KuCoin is a cryptocurrency exchange that offers crypto trading services, including spot and derivatives trading, to about 20 million customers in 200+ countries. It was founded in 2017 by Chun Gan, Ke Tang, Michael Gan, and Johnny Lyu, who is the current CEO.
KuCoin is the seventh-largest crypto exchange by trading volume and is popularly known as the people’s exchange. Besides being among the top exchanges, they recently launched KuCoin Pay, a point-of-sale (PoS) system that allows users to make payments directly from their exchange balances.
In this KuCoin review, we will provide answers to some essential questions about the exchange, like What is KuCoin? What are KuCoin features? What are Kucoin fees? And Is KuCoin safe and legit? We will also show you a straightforward process on how to trade on KuCoin.
What Is KuCoin?
KuCoin is a cryptocurrency exchange popular among traders because it lists new and lesser-known coins early, even before they hit the mainstream. Users who want to catch crypto assets while they are hot and gain massive returns through these tokens can do that via KuCoin.
However, the price of recently listed coins and tokens fluctuate heavily within the first few hours. So, it is advisable to wait a few hours for the market to stabilize before buying or investing in newly listed tokens. Let’s look at the basic information about KuCoin Crypto Exchange from a glance.
| Exchange | KuCoin |
| Founded | 2017 |
| Founder | Johnny Lyu |
| Features | Spot trading
Copy trading Asset and wealth management services Fast trade |
| Supported Cryptocurrencies | Over 750 and 1300 trading pairs. |
| User Base | 30 million users worldwide. |
| Security Measures | Multi-factor authentication, proof of reserves, risk control system, cold storage, and advanced encryption. |
| Customer Support | 24/7 customer service is available via email and live chat. |
| Trading Fees | 0.10% – 0.30% |
| Trading Options | Spot, Futures, Options, Margin |
| Payment Methods | Multiple options, including bank transfer, credit cards, crypto, and SEPA bank transfers. |
| Geographic Restrictions | Not available in the United States, UK, Mainland China, Singapore, Iran, and North Korea. |
What are the pros of KuCoin?
The pros of Kucoin are:
- Competitive fees
- Strong security measures
- Over 700+ supported cryptocurrencies and 1300 trading pairs
- User-friendly interface
- Advanced trading features
- Staking and Lending Options
Here’s a breakdown of the advantages of using KuCoin for crypto trading.
- Competitive Fees
KuCoin trading fees are lower than that of the majority of crypto exchanges. The fees fall between 0.10% – 0.30% and even lower with higher VIP levels.
- Strong Security Measures
The crypto exchange provides multiple security features to protect users’ funds and data. Examples of some of these measures include Multi-Factor authentication, bank-grade security, and data encryption.
- Over 700 Supported Cryptocurrencies and 1300 Trading Pairs
KuCoin exchange supports numerous cryptocurrencies, including popular coins like Bitcoin, Ripple, Cardano, Ethereum, and Litecoin. As well as many lesser-known altcoins, like Kaspa, Near Protocol, Shiba Inu, and APECoin.
- User-friendly Interface
The exchange is designed to be accessible and easy to use for all traders. It has features like demo trading, copy trading, and a clean interface, making it an ideal choice for beginner and experienced traders.
- Advanced Trading Features
KuCoin has various markets where users can trade crypto against other crypto tokens, fiat money, and stablecoins. In addition, the Spot and Futures Trading interfaces contain all the information KuCoin users need to monitor your trades.
- Staking and Lending Options:
KuCoin provides opportunities for traders to stake their digital assets and earn passive income on their earnings. Users who want to earn more can use the lending service to lend crypto to other traders.
What are the Cons of KuCoin?
The cons of Kucoin are:
- Not available for US traders
- Limited liquidity for some altcoins
- Experiences congestion during high-traffic periods
- Not Available for US Traders
Similar to other popular crypto exchanges like Bybit and Binance, KuCoin is not available to US traders due to regulatory challenges. If you’re a US trader looking for an exchange, check out the list of KuCoin alternatives at the end of this article.
- Limited Liquidity for Some Altcoins
Since KuCoin lists tons of lesser-known Altcoins, some tend to have lower trading volume/activity, which in turn equates to limited liquidity.
- Experiences Congestion During High-traffic Periods
KuCoin web interface slows down during peak traffic. This increases the time required to complete a transaction and leads to frustration, especially if you’re trying to open or close an order.
What are KuCoin Features?
KuCoin offers various features for traders who want to accommodate traders with various needs. Here, we’ll dive deep into some of KuCoin’s features, including its Spot and Futures markets, trading bots, KuCoin Spotlight, crypto lending and staking, NFT marketplace, the P2P marketplace, and KuCoin leveraged tokens.
1. Spot and Futures Trading
The crypto exchange gives users access to advanced trading tools for spot trading. Here, you can trade crypto against fiat or another crypto while taking advantage of the 10x leverage available for Spot trading.
In addition, KuCoin offers USDT-denominated futures contracts for Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin SV (BSV), Chainlink (LINK), Uniswap (UNI), and many more, and USDC-denominated futures contracts for BTC and ETH.
KuCoin users can open positions with up to 100x leverage on futures contracts. You can up your earnings through leveraged trading, but remember that the higher the leverage, the higher the risk of capital loss.
2. Trading Bots
It can be challenging to monitor your trades constantly, so KuCoin offers Trading Bots to power automated trading. Based on your requirements and market analysis, these bots automate buy and sell orders.
With the trading bots, you only need to enter specific trading parameters and then let the Bot watch for price movements on your behalf and buy or sell at a particular price, depending on your needs. But that’s not all. The Trading Bot also offers long-term strategies where you can get the bot to invest or sell small amounts at specific periods.
That way, you do not have to invest all your money at the same time. In the same way, if you want to sell your crypto, you do not have to check the price consistently. You can easily add the information, and the bot will automatically complete it.
3. KuCoin Spotlight
KuCoin Spotlight allows users to buy tokens before they hit the market. This feature is ideal for users who would rather buy new tokens at a heavily discounted price. Since these digital assets are sold to traders at a discounted price, they can earn huge returns when these projects hit the public and do well.
You can acquire token rewards from new projects by committing KuCoin’s KCS tokens for each launch event you are interested in. KuCoin Spotlight is similar to the Launchpad features on other exchanges like Binance and Bybit.
4. Crypto Lending and Staking to Earn
KuCoin offers lending and borrowing services, where users can earn interest by lending their crypto assets to other traders. Also, users can earn up to 260% APY on various cryptocurrencies through staking.
The crypto exchange offers various options for flexible and fixed-term earning options under the KuCoin earn program. Here’s a rundown of some stake and earn products available on KuCoin:
- Simple Earn: This is for users who need a straightforward and flexible way to earn interest on their crypto holdings. It comprises Flexible Savings, where you can deposit funds and withdraw anytime.
- Staking: This feature enables KuCoin users to lock up their assets to support the operations of various Blockchains. In return, they earn significant rewards. If you are interested in this program, you will gain access to flexible and fixed staking options.
The first allows you to unstake your assets at any time, and for Fixed Staking, you lock up your assets for a set period. The fixed-term option usually yields higher returns than flexible staking.
- Learn and Earn: This program is set to encourage KuCoin users to take courses and complete the quizzes to earn rewards. There are multiple courses users can choose from, however, there are specific deposit requirements before you can access your earnings.
- Dual Investment: This investment allows users to earn rewards based on the performance of two digital assets.
5. NFT Marketplace
Besides crypto trading, KuCoin has a marketplace for buying, selling, minting, and investing in Non-fungible tokens. Unlike other crypto exchanges, KuCoin launched a decentralized NFT marketplace, Windvane, where users can also gain access to exclusive airdrops, earn dividends of commission income, and enjoy early access to new NFT projects.
One way KuCoin differentiates its NFT marketplace from other exchanges is through the fractionalization of NFTs. KuCoin partnered with Fracton Protocol to increase NFT liquidity through fractionalization, allowing users to invest in high-value NFTs at lower costs.
This process involves converting a single NFT into thousands of millions of ERC-20 token fractions, making ownership more accessible. The original NFT owner determines the number of smaller NFTs (ERC20 fractions) to be created, the price of each fraction, and other relevant details.
6. Fast Trade and KCS Discounts
The Fast Trade feature is the most convenient way to buy or sell crypto on KuCoin using third-party payment platforms. You just need to choose the currency you want to use, the crypto you want to buy (or sell), and the payment method.
Meanwhile, the KCS discounts are attached to the KuCoin Token, which is the exchange’s native token, launched in 2017. It’s a profit-sharing cryptocurrency issued on Ethereum’s ERC20 protocol standard, supported by most Ethereum wallets. KCS holders receive 50% of the overall trading fee revenue and enjoy up to 29% discount on trading fees across all VIP levels.
7. P2P Trading
The P2P marketplace is another service available on KuCoin that allows users to buy and sell crypto with other individuals using fiat currencies. The marketplace supports various payment methods depending on your country. However, ACH transfer, PayPal, and transfers to local bank accounts, are the most popular.
While this marketplace offers a convenient channel for trading without transaction fees, you must complete the KYC verification process on your KuCoin account before using the marketplace.
8. KuCoin Leveraged Tokens
KuCoin Leveraged Tokens are tradable assets that provide users with leveraged exposure to underlying cryptocurrencies, such as Bitcoin and Ethereum. They allow traders to increase their profits without facing liquidation risks. For instance, a 3x long token (BTC3L) will increase by 3% if Bitcoin rises by 1%.
What are Kucoin Fees?
As discussed earlier, KuCoin offers incredibly competitive fees. Let’s look at the withdrawal, trading, listing, transfers, and deposit fees on KuCoin Exchange.
Withdrawal Fees
Withdrawal fees for crypto vary, depending on the token and the Blockchain network. For instance, withdrawing 5 USDT will incur a 1 USDT fee (the fee for the same amount of USDT on the ERC20 network will be way higher).
Please note that the withdrawal fee also changes based on the amount of crypto you are withdrawing. For fiat withdrawals, SEPA withdrawals have a 1 EUR fee with a minimum withdrawal of 5 EUR.
What is KuCoin Withdrawal Limit?
KuCoin withdrawal limits are;
- Verified Individual Account: 100 BTC per 24hr
- Verified Institutional Account: 500 BTC per 24hr
- Non-verified Account: 1 BTC per 24hr
KYC is mandatory on KuCoin, but you can still trade crypto without completing it. However, you must complete the KYC verification process to increase your withdrawal limit.
Trading fees
The spot and futures trading fees on KuCoin is 0.10% for both makers and takers. The fees go lower with higher VIP levels, as shown in the image below. Additionally, you can get a 20% discount if you use KCS to pay the transaction fees, regardless of the VIP level.
Remember that these are standard fee rates, and the actual fee for your transaction may fluctuate based on various conditions. So, always check the transaction page to know the exact amount you are paying.
Listing Fee
The cost of listing a token on KuCoin varies, but this information is hardly disclosed to the public. But, whether your token will be listed depends on various factors, such as the exchange’s listing criteria, the popularity of the token, and the level of support and services required.
Transfer Fees
KuCoin offers free transfers for most cryptocurrencies, allowing users to move assets from one wallet to another without incurring fees. However, if you transfer crypto from your KuCoin wallet, the fees vary by cryptocurrency and network. For example, withdrawing Bitcoin incurs a fee of 0.0005 BTC, while Ethereum costs 0.005 ETH.
Deposit Fees
KuCoin doesn’t charge fees for direct crypto deposits. However, they charge a small fee for EUR deposits, usually around EUR 1, depending on the amount. Additionally, free deposits are available when using other fiat currencies.
Is Kucoin Safe and Legit?
KuCoin is safe and legit, though it experienced a large-scale hack in 2020. They have upped security measures to ensure all user assets are secure. Here are some features they use to safeguard user funds and data.
- Multi-factor Authentication: The exchange allows you to set up Google Authenticator, email links, text message verification, and biometric authentication. Suppose you set up Google Authenticator alongside your email. In that case, you must enter a code from your email and the authentication app onto the KuCoin website to complete transactions, especially withdrawals.
- Proof of Reserves: KuCoin’s Proof of Reserves (PoR) ensures that user assets are fully backed by real reserves. As of March 2024, KuCoin reports a reserve ratio of 100% for major assets like BTC, ETH, USDT, and USDC, verified by the audit firm Mazars.
- Advanced Encryption: The website is protected using 256-bit encryption technology that keeps private account information secure.
- Privacy Protection: KuCoin employs advanced security systems to prevent unauthorized access. Besides, it collects only the data about you that is necessary to ensure the quality of its services.
- Risk Control System: KuCoin has a risk control system that includes account verification, risk identification, and secure login and withdrawal. KuCoin also monitors wallet addresses and sends alerts for suspicious behavior.
Is KuCoin in Trouble?
KuCoin has faced significant regulatory challenges and legal issues recently, even though the company is doing well. For instance, in an ongoing suit from October 2024, Alameda Research, a subsidiary of the collapsed FTX exchange, filed a lawsuit against KuCoin in the U.S. Bankruptcy Court for the District of Delaware.
The lawsuit seeks to recover over $50 million in assets that KuCoin froze after FTX’s collapse in late 2022. Alameda claims that KuCoin’s refusal to return these assets violates bankruptcy laws and has hindered their ability to settle debts.
Also, in 2023, New York’s attorney general accused KuCoin exchange of failing to register with the state before operating trading services. In December of the same year, KuCoin agreed to block New York users from using its platform and pay a $22 million settlement.
It is also important to note the September 2020 hack, where Kucoin suffered a major security breach where the hackers stole $281 million worth of crypto assets. According to the Kucoin exchange CEO Johnny Lyu, the trading platform recovered $204 million in crypto a few days later.
How to Trade on Kucoin?
To trade on KuCoin, you need an account. Here’s a guide on how to register and begin your trading journey. Before you start trading, don’t forget to use a KuCoin referral code to unlock exclusive benefits, such as reduced trading fees and other rewards.
Step 1: Get Started Trading on KuCoin
Download the app, create a new account or sign up on the website. Once you register, click on Trade and select Spot or Futures Trading.
Step 2: Choose a Trading Pair
On the trading page, use the search bar to find the trading pair you wish to trade. For example, if you want to trade KCS (KuCoin Shares), type “KCS” into the search bar.
Step 3: Place an Order
At the bottom of the trading interface, you will find options to buy or sell. Once you’ve selected your order type, fill in the necessary details (price, amount) and click Buy or Sell to execute your trade.
Pro Tip: You can save tons of money and even gain an additional $60 reward on KuCoin. Use this referral code “A1LXFV4F” to register and enjoy exclusive benefits.
How to Withdraw Money from KuCoin
Follow these steps if you’re withdrawing cryptocurrency:
Step 1: Log In
Access your KuCoin account and go to the Assets tab. Click on Withdraw and choose the cryptocurrency you wish to withdraw.
Step 2: Enter Details
Fill in the wallet address where you want to send your crypto, select the network (if applicable), and enter the amount.
Step 3: Confirm Withdrawal
After reviewing your details, confirm the transaction—complete security verification by entering the MFA codes requested.
For traders withdrawing fiat money, KuCoin does not support direct fiat withdrawals. Instead, you must follow the previous step and transfer your crypto to another exchange that allows fiat withdrawals.
What are the Kucoin Supported Countries?
KuCoin Exchange operates in about 180 countries, serving 30 million users in various regions. Some of these supported countries include:
- France
- Spain
- Brazil
- Argentina
- Chile
- India
- Nigeria
- Vietnam
- South Africa
Traders from these countries and 171+ others can register on KuCoin, enjoy new user rewards, and begin exploring trading platforms.
Is KuCoin Available in the US?
No, KuCoin is not available in the US. This restriction includes US territories, such as Puerto Rico, Guam, the Northern Mariana Islands, and American Samoa. Find the best exchange for US traders in our comprehensive list of the best cryptocurrency exchanges.
What are the Alternatives to KuCoin?
The best alternatives of KuCoin are Binance, Bybit, Coinbase, and Crypto.com. Compared to KuCoin, these platforms offer:
- Binance
Binance is popular for being the largest global cryptocurrency exchange by trading volume. The platform supports over 500 cryptocurrencies and various trading options, including spot and futures trading, staking, and decentralized finance (DeFi) solutions.
But that’s not all. The exchange offers a range of tools and services designed to cater to both beginners and experienced traders. Read this full Binance review to discover all its features and benefits.
- Bybit
Bybit is known for its user-friendly interface and perpetual contracts for Bitcoin and Ethereum trading. It supports 1000 cryptocurrencies and over 300 trading pairs, offering users various tools to maximize their investments.
Bybit Exchange provides trading bots, a P2P marketplace, and multiple features that allow users to earn by staking crypto or participating in events. If you’re considering using it as an alternative to KuCoin, be sure to use this Bybit referral code during registration for additional rewards.
- Coinbase
Coinbase is a major exchange that facilitates transactions in various cryptocurrencies, including fiat support in many countries. It is among the top KuCoin alternatives for US traders.
- Crypto.com
This exchange offers deep liquidity and low fees for trading major cryptocurrencies. It is also available in 49 states and US territories, including American Samoa, the Northern Mariana Islands, Puerto Rico, and the US Virgin Islands.
