What Is KuCoin?
KuCoin is a well-known third-party cryptocurrency exchange that allows users to trade in a wide range of cryptocurrencies. A cryptocurrency exchange is a platform that facilitates the buying, selling and trading of cryptos in a single convenient place. ‘Third-party’ refers to an independent body that plays a part in a deal. In this case, third-party exchanges often supply traders with cryptocurrencies they use to trade at the bigger exchanges.
KuCoin focuses on offering access to perhaps the biggest selection of cryptos in the market, over 700 in total. Not all of these cryptos may be valuable now, but some may just land up being the next big thing. Hence, traders can try and spot up and coming gems, invest early, and earn big profits in the long run.
How We Reviewed KuCoin:
Freedom of choice is excellent, especially when it comes to making a crypto investment. On the other hand, the problem with having a big selection is knowing which option is the best. In this case we’re referring to cryptocurrency exchanges; there are simply so many that most traders don’t even know where to start.
That’s why we started this site. We are a team of experts in the crypto market, dedicated to investigating everything crypto related on your behalf. We take each review seriously, investigate every lead extensively, and let you know what we find. Our reviews are updated regularly and released on a regular basis. So if you want help in the world of crypto investment you’ve come to the right place.
How Does KuCoin Work?
KuCoin is a cryptocurrency exchange, operating much the same as BitFinex and all other exchanges. Which is to say; KuCoin acts as a portal between traders and various crypto markets. Those that sign up at the platform can buy, trade and sell crypto as they see fit.
As far as KuCoin in particular is concerned the platform is not regulated. This means that traders may engage in trading anonymously, without having to verify or validate identification. Many traders prefer to remain anonymous given the freedom and flexibility it provides, making KuCoin an excellent choice.
What We Rated KuCoin:
Sign-Up Process: 5/5
The KuCoin signup and registration process is quick and convenient. An account can be activated in less than a minute, assuming that the trader does not choose to complete the Know Your Customer (KYC) process. Those that do complete KYC can be registered in roughly 10 minutes, assuming that necessary documents are close at hand.
Deposits and Withdrawals: 4.7/5
Deposits at KuCoin can be made in fiat currency or with crypto. Those that deposit in fiat currency can transact via credit card, debit card, bank transfer or with Google Pay. Withdrawals are equally as convenient, but there is a catch for those that choose to not complete the KYC process. Without KYC successfully completed a withdrawal limit is permanently attached to the account.
Available Assets and Ways to Trade: 5/5
Trading options are where KuCoin shines. The platform provides an incredible 700 cryptos to choose from, making it amongst the biggest exchanges in the world as far as versatility is concerned.
Customer Service: 4.4/5
KuCoin customer support is fast and reliable. Most problems can be solved by checking the FAQ page. It is also possible to contact customer support directly.
Security and Regulation: 4.8/5
KuCoin is not regulated, which may be a problem for some traders. However the platform does take security very seriously, protecting all transactions with advanced encryption technology.
|Type:||Crypto Trade Software|
|Profit Close Rate:||85%+|
|Registration:||Free (KYC optional)|
|Verification:||Under 10 minute (with KYC) Under 1 minute (without KYC)|
|Withdrawal Time:||2 -3 hours|
|Order Execution Time:||Less than 1ms|
|User Data Encryption:||Yes (SHA 256-bit)|
Is KuCoin Legit or a Scam?
Since KuCoin was launched in 2017 and has quickly risen to become one of the most popular crypto exchanges in the industry, boasting over 10 million users. The platform also has optional Know Your Customer (KYC) verification, the purpose of which is to avoid illegal traders accessing the site. The platform includes other industry-standard security features, such as multi-factor authentication. For extra security, KuCoin even offers additional trade specific passwords.
KuCoin Features and Differentiators
KuCoin is mostly known as a platform that focuses on diversity. There are few exchanges that support as many cryptos, making the platform an industry leader in that regard. Though, it is KuCoin’s focus on community that really makes it stand apart. There are over 20 dedicated KuCoin communities around the world, each populated by a diverse host of professional traders. This means that newcomers can easily join a community, interact with other traders, and can quickly get all the help and advice they need.
Design and layout goes a long way when it comes to crypto exchanges. It can, after all, be very frustrating not understanding how to navigate a site. In that regard KuCoin shines, being expertly designed on every level. Experienced and newcomer traders will have no problem finding their way around.
Place Trades Simultaneously
A standout feature of KuCoin is the Trading Bot system. Trading bots are available to all traders, providing all the tools necessary to fully automate an account. By carefully setting Trading Bot parameters an account can be entirely automated.
The best part of the Trading Bot feature is that the system acts completely without emotion. Yes, crypto trading is stressful, but when emotions are removed the task becomes a whole lot easier. In this regard the Trading Bot can be a valuable ally.
Zero Licensing Cost
KuCoin charges zero licensing fees, though does charge a small fee for each transaction. Fees start as low as 0.10%, though do increase depending on the value of the trade.
Everyone knows that crypto trading can be profitable, though just how profitable depends on the individual. KuCoin offers all the tools and special features needed to help traders maximise profits.
Trade Multiple Cryptocurrencies
Forget about just dealing with a small selection of cryptos. KuCoin supports over 700, providing an extraordinary amount of freedom and versatility to traders.
Secure Socket Layer (SSL) protection has become standard in the banking industry. The technology, above all else, aims to add an additional layer of encryption. KuCoin uses this same technology, providing traders with the same security found at traditional banks.
When making a withdrawal from KuCoin completion times are incredibly fast. Most crypto withdrawals take between 2 to 3 hours to finalise. Fiat currency withdrawals may take a bit longer, up to 5 business days.
Customer Support Department
KuCoin offers 24-hour customer service with multiple options, including live chat via phone or email. The platform’s website support page is also useful for those having any sort of basic trouble, including with navigating the site or with using the various features and tools.
Demo Trading Account
Another innovative feature at KuCoin is the demo trading account. Those that are new to crypto trading may be hesitant, which is exactly why demo trading is offered. Demo trading allows for a full simulated trade experience, allowing newcomers the chance to get more familiar with the systems.
How to Register with KuCoin
Registering an account with KuCoin really is a breeze. Those that choose to not complete the KYC process can be done in under a minute. All that is required is a verified email address. For those that complete KYC the process registration is a little longer, but an account should still be registered in under 10 minutes.
1. Registration Form
A registration form is the first step of the sign up process. Simple details will have to be provided, including a name, email address and residential address.
2. Make Your First Deposit
After account registration a first deposit will then have to be made. Those that wish to make a fiat currency deposit can do so with credit card, debit card, bank transfer, or Google Pay. A crypto deposit will require transfer from a wallet, which is also quick and easy.
3. Demo or Live Trade
After making a deposit newcomers can choose to engage with the demo trading system. Experienced users can jump straight to live trading.
Tips for Making the Most of KuCoin
We want crypto traders to succeed, which is why we offer some basic advice on how to make the most of an account. Of course, experienced traders will already know how to go about their own business. For newcomers these tips may lend a helping hand.
Utilise Your Account Broker
KuCoin does not offer any dedicated account broker services.
Invest the Minimum at First
When it comes to investing a cautious approach is always the smartest. Newcomers may feel the need to jump in and start making big investments immediately, but this is not the best approach. It is always best to start by only investing the minimum allowed amount.
Keep Track of Your Cryptos
With over 700 cryptos to choose from keeping track can be challenge. But when it comes to smart trading keeping track is the key to success. Once an investment has been made, or a crypto purchased, it is essential to track those numbers on a daily basis.
Spend 20 Minutes on Your Account Daily
Time investment is as important as financial investment. Veterans recommend that a minimum of 20 minutes be spent on an account daily. Though, naturally, dedicated traders will spend much more time.
Investing money is not a matter to be taken lightly. It is not a good idea to invest money that can’t be lost. Trading, even if the investments are small, should be approached responsibly.
Keep Track of Your Transactions
Keeping track of transactions is also important. Thankfully, KuCoin keeps a log of every transaction made.
The Brief History of Crypto and KuCoin
KuCoin was founded in 2013 by Michael Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhu, and Linda Lin. Though, the platform did not officially launch for business until 2017. Headquartered in the Seychelles, after launch KuCoin quickly gained a reputation as being “the people’s exchange.” The nickname came from the platform’s commitment to communities, with most traders engaging with other hopefuls in dedicated forums.
The low fees and incredible selection of cryptos also drew in traders, quickly gathering the platform a dedicated fan base. Today KuCoin is amongst the busiest amongst the best crypto exchanges in the world.
Alternatives to KuCoin:
Some alternatives to KuCoin include Gemini, Kraken, eToro, Coinbase and more.
Frequently Asked Questions About KuCoin:
What is KuCoin and How Does It Work?
KuCoin is an online cryptocurrency exchange. After signing up traders can buy, trade and sell an enormous selection of cryptos.
How Much Profit Can I Make with KuCoin?
The amount of profit made trading cryptos is very much dependent on the individual traders.
Is KuCoin Free to Use?
Signing up at KuCoin is free. Transactions and trades are charged with a modest fee.
KuCoin App - is One Available?
A dedicated KuCoin app is available for free download.
Where is KuCoin Available?
KuCoin is available in over 200 countries, with plans to expand even further.
KuCoin is a large and well-established global cryptocurrency exchange, offering affordability and an excellent selection of cryptocurrencies. The platform is particularly favoured by the more advanced traders, most of which demand fast and reliable day-to-day trading. The good volumes and liquidity of the platform are also very attractive.
It has been suggested that the platform is less suitable for the average newbie, though this is debatable. It should be kept in mind, however, that KuCoin is unregulated. For this reason it is unlikely that the platform will be doing business in the US anytime soon.