The webs most detailed KuCoin review: Find out why this fast-growing cryptocurrency exchange has managed to become so successful and why traders all over the world choose this platform to conduct their trading operations. KuCoin is home to many different special features, keep reading to find out what makes this exchange unique.
In this section of our KuCoin review we highlight 6 special features that deserves extra attention.
KuCoin was founded in Hong Kong but now has the main headquarter located in Seychelles. The website has been live since 2013 but the actual exchange didn’t launch until September of 2017. This makes KuCoin a new trading platform in the Tradingbrowser review system since it has been operating as a trading platform for less than 5 years.
KuCoin is a cryptocurrency exchange with a focus on day trading and activities connected to the cryptocurrency ecosystem. You can lend your cryptocurrencies to others or stake them for passive rewards. At the moment, the exchange is not regulated by any governmental body, however, KuCoin still earns the Trustworthy status from Tradingbrowser due to good safety features and good reputation.
Why use KuCoin
KuCoin is for all traders, short-term scalpers, and day traders as well as long-term investors who want to buy cryptocurrencies with relatively low fees. It’s a perfect exchange if you are interested in doing other things else than trading. KuCoin offers cryptocurrency staking and lending which seems to be working pretty well and it’s picking up some traction from the visitors.
It has a massive following all over the world with an excellent reputation as being a legit exchange so if you are looking for a stable exchange with many features, then KuCoin might be for you. The security is also taken seriously on the exchange with many safety features available to protect your account.
Trading on Kucoin
The trading platform is well equipped with many features of the latest technologies including Tradingview charts, decent order selection, market depth, order book, and leverage for the more experienced traders.
If you want to trade altcoins you have a ton of different coins to choose from since KuCoin is a hub for altcoin trading. You can use the same advanced trading platform for altcoins as well and there is also leverage available for some of the altcoins.
There is a way to reduce the already low trading fees by trading with the native token of KuCoin called KCS. When you activate the KCS trading the maker and taker fee will be reduce to 0.08%.
Payment methods and limits
KuCoin offers the standard card payments, bank transfers, ApplePay, WeChat, and also Alipay. The excange has a peer-to-peer (p2p) buy and sell system for cryptocurrencies where more payment providers are available depending on who you transact with. KuCoin has very high withdrawal limt and you can withdraw up to 200BTC per day if you have verified your KYC-documents.
Things we don’t like
There are not many educational tools or market analysis tools like screeners for day traders and investors. What you see is what you get and you will have to do your own research on your own. There is some news regarding cryptocurrency and blockchain in general but this is nothing to help out with investment or trading decisions.
The live chat is absolutely terrible. Right now at the time of writing I’m still waiting for to get an answer and I’ve been waiting for over 40 minutes. The first answer I got was that they didn’t have time at the moment due to overload. I understand that the KuCoin live chat is overwhelmed by the amount of requests they get but I still think that they should focus more on their clients and up their support game.
About the special features on Kucoin
KuCoin is a multifunctional cryptocurrency exchange with a good variety of special features that attract traders and crypto lovers from all over the world. If you are a day trader you will do good in the futures pit with up to 100x leverage. Choose between the Lite and the Pro trade interfaces depending on your trading experience.
If you head to the footer of the KuCoin trading platform you will find a market maker incentive program where you can sign up if you are a quantitative trader. Here you will be able to create your systems and try them out with a rebate in the form of lower fees and sometimes free exchanging.
Crypto Lending & Staking
KuCoin offers good cryptocurrency lending and staking options where you can lock up your coins for a passive income. It goes under the “Earn” menu title and that’s just what it’s for, traders who want to earn money with cryptocurrency will enjoy this tool. For once, you can lend out money and be the bank you always wanted to be, but I guess it takes some volumes to actually make a good profit.
The cryptocurrency futures on KuCoin are okay. They seem more like a fast options trading system where you get to make bets either up or down depending on your short-term outlook on the market at the moment. If you know your market you will do good but it’s highly risky for new traders since there is an option to use 100x leverage or margin.
Buy Bitcoin and Cryptocurrency instantly
If you are looking for a new cryptocurrency exchange to buy bitcoin or other altcoins you will really like both the KuCoin interface and the fees for buying crypto. They have made it very simple to buy bitcoin and altcoins with credit and debit cards, or if you prefer, Apple Pay and Bank transfers are also an option. There is a peer-to-peer (p2p) buy and sell function with more payment providers available if you feel comfortable buying coins from other traders.
KuCoin is the home for ICO’s and is hosting token listings regularly. You can join in on these ICO’s and invest your capital in the projects you see have good potential for growth. This is a very interesting part of KuCoin that we really like since it’s investment-based and it gives you an opportunity to let your capital work for you.
When you file your KYC-documents with KuCoin your daily trading limits and withdrawal limits will increase significantly. Also, the maximum leverage in your futures account will get increased to 100x compared to the 10x maximum if you don’t send in your KYC-documents.
Is KuCoin safe to use?
KuCoin has an excellent reputation for being a safe cryptocurrency exchange, and there are several safety features to active in the account security sections. Here are some of them: 2FA verification, phone verification for login and withdrawals, email verification on withdrawals, trading password to verify transactions and withdrawals, and restrict login IP. In addition to this, you can add a safety phrase to your email, login, and withdrawals.
Is KuCoin regulated?
No, Kucoin is not regulated by any governmental body.
Frequently asked questions
Read the most frequently asked questions about KuCoin. Find answers without searching the web.
Yes, unfortunately, the exchange was hacked on September 25, 2020. A massive amount of $204 million in crypto assets was lost. Most of the coins were later recovered.
No, KuCoin is not a regulated cryptocurrency exchange.
I would not store a lot of coins of KuCoin since it's a non-regulated exchange. Store only the amount of coins you are actually going to trade.
When trying to find the company behind KuCoin the only name that came up is the CEO, Michael Gan.