Kucoin Review 2024

KuCoin is a centralized cryptocurrency exchange founded in 2017. Its country of registration – Seychelles. On 8 April 2024 the number of trading pairs available for trading: 1185. KuCoin last 24-hour trading volume is $1,043,431,862. It changes to +33.81% compared to the previous 24-hour period. BTC/USDT is the most popular trading pair, its trading volume is $262,149,764 in the last 24 hours. The exchange has 10 of 10 possible reliability scores and provides clients with access to fiat currencies.
Volume (24h)
$1,043,431,862+33.81% ↑
Pairs
1185
Rating
10 / 10
Country of registration
Seychelles
Fiat
TOP 10 pairs by volume
Pair
Price
24h Volume
Spread
Price change in 24h
Pair
BTC/USDT
Price
$71,631.00
24h Volume
$262,149,764
Spread
+0.01%
Price change in 24h
+$2,315.00 ↑ / +3.34%
Pair
ETH/USDT
Price
$3,640.13
24h Volume
$152,742,004
Spread
+0.01%
Price change in 24h
+$239.56 ↑ / +7.04%
Pair
SOL/USDT
Price
$180.20
24h Volume
$46,644,763
Spread
+0.01%
Price change in 24h
-1.070 $ ↓ / -0.59%
Pair
DOGE/USDT
Price
$0.20237
24h Volume
$38,890,900
Spread
+0.01%
Price change in 24h
+$0.0019140 ↑ / +0.95%
Pair
ENA/USDT
Price
$1.280
24h Volume
$29,038,865
Spread
+0.06%
Price change in 24h
+$0.06000 ↑ / +4.92%
Pair
WIF/USDT
Price
$4.130
24h Volume
$21,380,751
Spread
+0.04%
Price change in 24h
+$0.48000 ↑ / +13.15%
Pair
NEAR/USDT
Price
$7.25
24h Volume
$19,762,876
Spread
+0.02%
Price change in 24h
+$0.28000 ↑ / +4.02%
Pair
XRP/USDT
Price
$0.6143
24h Volume
$18,714,481
Spread
+0.01%
Price change in 24h
+$0.015666 ↑ / +2.62%
Pair
ICP/USDT
Price
$17.77
24h Volume
$14,995,528
Spread
+0.02%
Price change in 24h
+$0.43000 ↑ / +2.48%
Pair
SHIB/USDT
Price
$0.000028550
24h Volume
$10,125,037
Spread
+0.02%
Price change in 24h
-0.00000001000 $ ↓ / -0.04%

    KuCoin is a major cryptocurrency exchange with low fees and a wide range of additional features. The exchange was founded in August 2017 in Hong Kong. The purpose of creating this platform is to provide users with the most simple and safe platform for cryptocurrency trading.

    KuCoin has an native token KuCoin Shares (KCS) which is developed on the Ethereum blockchain and work on ERC-20 standard. Using this token provides holders with benefits such as receiving dividends, discounts on commission payments, etc.

    The platform supports 20 languages: English, French, German, Portuguese and others, which expands the circle of its users.

    Registration and account verification

    Signing up for KuCoin is relatively easy. It can be accessed using email or phone number. To register on KuCoin, you need to follow the instructions:

    1. Open KuCoin main page;
    2. Press Sign Up at the top of the page;
      Site Home Page
      Kucoin main page
    3. Enter e-mail or phone number, strong password consisting of upper and lower case letters and numbers;
      Start registration
      Registration start
    4. Click Send Code and check your email or phone for the verification code you need to enter below;
    5. Agree to the Kucoin terms of use, click Next, fill in the captcha.
    The Account is registered - you can make a deposit or buy cryptocurrency to start trading.

    The account verification process is optional, so you can trade cryptocurrencies on Kucoin only registered by email address. However, you need to verify your account in order to access all the features of the exchange and increase withdrawal limits. After verification, the daily withdrawal limit increases to 1 BTC, leverage – up to 100x, daily limit for futures trading – up to 1400 USDT.

    To pass through the verification procedure, you need:

    1. Hover the pointer over the profile icon at the top of the page;
    2. Select KYC Verification → click Start Verification;
      Start verification
      Beginning of the verification process
    3. Select country, specify first name, last name, identity document and its number;
    4. Accept the terms of the user agreement;
    5. Press Submit.
    Individual account verification
    Individual account verification

    Account protection

    KuCoin offers the following security features:

    • Email confirmation when logging in;
    • Google Verification;
    • Encryption of all customer data;
    • Security questions and/or anti-phishing phrases;
    • Restricting IP address for log in process and more;
    • Additional password for trading.

    Let’s take a closer look at setting up 2FA using Google Authenticator. To set up Google Authenticator you need:

    1. Hover pointer over the personal account icon and click Account Security;
    2. Select Google Verification and click Configure;
      Account security settings
      Account security settings
    3. Press Send and enter the code that will be sent to the mail;
    4. Scan the qr-code through the Google authenticator pre-loaded on the phone;
    5. Enter the code from the application and press Activate. After that, 2FA will be enabled.
    2FA activation
    2FA activation

    For enhanced account security, it is recommended to use several available security options.

    In addition to these security features, the exchange has created a trading password option. It is a 6-digit number set for withdrawal, API verification and trading.

    In order to set it up, you need:

    1. Login to KuCoin account → click personal account icon → select Account Security from the dropdown menu;
    2. Select Trading Password → Set → enter a trading password (6-digit number) and confirm it.
    This password must be stored securely as it will be entered to get access to trading on the exchange.

    The account is registered. What’s next?

    In order to trade and use all the functions of the exchange, you need to replenish your account, understand the functionality of the platform, withdrawal rules, etc.

    Available deposit and withdrawal methods

    The crypto exchange allows you to fund up your account with cryptocurrencies and fiat. To replenish it with cryptocurrency you need:

    1. Hover pointer over the wallet icon and press Deposit;
      Start top up
      Starting a deposit replenishing
    2. Select a cryptocurrency to deposit, for example, USDT;
    3. Specify network, for example, TRC20;
    4. Copy the address and paste it into the field of the wallet from which the coins will be transferred;
    5. Confirm transaction.
    Cryptocurrency deposit
    Funding with cryptocurrency

    Trading conditions and instruments available on Kucoin

    The exchange offers traders the following features: transactions without verification, low commissions, a wide range of cryptocurrencies, buying cryptocurrencies by debit card, trading on spot market and with perpetual contracts.

    Buying by a debit card (Buy Crypto)

    To buy cryptocurrency by the card, you need:

    1. Hover pointer over Buy Crypto and select Fast Trade;
      Purchasing cryptocurrency with a card
      Buying cryptocurrency by the card
    2. Select the currency for payment, for example, EUR and specify the amount for which the purchase will be made;
    3. Specify cryptocurrency for buying — the system will automatically display possible payment methods;
    4. Click Buy USDT to buy Tether by EUR.

    Spot

    Spot trading is the most used feature on the platform. To trade on the KuCoin spot market, you need to fund your account up and click on Trade → Spot Trading.
    For more information about trading on the spot market, check: How to trade on the Kucoin cryptocurrency exchange.

    Spot Market is a market where you can sell/buy assets instantly.
    Spot trading
    Spot trading

    Derivatives

    KuCoin provides two versions of the futures platform: Futures Lite and Futures Classic.

    Futures Classic offers various popular leveraged crypto futures with a high level of security. Futures Lite is a simplified version of the current KuCoin futures platform that aims to minimize the complexity of the futures trading process.

    In addition, Kucoin offers users to use Leveraged Tokens, as well as receive rewards for participating in futures trading.

    The following types of perpetual futures contracts are available on the exchange:

    • USDT-M (base currency is USDT);
    • Coin-M (the contract is denominated in Bitcoin);
    • Metaverse;
    • NFT;
    • Defi.
    Types of contracts
    Types of contracts

    To trade derivatives, you need to replenish your USDt or Bitcoin wallet and then:

    1. Go to the page Derivatives → Futures Classic, select the desired trading pair;
    2. Create an order specifying the type, price and amount;
    3. Select leverage for trading;
    4. Press Buy/Long or Sell/Short.
    The expiry date of a futures contract is the last day the contract can be traded.

    The leverage percentage determines the amount of collateral. The maximum leverage value for derivatives trading on KuCoin is 100x.

    Derivatives trading
    Derivatives trading
    Always keep in mind that trading with leverage is very risky as you can lose your initial capital. Using margin will increases the amount of risk when investing in cryptocurrencies.

    P2P

    KuCoin provides P2P marketplace (peer-to-peer trading), where you can buy or sell cryptocurrency at an agreed price. The user can announce how much he is ready to buy or sell an asset for, and if another user agree to take this offer, the transaction will take place.

    P2P trading
    P2P trading

    Commissions and limits

    KuCoin charges fees for withdrawing, trading and buying cryptocurrency. Their sizes vary depending on the volume of trading volume, the market (spot or futures) user trades and on the using of the native exchange’s token KCS for paying fees.

    Spot trading fees start at 0.1% for maker and taker. When using KCS, their size can be reduced to 0.08%. Futures trading fees are start from 0.02% for the maker and 0.06% for the taker. Withdrawal fees vary depending on cryptocurrency.

    How to trade on the Kucoin cryptocurrency exchange

    It is easy to understand the interface and trading tools of the exchange. To buy and sell on KuCoin, you need to follow a simple instruction:

    1. Login to account;
    2. Check availability of funds in the exchange wallet;
    3. Select trading pair, for example, BTC/USDT;
    4. Enter trading password;
    5. Specify order, for example, Market;
    6. Fill up amount field;
    7. Press Buy BTC.

    The selling process consists of the same sequence of actions, the only difference is that the amount for selling is indicated on the right side of the screen, after which we click Sell BTC.

    You can track orders on the reports page in the Orders History section.

    Purchase on KuCoin
    Buying process on KuCoin

    Additional services of Kucoin exchange

    Among the additional services of the exchange:

    • Automatic execution of trades using a bot;
    • NFT marketplace;
    • Cloud mining;
    • Cryptocurrency lending

    There are more details on each service below.

    Trading bot

    KuCoin trading bot is a free software that can be used to cryptocurrency trading automation. The following trading bot strategies are currently supported: SpotGrid, DCA, Futures Grid, Smart Rebalance, Infinity Grid.

    The user can choose the rules for the bot, and it will automatically make trades. The system also displays the ranking of the most successful bots by daily or 7-day trading results. You can copy their configurations to create the same bot in your account.

    Trading Bots
    Trading bots

    NFT

    KuCoin launched IGO platform. There are X-Rush Genesis Mystery Box tokens, at the moment.

    IGO platform
    IGO platform

    X Rush is a game designed to give players the opportunity to race and shoot across multiple universes. Users with NFT tokens have certain advantages (passive income, use of NFT as an avatar, future airdrops, etc.).

    Mining

    KuCoin provides cloud mining platform.

    Cloud mining is a remote mining model that allows the majority of users to participate in token mining and jointly maintain the security of the main network. It is characterized by low cost, easy operation and stable access.

    The KuCoin pool is an important part of the global KuCoin ecosystem, and uses the same accounting system as the exchange to ensure security.

    Cloud mining
    Cloud mining

    Lending

    KuCoin Crypto Lending allows you to lend assets to the exchange and earn passive income. You can choose the duration of 7, 14 or 28 days. The annual percentage yield changes with the market and can reach more than 30%.

    Landing
    Lending

    Mobile Application

    KuCoin has a mobile app. You can download it in the App Store and Google Play for iOS devices and the official website of the exchange.

    Mobile app
    Mobile application

    Reviews

    On Trustpilot.com, you can see various Kucoin reviews. Among the positive reviews users feature the next pros:

    • Accessibility and ease of use of the platform;
    • High security level;
    • Reliability of the company.

    Negative opinions feature:

    • Difficulties with withdrawing of funds;
    • Problems with SEPA payments;
    • Security issues;
    • Non-operational support service.
    Trustpilot.com reviews about the exchange Kycoin
    Trustpilot.com reviews on Kycoin

    Pros and Cons

    Large exchange with high trading volume and support for 600+ cryptocurrencies;
    Available in 20 languages;
    Verification optional;
    Margin, spot and futures trading;
    Low trading commissions of 0.1% with an additional 20% discount when using the KCS token;
    Customizable trading bots for automated trading according to specified rules;
    Additional services: lending, cloud mining, etc.
    Cannot withdraw fiat currency;
    Does not support trading with fiat pairs;
    Problems with withdrawals;
    Complaints about the work of the support team;
    Low rating and many negative reviews on Trustpilot.

    FAQ

    What is Kucoin?
    KuCoin is a cryptocurrency exchange with low trading fees for spot trading and additional features such as futures, margin trading, lending service, trading bots and more.
    Can Kucoin be trusted?
    In September 2020, KuCoin was hacked, but the funds were covered by insurance and a big part of the cryptocurrency was returned to users. After that, the security of the exchange was strengthened.

    KuCoin uses several layers of security for users' accounts:

    • Two-factor authentication (2FA) via an authentication app;
    • Encryption of customer data;
    • Email confirmation when login;
    • A separate password for trading.

    How to trade on Kucoin?
    In order to trade on Kucoin, you need:

    1. Top up exchange account;
    2. Open, for example, spot trading;
    3. Select a trading pair, for example, BTC/USDT;
    4. Specify the type of order, for example, Market;
    5. Fill up amount field;
    6. Press Buy BTC.

    How to deposit on the Kucoin exchange?
    You can deposit using fiat or cryptocurrency. To do this, open Wallet → Deposit fiat or Deposit Crypto and then follow the instructions of the exchange.
    How to buy on Kucoin?
    You can buy cryptocurrency on Kucoin in the following ways:

    • Via the trading terminal;
    • Using a payment card;
    • With a P2P marketplace.

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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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