Kucoin Exchange Review 2019: Fees, Pros, Cons and Features

Kucoin Exchange Review 2019: Fees, Pros, Cons and Features
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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.

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 eToro, 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.

Is Kucoin Recommended?

We do not recommend Kucoin because users are not protected by any regulatory bodies, meaning that the exchange is largely unsafe. It is also the case that Kucoin does not support real-world payment methods, making it difficult for newbies to deposit funds for the first time. Instead, we prefer user-friendly platforms like eToro. Not only are they regulated, but they support multiple payment methods, the platform is perfect for beginners, and you also have the option of going short and/or applying leverage.

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Read our comprehensive reviews to compare different cryptocurrency exchanges, or visit our guide on how to buy Bitcoin and other cryptocurrencies.

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 eToro 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.

  • 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
[/infobox]

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 eToro.

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 eToro. 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

Kucoin vs eToro

To help you make an informed decision as to whether Kucoin is the right platform for you, we’ve created a comparison with eToro.

 

eToro now allows you to buy and sell more than 15 cryptocurrencies. If you go-long and don’t apply leverage, then you actually own the underlying crypto asset. On top of allowing you to short cryptocurrencies too, eToro also offers a range of CFD broker products, subsequently allowing to you buy stocks, trade forex, and make short-term investments in commodities and indices.

Why we recommend eToro wallet over Kucoin:

eToro allows you to deposit funds with a debit/credit card, e-wallet (such as PayPal and Skrill), bank account and other common payment methods. Kucoin only accepts cryptocurrencies.

✅eToro offers a really simple, clean trading interface, which makes it perfect for beginners. On the other hand, Kucoin is best suited for more advanced traders.

✅ eToro is regulated by both the FCA (UK) and CySEC (Cyprus), while Kucoin operates unregulated.

✅eToro accepts users from the U.S. Kucoin doesn’t allow traders from the U.S.

✅eToro allows you to both long and short cryptocurrencies, while Kucoin only allows you to go-long.

Open your eToro Account

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 eToro, 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.

  • Exchange
  • Rating
  • Properties
  • to buy
1
 
The Best Choice
  • 12+ Cryptos
  • €200 Min Deposit
  • Accepts PayPal

eToro is a multi-asset platform that offers CFD and non-CFD products. 76% of retail investor accounts lose money when trading CFDs with this provider. Your investment is at risk and you could lose your money investment.

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 eToro for this.

How do I contact Kucoin via live chat?

Head over to the support section of your Kucoin account and click on ‘LIVE CHAT’. However, be warned, waiting times are really long.

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.

Is Kucoin easy to use?

The Kucoin trading area is best suited for intermediate or advanced traders.

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.

Does Kucoin offer telephone support?

Kucoin only offers support in the form of live chat and email.

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