (USD) at the time of writing.
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.
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.
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 40% of the referred users' trading fees. The next level is 45% commissions if the number of referred users exceeds 100 every quarter.
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 a good cryptocurrency exchange in Australia for its wide variety of altcoins on offer and low trading fees.
KuCoin is a proven and reputable crypto exchange that provides a complete trading offering packed with innovative products and features. It is widely popular for its feature-rich trading interface on desktop and mobile apps. With its wide selection of cryptocurrency trading pairs, traders are able to swap digital currency assets quickly and with low trading fees. Based on our review, KuCoin deserves all the accolades and is undoubtedly one of the best altcoin exchanges compared to other platforms.