KuCoin Reviews in 2024 are excellent - Here is why!

KuCoin Review Contents

• Overview
• Services offered
• Payment and payout methods
• Fees
• Currencies supported
• Countries available
• Security
• Support

Overview

KuCoin is a cryptocurrency exchange launched in 2017 and operates in Seychelles. It is one of the largest DCE in the world in terms of the trading volume. The platform is known as “The People’s Exchange” for being an early adopter of new digital coins. The exchange offers a variety of services, regular spot exchange, margin trading, crypto contracts and more. KuCoin provides services in 200+ countries and has a native cryptocurrency called KuCoin Shares (KCS) used for it’s ICO and which also is used in loyalty scheme for end users.

Services offered

Spot Trade – It’s the basic functionality of most of the exchanges. You put your ask or bid price for a specific asset, then it goes to the order book where matching transactions are carried out.

Margin Trade – Allows it’s users to borrow money to create a leverage so they can buy more assets. This practice may multiply ones gains, as well as losses so use it with caution.

Contract (Futures) – Futures, also called futures contracts, allows users to lock in the price of the digital asset. This allows users to speculate on the future price of the digital asset.

Staking – Is an alternative to mining. While miners receive a new crypto token based on amount of calculations they made, stacking can earn a crypto by confirming operations on the blockchain. You must own an crypto currency to be able to stack it.

Pool-X – An exchange that provides liquidity for staked digital assets. Users can trade the staked crypto in the platform and obtain liquidity.

Lending – In an alternative to the regular loans. The loan is provided for the fixed amount of time and with on agreed interest rate. The user can choose to lend a stablecoin, bitcon or alt-coins

Payment and payout methods

KuCoin offers various payment methods which are processed by the third party gateways like simplex, banxa and mobilium.

• Debit/credit cards,
• Bank transfers, including: SEPA transfer (for transfers in euro within 36 countries, 27 of which are members of the European Union, all being members of the Single Euro Payments Area). SEPA transfers take up to 7 calendar days to be processed. It is suggested for large amount transactions, euro transactions and withdrawals;
• ApplePay.

Fees

KuCoin fees are known to be one of the lowest in the industry.

• KuCoin charges its users on average 0.1% fee on every transaction. The higher the trading volume is (cumulative 30-day trading volume), the lower the fee is.
• If a user uses KuCoin Shares (KCS) to cover fees, they can get a  20% discount on both spot or margin trade.
• A user needs to consider a withdrawal fee. KuCoin charges a flat fee for each withdrawal – to cover the transaction costs of moving the cryptocurrency out of user’s account.

To check the current rates, please check the KuKocin website.

Currencies supported

KuCoin supports different cryptocurrencies (the options of buying/selling might be different for some countries). In company’s portfolio, a user might find the most popular tokens and many more. Those include:

Some currencies offered are subject to different trading options.

Countries available

KuCoin is available in most of the countries in the world. However there might be limitations to the transaction types and trading volumes for the users from countries outside of jurisdictions with approved Know-Your-Customer (KYC) rules.

Security

KuCoin declares to be devoted to customers’ security. Here are some examples of security measures applied that we covered in our KuCoin review.

• Tradable assets stored on a hot wallets are insured.
• Most of the customer’s digital assets are stored in a more secure cold wallets.
• Web communication is TLS (former SSL) encrypted;
• Two-factor authentication (2FA) – for better authentication of the users, done by TOTP through an external app, SMS text, or a voice call;
• Bug bounty program – financial motivation for ethical hackers.

Support

• KuCoin offers a wide knowledge base, guiding its users through the crypto trading journey.
• Users of KuCoin have access to 24/7 support via email, chat bot or a ticketing system – where a user can submit any question or report a scam.