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KuCoin was launched in 2017 and quickly rose to fame for its wide range of available cryptocurrencies. Along with this, they offer highly secure accounts and transactions, a very friendly interface, and a Peer-to-Peer exchange. KuCoin caters for a large variety of coins, that includes lesser-known crypto projects with great potential.
- Funding Methods: Credit Card, Debit Card, Crypto Transfer
- Supported fiat: USD, EUR, GBP, AUD, PHP (and 45 more)
- Cryptocurrencies: 500+
- Website: www.kucoin.com
WE RECOMMEND BINANCE
KuCoin History and Background
The exchange launched in August 2017, however the founding members have been constructing the exchange since 2011. It took them several years, and several hacks to build KuCoin into what it is today- a secure and friendly crypto trading platform that can be used by all kinds of traders.
During its development, KuCoin started issuing native KuCoin Shares (KCS) to its users in order to fund the operation of the exchange. They used those funds to build a community of dedicated KuCoin clientele.
In 2019, they improved their interfaces to be more beginner-friendly and to take care of the advanced needs of veteran traders such as more advanced order types, new API and other functions. It was the middle of 2019 when they launched KuMEX (currently called KuCoin Futures) and Margin trading, which is famous for the possible 100x leverage.
In the year of 2020, they experienced their biggest upset- a major hack that took $280 million worth of crypto assets from the cold wallet of their clientele. And as such, the trust of the public went down quickly. Despite this KuCoin remains a prevalent exchange. This hack became a driving factor for KuCoin to up their security and their features in order for them to ensure that KuCoin is a safe environment for their users.
What Cryptocurrencies Can You Buy on KuCoin?
Currently, there are over 500 cryptocurrencies available on KuCoin marketplace with more than 1000 trading pairs, putting them way ahead of the market average. KuCoin also has their own token, KuCoin Shares (KCS) token, that can be used to reduce trading fees and provide perks for its holders.
Setting up a KuCoin Account
It is very easy to set up a KuCoin account, it will only take 10 minutes at most to create and verify your account.
Step 1: Go to Kucoin.com and select Sign Up.
Step 3: Next is to activate your account by getting the verification code from your chosen email address or phone number.Once done, click Activate Account.
Step 4: Congratulations, you now have a Kucoin account and can move on to getting verified.
The steps to open up an account on KuCoin:
Open www.kucoin.com and select "Sign up".
Type in your email/phone number and password.
Activate your account by getting the verification code from your chosen email address or phone number.
Click Activate Account and move on to getting verified.
KuCoin boasts i relatively small trading fees with straightforward structure.
- To start with, KuCoin spot trading fees are fixed at 0.1% of the transaction.
- However, if you’re a KCS token holder, you are also entitled to an additional trading fee discount.
Here are the first few levels of their fee structure:
KuCoin Futures trading has a flat rate of 0.025% fee for every transaction. This fee can again be reduced if you’re a KCS holder.
Lastly, KuCoin cryptocurrency withdrawal fees depend on the type of coin you will be withdrawing. Each ‘network’ fee is related to the cryptocurrency and not the Kucoin exchange.
|Level||30d Trade Volume (USD)||&||BNB Balance||Maker / Taker||Maker / Taker (25% off with BNB)|
< 50,000 USD
≥ 0 BNB
0.1000% / 0.1000%
0.0750% / 0.0750%
≥ 50,000 USD
≥ 50 BNB
0.0900% / 0.0900%
0.0675% / 0.0675%
≥ 100,000 USD
≥ 100 BNB
0.0800% / 0.0900%
0.0600% / 0.0675%
≥ 500,000 USD
≥ 200 BNB
0.0700% / 0.0800%
0.0525% / 0.0600%
≥ 1,000,000 USD
≥ 400 BNB
0.0500% / 0.0700%
0.0375% / 0.0525%
≥ 5,000,000 USD
≥ 800 BNB
0.0400% / 0.0600%
0.0300% / 0.0450%
≥ 10,000,000 USD
≥ 1500 BNB
0.0000% / 0.0600%
0.0000% / 0.0450%
≥ 25,000,000 USD
≥ 2500 BNB
0.0000% / 0.0500%
0.0000% / 0.0375%
≥ 100,000,000 USD
≥ 4000 BNB
0.0000% / 0.0400%
0.0000% / 0.0300%
≥ 250,000,000 USD
≥ 6000 BNB
0.0000% / 0.0300%
0.0000% / 0.0225%
≥ 500,000,000 USD
≥ 6000 BNB
0.0000% / 0.0200%
0.0000% / 0.0150%
KuCoin Deposit and withdrawal methods
For deposits, you can use fiat currency supported by the exchange (full list here), and/or crypto assets from other wallets. Cryptodeposits have no fees but your deposit should be at least $5.
For withdrawals, KuCoin has a small fee depending on the cryptocurrency you’ll be withdrawing, the fee won’t exceed 0.1% of the transaction. You also have a withdrawal limit depending on the type of account you have, for instance:
- Unverified accounts, requiring only email verification and will only let you withdraw up to 2 BTC within 24 hours.
- Verified Individual account, will require you to submit information under the Know Your Customer (KYC) protocol, this increases your withdrawal limit to 100 BTC per day Verified Institutional account, allows the user to withdraw up to 500 BTC in 24 hours with institutional trading perks.
Deposit Options for Binance
|Deposit method||Buy||Sell||Processing time|
BANK ACCOUNT (ACH)
CREDIT / DEBIT CARD
Withdrawal options for the Binance are almost the same as the deposit options.
- Cryptocurrency: You can send cryptocurrency out of your Binance wallet into another cryptocurrency wallet. To do this, select the cryptocurrency that you want to send out, and click on “Withdraw”. Select a network you want to use for the transfer and the amount of crypto you want to send. Then you can submit the transaction to the network.
- Fiat: Just as you used your credit card and bank transfer to fund your wallet, you can explore these means to withdraw funds from your Binance wallet into your local bank.
- P2P Trading: Some countries do not support cryptocurrency transactions. Traders from these countries can sell their cryptocurrencies on the Binance P2P platform and get paid in their local currency.
Is KuCoin Safe?
Kucoin has been around for over 5 years as a ‘tier 1’ exchange, and claims to store a majority of its users assets in cold-storage, safe from malicious actors.
In addition to that, individual user’s accounts are all secured with two-factor authentication, security questions, anti-phishing safety phrases and even a trading password which you’ll have to enter before each trading session.
KuCoin Mobile App
Available for Android and IOS, KuCoins mobile app offers the same trading features as the online platform with a simplified on-the-go trading experience. However, the app feels cluttered with excessive information which may feel overwhelming for beginners.
KuCoin EducationKuCoin provides tons of basic to advanced guides filled with photo references, and videos that will help their users navigate the platform and how to make your first trades. h
As a global exchange, they offer 24/7 global support to all their crypto exchange users worldwide.
Their main support feature is KuCoin Emilia- a chatbot that can guide you through the platform and can answer most questions their users have.
If KuCoin Emilia does not satisfy your dilemma, you can contact email support: firstname.lastname@example.org or get in touch with their social media pages, such as Twitter.
Frequently Asked Questions
Step 1. Open KuCoin and login to your account.
Step 2. On the platform, click Assets. On the mobile app, find the tab on the bottom of the interface that looks like a wallet. After that, choose to withdraw.
Step 3. Fill in the needed information to withdraw. Select the coin you want to withdraw. FIll in the required wallet address and choose a corresponding network. Finally, select confirm.
Step 4. Verify the transaction by providing your trading password, verification code and 2FA code to confirm the withdrawal request. And then you’re done!
KuCoin is very accommodating for new investors. As mentioned, their interface is properly labelled and iconed to not confuse any new users. Their site is also littered with FAQs to aid the navigation of new users. And in the case of total newbies, they have extensive guides to help them know how buying, selling and trading cryptocurrency works.