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Today we are looking into KuCoin and doing a KuCoin review, a cryptocurrency exchange based in Singapore. 

Kucoin Review

four stars

The kucoin cryptocurrency exchange is one of the most recent and popular exchanges in the world.

It was established by blockchain enthusiasts who wanted to provide the best possible digital asset trading services for people all over the world, including but not limited to: fast and secure crypto trading pairs with various cryptocurrencies; offer users with great service support; prompt user verification process without hassle or stress of waiting too long like other exchanges.

It has many positives, but also some negatives that should be considered before trading on the platform. This KuCoin review will cover both sides of this exchange to help you make a more informed decision about whether or not to trade with them.

Pros

  • Very low withdrawal and trading fee from 0.1%
  • User-friendly interface
  • Wide variety of altcoins to choose from
  • Excellent 24/7 customer care service
  • Future and margin trading available
  • Ability to stake and earn crypto

Cons

  • Charge higher trading fee on fiat-crypto trades
  • Direct bank deposits are not available
  • The system does not allow the trading of fiat pairs
  • Unreliable customer support
  • Reports of not being able to withdraw funds

KuCoin Review 2022

kucoin review

KuCoin has emerged as one of the best exchange sites in the crypto market since it offers a one-stop shop for almost all crypto operations.

KuCoin has been consistently ranked in the Top 10 on the list of the busiest exchanged platforms world.

Currently, the exchange site allows trade-in of more than 200 cryptocurrencies in more than 400 crypto markets worldwide.

Because of its wide market coverage, the platform is considered one of the best and most convenient crypto hubs online.

What is KuCoin?

KuCoin was launched in 2017. Michael Gan and Eric Don founded the exchange site. The two founding partners, Michael and Don, are experienced businessmen with vast knowledge in digital currency and blockchain.

One of the goals of KuCoin was to create a safe and easy-to-use service for people The founders all of Ku over theCoin world wanted to to create trade cryptocurrency a safe., easy-to-use platform for the global audience to trade digital currency.

Before launching KuCoin, they ran various projects like Ant Financial and iBox PAY. The grand objective of introducing KuCoin in the crypto market was to provide secure and user-friendly platforms for crypto traders and investors.

The platform boosts having bank-level security, user-friendly interface, wide collection of crypto assets, high liquidity, a large customer base of about six million, and a wide range of crypto services.

Why Use KuCoin?

KuCoin is a cryptocurrency exchange, which offers many features to its users.

Some of the crypto services offered on the platform are margin trading, futures trading; prompt exchange services, the ability to make purchases using debit/credit cards, IEOs (Initial Exchange Offerings) via its KunCoin Spotlight, affordable trading fees, and many more.

User-friendly exchange platform:

KuCoin interface has an excellent design where investors and traders enjoy trading for fun. The platform features also favor new and seasoned traders.

Best transaction services; the exchange site transaction “engines” are efficient and process millions of transactions per second (TPS)

Affordable transaction fees:

Being one of the busiest exchange sites, KuCoin supports over 200 crypto assets. Apart from the discounts and bonuses traders receive on the site, KuCoin charges a 0.1% transaction fee. Most importantly, the transaction charges might even be lower for future trading.

Non-custodial trading:

Traders can opt for non-custodial trading directly from their private wallets to ramp up security for their crypto assets. This feature has been made possible by the cooperation between KuCoin and Arwen.

Bank-level security:

KuCoin has installed within its platform various security measures to protect traders and investors from fraudulent activities by hackers. Examples of such security measures are industry-level multilayer encryption, dynamic multifactor authentication, micro-withdrawal wallets, and risk control departments that oversee daily data operation with strict adherence to security standards.

Features of KuCoin

KuCoin Margin Trading

The margin trading feature was launched in November 2019. This feature allows investors and traders to use funds from other traders on KuCoin to grow and gain higher amounts of capital. Gaining higher amounts of capital enables these traders to leverage their positions.

Only 15 cryptocurrencies are allowed during KuCoin margin trading. Some of these cryptocurrencies are BTC, ETH, and KCS, among others.

On the upside, this trading feature can be used for both long and short positions. Additionally, it allows individual traders to make more profits. On the same note, traders might incur huge losses compared to their initial investment. KuCoin has 35 trade pairs that can be leveraged up to 10X.

KuCoin Future Trading

kucoin review

The KuCoin Future Trading wasn’t available until July 2019. Using this feature, traders can purchase and sell standardized contracts of financial assets.

Future trading works on the principle that the trader buys the assets at a given price and during a particular period in the future. On the contrary, sellers must deliver the purchased assets at that specific time and price.

Marginalized contracts allow traders to trade coins up to 100X leverage. For instance, if you have 100 USD in your account, you can trade contracts worth 10,000 USD. Lite mode (meant for beginners) and Pro mode (for an experienced and seasoned trader) are the two main versions of KuCoin Trading.

Lite mode interface allows traders and investors to trade; USDT marginalized Ethereum and Bitcoin contracts.

Pro interface allows traders to switch between:

  • USDT margined: BTC, ETC perpetual
  • BTC margined: BTC perpetual, quarterly BTC 1225 and 0925

KuCoin Lending

kucoin lending

KuCoin offers a lot of interesting crypto-related opportunities. For instance, it can be possible to take advantage of cryptocurrency without the risk associated with swings in prices, as by lending out Stellar Lumens or Tether – both stablecoins on Kucoin exchange – and participate in margin trading.

The lender must fill in personal details about the loan and the daily interest rate. This range of rates varies from 0 up to 0.2%. The terms for repayment may be chosen as seven days, 14 days, or 28 days. The default selection is 28 days.

KuCoin Account Verification

In November 2018, KuCoin launched within its site Know Your Customer (KYC) verification. The main objective of its establishment and launch was to combat criminal activities and money laundering schemes.

However, KuCoin account verification is optional, more so when you’re just starting up or you’re a small volume trader.

Nevertheless, traders with verified accounts get additional benefits such as increased withdrawal limits and immediate account recovery in case of two-factor authentication device or a lost password.

There are three main levels of account verification available on the KuCoin website. They include;

  • Unverified accounts; require email verification. Once verified, the withdrawal limits are increased to 2 BTC per day.
  • Verified individual accounts; here, you’re required to submit personal details such as personal ID or passport and country of residence. Once the account is verified, withdrawal limits are increased to 100 BTC every 24 hours.
  • Verified institutional account; once the account is verified, your withdrawal limits are increased to 500 BTC per twenty-four hours.

Traders are strongly advised to complete the account verification process to avoid future troubles.

Furthermore, verified account users enjoy additional benefits such as participating in fiat-to-crypto trading once the feature is launched on the site.

KuCoin Fees

KuCoin Spot Trading Fees

Every deal has a fixed fee of 0.1%. The lower your 30-day trading volume and Kucoin Shares holdings, the more you can reduce the rate.

kucoin spot trading fees

KuCoin Futures Trading Fees

KuCoin Futures has an adjustable interest rate because the funding cost can be higher or lower. Funding occurs after every 8 hours.

kucoin futures trading fees

KuCoin Withdrawal Fees

KuCoin is well-known in the cryptocurrency industry for its low withdrawal fees. For instance, when withdrawing BTC from KuCoin, users only have to pay 0.0004 BTC.

It’s rare for an exchange of this size and longevity to charge less than the industry-standard fee when other exchanges typically take as much as 0.004% of

KuCoin Deposit Fees

KuCoin doesn’t charge a fee when users deposit funds into a Kucoin account.

Frequently Asked Questions

KuCoin Review Wrap up

KuCoin crypto exchange site offers virtually everything to traders and investors in the digital currency space. After reading this KuCoin review, you might be stumped as to which crypto exchange is ideal for you. Consider reading some of our most popular read crypto exchange comparisons if you’re still undecided after reading this KuCoin review.

Recommended: Uphold vs Coinbase

If you want to trade cryptocurrency, see our top list of cryptocurrency exchanges that have been tested and reviewed. 

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How to convert BTC to USDT on Kucoin

CryptoWhat
CryptoWhat was created in 2015 and has become one of the most trusted and well-respected sources of information on all things crypto. The blog's authors are dedicated to providing clear, concise, and jargon-free explanations of this complex technology, so that everyone can understand it.
By: Patrick Moore
By: Patrick Moore