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Kucoin Exchange Review 2020: Fees, Pros, Cons and Features

Founded in 2017, Kucoin offers low trading fees and supports the trading of over 200 cryptocurrencies.
Kane Pepi
Author: Kane Pepi
Last Updated: 08 April 2020

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. We’ve independently 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 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 to a private wallet 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)

    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 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.

    1. Afghanistan
    2. Albania
    3. Algeria
    4. Andorra
    5. Angola
    6. Antigua and Barbuda
    7. Argentina
    8. Armenia
    9. Australia
    10. Austria
    11. Azerbaijan
    12. Bahamas
    13. Bahrain
    14. Bangladesh
    15. Barbados
    16. Belarus
    17. Belgium
    18. Belize
    19. Benin
    20. Bhutan
    21. Bolivia
    22. Bosnia and Herzegovina
    23. Botswana
    24. Brazil
    25. Brunei
    26. Bulgaria
    27. Burkina Faso
    28. Burundi
    29. Cambodia
    30. Cameroon
    31. Canada
    32. Cape Verde
    33. Cayman Islands
    34. Central African Republic
    35. Chad
    36. Chile
    37. China
    38. Colombia
    39. Comoros
    40. Congo
    41. Costa Rica
    42. Cote d’Ivoire
    43. Croatia
    44. Cuba
    45. Cyprus
    46. Czech Republic
    47. Denmark
    48. Djibouti
    49. Dominica
    50. Dominican Republic
    51. Ecuador
    52. Egypt
    53. El Salvador
    54. Equatorial Guinea
    55. Eritrea
    56. Estonia
    57. Ethiopia
    58. Fiji
    59. Finland
    60. France
    61. Gabon
    62. Gambia
    63. Georgia
    64. Germany
    65. Ghana
    1. Gibraltar
    2. Greece
    3. Grenada
    4. Guatemala
    5. Guinea
    6. Guinea-Bissau
    7. Guyana
    8. Haiti
    9. Honduras
    10. Hong Kong
    11. Hungary
    12. Iceland
    13. India
    14. Indonesia
    15. Iran
    16. Iraq
    17. Ireland
    18. Isle of Man
    19. Israel
    20. Italy
    21. Jamaica
    22. Japan
    23. Jordan
    24. Kazakhstan
    25. Kenya
    26. Kiribati
    27. Kosovo
    28. Kuwait
    29. Kyrgyzstan
    30. Laos
    31. Latvia
    32. Lebanon
    33. Lesotho
    34. Liberia
    35. Libya
    36. Liechtenstein
    37. Lithuania
    38. Luxembourg
    39. Macedonia
    40. Madagascar
    41. Malawi
    42. Malaysia
    43. Maldives
    44. Mali
    45. Malta
    46. Marshall Islands
    47. Mauritania
    48. Mauritius
    49. Mexico
    50. Micronesia
    51. Moldova
    52. Monaco
    53. Mongolia
    54. Montenegro
    55. Morocco
    56. Mozambique
    57. Myanmar
    58. Namibia
    59. Nauru
    60. Nepal
    61. Netherlands
    62. New Zealand
    63. Nicaragua
    64. Niger
    65. Nigeria
    1. Norway
    2. Oman
    3. Pakistan
    4. Palau
    5. Panama
    6. Papua New Guinea
    7. Paraguay
    8. Peru
    9. Philippines
    10. Poland
    11. Portugal
    12. Qatar
    13. Romania
    14. Russian Federation
    15. Rwanda
    16. Saint Kitts and Nevis
    17. Saint Lucia
    18. Saint Vincent and the Grenadines
    19. Samoa
    20. San Marino
    21. Sao Tome and Principe
    22. Saudi Arabia
    23. Senegal
    24. Serbia
    25. Seychelles
    26. Sierra Leone
    27. Singapore
    28. Slovakia
    29. Slovenia
    30. Solomon Islands
    31. Somalia
    32. South Africa
    33. South Korea
    34. South Sudan
    35. Spain
    36. Sri Lanka
    37. Sudan
    38. Suriname
    39. Swaziland
    40. Sweden
    41. Switzerland
    42. Taiwan
    43. Tajikistan
    44. Tanzania
    45. Thailand
    46. Timor-Leste
    47. Togo
    48. Tonga
    49. Trinidad and Tobago
    50. Tunisia
    51. Turkey
    52. Turkmenistan
    53. Tuvalu
    54. Uganda
    55. Ukraine
    56. United Arab Emirates
    57. United Kingdom
    58. Uruguay
    59. Uzbekistan
    60. Vanuatu
    61. Vatican City
    62. Venezuela
    63. Vietnam
    64. Virgin Islands, British
    65. Yemen
    66. Zambia
    67. 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.

    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’.

    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.

    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.

     

     

    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 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, the platform is much easier to use, and they even allow you to go-short on cryptocurrencies.

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    How many coins do Kucoin list?

    Kucoin lists just under 200 individual cryptocurrencies on its platform.

    Can you 'short' Bitcoin on Kucoin?

    You can't short coins on Kucoin. You'll need to use a more comprehensive platform like Coinbase for this.

    How much are Kucoin trading fees?

    Kucoin offers a standard trading fee of 0.1% per trade. If you hold Kucoin Shares, you can reduce these fees further.

    Do I need to verify my identity to use Kucoin?

    You only need to verify your identity if you are trading significant volumes.

    Can I buy crypto with a debit/credit card at Kucoin?

    Kucoin does not accept debit/credit cards, nor any other fiat currency method for that matter.

    A-Z of Bitcoin Exchanges

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    Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
    Kane Pepi

    Kane holds academic qualifications in the finance and financial investigation fields. With a passion for all-things finance, he currently writes for a number of publications in the online space.

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