- KuCoin has more altcoins listed on the exchange than any other cryptocurrency exchange in the world.
- Buggy and crowded user interface with too many options
KuCoin is best known as a centralized crypto exchange that supports over 700 crypto assets, one of the widest selections of altcoins on any centralized exchange.
The exchange also enables you to trade crypto assets at low fees, which makes it great for crypto enthusiasts who like to trade a vast array of digital assets at low rates.
For advanced users, KuCoin offers investment products like derivatives, margin trading, staking, lending, automated trading bots and mining pools.
If you are new to crypto and are just looking to gain some exposure to blue chip crypto assets, then you might not need all that KuCoin has to offer. But if you’re an advanced user or an “altcoin degen,” then KuCoin is likely the exchange for you.
|Name||KuCoin Cryptocurrency Exchange|
|Deposit methods||Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, P2P, Zelle|
|Supported Cryptocurrencies||BTC, ETH, BNB, XRP, ADA, DOT, EOS, LTC, UNI, USDT, USDC, DAI|
|Trading Fee||Maker: -0.005-0.1%
|Withdrawal Fees||Cryptocurrency: Fees vary|
|Fiat Currencies||USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND|
KuCoin launched in 2017 and is based out of Seychelles.
It was born of the ambitions of “two tech geeks” who were early blockchain adopters and who have been engaging with Bitcoin since 2012.
Since then, KuCoin rose to prominence as an innovator in novel trading products and a first-lister of niche altcoins. Because of this, KuCoin markets itself as the “Top Altcoin Exchange”.
The exchange currently has more than 10 million users worldwide and does almost US$750 billion in daily trading volume.
KuCoin supports over 780 cryptocurrencies, but some notable assets are missing. Namely, Tether, USDC and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 16 of the top 20 cryptos are available on KuCoin.Popular assets on KuCoin
|Withdraw funds||Cryptocurrency: Fees vary
|Other fees||No fees for P2P transactions
KuCoin uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.
Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.
Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.
Before you can even get started trading on KuCoin, you have to go through the rigorous verification process (which usually involves proof of identification). This can take quite a long time. The reason for this is KuCoin's commitment to certifications, and compliance with regulations and insurers.
KuCoin was one of the first cryptocurrency exchanges to offer a fully featured mobile application. The KuCoin app is available for Android and iOS mobile devices.
You will immediately notice the difference in UX (user experience) between the web and mobile versions of the exchange: the web version defaults to a light mode while the mobile app version defaults to dark mode.
On the bottom of your screen in mobile (for iOS) you will see the options of Home, Markets, Trade, Futures and Assets, whereas on the desktop version your menu will look different.
Some will find the mobile version of KuCoin overwhelming, because it’s loaded with information. Cryptocurrency beginners may find the desktop version to be a better starting place.
KuCoin has had a bumpy road with respect to the level of trust it attained with its user base. However, despite past hacks and reports of missing funds, KuCoin provides many opportunities to secure individual accounts which increases trust in the overall exchange.
Regardless of the shortcomings, KuCoin maintains and implements the latest security standards from an individual user account perspective. Users are encouraged and walked through the process of setting up 2-factor authentication (2FA), a safety phrase, a trading password, segregated accounts, whitelisted crypto addresses and whitelisted IP addresses. This adherence to the latest security standards improves KuCoin’s overall trust rating.
KuCoin has released no official third-party security audits or insurance providers.
Past hacks. The most notable hack on KuCoin occurred in September 2020 when hackers stole close to US$200 million worth of cryptocurrencies from KuCoin wallets. However, most of these tokens were able to be frozen, destroyed and reissued into KuCoin’s possession. The ability to essentially reverse the hack through direct means calls into question whether or not KuCoin or these projects inhabit the quality of immutability present within cryptocurrencies such as Bitcoin.
Other cohorts of users report funds being missing or failing to be credited to their account after a deposit. While many of these stories are anecdotes, they have eroded trust in KuCoin enough to bring fault to their reputation as being a trusted cryptocurrency exchange.
All centralized exchanges, including KuCoin, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet
Trezor Model T Wallet
SafePal S1 Wallet
See more of the best crypto wallets
KuCoin has decent customer support due to its variety of support mechanisms. Users are typically able to find their own answers through KuCoin’s comprehensive FAQ. However, if the query can only be solved using the help of KuCoin staff, users will need to submit a form, enter a live chat or ask a question on a forum with other users.
The contact form is designed to narrow down the support request, suggest an FAQ topic, and if need be, connect the user with the necessary support staff. Similarly, the instant chat feature begins with your interacting with a support bot, only being connected with a human being in the event that the bot cannot solve the query.
While reports of customer service vary online, the general consensus is that KuCoin staff are supportive and generally able to solve issues faced by users. However, there are also a number of negative anecdotes from users stating that they’ve permanently lost funds due to transaction or technical errors.
Are you visiting from outside the US?
KuCoin Cryptocurrency Exchange is not currently available on Finder
Have you considered Kraken Cryptocurrency Exchange?
Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.
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October 09, 2018
How can I buy Electroneum?
October 09, 2018
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 your 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 chatbox on the lower right corner of our page.
August 10, 2018
Is there a daily limit to the number of times you can buy and sell a crypto?
August 17, 2018
Thank you for leaving a question on Finder.
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. If you are referring to KuCoin, they currently do not have any daily buy/sell limit.
If you are looking to buy a large amount of cryptocurrency, you can choose to either purchase through a traditional cryptocurrency exchange or to use an over-the-counter (OTC) exchange. Remember to check the pros and cons of each platform to see which one might be right for you.
Hope this helps!
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