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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.
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Author: Kane Pepi
Last Updated: 26 February 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.

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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.
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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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