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)