KuCoin stands out as one of the few cryptocurrency exchanges supporting over 700 cryptocurrencies. Given its advanced trading tools, capabilities in futures trading, management of derivatives, perpetual contracts, and more, a thorough review of KuCoin is essential to grasp the full spectrum of this prominent crypto platform. This comprehensive KuCoin review will dive into its offerings and provide insights into customer support, security, and user experience, drawing from real-time tests.
KuCoin
kucoin.com%22 loading="lazy" data-src="kucoin-logo.jpeg.html">- KuCoin
- KuCoin review: Overall assessment
- What is KuCoin?
- What can I trade on KuCoin?
- Where is KuCoin available?
- U.S. prosecutors charge Kucoin with AML violations
- How to sign up for KuCoin in 2024?
- Welcome offer/bonus
- How does KuCoin compare to others?
- Features and tools from KuCoin
- KuCoin review: How’s the user experience?
- Does KuCoin have any fees?
- Staking on KuCoin
- KuCoin review: Pros and cons
- Customer support
- How we have tested KuCoin
- Regulatory compliance and safety
- Invest responsibly
- Is KuCoin the right cryptocurrency exchange for you?
- Frequently asked questions
KuCoin review: Overall assessment
For those with limited time, our structured assessment provides a concise overview of KuCoin. Here’s a detailed analysis across critical parameters.
| Criteria | Supported cryptocurrencies | Supported fiat currencies | Fees | Features | User experience | Customer support | Security (past breaches) | Our overall score |
| Score | 4.5/5 | 4/5 | 4/5 | 5/5 | 4.5/5 | 4/5 | 3.5/5 | 4.3 |
What is KuCoin?
KuCoin is a top-rated cryptocurrency exchange boasting advanced features. Anyone who wants a one-stop exchange for spot trading and futures trading, trading perpetual contracts, and derivatives should be keen to know more about this platform.
Since its inception in 2017, KuCoin has steadily navigated the crypto space. However, 2020 became KuCoin’s defining moment. That year, it surged into the top five rankings of crypto exchanges as per CoinMarketCap’s rankings.
KuCoin has confidently maintained its esteemed position since then. As a result of its unwavering performance, it has earned a stellar reputation among traders. Today, thanks to its continuous dedication to user experience and innovation, many in the industry view KuCoin as a top-tier choice.
Important numbers
As of October 2023, KuCoin has 725 cryptocurrencies and 1309 trading pairs or markets — second only after Binance. Plus, it supports the highest number of fiat currencies out of any popular cryptocurrency exchange — 48 and counting.
KuCoin has also released its proof-of-reserves report, showing that user funds are safe. Here is what the PoR allocation looks like for the KuCoin trading platform.
What can I trade on KuCoin?
At KuCoin, recognized as the world’s premier crypto exchange, you can not only trade futures but also explore numerous other options. By clicking “Trade” on the website’s top, you’ll find access to spot trading, margin trading, trading bots, and more.
Moreover, KuCoin offers trading opportunities for over 700 cryptocurrencies. While all cryptocurrencies support spot trading, you can also dive into derivatives, benefit from leveraged trading, and discover other features on KuCoin.
Where is KuCoin available?
KuCoin is based out of Seychelles but has offices in Singapore and Hong Kong. As a trading platform, it is accessible in over 200 countries. To date, the exchange has over 30 million users. However, Kucoin is not allowed to service U.S. customers, due to U.S. regulations.
U.S. prosecutors charge Kucoin with AML violations
On March 26, 2024, U.S. Attorney Damian Williams (NYSD) and Special Agent Darren McCormack (HSI) unsealed an indictment of Kucoin and its founders Chun Gan and Ke Tang.
The document alleges that Kucoin and its founders knowingly solicited and serviced U.S. customers and failed to implement KYC AML (know your customer/anti-money laundering) stop gaps. It goes on to detail how the exchange allegedly operated a money transmitting business and has been a futures commission merchant (FCM) since 2019.
Under U.S. laws, any money service business (MSB) must register with FinCEN, and any FCM must register with the CFTC. As a result, the CFTC filed a civil indictment.
Special Agent McCormack described Kucoin as “an alleged multibillion-dollar criminal conspiracy,” while Attorney Williams would go on to allege that the platform has received over $5 billion in illicit funds.
In response to the news, Kucoin has experienced outflows totaling $1 billion, in the wake of concerned customers. However, Kucoin reassured customers that funds are safe and that business operations resume as normal.
How to sign up for KuCoin in 2024?
KuCoin offers a user-friendly platform for digital asset trading. As with most exchanges, ensuring the security and legitimacy of its users is paramount. Thus, before diving into the vast world of crypto trading on KuCoin, one must follow a straightforward sign-up and KYC verification process.
Step 1: Visit the official website and sign up for an account.
Step 2: Verify your email by checking your email for a verification code from KuCoin. Enter the verification code on the KuCoin sign-up page to verify your email.
Step 3: Log in using your email and password, and once logged in, head to your account dashboard. If you have an individual account, please select Identity Verification and then Individual Verification, then click Verify Now to fill in your information and verify KYC.
Step 4: Upload your identity documents; depending on your region, you will be asked to upload certain types of documents. Commonly requested documents include a passport, National ID, or driving license. You’ll also have to upload a live portrait.
After finalizing your details, the system promptly sends them for evaluation. Subsequently, upon a successful assessment, you’ll have completed the standard Identity Verification procedure. For a comprehensive overview, you can access the results directly on the Identity Verification page.
Welcome offer/bonus
After signing up, new users get a chance to earn rewards. By finalizing their initial deposit or crypto purchase, executing their first trade, and engaging in pro trading, users can qualify for benefits that encompass USDT and coupons valued at up to 3,200 USDT. However, to ensure eligibility, users must diligently complete these tasks within a 30-day period after establishing their KuCoin account.
How does KuCoin compare to others?
Still on the fence about signing up and grabbing that welcome bonus? Perhaps the comparative analysis of KuCoin will change your mind. Let us see how KuCoin compares to some of the leading names in the crypto space.
KuCoin vs. Binance
Even though KuCoin offers a wide range of cryptocurrencies to choose from, Binance is still the market leader when it comes to the type of crypto assets. Plus, it has a dedicated U.S.-centric arm, a nation KuCoin serves half-heartedly without KYC support. Yet, KuCoin is a more beginner-friendly exchange and trumps Binance on paper, especially with its support for over 700 cryptocurrencies.
KuCoin vs. Kraken
Kraken is one of the top-rated KuCoin alternatives and stands out due to its strong security posture. If you are an advanced trader, Kraken has something called the “Dark Pool” functionality, allowing you to trade large volumes of any crypto asset without impacting the market. KuCoin, however, makes its presence felt in regards to the “Earn” feature, offering tools like savings, staking, shark fin, snowball, and other passive income generators.
KuCoin vs. Coinbase
Well, the name itself is enough. Coinbase is U.S.-regulated and can serve U.S. users without breaking a sweat. In contrast, KuCoin makes for a more affordable exchange, courtesy of its flat 0.1% trading fee for popular crypto pairs.
KuCoin vs. Bitfinex
This KuCoin alternative has a decent record regarding customer service. Plus, it has a pretty strong P2P financing market, allowing one set of users to lend funds to others. However, if you are more interested in trading multiple cryptocurrencies, KuCoin seems like a better bet.
KuCoin vs. Gemini
If you seek a reliable crypto exchange that offers insured deposits and the smoothest possible mobile trading experience, Gemini comes across as the go-to KuCoin alternative. But if you are into targeted and structured passive earning products, KuCoin is a better option.
Also, if you want to look for holistic exchanges offering services related to crypto, forex trading, and more, eToro can be considered a good option. eToro or even AvaTrade also brings crypto CFDs (contracts for differences) in addition to forex, standard crypto spot trading services, and more.
Features and tools from KuCoin
KuCoin trading tools are the best in the business. Let us get up close and personal with each of its offerings.
The trading consortium
If you are into crypto trading, KuCoin has tools for every occasion. From being able to execute fast trades via direct card-based purchases to peer-to-peer trades, third-party payments, and KuCoin-specific fiat deposits, this platform has everything to facilitate simple and quick trades.
KuCoin also has a detailed trading dashboard to access. This includes access to spot trading, margin trading — both cross and isolated — and even quick crypto conversions.
Plus, KuCoin trading tools also include access to derivatives in the form of futures trading, with 219 tradable contracts on offer at press time. KuCoin is one of the few exchanges offering access to leveraged tokens that represent derivatives but as simple, bespoke, and easy-to-understand tokens.
Trading bots
If you are a pro trader looking to automate a host of trading strategies, KuCoin has you covered. From getting hold of different grid trading bots, including spot, futures, and Infinity, to Smart Rebalancing and DCA bots, KuCoin lets you set trading parameters and get trades handled without any hassle whatsoever.
KuCoin earn
At KuCoin, crypto trading isn’t the only way to generate income. You can rely on the diverse offerings at KuCoin Earn to keep earning stable profits. The entire approach entails professional asset management, allowing you to choose between “Balanced,” “Advanced,” and “Specialized” plans.
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It is worth noting that KuCoin Earn isn’t just a staking-based passive earring offering. Instead, it lets you access structured earning products like Protective Earn, Dual Investment, Twin-Twin with a zero-risk approach, and more.
The Halo Wallet
KuCoin, like several other exchanges, has also unveiled an all-inclusive web3 wallet — the Halo. From letting you trade and store NFTs to tracking your DeFi portfolio, the Halo wallet is the perfect entry point to KuCoin’s web3 ecosystem.
Halo also connects with Lens Protocol — a web3 SocialFi platform.
“Despite the drop in NFT sales, web3 is still a promising area for investors. We’re still at the trial & error stage. More innovation is needed.”
Johnny Lyu, CEO of KuCoin: Twitter (X)
Apart from the mentioned offering, KuCoin also brings home a diverse suite of institutional features like VIP lending, market maker support, and more. Furthermore, the KuCoin rewards program is also one of the more diverse ones around, letting you earn up to 20% commissions, close to 3200 USDT in rewards, and more.
KuCoin review: How’s the user experience?
There are many aspects of analyzing the KuCoin user experience. The first element concerns customer support, which was prompt and comprehensive when we tested the offerings.
The next aspect is the ease of getting started. At KuCoin, the process is just as easy as with any other centralized exchange. You simply need to sign up, create an account using your email ID or phone number, and verify the KYC credentials when asked.
You can even continue with basic non-KYC verification — by simply feeding the name, address, and DOB. However, that way, there will be a massive cap on the transaction limit. KYC-verified profiles are advanced profiles with no imposed caps or feature-specific restrictions.
KuCoin keeps things minimal, even on the usage front. You can use the web version or install the Android or iOS KuCoin mobile app to get started. Overall, the user experience is top-notch, whether you use the KuCoin mobile app or the web interface. We found the KuCoin user interface to be one of the smoothest around.
Does KuCoin have any fees?
KuCoin is highly transparent when it comes to the fee structure. If your focus is spot trading, the maximum maker and taker fee percentages are set at 0.1% for each for Class A coins, 0.2% for Class B coins, and 0.3% for Class C coins.
Do note that while Class A coins are the most common and liquid, Class C coins are the rarest and not the most tradable ones. These include CLH, GARI, and more.
As your spot trading volume keeps increasing, so does your amount of KuCoin tokens or KCS. You can even experience the lowest possible maker fees of -0.005% — which can also be deemed cashback. The minimum taker trading fee for LV12, or the highest tier, is 0.04%.
It is worth mentioning that the trading level or tier also impacts the withdrawal limits, with the lowest being 1,000,000 USDT and the highest being 60,000,000 USDT across a 24-hour timeline.
For futures trading, the maker and taker fee percentages start at 0.02% and 0.06%, respectively. KuCoin also supports free crypto deposits, but withdrawals are charged depending on the network and address you use for transactions.
KuCoin deposit and withdrawal methods
As of now, KuCoin doesn’t offer multiple deposit and withdrawal methods. However, you can still deposit and withdraw tokens to and from KuCoin using specific networks. The deposit and withdrawals are almost instantaneous, as tested by us. However, we encountered some lag while transferring the ERC-20 token SHIB on the Ethereum network due to network congestion.
Staking on KuCoin
On KuCoin, you can engage in steady and reliable on-chain staking. At any moment, you can stake assets and start earning. Through staking, you can collect rewards on your cryptocurrency. Even during the lock-up phase, you have the flexibility to stake or withdraw your assets.
However, if you decide to withdraw, most currencies require a redemption period. The duration of this period differs for each currency, and you won’t earn staking rewards during it. Once you successfully lock up your assets, check your staking details by navigating to “Financial Account” and then “Staking.” All your staking rewards will land in your Funding Account.
Did you know? Despite a pretty extensive security suite, KuCoin’s defenses were breached in September 2020, resulting in a loss of almost $281 million. Despite the breach, the platform acted quickly, recovering some of the funds in the process.
KuCoin review: Pros and cons
Now that we’ve delved into KuCoin let’s list the pros and cons of the trading platform:
Pros
- A diverse cryptocurrency selection
- Competitive trading fees
- KuCoin user interface is user-friendly
- Global presence
- Availability of advanced trading features
- Multi-channel social handles, including an active Twitter (X) account
- Quick and proactive threat notifications
Cons
- Lack of U.S. licensure
- Has been breached in the past
- Doesn’t have a lot of positive user reviews on the internet
- Limited purchase options with fiat
Customer support
Before we get to the personal experiences, let us take a closer look at what KuCoin’s customer support system entails. These include
- Live chat support for real-time resolutions.
- A guide-based Help Center
- Ticket-based request submission
- Bug bounty support
- Handholding in the form of technical support
Out of these, the promptness of the Live Chat support, with the ability to change the language, felt most prompt. As for tickets, we raised one and got a resolution within a few hours.
How we have tested KuCoin
In order to form a comprehensive KuCoin review, we concentrated on a number of elements:
- Support services analysis: We conducted an in-depth of KuCoin’s customer support, measuring the promptness, accessibility, and effectiveness of the responses to user inquiries and issues.
- Platform functionality inspection: We performed an analysis of KuCoin’s core platform features, with special attention to its digital asset management, dedicated tools for transaction monitoring and reporting, and trading tools.
- Resource evaluation: We scrutinized KuCoin’s documentation and user manuals, gauging their lucidity and user-friendliness.
- General overview: Our all-encompassing review sought to offer a rounded perspective on the KuCoin platform, its support mechanisms, and available tools.
Moreover, we probed into KuCoin’s distinctive features, employing a comparative approach to benchmark its services against other leading trading platforms.
Regulatory compliance and safety
KuCoin follows the global KYC and AML standards. And while it operates freely in over 200+ nations, the lack of U.S. licensure seems like the missing piece of the adoption puzzle. While users in the U.S. can still access some of KuCoin’s services without KYC verification, they can expect several limitations on transaction limits, trading margins, and other offerings.
Moreover, KuCoin enhances its credibility by being among the first exchanges to present its proof-of-reserves. In the realm of security, KuCoin adopts the pinnacle of encryption and seamlessly incorporates multi-factor authentication. Additionally, they collaborate with Onchain Custodian, a renowned Singapore-based asset security service, ensuring the utmost protection for its assets. To top it off, user funds gain further assurance as KuCoin’s assets are insured by the reputable Lockton brokerage.
Beyond the security features mentioned earlier, KuCoin implements the following measures to protect its users and their funds:
- Anti-phishing standards
- Withdrawal address whitelisting
- Periodic security audits
Invest responsibly
Keep in mind that both investing and trading harbor inherent risks, with the potential of monetary losses looming. As a result, it’s pivotal to stake only what you’re truly at ease losing. Moreover, while this KuCoin review provides insight into the KuCoin exchange, it shouldn’t be viewed as an official endorsement.
Instead, it’s crafted for informational and entertainment value. Ultimately, readers should weigh their financial responsibilities and undertake independent research before committing to any investment choices.
Is KuCoin the right cryptocurrency exchange for you?
If you want a global exchange with access to advanced trading and earning features like staking, lending, and more, this KuCoin review finds the platform a strong contender. With a huge number of supported cryptos combined with a beginner-friendly interface and a supportive customer service department, this CEX is up there with the best if you are a user based outside the U.S.
Frequently asked questions
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