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

Posted: Jul 14th, 2020Updated: Dec 1st, 2021
kucoin review
KuCoin is a leading cryptocurrency trading platform for digital assets and cryptocurrencies. The exchange is suitable for beginners and experienced traders using its website or mobile app. In this review, we assess whether the platform is a safe place to deposit funds and trade the wide selection of altcoins.

KuCoin

Trading Fees:0.1%
Country:Global (USA not allowed)
Currency:USD, GBP, EUR, CNY & 40 others
Promotion:0% trading fees for 7 days

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
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 for beginners and experienced traders using its website or mobile app.
The global 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.

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
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 for beginners and experienced traders using its website or mobile app.
The global 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.
Ease of useStarStarStarStarEmpty Star
ReputationStarStarStarStarEmpty Star
Deposit methodsStarStarStarStarEmpty Star
FeesStarStarStarStarEmpty Star
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.
kucoin websitekucoin website
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.
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.

Quick Overview

Exchange NameKuCoin
Fiat CurrencyUSD, GBP, EUR, CNY & 40 others
Cryptocurrency200+
Payment TypeCredit card, SEPA & Apple Pay
Trading Fees0.2%
Mobile AppYes

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.
ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
Binance Logo

Binance

300+0.1%
Overall 4.8/5StarStarStarStarEmpty Star
20% off trading feesVisit BinanceBinance Review
Coinbase Logo

Coinbase

200+0.5%
Overall 4.8/5StarStarStarStarEmpty Star
$5 BTC bonus (USA only)Visit CoinbaseCoinbase Review
FTX

FTX

2580.02% / 0.07%
Overall 4.7/5StarStarStarStarEmpty Star
5% off trading feesVisit FTXFTX Review
KuCoin Logo

KuCoin

200+0.1%
Overall 4.6/5StarStarStarStarEmpty Star
0% trading fees for 7 daysVisit KuCoinKuCoin Review

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.

Features & Products

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 tradingkucoin margin trading

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.

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.

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.

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.

Supported Coins

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.

Getting Started

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

Verification Requirements

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. 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
kucoin verificationkucoin verification

Depositing Funds

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 fundskucoin 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.
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
kucoin instant exchangekucoin instant exchange

Buy Crypto With Fiat Currency

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 buykucoin fast buy

Trading Platform User Interface

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 chartingkucoin charting
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 orderskucoin 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.
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

What Are The Fees?

Spot Trading 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.
Trade Volume (30d)Fee (Maker / Taker)
<50 BTC0.1% / 0.1%
≥50 BTC0.09% / 0.1%
≥200 BTC0.07% / 0.09%
≥500 BTC0.05% / 0.08%
≥1000 BTC0.03% / 0.07%
≥2000 BTC0% / 0.07%

Margin Trading Fees

The margin fee structure is based on a tiered structure however the trading volume limits and maker/taker fees differ. The fees start from 0.02% and 0.06% for makers and takers respectively. In comparison to the popular leverage trading platforms, KuCoin's fees are competitive but not the cheapest.
Trade Volume (30d)Fee (Maker / Taker)
<100 BTC0.2% / 0.6%
≥100 BTC0.015% / 0.06%
≥400 BTC0.01% / 0.06%
≥1000 BTC0.01% / 0.05%
≥2000 BTC0.01% / 0.04%
≥3000 BTC0% / 0.04%

Using The 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 has been downloaded over 100,000 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, 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
kucoin appkucoin app

Frequently Asked Questions

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.
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 30% of the referred users trading fees. The next level if 40% commissions if the number of referred users exceeds 50.
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 top crypto exchange in Australia for its wide variety of altcoins on offer and low trading fees.

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.
Visit KuCoin
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.
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Kevin GrovesKevin GrovesKevin GrovesKevin is the founder and chief editor at hedgewithcrypto that he started in 2019 which has reached over 1.5 million visitors worldwide. He is passionate about cryptocurrency as an emerging technology and is heavily involved in the fast-growing fintech space. A professional trader growing his portfolio since 2016, he has a strong understanding of investing in the market using exchanges, brokers and derivatives platforms. After leaving his full-time job at the start of 2021, his mission today is to share information guides on crypto and to find the best exchanges via hedgewithcrypto through detailed reviews and comparisons. To stay up to date with the latest exchange reviews and guides on Bitcoin, trading, DeFi, staking and more, follow us via our newsletter and social media channels.
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