KuCoin

KuCoin · Score/Overall Summary

Originally launched in Hong Kong in 2017, KuCoin is actually a Singapore-based exchange identifying itself as ‘The People’s Exchange’. Kucoin aims to allow people all over the world access to a simple and safe platform to buy and sell a variety of digital currencies. Growing its user base to over 8 million in just 4 years they have certainly made an impact in the global crypto community currently serving one in four crypto holders worldwide.

The range of services and coins available on KuCoin is really impressive adding to its popularity worldwide. New users can find it difficult at the beginning when dealing with the KuCoin’s interface. However, once they learn their way around the platform it is sufficiently easy and convenient. Especially the low 0.1% trading fees and the abundance of trading tools available.

On the other hand, KuCoin’s advanced features would be a feast for experienced cryptocurrency traders having the access to low fees, and a wide range of coins. One significant hurdle is that KuCoin is not licensed to operate in the USA and this impacts its reputation in a certain manner.

Pros
  • Really large crypto exchange more than 8 million users worldwide
  • Among the largest lists of supported cryptocurrencies
  • Ultra-low 0.1% trading fees with additional 20% discount
  • Available for iOS and Android
  • No hacks to date
  • Sufficient trading volumes and liquidity levels
  • Interesting additional features: crypto lending, trading bots, margin trading, futures trading
Cons
  • Not licensed in the USA
  • Interface not suitable for newbies
  • No offline wallet offered
  • Long Live chat waiting times  
A Quick Brief of KuCoin

Firstly created in May 2017, KuCoin is receiving the status of the latest cryptocurrency exchanges in the industry. It is established as a third-party exchange that allows users to buy, sell and trade lots of different cryptocurrencies. KuCoin was designed and established by a group of experienced business specialists. They had thorough insights on the topic as they had previously worked on projects such as Ant Financial and iBox PAY.

The Founders set to create a safe and simple platform for users to trade a range of digital coins more conveniently and cheaply. In the long-term, they expected to achieve this until 2021 which was much of fantasy among the other giants on the market and the newcomers that have many new things to offer.

Since its launch, the KuCoin exchange has not experienced any notable issues or inconsistencies, and generally, the exchange does not suffer from any system overloads. Currently, the KuCoin platform is available on a desktop computer as well as on the KuCoin app on both Android and iOS.

It was reported that in early 2018 KuCoin had more than 1 million users. However, their average trading volume was and is much less than other popular exchanges such as Binance.

KuCoin Shares (KCS) is the native cryptocurrency of the exchange. KuCoin users can get discounted trading fees By holding KCS coins.

Furthermore, KCS coins holders also get a 50% share of all trading fee profit made by the exchange! The KuCoin cryptocurrency experienced an all-time high on 10 January 2018 with more than $1.8 billion!

Features of KuCoin

KuCoin has grown into a top cryptocurrency exchange even though it is the latest exchange on the market that can boast of serving one in four crypto holders worldwide. The Kucoin exchange also offers an extraordinary suite of crypto services like futures and margin trading exchange, the fiat onramp, passive income services such as staking and lending, peer-to-peer (P2P) marketplace, IEO launchpad for crypto crowdfunding, non-custodial trading, and much more giving the exchange a cutting edge over its competitors.

The most notable KuCoin features entail:

  • A wide variety of crypto assets are supported on the KuCoin exchange. You can buy and sell more than 250 cryptocurrencies with low fees worldwide. It is one of the top cryptocurrency exchanges, it offers attractive bonuses and discounts to its users and charges only a 0.1% fee per trade and even smaller fees for futures trading.
  • Crypto is purchasable with all top fiat currencies, like USD, EUR, CNY, GBP, CAD, AUD, and many more. Using its P2P fiat trade, credit or debit card via Simplex, Banxa, or PayMIR, or its Fast Buy service KuCoin gives you the freedom to buy cryptocurrencies seamlessly, and many other options and facilitates from VND,  IDR, and CNY purchases of Bitcoin (BTC) or Tether (USDT).
  • Website, email, ticketing system, and other channels are available for excellent customer support service that can be contacted 24/7.
  • Asset security at Bank-level. To oversee day-to-day data operations according to strict security standards KuCoin uses many security measures, from micro-withdrawal wallets, industry-level multilayer encryption, dynamic multifactor authentication to dedicated internal risk control departments which
  • Futures and Margin Trading are also available on KuCoin. 100x leverage with long or short-term investment in your favorite cryptocurrencies.
  • Generate yield and earn cryptocurrency by checking out KuCoin’s crypto lending, staking, soft staking, and KuCoin Shares (KCS) bonus on how you can put your cryptocurrencies at work.
  • Beginner-friendly and intuitive platform. Trading is made easy with the excellent design and the robust trading platform enjoyable for everyone.
  • Non-custodial trading. Facilitated by Arwen KuCoin supports the option of non-custodial trading if you are interested in strengthening your crypto security, directly from your private wallet.

KuCoin Trading

Kucoin has a lot to offer in terms of trading interface for both newcomers and experts in trading. It is organized in these sections:

Trading Graph -The trading graph represents the recent price history for a given period. Adjust the period that each candlestick represents in the top left where you can also add technical indicators.

Order Book + Recent Order Fills – On the left, this panel shows open orders and recent fills on the right. The current price is given in the middle

Your Orders – Order history, open orders, and trade history are packed neatly within this section where you can also cancel Open Orders that haven’t been filled yet.

Place Orders – KuCoin only has limited orders and this is the section where the meat of your trading is done.

KuCoin Mobile Trading

The mobile web version of the KuCoin exchange was released last year. Now, it is really easy to trade on your mobile phone.

The mobile web version advantages are:

  1. Phone Memory is not occupied: users do not need to download the KuCoin App. Instead, they can add the website to their mobile home screen with one click.
  2. Nonstop Trading: you can make transactions at any time, anywhere with direct access to your mobile browser.
  3. Buy Coins seamlessly: with only four steps to complete the process, it takes just 30 seconds to purchase coins.
Commissions & Fees

KuCoin offers the lowest commissions and fees to its users. At KuCoin exchange, several aspects affect your trading fee level. Look at the following bulletins and discover KuCoin’s method of charging you commissions and fees:

1. Trading Fee Level: To check your trading fee level and current fee, after logging in to your account, click the Fee button via KuCoin’s official website. You will receive a certain number. If your trading fee level is high, your trading fee will be low, even a negative fee rate is possible.

Note: 0.1% maker fee and 0.1% taker fee for above fee levels that are based on trading pairs and these fees do not apply to some of the trading pairs.

  1. Maker/Taker: There is a status a Maker/Taker which also affects your trading fee rate.

2.1 Taker: You will be charged a taker fee as a taker in a Market/Hidden/Iceberg Order.

2.2 Maker: You will be charged a maker fee as a maker in a Limit Order (With Post Only function enabled).

 

Trading Fee Level

KuCoin Hold

30-Day Trade Volume (BTC)

Maker/Taker Fees

KuCoin Pay Fees (Maker/Taker)

24H Withdrawal Amount (BTC)

0

0

<50

0.1%/0.1%

0.08%/0.08%

200

1

1000

≥50

0.09%/0.1%

0.072%/0.08%

200

2

10000

≥200

0.07%/0.09%

0.056%/0.072%

200

3

20000

≥500

0.05%/0.08%

0.04%/0.064%

200

4

30000

≥1000

0.03%/0.07%

0.024%/0.056%

200

5

40000

≥2000

0%/0.07%

0%/0.056%

500

6

50000

≥4000

0%/0.06%

0%/0.048%

500

7

60000

≥8000

0%/0.05%

0%/0.04%

1000

8

70000

≥15000

-0.005%/0.045%

-0.005%/0.036%

1000

9

80000

≥25000

-0.005%/0.04%

-0.005%/0.032%

2000

10

90000

≥40000

-0.005%/0.035%

-0.005%/0.028%

2000

11

100000

≥60000

-0.005%/0.03%

-0.005%/0.024%

3000

12

150000

≥80000

-0.005%/0.025%

-0.005%/0.02%

3000

Resource: https://coinmarketfees.com/exchange/kucoin

How to Deposit & Withdraw Funds With KuCoin

Deposit

You can buy cryptocurrency with fiat money on KuCoin, but you’ll need to do it through a third-party app. It is allowed to make your deposit by credit or debit card through Apple Pay, and Google Pay. However, you can not deposit money by bank transfer. The fees can be steep, and you will need to immediately buy a set amount of one currency. After you decide on the amount you want to deposit, depending on the cryptocurrency you are depositing, it usually takes around 10-20 minutes for the funds to be credited into your KuCoin account.

 Web:

  1. Find “Asset” from the drop-down list in the upper right corner of the website,  and click “Main account (Deposit&Withdraw)”.
  2. On the left side you need to click on the “Deposit” button and select the coin and the account you want to deposit from the drop-down list or you can type in and directly select the coin’s name.
  3. The final step is to select, copy and paste your deposit address into the withdrawal platform, and after this, you will be granted access to deposit coins to KuCoin’s relevant account.

App:

  1. Try to look for the column”Assets”, click “Deposit” and you will be redirected to the deposit interface.
  2. The coin you want to deposit is listed for selection or you can search the coin’s name and directly select it.
  3. Select the account you want to deposit. The last step is to copy your deposit address and paste it into the withdrawal platform. After this, you can deposit coins to your KuCoin account.

 Withdrawal

KuCoin is a digital currency trading platform, and it doesn’t allow and support fiat money withdrawal and trading.

In the majority of cases, within 30 minutes of receiving the request, KuCoin will process your withdrawals.

To make a withdraw you will need to get your account settings prepared. Preparation means to enable phone number with Trading Password or Email with Google 2fa & Trading Password. All of this can be set/reset from the account security settings page.

Web: 

  1. To enter the withdrawal page you will need to log in to your KuCoin account first. The next thing you need to do is to click on “Assets” choose “Main Account from Deposit&Withdraw – “Withdraw”. Next, you will need to scroll down and click on the token you want to withdraw or type in the token name in the search box and select it. 
  2. When you have chosen your desired token, you will need to add the wallet address (consisting of remark name and address) and amount. The last step is to click the  “Confirm” button and carry out the withdrawal. 
  3. Enter your:
  • Trading password,
  • E-mail verification code,
  • Google 2FA code,
  • SMS verification code

With this, you complete all the withdrawal steps.

App:

  1. The very first step is to log in to your KuCoin account, then click “Assets” – “Withdraw” to enter the withdrawal page.
  2. Everything else is the same as in the web procedure.
Staking

To bring more value to its users KuCoin has focused on fulfilling its mission to become the People’s Exchange. KuCoin has launched Soft Staking Program to maximize the benefits for users on the platform.

 The new Soft Staking program of Kucoin approaches the staking completely differently. The traditional staking keeps the investment locked, while KuCoin’s Soft Staking allows users access to their coins at any time. This approach creates a way to use your tokens to earn while still being able to adapt to fluctuations in the market. Because it is not limited by a minimum staking period, users have the opportunity to receive rewards while maintaining the freedom and independence that is so revered in the crypto-world.

Without ever locking their funds Soft Staking allows users to receive staking rewards. KuCoin firstly introduced this concept in July 2019, and quickly caught the attention of over 300,000 users.

Users don’t need to wait for days or months to receive their rewards. This method of staking rewards its users daily. This allows for additional flexibility with portfolio management, as well as quicker and more efficient compounding.

Customer Service

Customer Service

In order to provide a new, supportive and better trading experience for users, KUCOIN has launched a technical support channel. By sending an email to: [email protected] users can contact and consult their technical engineers.

In the process of using KUCOIN products faster and more effectively, the support channel will solve the various problems encountered by users. The technical engineer replies and assists users directly, and then finds the optimal solution to improve the user experience. Any technical cooperation is also allowed to the technical support channel.

Technical Support Range:

  1. An exception occurred while using the API
  2. Network connection failure when using KUCOIN products
  3. API access encountered an error
  4. Incompatible mobile software
  5. Product bugs and security issues
  6. Technical cooperation

KUCOIN Technical Support Channel: [email protected]

KUCOIN API Support Group: https://t.me/KuCoin_API

KUCOIN API Documentation: https://docs.kucoin.com/

Final Thoughts

With extremely low trading fees, a P2P marketplace with no fees, over 250+ cryptocurrencies, and packed full of additional features that advanced traders love, like trading bots, futures, margin trading, and crypto lending KuCoin is one of the most popular cryptocurrency exchanges, and it is extremely interactive network.

If you want to purchase crypto using fiat, there will be a minimum fee of 3% and you also cannot withdraw fiat currency from the exchange which is a limitation that can be the decision making. For those that are new to cryptocurrency, this may not be the best exchange, but for experienced traders, the benefits outweigh the disadvantages.

And that’s the end of the KuCoin review as an exchange. In this review, we have included everything worth spreading about the KuCoins’ exchange network.

Our goal is to represent everything that could be of value for you. So, if you have read it from start to finish, you should now have a good understanding of whether KuCoin is the right exchange for you.

In the end, if you want to take a look at other options, we at Cryptogoldie strongly recommend CoinbaseBinance, and Kraken.

FAQ

How is the KuCoin Bonus calculated?

– KuCoin will calculate your bonus based on how many assets you hold at 00:00, and that is daily. Along with the trading fee of KuCoin Shares KCS for today. All of this is taken into account when calculating the daily bonus for the user. We must mention that the daily bonus varies and depends on the trader. As such, it is impossible to give an exact number.

Why I haven't received my KuCoin bonus?

– To be eligible for the bonus and consequently counted in the bonus system, the user must have six or more KCS. Moreover, even if there is a slight delay in the calculating system, you may not receive the bonus up to 3 days from buying the KCS. The bonus system will determine your bonus by calculating the amount of KCS you have at 00:00, along with the trading fee of KoCoin Shares KCS today. If this amount equals less than 0.00000001, the bonus won’t be credited.

Why do sometimes my assets show to be at zero?

– If this occurs, it is probably an asset display error. If you run into this issue you should rest assured that all of your funds are safe, and available for you to use as you please. To resolve this, just inform the KuCoin team and leave it to them. Just refresh the page a couple of hours later, and the problem should be taken care of.

My ERC20 token withdrawal is not successful, what should I do?

– If by any chance the blockchain transaction fails, you will be required to submit a request in KuCoin’s Help Center. Afterward you just need to fill in the necessary information:

Address of the recipient and Txid (Thash)
Amount and type of coins
Your KuCoin email address
Screenshot of the withdrawal transaction

Can I buy crypto with cash or credit/debit cards?

– KuCoin enables you to purchase crypto with ETH, BTC, USDT, NEO, KCS, and BCH markets. While KuCoin does not support any cash or credit/debit card purchases, you can still buy the designated tokens from a different exchange, and afterward just transfer them to your KuCoin account.

Go to KuCoin