This KuCoin review will explain why it is one of the exchanges where you go to exchange BTC for your favorite project. The exchange has a wide variety of trading options with a good interface and high security. It is one of the exchanges that have not experienced a breach since its launch. KuCoin is aiming to expand to as many regions as possible and is adding more cryptocurrencies to its arsenal for trading.
The platform also has its own native token (KCS) on which you have benefits if you decide to buy. While they are a reputable platform they also a lot of promotions and bonuses to attract new users as you can exchange and maybe win something at the same time.
KuCoin Features Review
|KYC||Available as an option|
|Leverage||Leverage of 20x on KuMex|
|Deposits||70+ Cryptocurrencies and Credit/Debit cards|
|Max. Withdrawal Limit||2 BTC per 24 with no KYC|
|Mobile app||Android and iOS|
KuCoin Security Review
KuCoin implements multi-layer security with a notification system which is quite handy. You have the 2FA Google Authenticator, as usual, phone notifications, e-mail, anti-phishing safety phrase, and trading password.
Of course, the exchange also has a Hot and Cold wallet for holding its assets, it is a mandatory rule especially when you are one of the big players.
Having a trading password can really protect your funds if someone manages to log-in to your account, as it will stop him from trading the assets and withdraw everything.
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 ongoing 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 high-grade security. KuCoin is a secured exchange and you can be sure that your capital is protected. Of course, you should never store your crypto on an exchange, this is a mandatory rule for every person in the industry, no matter how secured a platform is.
KuCoin Deposits and Withdraws Review
On KuCoin you can deposit with 70+ cryptocurrencies, trade and withdraw them. This is a crypto exchange and here the aim is to provide the users with a wide choice/variety for investing/trading as the exchange is taking its place alongside Binance, as they are aiming for the same user group.
Besides crypto deposits, you have the ability to deposit FIAT with Debit/Credit cards through Simplex. If you need a fast way to get crypto KuCoin gives you this option too. Of course, it is not the only one because this option is present on Binance and PrimeXBT too.
KuCoin User Interface Review
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.
You cannot modify the interface like on the other platforms where you can adjust it the way you want. Here you have a static interface which may be a problem for the hardcore traders, of course, the UI has everything you need.
On the left, you have the pair tab and a very nice distraction a market news tab, which can come in handy if you have groundbreaking news on it for a project. You will have the opportunity to react and either sell or buy the news.
In the middle, you have the chart and the Open orders/Stop order and order history tab. The chart has all of the needed instruments for charting and of course, can be stretched to full screen.
On the right side comes the order tab for buying and selling and on the far right you have the order book with recent trades/market depth on the bottom.
Basically, the interface is aiming to provide everything in a very effective and intuitive way. It is almost succeding as there is always a place for more improvements like being more customizable, this is the place where it needs more work. But for basic exchanging (if you are not a hardcore trader) crypto to crypto, it is perfect, it fulfills its purpose.
Trading fees breakdown
KuCoin has a 0.1% trading fee, which is somewhere in the middle for the industry. It is not high and it is not the lowest but it is the same as the biggest exchange on the market Binance. With the native token of the platform KCS you can lower the fees depending on how much of the token you hold and your trading volume. It is a tiered system with your fees going down to 0.0125% for Maker and 0.03% for Taker.
KuCoin Options and Order types Review
As KuCoin is a crypto to crypto exchange it offers over 70 cryptocurrencies for trading/exchanging. You may find your favorite project listed here as it has projects that are nowhere else to be found.
On the order side, you have the mandatory Limit/Market/Stop-Market/Stop-Limit order types. For the additional advanced options, you have Post Only/Hidden and Good-till-canceled/Good-till-time/Immediate-or-cancel/Fill-or-Kill. Nothing out of the ordinary as you have everything you need for exchanging effectively crypto. Of course, there is always a place for more advanced orders for even better results.
KuCoin has an ambassador program that can be quite extensive and with high requirements for most of the individuals. But if you manage to get qualified, you can reap big benefits.
The program requires you to identify your self, point out the country, your website, phone, company, and website. As they are looking for high profile people or websites who can help promote their business.
Is KuCoin a scam?
KuCoin is a young exchange and for the short period it has been out it proved that it is one of the better ones. They have a KYC that is not mandatory but it is there if you want to reach the full limit of your account. Having KYC only points the exchange far from it being a scam as personal information handling is a very serious work.
KuCoin Review Conclusion
Aiming to be the one-stop of the industry, KuCoin is also preparing a leverage trading platform KuMex. It will become a complete package for traders and investors. With its wide range of cryptocurrencies, you are definitely going to find the project you need here. The UI is good and doing the job for exchanging crypto to crypto, but if you want to truly trade like a pro and make big profits this is not the place for now. Not until they launch KuMex it will unlock this possibility for all of its userbase.
Being a secure exchange many people prefer it for their destination to buy-in into their favorite project, as the exchange also has good liquidity on most of the assets. It is a good exchange and if you decide to use instead of Binance as your main you will not make a mistake.
Pros / Cons
- 70+ Cryptocurrencies
- Debit/Credit cards accepted
- Lack of customization of the UI
- No FIAT options beside stable coins for trading