Kucoin Review for 2023 - Safety, Fees, and Coin Selection

Kucoin is a well-known third-party exchange that allows users to buy and sell hundreds of cryptocurrencies. The platform is often regarded as one of the cheapest exchanges in the industry, not least because they offer super low trading fees.

If you looking to open an account at Kucoin for your crypto trading needs, then we would suggest that you read our comprehensive review first. Our experts reviewed the most important things that you need to consider, such as regulation, fees, supported coins, payment methods, and more.

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If you don’t have the time to read our review in full, we summarized by noting that we cannot endorse Kucoin. The main reasons for this are that Kucoin operates in an unregulated manner, and users are unable to deposit or withdraw funds with real-world money. We instead prefer heavily regulated platforms like Coinbase, who on top of holding two regulatory licenses, allows you to deposit funds with debit/credit cards and e-wallets, and they even allow you to short crypto.

What is Kucoin?

Although Kucoin was only launched in 2017, the platform is now one of the most popular cryptocurrency exchanges in the industry. The exchange now lists hundreds of cryptocurrency pairs. This includes popular coins like Bitcoin (learn how to buy bitcoin with a credit card) and Ethereum, as well as more obscure ERC-20 tokens.

The Kucoin exchange has also issued their very own cryptocurrency token. Known as Kucoin Shares, those holding the token are accustomed to a share of the platform’s profits. These revenues are linked to the fees Kucoin makes via its facilitation of trading.

Although Kucoin is great for low trading fees and an extensive range of supported coins, the platform does not have any relationship with fiat currency. This makes it challenging for first time crypto traders to enter the marketplace.

How does Kucoin Work?

Kucoin is a traditional third-party cryptocurrency exchange, insofar that they stand between buyers and sellers. Unlike brokers such as Coinbase, you don’t actually purchase coins from Kucoin. Instead, you are matched with other traders, and thus, Kucoin makes their money via trading fees.

Due to the wide range of coins available at Kucoin, users can either use the platform for their crypto day trading needs, or alternatively, buy coins and withdraw them with private Bitcoin wallets as a long-term investment.

In order to get started at the platform, you will need to make a deposit. As Kucoin does not support real-world payment methods such as a debit/credit card or e-wallet, you’ll need to fund your account with a cryptocurrency.

If this won’t suffice, and you instead need to use an everyday payment method, the likes of Coinbase support both debit/credit cards and e-wallets (such as PayPal and Skrill)

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Rating

4.5

For Beginners

Instant Verification

Mobile App

Wallet Service

Coin Selection

Rates

Trading fees

Spreads

0.1%

0.50%

Spreads

0.2%

Deposit fees

N/A

Withdrawal fees

N/A

0.0005 BTC

N/A

Additional features

Regulated

ASIC, CySEC, FCA

CySEC

N/A

FCA

CBI, MiFID

N/A

Min.Deposit

$50

100 EUR

N/A

$10

$100

N/A

Leverage

N/A

1 - 100x

1 - 10x

1 - 100x

N/A

1 - 30x

1-200x

Latest prices by currency

Bitcoin

$43247

Ethereum

$2336.56

XRP

$0.642637

Tether

$0.999759

Litecoin

$74

Bitcoin Cash

$245.59

Chainlink

$15.29

Cardano

$0.450293

IOTA

$0.288951

Binance Coin

$231.81

Stellar

$0.124851

Bitcoin SV

$51.17

Payment methods

Bank Transfer

Credit Card

Giropay

Neteller

Paypal

Sepa Transfer

Skrill

Sofort

What cryptocurrencies does Kucoin support?

One of the greatest benefits of using a platform like Kucoin is that they have a hugely extensive list of supported cryptocurrencies. This not only covers established cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum (Find out how to buy Ethereum with Paypal) and Stellar, but also hundreds of obscure tokens. However, it is important to note that Kucoin does not offer any trading pairs that include fiat currencies such as USD/GBP/EUR.

Nevertheless, here is the full list of supported coins at Kucoin.

MetaHash
0x
Achain
adbank
aelf
Aergo
Aigang
Aion
Alphacat
Ambrosus
Ankr Network
Aphelion
Aurora
aXpire
BABB
Bitcoin Cash
Bitcoin Diamond
Bitcoin SV
BitTorrent
Block Array
Blockport
BOScoin
Bounty0x
BUMO
Bytom
CanYaCoin
Cappasity
CargoX
carVertical
CashBet Coin
Caspian
Change
Chronobank
Civic
ClearPoll
CoinFi
CoinPoker
Constellation
Cosmo Coin
Covesting
CPChain
Credits
Crypterium
Crypto.com Chain
DACC
DADI
Dash
Datum
DATx
Debitum
Decentraland
Decision Token
Decred
DeepBrain Chain
DeepOnion
Dent
DigiByte
Distributed Credit Chain
doc.com Token
Dock
Dragonchain

DxChain Token
eBitcoin
Eden
Egretia
Elastos
Electrify.Asia
Electroneum
Endor Protocol
Energi
Enjin Coin
EOS
Ethereum
Ethereum Classic
Experty
Fantom
Fetch
Flixxo
Fortuna
GAMB
Gas
Genesis Vision
GoChain
Grin
Hacken
HEROcoin
High Performance Blockchain
HOT Token
HyperCash
Insolar
IOST
IoT Chain
IoTeX
Iungo
JET8
Kambria
KickCoin
KuCoin Shares
Kyber Network
LALA World
LATOKEN
Lisk
Litecoin
LockTrip
Loki
Loom Network
Lympo
Maker
Matrix AI Network
Medicalchain
Merculet
Metadium
Monero
MultiVAC
Nano
Neblio
NEO
NULS
ODEM
Odyssey
OmiseGO
OneLedger

ONOToken
Ontology
Opacity
Open Platform
OriginTrail
PAL Network
PARETO Rewards
Phantasma
Populous
Power Ledger
Pundi X
QLC Chain
Qtum
QuarkChain
RChain
Red Pulse Phoenix
Request
Restart Energy MWAT
Revain
RIF Token
RSK Smart Bitcoin
Selfkey
Shivom
SingularityNET
SIRIN LABS Token
Snovian.Space
Solaris
SOLVE
SONM
SophiaTX
Spendcoin
SportyCo
Status
Stellar
Storiqa
SunContract
sUSD
SwissBorg
Synthetix Network Token
TE-FOOD
Telcoin
TenX
Tether
THEKEY
TomoChain
Travala.com
TRAXIA
TRON
TrueFlip
TurtleCoin
Ulord
Usechain Token
UTRUST
V Systems
VeChain
VisionX
Waltonchain
Wanchain
WAX
XRP
XYO
Zeepin
Zilliqa

Which countries does Kucoin support?

Kucoin supports customers from almost 200 nation-states. However, as you’ll see from the list below, Kucoin does not accept users from the U.S. Below is a list of all countries accepted by Kucoin.

Afghanistan
Albania
Algeria
Andorra
Angola
Antigua and Barbuda
Argentina
Armenia
Australia
Austria
Azerbaijan
Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bhutan
Bolivia
Bosnia and Herzegovina
Botswana
Brazil
Brunei
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Colombia
Comoros
Congo
Costa Rica
Cote d’Ivoire
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Fiji
Finland
France
Gabon
Gambia
Georgia
Germany
Ghana

Gibraltar
Greece
Grenada
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Iran
Iraq
Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jordan
Kazakhstan
Kenya
Kiribati
Kosovo
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Mauritania
Mauritius
Mexico
Micronesia
Moldova
Monaco
Mongolia
Montenegro
Morocco
Mozambique
Myanmar
Namibia
Nauru
Nepal
Netherlands
New Zealand
Nicaragua
Niger
Nigeria

Norway
Oman
Pakistan
Palau
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Poland
Portugal
Qatar
Romania
Russian Federation
Rwanda
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
Somalia
South Africa
South Korea
South Sudan
Spain
Sri Lanka
Sudan
Suriname
Swaziland
Sweden
Switzerland
Taiwan
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
Uruguay
Uzbekistan
Vanuatu
Vatican City
Venezuela
Vietnam
Virgin Islands, British
Yemen
Zambia
Zimbabwe

If you’re either a U.S. resident or a U.S. citizen living overseas, then you’ll need to use a U.S.-friendly platform like Coinbase.

Kucoin Payment Methods and Fees

When it comes to depositing and withdrawing funds at Kucoin, you have one option, and one option only. As the platform does not support fiat currency, you will need to fund your account with cryptocurrency.

Cryptocurrency deposits and withdrawals only
No debit/credit card, bank account or e-wallet payments

Trading fees

Kucoin has a very simple trading fee structure. The platform charges both market makers and market takers 0.1%, which makes it one of the cheapest cryptocurrency exchanges in the online space. If you are in possession of the platform’s native Kucoin Shares tokens, then you can reduce your fees further.

Depending on how much you are holding, the absolute minimum you can get the fees down to is 0.0125% and 0.03%, for markers and takers, respectively.

How to sign up and trade on Kucoin

As Kucoin is not a regulated exchange, nor do they support fiat currency deposits, we would suggest that you re-think your plans to open an account. However, if you do want to proceed, then we’ve listed a step-by-step guide to help you get you started.

1. Open an account at Kucoin

Head over to the Kucoin homepage and click on ‘SIGN UP’. Next, enter your email address and then click on ‘SEND CODE’. You’ll have 60 seconds to obtain the 6 digit PIN number and paste it into the box. Before clicking on confirm, make sure that you read and accept the terms and conditions.

Kucoin exchange signup

Finally, you will need to choose a strong password. Your Kucoin account is now ready to use.

2. Deposit funds

Now that your Kucoin account is open, you need to deposit some funds. Don’t forget, the platform doesn’t support fiat currency deposits, so you’ll need to fund your account with cryptocurrency. At the top right-hand side of the screen, click on ‘ASSETS’, followed by ‘DEPOSIT’.

Kucoin exchange account

Before you can continue, you’ll be told that you need to increase the security on your account. Set up both SMS verification and a separate trading password.

Once you’ve done this, simply select your preferred cryptocurrency, copy your unique Kucoin wallet address, and transfer the funds across from your private wallet. Regardless of the coin you are depositing with, Kucoin normally takes around 10-20 minutes to credit your account.

3. Trade crypto

As soon as your Kucoin account is funded, you can begin trading. First, click on the ‘EXCHANGE’ button at the top of the screen. You’ll then be taken to the main trading area. For beginners, this can look a bit intimidating.

Kucoin trading platform

On the left-hand side, you need to enter the cryptocurrency trading pair that you want to trade. The search box will auto-populate once you start typing. For example, if you want to trade BTC with ETH, start typing ‘BTC’.

Once you’re on the trading screen for your chosen trading pair, you need to fill out the order box. As you’ll see in the screenshot below, you need to enter the amount that you want to buy or sell, and whether you want to place a market order or limit order.

Buy crypto on Kucoin

Finally, to complete your trade, re-check the information in the order box and click on the green ‘BUY’ or ‘SELL’ button to execute your trade.

Is Kucoin regulated?

Kucoin is not a regulated exchange, which is why we cannot endorse them. Although the exchange is yet to experience any hacks, if and when it does happen, you could lose your entire funds. We think that you should only deposit funds with a heavily regulated exchange like Coinbase. The platform is authorized and licensed by both the FCA (UK) and CySEC (Cyprus).

Is Kucoin safe?

As noted above, Kucoin is not regulated, and thus, they are not a safe cryptocurrency exchange. However, the platform does utilize a range of security features in an attempt to keep your money safe, which we’ve listed below.

Two-factor authentication (compulsory)
Separate trading password
Email confirmation on log in
Internal risk control team
Encrypted client data

Does Kucoin have a wallet?

Although Kucoin claims to be the “most advanced and secure cryptocurrency exchange”, the platform only offers users an online wallet. Web wallets are the most unsecured way of storing funds, as if the platform’s servers were compromised, you could have your tokens hacked.

Does Kucoin have an app?

Kucoin offers a mobile app that is available to download free of charge on both iOS and Android devices. The Kucoin app provides all of the same services that you can access online. This includes the ability to trade, deposit and withdraw funds, check your transaction history, and research pricing charts.

Kucoin app

Kucoin customer service

The customer support team at Kucoin work around the clock, on a 24/7 basis. Although live chat is supported, waiting times are always really long. You can also contact support via email, however, phone support is not offered. Alternatively, you can also access the Kucoin help center, which is fairly extensive.

Live Chat
Email

Kucoin pros and cons

Pros:

One of the largest lists of supported cryptocurrencies
Ultra low trading fees
No hacks to date
Good trading volumes and liquidity levels

Cons:

Not regulated
Trading interface not suitable for newbies
No offline wallet offered
Does not support fiat currency deposits, withdrawals or trading pairs
Live chat waiting times always really long

Conclusion

In summary, if you are looking for an exchange that allows you to buy and sell hundreds of cryptocurrencies – both large and small, then Kucoin is certainly a notable contender. Moreover, the trading area offers a full range of charting tools, which makes it ideal for experienced traders.

However, two clear points prevent us from endorsing Kucoin. Firstly, the platform does not accept real-world deposit methods. As such, you can only fund your account with crypto. Secondly, the platform holds no regulatory licenses, which in our opinion, puts your funds at risk.

When we made the comparison with Coinbase, we found that they are heavily regulated and that they accept multiple payment methods such as a debit/credit card, e-wallet, and more. Moreover, platform like Coinbase and eToro are much easier to use.

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