Kucoin Review 2024: Is It a Good Crypto Exchange?

Our Kucoin review will take a closer look at the popular Kucoin platform to reveal whether it is a good exchange to use in 2024. Read on to discover our take on the exchange as well as important details that you should know before signing up.

An Introduction to KuCoin

KuCoin as a cryptocurrency platform essentially allows anyone to trade over 900 cryptocurrencies, which means that you aren’t restricted to the most popular tokens and can invest in lesser-known altcoins as well.

There are a number of cryptocurrency pairs available, you have the option to buy and sell futures with leverage of 100x at the most. This means that users can, for example, trade up to USD 10,000 worth of contracts, while having just USD 100 in their accounts. KuCoin offers both a simple crypto exchange and an advanced derivatives trading platform.

Many currencies can be bought directly through FIAT currencies, such as USD, EUR, CNY, GBP, CAD, AUD as well as others. You can also buy with FIT using its P2P FIAT trade feature or make deposits using credit cards or debit cards through Simplex.

As well as basic cryptocurrency trading, you can access futures and margin trading, KuCoin Earn, and non-custodial trading. KuCoin also offers excellent customer support options to help you with any queries that you may have along the way.

KuCoin Crypto Exchange Overview

Pros and Cons of Using KuCoin

Who is KuCoin Suitable For?

Not all cryptocurrency exchanges will be suitable for your desired trading strategy. So, is KuCoin a good option for you in 2024?

Overall, KuCoin is a good option for any crypto traders who live outside of the US. It’s geographical limitations are one of the only flaws that we found during our KuCoin review. The exchange is not available in the US because it is not licensed in this part of the world.

For traders outside of the US, KuCoin is a reputable platform to consider. It is best suited for experienced trades who want to explore advanced features such as spot trading, margin trading and crypto rewards.

Although KuCoin has a simple interface, some of the features that are available on the exchange may be a little confusing for beginners. However, you can learn how to use the exchange and how to navigate the cryptocurrency market with the KuCoin Learn feature. Therefore, this exchange might be worth considering if you are keen to improve your knowledge and trading skills.

KuCoin Cryptocurrencies and Trading Options

To better understand how we came to our conclusion, let’s dive into the different trading options that are offered by Kucoin.

What Cryptocurrencies Can You Trade on KuCoin?

There is a wide range of cryptocurrencies that you can trade on KuCoin, a list that is ever-growing and features a variety of altcoins.

That said, some of the tokens here are:

• Bitcoin (BTC)

• Ethereum (ETH)

• Litecoin (LTC)

• Ripple (XRP)

• Polkadot (DOT)

• Bitcoin Cash (BCH)

• Cosmos (ATOM)

KuCoin also offers a range of trading pairs for crypto derivatives trading. Here are a few examples.

• BTC/USDT
• ETH/USDT
• ETH/BTC
• LETC/USDT
• ATOM/USDT
• XRP/BTC

There are over 900 cryptocurrencies and over 1300 trading pairs available on the KuCoin platform.

Can I Trade With Leverage on KuCoin?

KuCoin does indeed give you the ability to trade up to a maximum leverage of 10x for most cryptocurrencies. In regard to the futures contracts, they are specifically tailored for experienced traders and offer leverage up to a maximum of 100x in specific cases.

For individual cryptocurrencies, the maximum leverage is 1:10 with a 10% margin, while for Bitcoin futures, the maximum leverage is 1:100 with a 1% margin.

It is important to note that futures trading is not available in all jurisdictions.

KuCoin crypto exchange

As well as trading futures and derivatives, you can also use KuCoin to make crypto-to-crypto swaps in the platform’s exchange. Here, you can swap currencies for others in just a few clicks.

The exchange has a simple dashboard that is easy to navigate – even for new users. The platform also supports fiat-to-crypto purchases and offers a similarly easy dashboard for this.

When you buy cryptocurrency from KuCoin, your tokens will be stored in the exchange. You can move your coins to an external cryptocurrency wallet by entering your wallet address.

Fees, Limits, and Payment Options on KuCoin

Fees play a big role in whether or not an exchange is suitable for you. High fees can quickly eat into your profits and make trading less accessible. Let’s take a look at the fees and payment options that are offered by KuCoin.

What Are the Deposit and Withdrawal Fees, Limits, and Speeds?

KuCoin is unique in the sense that it does not charge a direct fee for deposits or withdrawals in cryptocurrency. However, it does limit the minimum withdrawal amount based on the cryptocurrency you end up using.

Deposit Methods

There are four main deposit methods:

• Cryptocurrency deposits: No fees.

• Credit card or debit card deposits through Simplex: There is a 3.5% fee for making a deposit via this method or a $10 minimum.

• Bank transfer deposits: No fees.

• PayPal deposits: No fees.

Withdrawal Methods

There are three main withdrawal methods:

• Cryptocurrency withdrawals: No fees.

• Credit card or debit card withdrawals: 3.5% fee or $10 minimum.

• Bank transfer withdrawals: No fees.

How Much Are KuCoin’s Fees and Commissions?

There are many cryptocurrency exchanges available out there that will apply fees for trading activities, the platform can apply additional fees on top of the default fees. They are common in this industry, and KuCoin is not the only exchange that does this.

When we take a look at the fee structure on KuCoin, here is what you need to know.

KuCoin charges a maker and taker fee every time an order gets executed.

The maker and taker fees are by default 0.1%. If you pay the trading fees through the KCS native cryptocurrency token on the KuCoin exchange, they are reduced to 0.08% each

KuCoin Trade Sizes and Limits

The minimum trading size and volume for some cryptocurrencies can be high, and the exact limits on each cryptocurrency token are only available on the platform the moment you attempt to purchase them, therefore you will have to determine it on a per-token basis.

That said, the minimum trade for most cryptocurrencies is 0.0001 BTC, and the same can be said for crypto futures.

KuCoin Trading Platform Review

The KuCoin trading platform has a user-friendly design that is easy to navigate. We were particularly impressed with the platform’s ability to adapt to any screen size and device, which means that you can use KuCoin on the go.

The derivatives trading platform is very similar to the majority of cryptocurrency trading tools that you will come across during your journey. The main dashboard has a live price chart that is fully customizable with a range of indicators.

On the right hand side of the chart, you can find market news and useful trading information.

You can switch between different trading products using the top navigation bar. You will find the order form on the right-hand side of the dashboard, which can be used to execute various order types.

Overall, the trading interface is nothing new. However, we found no major flaws with the charting tools, order forms and user experience during our review.

Can I Use KuCoin in Any Country?

KuCoin is available in over 190 countries and territories across the globe. To view a full list of the supported countries, you will have to check the official website.

Some of the supported countries include:

• Canada

• United Kingdom

• Australia

• Singapore

• Japan

Is KuCoin Available in My Language?

KuCoin is available in 19 languages, some of which include:

• English

• Russian

• Portuguese

• Deutsch

• French

There are many more languages available, so just about anyone should be able to easily understand all of the menus and developments on the KuCoin exchange.

How Easy Is It to Use KuCoin?

The ease of use depends on which version of the platform you use. KuCoin offers both a cryptocurrency exchange and a derivatives trading platform.

Specifically, the KuCoin exchange is extremely streamlined and specifically tailored towards beginners. It offers a user-friendly interface that’s intuitive to use. However, the trading platform version is more complex and specifically made to fill the needs of advanced traders.

Both versions of the platform are easy to navigate. However, the features offered by the derivative trading interface may be a little complex for new traders.

Key Features of KuCoin

KuCoin offers a multitude of features outside its exchange and trading interface. This makes it an excellent option for traders who want to access more than just buying and selling crypto.

KuCoin Earn

KuCoin Earn allows you to stake your coins through Pool-X, which is a KuCoin backed company. You can also loan out your crypto and get paid interest on it. By staking coins, you help validate the network and keep it secure, and you earn rewards if you agree to lock these coins for a pre-specified time period.

Learn more about cryptocurrency staking.

Crypto Lending Pro

Another way to earn crypto through KuCoin is to lend your tokens to other cryptocurrency traders. Crypto Lending Pro is an intuitive dashboard that allows you to lend coins in a way that is flexible and manageable.

In exchange for lending your coins, you will receive interest payments – these vary depending on the coins that you lend out.

Learn more about crypto lending.

Crypto savings

If you want to earn from our crypto but don’t want to risk lending your coins to other traders, KuCoin supports crypto savings.

Here, you can earn interest by locking up your coins in a savings account. This is available for hundreds of tokens including popular coins such as ETH, XRP and SOL.

The main drawback of this feature is that you have to keep your crypto in the KuCoin exchange, which leaves you vulnerable to hackers.

KuCoin API

Another fantastic feature offered by KuCoin is the API which enables you to access the exchange’s features through third-party platform.

The API is customizable and you can find full documentation on the official KuCoin website.

KuCoin Security and Regulation

As part of our KuCoin review, we analysed the exchanges security and regulation. Here is an overview of what we found.

Is KuCoin Safe?

KuCoin has implemented a number of security measures with the goal of ensuring that users’ funds are kept as secure as possible. You are given the option to enable two-factor authentication and can enable separate trading passwords. All client data is protected by a high level of encryption.

Does KuCoin protect my cryptocurrency?

KuCoin is not a cryptocurrency exchange that provides you with insurance, and as such, cannot really guarantee the safety of your funds against any potential malicious attacks. The platform only offers a hot wallet to its user base and does not keep any tokens in cold storage devices.

Is KuCoin Regulated?

KuCoin as an exchange is not licensed and is not regulated in any jurisdiction. However, the exchange does implement anti-money laundering procedures and security protocols to protect users.

Do I Have to Verify My Account With KuCoin?

Verification is optional only if you are a trader that trades with low volume. This means that, up to a specific limit, you are given the opportunity to trade anonymously. That said, in 2018, KuCoin did implement the Know-Your-Customer (KYC) verification process in order to combat criminals that launder money. However, this is not mandatory unless you reach a specific trading volume. That said, if your account is not verified, you can only withdraw up to 2 BTC in a 24-hour period.

How to Buy and Sell Cryptocurrency on KuCoin

If KuCoin seems like a suitable exchange for your trading, here’s how you can get started.

How to Buy Crypto on KuCoin

How to Sell Crypto on KuCoin

To sell crypto through KuCoin, make sure that the token you want to sell is funded in your account. Then, use the exchange to swap crypto for fiat currency. You can also use the advanced trading platform to place a sell order on your tokens.

Final Thoughts

KuCoin allows both newcomer investors as well as experienced veterans to engage in the process of buying, selling, staking, and lending literally hundreds of cryptocurrency tokens using just about any mobile device.

Additionally, KuCoin offers both a simple exchange and an advanced spot trading platform to appeal to different trading strategies.

That said, while you have the option to complete the Know-Your-Customer (KYC) procedure, it is not mandatory, although the experience will be very limited without it.

However, KuCoin is not insured and only stores funds in hot wallets. Nonetheless, it is extremely simple to use and has some of the lowest fees as compared to other exchanges. Note that it is important to do your own extensive research before using any exchange, as virtual currencies are volatile and regulations vary.

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