KuCoin Review

kucoin-review

KuCoin is an exchange that offers a wide range of trading options accompanied by a good interface and high security, and it is one of the platforms that have not experienced a breach since its introduction. With the aim of expanding into as many regions as possible, Kucoin is expanding its arsenal to include other crypto pairs and instruments such as leverage trading to its arsenal.

The platform also has its own native token (KCS) that provides benefits if you decide to buy it. While they are a reputable platform they also do a lot of promotions and bonuses to attract new users.

Pros / Cons
  • 70+ Cryptocurrencies
  • Debit/Credit cards accepted
  • Lack of customization of the UI
  • No FIAT options beside stable coins for trading
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KuCoin Features Review

MarketsCrypto
Supported countriesWorldwide
KYCAvailable as an option
LeverageLeverage of 20x on KuMex
Deposits70+ Cryptocurrencies and Credit/Debit cards
Min. Deposit1$
Max. Withdrawal Limit2 BTC per 24 with no KYC
Trading fee0.1%
Supportlive chat
Mobile appAndroid and iOS

 

Security Review

KuCoin implements multi-layer security with a notification system, you have the 2FA Google Authenticator, phone notifications, e-mail, anti-phishing safety phrase, and trading password. Of course, the exchange also uses Hot and Cold wallets to store its assets, this is a mandatory rule for any self-respecting exchange in the crypto industry.

A trading password can really protect your funds if someone manages to log into your account, as it will prevent them from trading the assets and withdrawing anything.

On top of the standard security instruments, they added additional bank-level disaster-proof deployment as they have centers in many locations to keep the platform running even in the case of failure at one of the sites. This system is incorporated in every aspect of the exchange, adding another level of security. 

Regardless of the high-security level of KuCoin, you should never hold all of your trading assets on the platform. If you plan to buy an asset and hold it for a longer period of time, it is imperative that you keep it in a personal cold wallet.

Deposits and Withdrawals

On KuCoin you can deposit, trade, and withdraw with over 70 cryptocurrencies. It is a crypto to crypto exchange, and the aim here is to offer users a wide variety for investing and trading, taking its place alongside Binance, as they are aiming for the same user group.

In addition to crypto deposits on Kucoin, you have the option to buy Bitcoin with fiat currencies with debit, credit cards via Simplex. 

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User Interface Review

Spot trading UI

kucoin-spot-UI

The interface of KuCoin is very nice and effective as everything is put in a way that is intuitive and you can go very fast to adjusting and checking the price on the buy, sell orders, or directly to another trading pair.

You cannot change the interface like on the other platforms, where you can customize it to suit your needs. Here you have a static interface, which can be a problem for the hardcore traders, of course, the UI is built in a way that you will most likely find no need to adjust the layout.

On the left side, you have the “Pair” tab and a very nice distraction, a “Market News” tab, which can be useful if you have groundbreaking news for a project. You will have the ability to react and either sell or buy the news.

In the middle you have the chart and the Open Orders, Stop Orders, and Order History tab. The chart has all the instruments needed for charting and can of course be stretched to full screen.

On the right side is the tab for buy and sell orders, at the bottom right is the order book with the most recent trades and market depth.

Basically, the interface is aiming to provide everything in a very effective and intuitive way. It is almost succeeding as there is always a place for more improvements like being more customizable, this is the place where more work is needed.  But for basic exchanging (if you are not a hardcore trader) crypto to crypto, it is perfect, it fulfills its purpose.

Futures Trading UI

kucoin-futures-UI

light-futures-UI

You have the option to trade perpetual contracts and on a completely different user interface – the leverage trading platform – Kumex, which is seamlessly implemented on Kucoin. It meets all the requirements for the effective trading of perpetual contracts with high leverage. The design of the UI is going after a more minimalist design while offering two versions – Lite and Pro. 

Lite UI Breakdown

The Lite Futures UI is very minimalist in design and unique compared to other platforms on the market.  It simplifies the process by a high margin making it suitable for beginners. The chart design is very simplistic and the charting instruments are not present in this version of the UI. 

On the right side, you will find the “Order” tab, which is seamlessly implemented thanks to the design and gives a clear picture of the order settings. The lite version is not customizable at all, its goal is to provide new traders with a simple, ready-to-use trading environment.

Pro UI Breakdown

The Pro versions come with all the expected instruments, indicators and charts while maintaining a more professional design philosophy than the greatly simplified, user-friendly Lite interface. The chart here has all of the indicators present, making it possible to do proper charting. On the left, you have the order tab, additional order information, and the order book. On the right, you find the tabs with a Market depth chart and Recent Trades. 

Kucoin has outdone themselves and they have launched their futures platform, Kumex, with outstanding user interface design.

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Trading fees breakdown

Kucoin Spot and margin trading fees

KuCoin has a trading fee of 0.1%, which is somewhere in the middle for the industry. It is neither the highest nor the lowest, but it corresponds to the largest exchange in the market – Binance. With the native token of the KCS platform, you can reduce the fees depending on how much of the token you hold and how much you trade. It is a tiered system where your fees are reduced gradually to the lowest of 0.0125% for Maker and 0.03% for Taker.

Spot trading fees:

  • Maker: 0.1%
  • Taker: 0.1%

Futures trading fees:

  • Maker: 0.02%
  • Taker: 0.06%

Options and Order types

markets-new

As KuCoin is mainly crypto to crypto exchange, it offers over 100 trading pairs for trading. For those who want to exchange their cryptocurrencies for USD pegged stable coins, Kucoin gives this option with stable coins like USDC, USDT, PAX, TUSD, and DAI.

On the order side, you have the mandatory order types – Limit, Market, Stop-Market, Stop-Limit. For the additional advanced options, you have Post only, Hidden,  Good-till-canceled, Good-till time, Immediate-or-Cancel,  Fill-or-Kil. Nothing out of the ordinary, as you have everything you need for effectively trading Bitcoin and other cryptocurrencies.  

You will find the option for futures trading, perpetual contracts with high leverage of up to 100x. At the moment you can only trade BTCUSD with 3 different types of contracts, standard contracts, and 2 quarterly contracts. The standard contract acts in the same way as on other competitors, giving you full control over the duration of the contract while the other two are time-based contracts with an expiration date.

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Affiliate program

Kucoin’s affiliate program is very simple and gives you 20% of the trading fees of users who register via your own link.

The Kucoin program has a negative side, namely that the reward for each new user lasts for one year and that the reward is paid only in the native token of the platform – KCS.

Is KuCoin a scam?

KuCoin is a young exchange, and for a short time, it has shown that it is one of the better ones. There is a KYC procedure, which is not mandatory, but it is there if you want to increase the limits for withdrawal of your account. Having a KYC only shows that the exchange is far from being a scam, as handling personal information is very serious work. Kucoin is backed by some of the biggest companies like IDG Capital founded in Boston in 1992 which has investments in Tencent, Ripple, Coinbase, Opera, Legendary. The other partner is Matrix Partners which was founded in 1977 with a company portfolio including Kucoin and Baidu, DiDi, Momo, VipKid and more 

KuCoin Review Conclusion

With the addition of Kumex, Kucoin has become an exchange that offers a complete package of services for the crypto market. From spot to futures trading, with a user experience that you won’t find with most competitors. From a design point of view, Kucoin shines with its new minimalist UI design while adding more and more tools for its customers. As it is a secure exchange, many people prefer to buy into their favorite project here, as the exchange also has good liquidity on most assets. 

Kucoin offers a smooth platform and liquidity and impresses with its latest additions and continues to expand its infrastructure for the future. Kucoin is an excellent exchange for the daily user but also offers something for the experienced traders on its Kumex leveraged trading platform, which is seamlessly integrated into the platform’s ecosystem, and if you decide to use it as your main trading hub, you will not make a mistake.

 

 

KuCoin is a growing exchange with over 70 cryptocurrencies for trading and investing.