KuCoin review 2018 | Features, fees and more | finder.com

KuCoin exchange review – November 2018

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Find rare new alts on the KuCoin exchange.

KuCoin is a cryptocurrency exchange. Its defining features are an exceptionally wide range of cryptocurrencies plus a rewarding user-loyalty scheme based on its own native cryptocurrency.

Product Name KuCoin Cryptocurrency Exchange
Fiat Currencies -
Cryptocurrencies BTC, BCH, DAG, ETH, XRP, EOS, LTC, ADA, TRX, NEO, ONT, STEEM, BTM, BCD, ZINC, VET, OLT, NUSD, LOC, ZEN & 50+ more
Deposit Methods Cryptocurrency
Trading Fee 0.1%
Deposit Fees None
Withdrawal Fees Fees vary

Pros

  • Offers an exceptionally wide range of currencies.
  • Is an early adopter of promising new coins.
  • No verification required.
  • Additional features and benefits offered by KCS.

Cons

  • Cryptocurrencies only. No fiat currency accepted.
  • KuCoin sometimes experiences difficulties during high traffic periods.
  • It’s based in Hong Kong, so it may be difficult to find English-language support if needed.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

What is KuCoin?

KuCoin is a Hong Kong-based cryptocurrency exchange distinguished by its rewards currency, KuCoin Shares (KCS), and its exceptionally wide range of cryptocurrencies.

It has a reputation as an early adopter, so buyers hoping to hold coins while they’re still cheap might want to consider KuCoin. On top of this, it offers a useful charting package, which is powered by the third-party TradingView system, to suit more focused traders.

Its fees are also fairly reasonable and lower than many other exchanges.

The main downside is that it doesn’t deal in any fiat currencies. You’ll need to have BTC or ETH to trade the full range of available coins. You can also trade a more limited selection with NEO, BCH, USDT (Tether) or KCS (the exchange’s own coin).

KuCoin dashboard interface

Benefits of holding KuCoin Shares

KuCoin offers users the unique chance to hold the platform’s own native cryptocurrency, KuCoin Shares (KCS), which users can hold in order to receive discounts while trading as well as receive dividends from trading fees collected on the platform.

Holders receive a 1% discount on trading fees for every 1,000 KCS they hold, up to a maximum of 30%.

The dividends system is what sets KCS and KuCoin apart from other exchange coins. KuCoin pays out 50% of all fee revenue from the platform each day, which is equally divided between every KCS token held on the platform.

This means a user who holds upwards of 1,000 KCS receives both a discount on all trading on the platform as well as a passive income on a daily basis. KuCoin shares may also be traded with several coins, but KuCoin shares may only be purchased on the KuCoin exchange.

What can I buy on KuCoin?

KuCoin currently only offers trades between cryptocurrencies, meaning it doesn’t let you buy cryptocurrency with fiat currency. However, KuCoin does offer a large range of altcoins, which can be traded with six different cryptocurrencies (called a trading pair), including BTC, ETH, NEO, USDT, BCH and KCS. You can find a full list of available coins on its website.

What are the fees?

There are no deposit fees other than what you might usually pay for transferring a certain currency. Trading fees are set at a competitive 0.1% minus any discount you get from holding KCS.

Withdrawal fees vary by currency. Some are completely free, while others are fairly expensive.

Pros and cons

Pros

  • Offers an exceptionally wide range of currencies.
  • Is an early adopter of promising new coins.
  • No verification required.
  • Additional features and benefits offered by KCS.

Cons

  • Cryptocurrencies only. No fiat currency accepted.
  • KuCoin sometimes experiences difficulties during high-traffic periods.
  • It’s based in Hong Kong, so it may be difficult to find English-language support if needed.

How do I make a trade on KuCoin?

You can view the markets on KuCoin without registering for an account, but to actually make a trade, you will need to sign up and log in.

  • Visit KuCoin and sign up for an account. Make sure to go the extra step and set up 2-factor authentication (2FA) right away. You can activate 2FA by going to Account and Google 2-Step.
  • Next, you’ll want to add some funds to your account to trade for altcoins. KuCoin hosts an impressive number of trading pairs, so you can use either BTC, ETH, NEO, USDT or BCH for trading.
  • To send coins, navigate to your wallet by clicking on Assets on the top banner. This shows all your available coin balances. Next, click Deposit. By default, it will show KuCoin Shares. Click on the name to reveal the dropdown menu and select the coin you want to deposit.
  • Your deposit address and QR code will be revealed. Copy the deposit address into your withdrawal account exactly as it is written. Once you confirm the transfer, wait patiently for the funds to arrive in your KuCoin account. You should receive an email once they have been received.
  • Once your funds have arrived, navigate to Markets via the top banner menu. You will then need to select the currency you deposited, which will allow you to trade all altcoins paired with that coin. Click on the altcoin pair you wish to trade. For example, clicking on ZIL/BTC will allow you to trade BTC in return for ZIL.
  • Once you select the pair you wish to trade, you will be taken to a new screen that displays a chart with price over time, the order book (supply/demand), price data and trade history. The box in the bottom right corner will ask you to input your two-step verification code.
  • This box is where you can buy and sell your cryptocurrency. Use the green box on the left to input the price you wish to pay per unit of the coin, then the total amount of coins you wish to purchase. To make things easier, there is a slider that you can adjust to spend a percentage of your spendable holdings. The box to the right allows you to follow the same process to sell a coin.
  • Once your trade has been lodged, you will need to wait until there is a corresponding buy/sell order. Once the trade has been matched, the coin will show up in your wallet immediately, which can be accessed via the Assets tab.
  • After you are done trading, you may keep your coins on KuCoin or move them to another wallet. As always, we recommend keeping your coins in a hard wallet to increase your safety and keep full control over your cryptocurrency. For those new to wallets, our essential guide can be found here.

How to access KuCoin

  • Web
  • Mobile
  • iOS app (beta)
  • Android app (beta)

FAQs

Next steps

You should carefully consider the features of KuCoin before deciding whether it suits your needs. If you want to proceed, simply sign up for KuCoin with an email address and password, verify your email and then start trading by making a deposit from your wallet.

Image source: KuCoin

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4 Responses

  1. Default Gravatar
    HinaOctober 10, 2018

    How can I buy Electroneum?

    • finder Customer Care
      JhezelynOctober 10, 2018Staff

      Hello Hina,

      Thank you for your comment.

      If you’re referring to buying Electroneum in Kucoin, open a Kucoin account first. After creating an account, transfer Ethereum from Coinbase to Kucoin (you must have a coinbase account with Ethereum in it).
      – Go to your Coinbase account and click on Accounts at the top of the page.
      – Next, scroll down and click on Ethereum. Then, click on Send.
      – Now you need to enter the Kucoin wallet address that you want to send the funds to.
      – In Kucoin, click on Assets.
      – In the search box, enter Ethereum and then click on Deposit.
      – You will now be asked to install Google Authenticator. Click Next and then follow the instructions. This is important and adds extra security to your account.
      – Once you have set up Google Authenticator, go back to step five by clicking on Deposit. You will then see the warning message. This is to make sure you are depositing the correct coin (which in our case is Ethereum). Then click Confirm.
      – You will now see you unique Ethereum wallet address for Kucoin. Copy it to your clipboard.
      – Now, go back to Coinbase and paste the address into the required field. Once you click Send, your Ethereum coins will be sent to your Kucoin account. This can take up to 10 minutes to complete.

      To Buy Electroneum on Kucoin, please see the continuation below:
      – Once your Kucoin account is funded with Ethereum, click on Markets at the top of the page.
      – Next, click on ETH and then in the search box enter ETN then click on ETN/ETH.
      – You are now on the main trading screen for the Electroneum/Ethereum exchange! Look for the green buying box in the bottom right part of the page.
      – Now, click on the blue Best Price link and enter the amount of Electroneum coins you want to buy.
      – Finally, to complete your trade, click on the green BUY As you clicked on best market price, your trade should complete within a couple of seconds.

      I hope this helps. Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  2. Default Gravatar
    GeorsadlerAugust 10, 2018

    Is there a daily limit to the number of times you can buy and sell a crypto?

    • finder Customer Care
      CharisseAugust 17, 2018Staff

      Hi Georsadler,

      Thank you for leaving a question on finder.

      If you are pertaining to KuCoin, currently they don’t have any daily buy/sell limit. Trading limits may vary from one exchange platform to another.There are some exchange platforms which have daily trading limits while some would base their limits on your level of verification. Traditional exchanges tend to have lower transaction and withdrawal limits as compared to OTC exchanges. You may read more about cryptocurrency transaction limits on this page.

      Hope this helps!

      Cheers,
      Charisse

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