Home > All Cryptocurrency Exchanges 2021 > KuCoin Review 2022 – The Complete Guide
Start trading with KuCoin

KuCoin Review 2022 – The Complete Guide

KuCoin is one of the fastest-growing cryptocurrency exchanges in the crypto market. Launched in Singapore in 2017, it has quickly established itself as a leading platform used by millions of traders worldwide. 

Shoulder to shoulder with behemoths including Binance, Coinbase, and Kraken, KuCoin’s inception dates back to 2013 when CEO and co-founder Michael Gan, and his cohorts, began building the exchange’s original architecture from the ground up. 

Operating in more than 200 countries today, Kucoin provides a suite of tools to satisfy everyone from newbies just starting out on their trading journey to seasoned professionals reliant on more sophisticated analytics tools. 

KuCoin also offers staking options for passive income streams, peer to peer lending, and powerful algorithmic bots for automated trading. With robust security in place, a huge number of cryptocurrency tokens listed, low fees and lightning-fast execution speeds, Kucoin is, without doubt, one of the better exchanges in which to park your funds and start trading.

If you’re new to crypto and have yet to sign up to an exchange, or you've already signed up to other exchanges and are keen to spread your risk across platforms, or take advantage of the many exotic coins that aren’t listed on other exchanges, this review of Kucoin’s world-class trading platform is for you.

What Is Kucoin?

Kucoin is a digital currency exchange (DCE). Much like Binance, it’s a place where traders and investors can go to buy, sell and swap cryptocurrencies and engage in other crypto-related activities. 

Kucoin was built with venture capital money from major Chinese investors including GF Securities, Ant Financial, Youling, Jianbang Communication, iBOX PAY and others. This initial investment, combined with the drive of the team and the enthusiasm of a growing community, has catapulted KuCoin into the top ten global cryptocurrency exchanges by trading volume within just a few years. 

KuCoin works in much the same way as any other exchange, providing the technological backbone essential to the smooth operation of a digital marketplace. In the simplest sense, people log in, take a look around at the products (crypto) and services (staking, peer-to-peer platforms, competitions, etc.) and decide what they want to do there. With KuCoin there are many different things to take part in, but the main purpose of the exchange is to offer a fast, safe environment for people to buy, sell, swap and store different cryptocurrencies

How Does The Kucoin Exchange Work?

Digging deeper...for every trade of every cryptocurrency, there always needs to be a buyer and a seller. You can see the volume of buyers versus sellers for any given crypto on most exchanges. This is called the order book. Every crypto trade is stored and visible on this order book. 

With hundreds of thousands of trades being placed by people around the world every second, having the bandwidth to match every order, verify accounts and process transactions within seconds is vital. 

Slow settlement speeds can lead to what’s known as slippage where an order fails to get filled at the right level. This happens when there is high volatility. In such circumstances, prices can spike through protective stop losses and users can lose money, even when they believe their stop loss is protecting them.

This is why the capacity and speed of the technology any exchange uses is so important and is why exchanges like KuCoin pride themselves on their fast execution speeds; they know how important it is to traders. 

Key Services & Additional Features

Kucoin is literally brimming with exciting features for new and experienced traders and investors. Firstly, it's worth mentioning the site’s huge range of cryptocurrencies. 

KuCoin is often a first-mover when it comes to new tokens on the markets and has leapt into the metaverse space being the first to list tokens such as Bloktopia’s BLOK and Victoria VR’s VR token. Upon listing, both of these tokens went on a rampage, clocking up parabolic moves.

The aggression of the price growth of these marginal coins is indicative of how heavily used KuCoin is as an exchange. In short, it dares to tread where other exchanges won’t. With more than 600 tokens listed and more than 1000 currency pairs, KuCoin excels when it comes to exotic token listings.

Proprietary token

Much like Binance with its BNB coin, or Crypto.com with CRO, KuCoin also has its own token—KCS. Hotly traded in its own right, token holders trading on KuCoin can enjoy trading fee discounts and also get in first on newly released coins via Spotlight (see below).

New project launchpad

KuCoin Spotlight is a launchpad for new projects. Why is this great? If you’ve ever felt bitter about missing out on the token launch of a project you love, only to see the price go to the moon, that’s most likely because you’ve never taken part in an initial exchange offering (IEO). Spotlight allows you to take part in new launches and get tokens at rock bottom prices before they hit the market. The caveat is you need to hold KCS in your trading account, and you won’t be able to participate if you’re in the US.

Social Trading Platform

KuCoin has a thriving and engaged community with more than 10 million active global users and investors and over 1 million newsfeeds posted at the time of writing. 

Web and mobile access

Kucoin caters for desktop trading and trading on the move. Many traders use a combination of these, conducting their analysis with KuCoin's charting capabilities on a larger screen then checking on trades taken on their mobile. The Kucoin website or mobile app (available on Apple and Android phones)  is the best place to get started.

Trading bot

KuCoin boasts its own trading bot that people with less time on their hands can put to use to hopefully turn a profit. The KuCoin digital trading bot is an automated digital asset set-and-forget trader that makes crypto trading decisions in your absence. By doing this, emotion is removed from the user’s trading behaviour, with trades executed according to pre-determined parameters set by the user. By using the KuCoin bot, many traders report making a good passive income with minimal effort.

Staking

KuCoin also offers users the chance to stake their tokens and earn interest on their holdings. Users can stake LINK, TRX, ADA, ATOM, VSYS, to name just a few.

24/7 Customer support

As mentioned in the section above, KuCoin is a CEX, which brings the benefit of round-the-clock support to KuCoin customers.

Spot, Margin and Futures Trading

KuCoin offers a variety of different accounts for different types of trading. Spot trading is the simplest. This is where you choose a cryptocurrency pair and make a purchase. This could be BTC/USDT or ETH/USDC or any one of a number of other pairs. The base currency will then appear in your account ready to be moved to a wallet. Or, you could simply leave it on the exchange until you’re ready to sell or swap it for another crypto or fiat currency.

More about margin trading

Margin trading allows you to trade with leverage to increase your level of return. Bear in mind, this is not for the faint of heart and should only be done if you have considerable trading experience. In the same way that leverage can rapidly multiply your gains, it can just as easily multiply your losses. Many traders get wiped out in this way. 

Last but not least, you have futures. This is where you buy crypto at a set price, (unsurprisingly in the future) and wait for the contract to expire. As with margin trading, you can open trades with high leverage, but this is risky for the reasons pointed out above. Again, this is something for more seasoned traders with some years of experience behind them. 

5 Steps to Buy Cryptocurrency Instantly!

  1. 1
    Visit our recommended platform to buy crypto by clicking the button below.
  2. 2
    Enter your details in the required fields to create a new account.
  3. 3
    Fund your account using your preferred payment method and confirm your new balance.
  4. 4
    Choose your favourite crypto coin and select a "Instant/Market Order” to buy it instantly.
  5. 5
    Enter the amount you want to buy (you’ll see the equivalent in crypto) and confirm your order!

Which Cryptocurrencies are Listed On KuCoin?

KuCoin lists more than 600 cryptocurrencies on its exchange with new coins added on a weekly, and sometimes daily, basis. Among the list are some of the stalwarts you’d expect to see including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC), Terra (LUNA), Cardano (ADA), Ripple (XRP) and more. 

There are also hundreds of mid and small-cap blockchain projects with tokens listed on the exchange such as JasmyCoin (JASMY), not to mention plenty of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). In short, on KuCoin, there’s something for every trend follower, speculator and serious investor.

Supported Countries, Currencies & Payment Methods

KuCoin is operational in more than 200 countries and supports hundreds of currencies. As with most exchanges, the number one fiat currency traded on KuCoin is USD. But it also supports more than 50 other denominations including The Great British Pound (GBP), The Australian Dollar (AUD), and the Euro (EUR). For more details on supported currencies, visit the KuCoin website.

KuCoin Fees & Limits

The main fees to consider are trading fees, deposit and withdrawal fees, and interest, borrowing and liquidation fees. Fees and limits vary so it's best to go to the exchange's website to get the most up-to-date figures.

At the time of writing, KuCoin’s fees are among the most competitive in the crypto market, typically ranging from 0.0125% to 0.1% per trade. This compares favourably with other platforms that charge as much as 0.5% per transaction.  

Trading fees

these are taken from the spread and this is how most exchanges make the lion's share of their money. You can think of these fees as a commission for the exchange and a cost of doing business for you. One thing to look out for is widening spreads at times of high volatility. These can chew away at your trading capital if you're the sort of trader who enters and exits positions many times during a single day.

Deposit and withdrawal fees

These are often overlooked. While KuCoin doesn’t charge for deposits of crypto, it does charge for fiat deposits, such as USD. You'll also incur costs for taking your crypto out. 

Withdrawal fees for individual crypto coins are always shifting so it’s best to head to the KuCoin website to get the latest info. It’s also worth noting that sending crypto from KuCoin to any other exchange can incur pretty high costs. However, a good way to avoid paying these is to use KuCoin’s supported layer 1 platforms, such as TRON. This will significantly reduce your fee. 

Borrowing and liquidation fees

If you decide to use leverage, there will be other costs incurred such as interest on the margin amount borrowed, and liquidation fees. If your trade moves against you and there isn’t enough collateral in your account to keep the trade open you will either get a margin call or be automatically closed out of your position. 

How to save on fees

Holders of KuCoin’s native token, KCS, benefit from reduced transaction fees. This is similar to Binance which incentivises holding and staking its native token, BNB, and its stablecoin, BUSD, with generous trading discounts. Such savings can be significant over time. 

You can also save on fees if you are a market maker. By placing limit orders rather than market orders, you are providing liquidity and stability to the exchange and will pay lower fees upon execution. This is why it’s better to place a limit order than jump in rashly with a market order. Fees are also reduced for high volume traders.

Benefits and Drawbacks to KuCoin

Pros

Excellent liquidity with high daily trading volumes
Slick user interface and trading platform
Built from the ground up by its founder members
Low transaction fees
Lots of trading competitions to participate in
Margin and futures trading for people looking for leverage or who want to short the market
Proprietary trading bots that enable automated trading 24/7
Fee discounts for holders and stakers of KuCoin’s native token, KCS
Has its own exchange launchpad, Spotlight, that gives KCS holders the chance to get in at the best prices on new projects
Simple enough for beginners to get started but also with enough features to satisfy more seasoned traders and investors

Cons

Educational Materials are not as in-depth as we would like
Withdrawal fees can be high
Unregulated and unlicensed in the US
Customer support could be improved
Additional logins required even after Face ID is set up

Is KuCoin Safe?

Although KuCoin is unregulated, that doesn’t mean that it shirks its responsibilities to its customers. Eager to show its commitment to security, KuCoin partnered with Onchain Custodian, which describes itself on its website as an ‘integral custody an open finance service for institutional clients and accredited investors to manage assets in a secure, insured and compliant way.’ 

By having a number of security layers, which include industry-standard encryption and multi-layered authentication, traders are assured that their funds are safe. For even greater crypto security, however, it’s always worth investing in a hardware wallet and keeping all funds off-chain.

Is KuCoin Legit & Regulated?

KuCoin is a legitimate exchange handling huge trading volumes and capital amounting to billions of dollars each day. Established in 2017, and in development since 2013, KuCoin’s operation standards are on par with the leading exchanges in the crypto market. 

Its CEO and founder, Michael Gam, previously worked for Ant Financial (now Ant Group), an affiliate of the retail giant Alibaba and China’s largest payment systems provider. Importantly, KuCoin’s trading platform is not an off-the-shelf, white-label product, but has been built from the ground up by Gam and his team. In short, while KuCoin is unregulated, it is legitimate. 

KuCoin vs. Other Exchanges

In a head to head battle with the many other exchanges out there, KuCoin holds its own. It has the sort of visual experience and user experience that experienced crypto traders will be comfortable with. For beginners, the platform is easy enough to navigate. 

When it comes to new coin listings, KuCoin shines. It's also often the only place to get that elusive, trending coin that just came out. KuCoin also has great bots for automated trading. 

Because it’s unregulated, you won’t be able to trade on KuCoin in certain countries such as the US. There, your best bet would be to use Coinbase, which was the first crypto company to publicly list on the stock exchange. 

Also, if you’re looking for an in-depth academy with ‘how to' videos, it’s hard to beat Binance for the sheer volume of educational material available to traders, but if these things aren’t that important to you, KuCoin is one of the best exchanges around for new and experienced traders alike.

Final Thoughts: Our Experiences with KuCoin

KuCoin is well established with a large user base. Our experience using the KuCoin exchange is that it is fast and responsive and has an exciting array of cryptos, including many ‘exotics’ that are difficult if not impossible to find anywhere else. 

Any questions we had regarding fees or adding and withdrawing fiat currency to and from the account were either answered on the site’s static pages or through its FAQs. For anything else, there is customer support. A bot starts to filter questions, which is a bit annoying, but the bot reacts quickly and is mostly accurate. If you still don’t get the answer you want from the bot you can submit a request and wait for a response.

The mobile and desktop applications are easy to use. The desktop application is better for analysis and setting up more complex trades while the mobile is better for tracking open trades, quickly closing bad trades and generally keeping an eye on your portfolio while on the move. 

One annoyance is the frequency with which we had to go through the login process after we had set up Face ID. This added layer of security protects the user, but if you need to get into your account quickly to close or open a trade, you'll need to make sure you have your login details to hand. If you have two-factor authentication set up, you will also need to have quick fingers ready to enter those digits.

KuCoin might be a bit of a challenge for beginners to wrap their heads around at first as it has a suite of advanced features. But looking past this apparent complexity we found the interface easy to use with fast execution times and all of the charting and analytics tools required to get the job done.

 

Methodology 

Our team trialled dozens of leading crypto exchanges to find out what set them apart, focusing on key benefits and drawbacks. We listed a number of standard tasks, such as opening the account and going through KYC to funding the account. 

We crunched both qualitative and quantitative data to bring our readers a balanced view of the exchange that would help them make an informed decision. In testing out KuCoin, we signed up for an account with real details, put some capital into the account and traded with it. 

Throughout this process, we assessed everything from how easy it was to access the platform and use it to convert currencies, buy crypto and trade, to transaction speeds and fees. Find out more about how we test, and how we ensure our content is well-researched, accurate and reliable as a resource in the decision-making process, in our editorial policy.

Frequently Asked Questions

  1. KuCoin is not a DEX. It is a CEX set up in much the same way as a traditional exchange like the New York Stock exchange. This means that there will be risk and compliance teams ensuring that stringent rules and regulations are in place. When you transfer your funds to a CEX and convert them into crypto, you are giving custody of those funds to the service provider and trusting them to act honourably, much as you do when you deposit money in a bank.

  2. In a nutshell, a decentralised exchange, commonly referred to as a DEX, is a place where users provide liquidity and, apart from the exchange itself, there is nothing standing between the buyer and the seller, ie no broker. Known as automated market makers, DEXs circumvent, in most cases, jurisdictional red tape and aim to lower transaction costs by stripping out the middleman. 

    With a DEX, there is no customer support. If you do run into problems, it's best to join the Telegram group focused on the DEX in question and ask more knowledgeable DEX traders for help.

  3. While DEXs are applauded by blockchain believers because they are non-custodial—which basically means users hold their own funds and are essentially ‘unbanked’—if private keys are accidentally lost or destroyed there is no support structure in place to get funds back. A quick Google search will reveal just how many people have lost their private keys to their non-custodial wallets and lost their funds in the process—sometimes millions of dollars.

    A lot of people will use a DEX such as Uniswap or PancakeSwap to buy newly released coins that aren't available anywhere else, but if you want to trade on a platform that provides support, it's best to use an exchange like KuCoin. 

  4. Increasingly, reputable exchanges are working hard on their compliance; they know they are coming under greater scrutiny as crypto goes mainstream and want to be ready for regulatory changes. KuCoin, while not regulated, has many layers of protection including insurance policies to protect the business and its millions of users from financial loss or ruin in the event of a calamity or black swan event. To this end, KuCoin is partnered with Onchain Custodian. This strategic cooperation is an assurance to customers that a high level of audited security is in place and their funds are safe.

  5. KCS is Kucoin's native cryptocurrency that unlocks many doors within the exchange. KCS is an openly traded coin on the crypto market, just like any other crypto coin. As a utility token, KCS provides many benefits for holders, including access to new blockchain project launches (IEOs) and bonus rewards through KuCoin's Bonus Programme, among other things.

We use cookies to personalise content & ads, provide social media features and offer you a better experience. By continuing to browse the site or clicking "OK, Thanks" you are consenting to the use of cookies on this website.