Whether you are looking to buy digital currencies like Bitcoin and Ethereum with a debit/credit card or trade crypto-to-crypto pairs – KuCoin covers both bases.
The global exchange and third-party broker is home to some of the largest trading volumes in the space, alongside a fee-structure that should suit most budgets.
In this guide, we review the ins and outs of KuCoin. This includes an in-depth look at the platform’s supported coins, fiat currency facilities, fees and commissions, safety, customer support, and trading arena.
What is KuCoin?
Launched as recently as 2017, KuCoin is a cryptocurrency exchange that also offers third-party brokerage services. Although the platform has just three years of trading history, it is now one of the largest cryptocurrency exchanges in the space.
One of the main reasons for this is that you will find over 200 coins with about 450 cryptocurrency pairs hosted at the exchange. Not only does this include major pairs like BTC/USDT and ETH/USDT, but heaps of crypto-cross pairs. Best of all, if you have an appetite to trade a less liquid ERC-20 token, chances are you will find it at KuCoin.
KuCoin was initially a cryptocurrency-only platform, meaning that you could not deposit funds with fiat currency. However, the platform has since formed a partnership with Simplex – a European payment provider that bridges the gap between cryptocurrencies and everyday money.
When it comes to cryptocurrency trading fees, KuCoin charges just 0.10%. This puts it on par with the likes of Binance. Similarly, KuCoin is also behind its own digital token – KuCoin Shares (KCS). By owning and storing KCS tokens, you will benefit from discounted trading fees, as well as an entitlement to a share of the trading commissions that KuCoin collects.
In terms of the numbers, KuCoin claims to have facilitated more than 650 million individual trades since its inception in 2017. This translates to more than $71 billion in accumulated trading volumes.
Finally – and as we cover in more detail further down, KuCoin is not regulated by a national licensing body. Although this means that you will be able to trade cryptocurrencies without supplying any ID, this won’t be the case if you wish to buy digital coins with a debit/credit card through Simplex.
What can you Trade at KuCoin?
KuCoin offers a vast range of financial instruments that goes above and beyond just crypto-to-crypto pairs. On the contrary, the platform also offers cryptocurrency indexes, margin trading, and even futures.
Let’s explore each asset class in more detail.
Crypto-to-Crypto Pairs
Each and every trading pair at KuCoin falls within the remit of crypto-to-crypto, not least because it does not offer any fiat-denominated instruments. Instead, you will need to trade your chosen cryptocurrency against the USDT if you want access to the crypto-to-USD space.
If you’re a seasoned cryptocurrency trader then you will know first hand that this is industry standard anyway, so you’ll have no issues with trading volumes or liquidity.
Outside of USDT, you can trade crypto-cross pairs. Examples of this include BTC/ETH, ETH/XRP, and BSC/BTC. Ultimately, listing each and every trading digital currency is beyond the remit of this review, albeit, rest assured that the platform hosts more than 450 pairs.
Crucially, KuCoin is often one of the very first exchanges that newly launched cryptocurrency token projects opt for. As such, support for less liquid digital tokens is something that the team at KuCoin actively look to facilitate.
For a full breakdown of each and every pair that KuCoin hosts, you can find this information here at CoinMarketCap.
KuCoin Indexes
On top of traditional crypto-cross pairs, KuCoin also offers a number of indexes. The concept here is that KuCoin will take the weighted average of a specific cryptocurrency across several leading exchanges.
This is with the view of offering a more accurate price of the coin in question, as it takes into account the variations that you often find between competing platforms.
KuCoin indexes are available across:
- Bitcoin
- Ethereum
- Ripple
- Litecoin
The cryptocurrency exchanges that KuCoin derives its pricing activity from are:
- Coinbase
- Bitstamp
- Kraken
- Gemini
- Bittrex
- Liquid
The price of each index is denominated in USD, but settled in the respective cryptocurrency.
KuCoin Futures
Launched in mid-2019, the KuCoin Mercantile Exchange allows you to trade Bitcoin futures. KuCoin itself notes that it is looking to challenge the likes of BitMEX in this particular area of the cryptocurrency derivative space. As a result, you will have access to Bitcoin futures alongside a substantial margin position of up to 100x.
In simple terms, this means that a $100 account balance would permit a maximum trade value of $10,000. When it comes to the underlying spot price, KuCoin once again takes the weighted average from various leading exchanges – such as Kraken, Coinbase Pro, and Bitstamp.
At the time of writing, KuCoin only supports BTC and ETH futures, although it hopes to add further digital currencies in the near future. When it comes to fees, expect to pay 0.060% as a market taker, and 0.020% as a maker. There are also settlement fees of 0.025%.
Trading Fees and Commissions
First and foremost, there are no fees associated with cryptocurrency deposits, and withdrawals are charged at the standard mining rate as per the coin you are looking to cash out.
When it comes to trading fees outside of the futures arena, you will pay 0.1%. This means that a $10,000 trade would cost you $10 in fees. As we briefly mentioned earlier, this sits in-line with fellow exchange counterpart Binance.
KuCoin Shares (KCS)
KuCoin Shares – or simply KCS, is a proprietary cryptocurrency token created by the exchange. By owning and holding KCS tokens you will be accustomed to a number of benefits.
This includes:
Discounted Trading Fees
One of the most notable benefits of holding KuCoin Shares is that you will get discounted trading fees. Crucially, while a standard fee of 0.1% is industry-leading, you stand the potential to reduce this by an additional 20%. What you need to do is to simply turn on the KCS Pay Fee button and enjoy the discount.
Dividends
On top of reducing your trading commissions, holding an allocation of KuCoin Shares affords you the opportunity to earn dividends. In a nutshell, KuCoin as a platform will distribute 50% of the trading commissions that it collects from members each and every day.
This is then distributed proportionately across all holders of KuCoin Shares. For example, let’s suppose that you hold 1% of the entire KCS supply. If the platform pays out $250,000 in commissions, you would receive $2,500. You need to hold at least 6 KCS to benefit from the dividends.
Price History and Buying KuCoin Shares
To say the value of KuCoin Shares has capitulated since its all-time highs of January 2018 would be an understatement. At a peak of over $20 each, you can now obtain the very same tokens for less than $1 in mid-2020.
Nevertheless, if you do want to get your hands on KuCoin Shares you can do this by exchanging them at the platform for an alternative cryptocurrency like Bitcoin or Ethereum.
Fiat Currency Facilities at KuCoin
As the end of 2018, KuCoin has since formed a partnership with European-based payment provider Simplex. The partnership ensures that users from over 100 countries can now deposit real-world funds with a debit or credit card.
This is ideal if you are looking to trade cryptocurrencies, futures at KuCoin but you do not have any digital currencies available to you. Instead, you can simply enter your debit/credit card details and get cash directly into the platform.
With that being said, it is important to note that the fees associated with this are not cheap. Although the occasional promotion is offered on deposit fees, this will cost you a whopping 2.5 – 3.5% (with a $10 minimum).
This means that a $1000 debit/credit card deposit would cost you $25 in fees. It is noticed that this is slightly cheaper than the likes of Coinbase, which charges 3.99% (with various minimums in place).
Also, KuCoin is developing an OTC Trading Desk, on which all users could buy and sell major coins like BTC, USDT, PAX without any fee. The OTC platform currently supports USD, CAD, CNY, IDR and VND.
Trading Platforms
KuCoin offers a proprietary trading platform that was built from the ground-up. There is no requirement to download or install any software to your desktop device, as the KuCoin trading arena can be accessed through your standard web browser. The platform is potentially suited to both newbie investors and seasoned traders.
The reason we say this is that while the platform is super-clean and easy to navigate through, there are heaps of advanced tools available at your disposal. In fact, you have the ability to fully customize your KuCoin trading screen however you see fit.
When it comes to trading volumes and the availability of liquidity, you should have no concerns at all when trading more popular pairs. You might, however, find that volumes are low on less liquid pairs – especially those involving ERC-20 tokens.
Mobile Trading
If you have a tendency to buy, sell, and trade cryptocurrencies on the move, then you might be interested in the KuCoin mobile trading app.
The application is available to download on iOS and Android devices. You will have access to most account features on the app, such as placing orders, checking the value of your portfolio, and depositing and withdrawing funds.
How Long do Withdrawals Take at KuCoin?
In the vast majority of cases, KuCoin will process your withdrawals within 30 minutes of receiving the request. The platform notes that this is automated, and that manual authorization is only required if the size of your deposit is larger than 100,000 times that of the handling fee (mining fee).
Once the funds leave KuCoin, they will be transferred to the cryptocurrency wallet address of your choosing. Make sure that the address is valid, as there is nothing that KuCoin can do if you make an error!
Earn Interest at KuCoin
An additional feature available at KuCoin is that of its lending program. In its most basic form, you stand the chance of earning interest on your digital currency holdings by loaning it out. The main concept is that the tokens will be used to help fund margin accounts.
For example, let’s suppose that a KuCoin trader decides to apply leverage of 10x on an order. For each day that the position is kept open overnight, the trader would need to pay interest. This is because they are trading with more than they have in their account and thus – this comes at a cost.
With that said, KuCoin has opened its doors to everyday investors by giving you the opportunity to fund margin positions. This is available on several coins – including USDT, Bitcoin, Ethereum, Litecoin, EOS, and many more.
In terms of the specific interest rate, this will vary from coin to coin. As an example, by lending out Bitcoin for 28 days, you could be earning an annualized interest rate of 4.83%.
If this is something that you are interested in exploring, KuCoin offers a profit estimation calculator. You simply need to specify how much you are willing to lend out, on what digital currency, and for what length of time – and the calculator will advise you how much you can earn.
It is important to remember that although the rates of interest on offer are super-competitive, you must consider the risks associated with this. After all, KuCoin is not a regulated cryptocurrency exchange so you must factor this into your risk vs reward model.
Is KuCoin Safe?
As is the case with all cryptocurrency exchanges, it is crucial that you are able to ascertain whether or not KuCoin is safe. Not only does this include the platform’s regulatory standing, but its internal and external security practices, too.
Let’s break these metrics down in more detail.
Regulation
In a nutshell, KuCoin is not regulated by any national licensing bodies. This isn’t a major surprise in the cryptocurrency exchange arena, as lots of platforms choose to operate without a license. Whether or not you feel comfortable trading at an unregulated exchange depends on what side of the fence you sit on.
For example, if you are the type of trader that prefers to buy and sell cryptocurrency pairs in an anonymous nature, then there is every chance that a platform like KuCoin is suitable for your needs. At the other end of the spectrum, if you are the type of trader that demands a regulatory safeguard of some sort, then KuCoin might not suffice.
KYC
As noted above, KuCoin is not required to ask you for any personal information – nor will they demand sensitive identity documents. However, the one exception to this rule is if you plan to deposit funds with a debit or credit card through the Simplex integration.
In fact, in order to remain compliant with all relevant laws surrounding anti-money laundering, you will need to upload a copy of your government-issued ID (passport or driver’s license). This is just the nature of the game when using fiat currency at a crypto-exchange.
KuCoin Security Practices
In terms of internal security practices, KuCoin claims to run institutional-grade systems that ensures it keeps crime away from the platform. This is fully supported by a commitment to cold storage.
Although the exact percentage is not specified by KuCoin, it is claimed that the vast bulk of client funds are held offline. The remainder is kept in hot wallets to ensure the platform is able to meet its offering of near-instant and automated withdrawals.
To date, there have been no publications of KuCoin encountering a major hack of any sort, which is an excellent sign. With that said, you always need to ensure you understand the risks of a potential external hack, as your funds are being stored in wallets that you do not personally control.
Also, it is worth noting that in April 2020, KuCoin completed a strategic cooperation with Onchain Custodian, Singapore’s crypto asset custody platform. Onchain Custodian will offer custody service for the safekeeping of KuCoin crypto assets. The custodial funds will be backed by Lockton, the world’s largest private insurance brokerage company. This is believed to further enhance the exchange’s security level.
2FA
Best of all, KuCoin allows you to install two-factor authentication (2FA) on your account. This means that a unique code will be sent to your mobile device whenever you wish to perform key account functions. This includes logging into your account and making a withdrawal request.
KuCoin Customer Support
When it comes to customer service, the team at KuCoin provides an around the clock support team that operates 24 hours per day – 7 days per week. You can send the team an email, albeit, if you need instant one-on-one support you are best advised to use the live chat facility.
Sentiment on this is somewhat mixed in the public domain. With some users reporting connection times in the seconds, others have noted that waiting times are beyond acceptable. With that said, it all depends on how busy the team is at the time of the request. There is no telephone support service offered.
How to get Started at KuCoin
Like the sound of KuCoin and think the platform is suitable for your long-term trading needs? If so, we are now going to show you what you need to do to get started with a trading account today.
Step 1: Open an Account
To get the ball rolling, head over to the KuCoin homepage and click on the ‘Sign Up’ button at the top of the screen. You will then be prompted to enter your email address and to choose a strong password.
You will need to verify your email address before linking up 2FA via your mobile phone. At this stage of the registration process, you will not be asked for any personal information.
Step 2: Deposit Funds
Once you have opened your KuCoin account you will then be promoted to deposit some funds. In this respect, you have two options. If you already possess a digital token, you can deposit this straight into KuCoin.
Simply head over to the deposit page and search for the respective coin. Then, click on the deposit tab to reveal your unique wallet address for that specific cryptocurrency.
Copy the address to your clipboard, head over to your private wallet, specify the number of coins you wish to deposit, and confirm the transaction.
Depending on the cryptocurrency you are depositing, it typically takes around 10-20 minutes for the funds to be credited into your KuCoin account.
Fiat Currency Deposit
If you do not have access to a digital currency, you will need to deposit funds with your debit or credit card. Hover over the ‘Buy Crypto’ button and then click on ‘Buy with Credit Card’.
Follow the step-by-step instructions that are presented to you on screen. Crucially, you will be asked to verify your identity before you are able to use your debit/credit card. The end-to-end process is taken care of by Simplex.
Step 3: Start Trading
As soon as your KuCoin account has been funded, you are ready to start trading. The specific trading arena that you need will depend on the type of financial instrument you are looking to access. This is because KuCoin separates its cryptocurrency exchange and future derivative platforms.
KuCoin Review: The Verdict?
In summary, it is clear to see why KuCoin is now one of the most popular cryptocurrency exchanges in the space. Not only does it give you access to over 450 cryptocurrency pairs, but you can also trade crypto-specific indexes and Bitcoin futures.
Moreover, standard trading fees amount to just 0.1%, which you can reduce by an additional 20% by paying fee with KuCoin Shares. We also like the fact that you can now deposit funds with a debit or credit card, albeit, you will need to bypass a KYC process first.
The main gripe that we have with KuCoin is that it is not a regulated entity. While this does mean that you can trade crypto-to-crypto pairs anonymously, your funds are never 100% safe.
On the flip side, reports about a KuCoin hack are yet to surface since its inception in 2017 – which is an excellent sign.
Kucoin
Pros
- Transparent & Reasonable Fees
- Good Support
- Easy to Use
- Futures & Margin Trading
- Options for Earning
Cons
- Not Regulated
48 Comments
Made a withdrawal yesterday! Great platform indeed! Thanks!
loving this platform.joined short time ago but think this and binance to be best and ease of use.love it
Until something goes wrong then you find out how bad they are … im guessing you’ve never tried accessing there customer service.
Loving this exchange! It has a great design and I think it has a lot of room to grow! Would highly recommend getting some KCS as well!
2 factor authentication not working… will not issue codes?
I had the same problem. Did you figure out the issue?
yo le di sincronizar la hora en el google authenticator y se solucionó el problema
Deposited NEO and 30 minutes later nothing in my account. 64 confirmations and still NOT showing up in my KUCOIN account. I will wait a bit more before contacting KUCOIN support. I also checked on neotracker.io and my 13 NEOs are there but the KUCOIN exchange does not reflect my balance of 13.
Any comments are appreciated, if you went through the same delays, just let me know how long it took to get displayed in KUCOIN account. Thanks.
Hi Corey,
Log out and then in.
Sorted mine!
UPDATE: I read on REDDIT that the NEO deposit was slow but appeared a few hours later. I’ll be patient. As long as i know it will show up in my account but frustrating because i wanted to buy other coin.
An excellent service, easy and quick to sign up.
Pro’s – they process NEO allowing you to earn GAS on their platform.
Con’s – Nothing in the FAQ and, whilst I haven’t needed it, I cannot find a help option.
I’d really like to know what the [hold] label is for and how I get ‘other’ labels.
Thanks
Mick
Can anyone who uses Kucoin please HELP .?
I’ve transferred two lite coin from Coinbase to Kucoin today ( very easy to do ) but have then spent the next 4 hours trying to work out how on earth I buy dogecoin with my lite coin …it’s driving me crazy……if you can help please keep it super simple if you can as I’m new to Kucoin
Think Kucoin for dummies / 5 year olds !!!
Thanks
Find “Markets” at top. Then your LTC could by exchanged to ETC, BTC, NEO.
I am in US , do i need to submit any docs or SSN for verification ? What is required for opening an account.
Can i purchase using US dollars or which coins can traded for purchasing altcoins ? Please share your thoughts.
I am also living in U.S can I use kucoin here, please let me know,I do know you can’t use usd you have to trade ltc/btc/eth ect.
I made my deposit into coinbase wallet and then send coins to the corresponding wallet on kucoin. Anytime I want to buy more I just go through coinbase. Everything I read told me to do it that way.
I did the same thing – works good for me too…
I found Kucoin looking for both Neo ICOs and also coins that pay dividends. Kucoin is a great exchange and has many exclusive coins and tokens such as qlink, rpx, and dbc. They are also adding new coins it seems every single day. They have my favorite deposit and withdraw screens as well. That said they do also have many issues with connectivity, I don’t mind as it’s a new exchange and experiencing rapid growth but if it’s happening in year still I’ll probably look elsewhere.
KCS also pays great dividends, it’s a Kucoin currency only usable on their exchange (like BNB) but offers a legit reward system. Exchange fees are basically split amongst the holders. The price has gone way up recently but I’d say 250+ KCS should be your goal to make the investment worth it.
wait till you have a issue and need it resolved … you will see how bad they are then…
WAs your problem with un binding 2 FA? I recently changed phones and therefore needed to unbind my 2FA to access my account, I have been waiting since 15th April?? Hope it’s resolved soon.
I’m stuck on trying to use some of my bitcoin to buy another coin (dbc)
In the markets section in the bottom right hand corner of the screen there is a section saying
BUY DBC and another saying SELL DBC
directly under the buy tab is a box saying
Price ….best price. 0.0002484 btc and directly below that box is another box saying max = dbc
HOW THE HELL DO YOU USE THOSE TWO BOXES THEY DONT MAKE SENSE TO ME …ANYONE PLEASE PLEASE HELP !!!
Thanks
I accidentally sent ETH to ETC address on Kucoin. Can it be recovered.
I accidentally send btc to ustd address and they asked me 0.5 eth for give me support 🙁
Thank you for this great article! Could you please tell me, how to transfer Bitcoin from for example Blockchain to Kucoin? And from Coinbase to Kucoin?
I would appreciate your answer!
Best
totally worth signing up!
You get % share of fees if you hold their tokens. I bought £5k in KCS in October. Made £422 back in under 4 months (haven’t actually sold the coins given though!)
Good afternoon,
I am trying to transfer Bitcoin from Coinbase to Kucoin but I can’t.
In Kucoin I am going to deposit and they are asking me to do as follows:
1) Install Google authentificator…done!
2) open google authentificartor and introduce the code…done!
3)Imput the number you get…done!
After that, they are asking me for another number but I don’t receive any other number…
Can you help me, please?
Many thanks in advance!
I made my first two transactions on Friday 5th January from my Coinbase account to the Kucoin to purchase Kucoin and Poet.
The first transaction was at 18:26 for the sum of £242.37 in ETH – 0.34796 (Confirmation number 9656) and the second transaction was for £239.63 in ETH – 0.34403037 at 18:35 (Confirmation number 9667).
The address I put in the Coinbase was the one given on the Kucoin site, see below:
0x0d2c73dae57623e4174184cdcc3c6a1b62b72904 (my wallet address on Kucoin)
The amounts have not arrived into my Kucoin account, this was my first transaction and I am a little worried due to the amount, which is a lot to me.
Please could you possibly look into where the funds/ coins are now.
A worried novice crypto trader
had same issue looks like thats a thing with KUCOIN did they ever recover your funds
I have an account with KuCoin and when I set up my account I enabled the Google 2-Step verification code. I downloaded the app. Unfortunately, I did not write down the key. When I try to sign in now it asks for the verification code. I can’t sign in without scanning the barcode. However, in order to scan the barcode don’t I need to be signed in? I am very confused with how to sign in. Can someone please help me with how to sign in?
Open the google app authenticator you downloaded and it will give you the key which you will input in kucoin.
HI there, i have the same problem, and you need to ask to ‘unbind’ the 2FA and then re do?? I am still waiting for Kucoin to action this?
So, I want to buy into kucoin. I want to deposit money into the site to start buying. But they are telling me i have to sign up with another company and buy coins or tokens with them and transfer them over. why would I do that? i’m just going to stay with the company I started with. I’m so lost
You need to purchase Bitcoin or Ethererum to trade for other currencies. You can do that on coinbase quite easily and send over to Kucoin. You can’t purchase most cryptocurrencies with fiat.
when i sell for a coin, does it revert back to ETH or BTC? How do I recover and send back to Coinbase?
What is equivalent to available assets and equivalent to reserved assets? How do I convert trades back to ETH or BTC?
Great Platform Kucoin, But I would appreciate more, if they and Fiat to BTC.
Anyone know where KuCoin is located?
The source servers are in Tokyo, Japan.
Do you know their number
I have the same problem with KuCoin support. All I get from them are pre-drafted replies. Infuriating. My first contact with them was Jan 3rd as well. Last summer I went through something similar with Poloniex customer support but they did eventually get to my support ticket (2.5 months later). Hopefully, KuCoin will do better.
I made my first deposit onto KuCoin. I purchased ETH with USD outside KuCoin. Then, used the deposit feature in KuCoin. With the token I wanted paired with ETH, I was able to buy. I like the Buy/Sell link. Fast and straightforward. Though the graphs are cool and pretty to look at, especially when a frenzy is in progress with the buys and sells scrolling by.
I was hesitant to try it being new to the crypto scene. I’ve stuck to the plan of trying small amounts to make sure I become familiar with the layout, interface, features, etc.
I am a U.S. citizen. I was able to upload a driver’s license and proof of residency. A text is on the verification screen saying that an audit is being done, but I can use the site to buy and sell.
I have read not to leave assets in an exchange for too long. I’m looking for a wallet to store KuCoins (KCS) once I purchase them. I use mew/MetaMask. I found the section to store a token using a contract address, but I am unsure that is the way to save off KCS. The article states “KCS works with all Ethereum wallets, as it is a decentralized cryptocurrency based on Ethereum.”
Does anyone have any experience to store off KCS coins?
Thanks.
I can’t login to my legit account, where I have $10k coins, tried to contact support hundreds of times but they never reply to my email over 3 months.
I would avoid Kucoin as much as possible. Their contests are manipulated and have all sorts of fraud. They payout KCS shares and old user referral bonuses irregularly and never with the correct amount. They change dates on policies and lie about it. There customer service is horrible. Enough said, look elsewhere. I have proof of all that I comment on here. I can supply you with pictures, conversations, and enough evidence to strongly alter this review which you should consider being that your reputation is on a 9+ review. Thanks for your time.
Bravo, tres interessant ! 🙂
anyone know where I can find the personalized invitation link to share with my friends?
thanks
that promotion has ended sadly. I just missed it and have invited several new people since! Bad timing for me!
REALLY VERY BAD !
I registered january 3 and deposited 0.149 Bitcoin.
However forgot to copy the secret key for the 2FA authorization, which ofcourse is my fault.
I mailed the first request to unbind my 2FA directly after on january 3.
After 2 weeks and several mails i got feedback, to fill in several data to prove my identity, logically.
I returned everything immediatly. NOTHING HAPPENED
Than the last 2 months, i mailed about 30 times with the same request, begging, arguing, ennoyed.
After 5 weeks, i got the same standard mail, again asking for data proving my identity, again from a certain Mandy
I did send it again, ennoyed, statint that is did send it 6 week ago the same data and ID
Untill now NOTHING HAPPENED, no reply, no whatever, no unbinding,.
Still after 2 months i can not retrieve my money !!
Really the WORST EXPERIENCE !!
Adrian Timmering, The Netherlands
While most of these factors are no doubt encouraging to those users who are considering Kucoin, you have to take the words with a pinch of salt. They are still a new exchange and they may not have had the extensive exchange hack attempts that more established competitors have had.