{"id":224703,"date":"2023-12-30T01:42:58","date_gmt":"2023-12-30T01:42:58","guid":{"rendered":"http:\/\/insidebitcoins.com\/?page_id=224703"},"modified":"2024-11-20T16:10:12","modified_gmt":"2024-11-20T16:10:12","slug":"kucoin-review","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/best-crypto-exchanges\/kucoin-review","title":{"rendered":"KuCoin Review 2024 – Pros, Cons, Payment Methods, Fees & More"},"content":{"rendered":"
KuCoin<\/a> has established itself as one of the most reliable and trustworthy cryptocurrency exchanges in the world. Since its establishment in 2017, the exchange has embraced a transparent and growth-driven business philosophy that focuses on providing crypto enthusiasts with some of the best trading tools. <\/span><\/p>\n In recognition of its excellent crypto trading services, KuCoin was named in the Forbes 2023 list of the best crypto exchanges in the world. That’s not all! It is also recognized as one of the most innovative crypto exchanges in the Finder’s 2023 Global Cryptocurrency Trading Platform Awards. <\/span><\/p>\n When it comes to providing advanced trading tools, only a few trading platforms come close to KuCoin. If you choose the platform, you will be able to explore a wide variety of trading tools like P2P fiat trading, margin trading, futures trading, staking, lending, and automated trading amongst others. In this detailed review, we fully examine all you need to know about this highly commendable crypto exchange. <\/span><\/p>\n Visit KuCoin<\/strong><\/span><\/a>\n<\/p> As we journey through this review, below is a highlight of some of the notable features of KuCoin:<\/span><\/p>\n Launched in 2017, KuCoin has become an attractive destination for advanced crypto traders and beginners, thanks to its distinctive features. Although its operational headquarters is situated in Seychelles, KuCoin is active in more than 200 countries of the world, positioning it as a global exchange. <\/span><\/p>\n This laudable achievement was no fluke as KuCoin has been delivering the best trading services since joining the evolving crypto landscape. Since traders seek a crypto exchange with exceptional trading features, it is no surprise that KuCoin has become their favorite destination. The presence of a wide range of virtual assets alongside other innovative features has showered the exchange with a vast amount of visits. <\/span><\/p>\n <\/p>\n According to Coinmarketcap, KuCoin enjoys an average weekly visits of more than 2.4 million users. Due to this sizable usage of KuCoin, the popular cryptocurrency exchange has an average 24-hour trading volume of more than $1 billion. <\/span><\/p>\n As of December 2023, the cryptocurrency exchange has more than 30 million active users across 200 countries and regions. These users enjoy unrestricted and almost instant access to more than 700 virtual assets on the platform. <\/span><\/p>\n There are many virtual assets to trade on KuCoin because the outlet has a flexible listing policy that focuses on providing access to some of the most promising cryptocurrencies in the market right now<\/a>. On KuCoin, you can explore spot trading, margin trading, P2P fiat trading, futures trading, staking, lending, and NFT ETFs.<\/span><\/p>\n In addition to this wide range of virtual assets products and services, the leading exchange has a host of game-changing features that have propelled users to stay glued to its site. One of the distinctive features of KuCoin is its cheap trading and withdrawal fee. The exchange uses a tiered charging system that bills users based on their level of loyalty and patronage to the platform. <\/span><\/p>\n While the billing system may charge users differently, in this review of KuCoin, we noticed that the crypto exchange bills users cheaply compared to its counterparts. Likewise, depositing funds on the crypto trading outlet is entirely free for all users. <\/span><\/p>\n As a trailblazer, KuCoin has an automated trading bot. This trading bot helps traders to make more money with less effort and market experience. By virtue of this, the exchange has emerged as a preferred trading outlet for many crypto newbies. <\/span><\/p>\n KuCoin is highly regarded as a reliable cryptocurrency exchange as a result of its transparent practices. To assure users that their funds are safe, the exchange publicly disclosed its PoR. You can leverage this opportunity to verify how the exchange manages funds entrusted in its custody. Allowing users to verify funds kept in its coffers has convinced both investors and regulators that the exchange is reliable and properly managed. <\/span><\/p>\n While being one of the longest-serving crypto exchanges<\/a>, KuCoin has effectively managed to steer itself off controversial scenarios. First, the proper and transparent management of users’ funds protected KuCoin against insolvency issues. Additionally, the platform, its users, and funds are protected by one of the best security technologies around. By investing heavily in its security, KuCoin has become almost immune to cyber-attacks and hacks. <\/span><\/p>\n <\/p>\n Getting started with KuCoin is quite simple and fast. You can create your account on the widely-known crypto exchange with just an active phone number or email and your preferred password. However, due to the platform’s compliance with local and international regulations, you may need to go through a KYC process to enjoy advanced features on KuCoin. <\/span><\/p>\n You will find every feature of KuCoin on its website and mobile application. The mobile application of KuCoin is compatible with iOS and Android devices. Another eye-catching attribute of KuCoin is its friendly interface. This crypto exchange is designed with a screen-friendly green-themed layout. <\/span><\/p>\n You can also switch between the light and dark themes to suit your preferences. Icons on the platform are supported with direct-descriptive details to ensure that users have unrestricted access to every segment on the site. <\/span><\/p>\n While compiling this review, we are impressed by the continuous effort of KuCoin to introduce game-changing trading features to its platform. The crypto exchange maintains cordial relationships with other reputable firms in the web3 space. Over the years, the prominent crypto exchange has collaborated with scores of brands to improve its services, ensuring that they are in line with emerging trends. <\/span><\/p>\n The availability of top game-changing features on KuCoin cannot be overemphasized. In this segment of our review, we fully scrutinize all the notable features of KuCoin. <\/span><\/p>\n One of the standout features of KuCoin is its support for a wide range of cryptocurrencies. If you are looking to keep your portfolio updated with some of the cryptocurrencies with the most potential<\/a>, we recommend that you use KuCoin. It supports more than 700 assets, meaning traders can rest assured that they will definitely find their favorite crypto on the site. <\/span><\/p>\n KuCoin provides you with the best pathway to keep up and invest in new and emerging cryptocurrencies. The platform has a designated place that serves as the gateway to new virtual assets.<\/span><\/p>\n <\/p>\n Leveraging the opportunity will help you know and invest in new tokens before they hit the higher part of the crypto market. Further, to ensure you make the best out of new cryptocurrencies, KuCoin has a “Spotlight” segment that functions similarly to a DeFi launchpad. <\/span><\/p>\n In the Spotlight section, you can scout new tokens and allocate a portion of KuCoin’s native token; KCS. The pathway to commit your KCS to the project on the Spotlight will be open for a while. At the end of the Spotlight, you will receive a portion of the token proportional to the amount of KCS you have allocated. However, new tokens don’t just appear in the Spotlight. KuCoin has a dedicated team that reviews projects before listing them in this segment. <\/span><\/p>\n Despite the focus on ensuring that you get your hands on emerging projects, KuCoin is committed to protect you against bad and weightless tokens. Consequently, tokens listed in the Spotlight segment are reputable and void of any illicit activities. <\/span><\/p>\n In return, these tokens pose a good Return on Investment (ROI) that can hit more than 70% of the value of the KCS you allocated. On the flip side, there are certain requirements you may need to fulfill before exploring the Spotlight section. <\/span><\/p>\n KuCoin, like other renowned crypto trading platforms, employs a segmented billing system. While compiling this review, we learned that charges on KuCoin are cheap and depend on users’ patronage.<\/p>\n You may be surprised that the cheap fee changes from time to time. One of the most famous parts of KuCoin’s billing system is based on your trading volume within a 30-day rolling period.<\/p>\n Basically, the more you trade on KuCoin, the fewer charges you pay! Nevertheless, you can’t pay more than 0.1% as Maker and Taker fee on the trading platform. Another interesting part of this generous system is that you can get an additional 20% discount if you pay the charges with KCS. More so, the generosity of KuCoin also extends to its deposit and withdrawal fees.<\/span><\/p>\n Crypto deposits on KuCoin are entirely free. On the other side, crypto withdrawal varies and depends on the coin and its blockchain network. Nonetheless, it is cheaper compared to what other popular exchanges charge. You can make a withdrawal and deposit through more than 50 globally recognized fiats. <\/span><\/p>\n <\/p>\n For withdrawals, KuCoin employs the services of trusted third-party payment processors. Consequently, the crypto trading platform isn’t responsible for the billing. Rather, the provider of the payment gateway charges users accordingly. You can carry out fiat transitions through the following gateways; debit and credit card, bank transfer, Apple Pay, and BTC Direct. In total, you can make payments on KuCoin through 50 methods. <\/span><\/p>\n Since the unfortunate cyber attack on its network in 2020, KuCoin has implemented various security measures. The most popular of these security measures is keeping users’ funds in cold storage. This has helped to keep the funds out of the sight of hackers. <\/span><\/p>\n More so, the exchange collaborated with Onchain Custodian to protect and insure users’ funds. Therefore, users can rest assured that they are covered even if the platform endures a hack or theft as users’ funds are insured. But, there’s simply nothing to worry about as KuCoin is fully secure and backed to repel all sorts of cyber attacks. <\/span><\/p>\n <\/p>\n Nonetheless, KuCoin understands that hackers may resort to victimizing unsuspecting users by luring them with some digital snares in a bid to drain their funds. To prevent this, it has provided some industry-standard measures to protect your account and assets. Every account on KuCoin is protected by a two-factor authentication that restricts unwarranted access to users’ accounts.<\/span><\/p>\n Also, each account is safeguarded by functional measures like login safety phrases, security questions, phone verification, email notifications, trading passwords, and restricted login IP addresses. However, phishing scams are also very common in today’s crypto landscape. To ensure that you don’t fall victim, KuCoin has added an anti-phishing safety phrase to support users’ accounts.<\/span><\/p>\n Furthermore, there is also an anti-fraud site in place to kick against mischievous acts on the platform. During the year, KuCoin unveiled its anti-fraud site to protect users. The initiative comes with an advanced anti-phishing verification and business wallet address confirmation. <\/span><\/p>\n Hence, the trading platform has eventually emerged victorious in protecting its users against impersonation, which effectively safeguards them from phishing scams. <\/span><\/p>\n Crypto trading bots have become the new trend in the industry. They assist traders in making more profits without supervising the market. While trading bots are considered useful for newbies, nonetheless, you may need some technical trading skills to maximize them to full effect. <\/span><\/p>\n KuCoin launched its native trading bots in 2021. Since its launch, the bots have undergone various modifications to improve their service delivery. One of the most recent upgrades to the bot is the introduction of the Smart Rebalance. The feature aids the bot in adjusting your portfolio so that you can make the best use of the market. <\/span><\/p>\n <\/p>\n Aside from the Smart Rebalance, there are some other automated trading bots on the cryptocurrency exchange. In this review, we learned that each trading bots have their distinguished functions and they are channeled towards assisting users in making mouth-mastering profits while trading on KuCoin. One of these bots is the Classic Grid which supports users in carrying out arbitrage trading on the site. <\/span><\/p>\n The Dollar-Cost Averaging (DCA) is another type of KuCoin trading bot. With the DCA, users can acquire a certain cryptocurrency at a predetermined price. Future Grid is also a notable trading bot on KuCoin. This bot allows traders to earn passively by buying low and selling high. <\/span><\/p>\n Finally, these bots have proven effective in all market conditions, providing lucrative returns for traders who deploy them perfectly. They can carry out arbitrage trading by leveraging market imbalances to help you maximize your profit. <\/span><\/p>\n As an innovative crypto exchange, KuCoin has designed several rewarding programs for traders to earn passively. One of the best ways to earn on KuCoin is through its lending service. KuCoin Lend is a peer-to-peer service that allows you to put your idle digital assets to work and earn passive returns. <\/span><\/p>\n Through this initiative, the platform allows users to lend out their cryptocurrencies to margin traders. It might interest you to know that KuCoin Lend guarantees a return ratio of 2.9% to 5.47% at the end of a lending period. <\/span><\/p>\n You can lend margin traders about 50 various cryptocurrencies. Additionally, the program has an automated version that automatically gives your crypto to a margin trader at the end of a certain lending term. <\/span><\/p>\n <\/p>\n The cryptocurrency exchange usually stands as a referee during the lending term, ensuring that each side fulfills its part of the agreement. Most lending terms range between a week, two weeks, or a month. <\/span><\/p>\n Likewise, the KuCoin Earn is another avenue for you to bag passive returns. Under this product, you can earn steady and passive income with professional asset management. Simply, it allows users to stake and explore other promotional packages relating to crypto staking. In this segment, there are more than 60 cryptocurrencies that offer you a tantalizing APY of up to 110%. <\/span><\/p>\n In the KuCoin Earn package, your perseverance determines the lucrativeness of your return. The KuCoin earn program works on the ideology of the longer you stake, the more you earn. Staking period varies and it mostly depends on your preference. Some staking periods can take up to a year. <\/span><\/p>\n Check out our list of the top crypto staking platforms around<\/a>. <\/span><\/p>\n Also, in this review, we discover that KuCoun offers futures, leveraged tokens, and derivatives. You can earn mouth-watering bonuses through the futures segment through packages like coupons and trial funds. You can also earn up to 5 USDT freebies through its daily limit-free package.<\/p>\n <\/p>\n You can explore blue-chip NFTs on KuCoin. This service allows you to buy some top collections like HIBAKC without stress. NFTs enthusiasts can also leverage this initiative to design their collection on the crypto exchange.<\/p>\n Check out our guide to discover some of the best NFT projects in the market<\/a>.<\/p>\n The cryptocurrency exchange has a native utility token; KCS. This token plays a pivotal role in the smooth running of the KuCoin ecosystem. Holders of the tokens enjoy certain privileges that make the token a must-have. KCS is majorly used for rewards and perks on KuCoin. Holders of the tokens are showered with daily rewards which emanate from 50% of the exchange’s revenue on trading fees. <\/span><\/p>\n Likewise, holders of KCS enjoy a trading fee discount that see them pay less compared to others using the platform. Holding KCS also provides unlimited access to projects within the KuCoin Spotlight and certain perks and bonuses. <\/span><\/p>\n KuCoin is a centralized cryptocurrency exchange. Primarily, the platform operates as a custodian that helps users to safely keep their cryptocurrencies. Over the years, it has grown beyond being a mere CEX<\/a>. <\/span><\/p>\n KuCoin has incorporated various features that support valuable services like cryptocurrency trading, lending, staking, and more. In this segment of our review of KuCoin, we will provide details on how the cryptocurrency exchange works.<\/span><\/p>\n <\/span><\/p>\n To get started on KuCoin, you must first open an account on the platform. Thereafter, you’ll need to fund your wallet to explore the cryptocurrency exchange. You can make crypto and fiat deposits on the exchange depending on your preference. Crypto deposits are faster and cheaper. You can simply transfer crypto from an existing wallet to your account on KuCoin to get started. <\/span><\/p>\n On the flip side, you can decide to use one of the 70 payment options available on the exchange for your fiat deposit. Check the home screen of the exchange, you’ll find the deposit option that provides you the pathway to “deposit crypto,” “deposit fiat” or “buy cryptocurrency<\/a>.” <\/span><\/p>\n Fill in the needed details by selecting one of the above-mentioned options and follow the prompts to complete the deposit process.<\/span><\/p>\n However, it is imperative that you complete the KYC process to explore advanced features on the exchange. The KYC process isn’t a tedious one and you can complete it in no time. All you need to do is select your issuing country and provide any of the required documents. Upon verification, you can proceed to fund your account and trade in any of the vast markets that are available on KuCoin.<\/span><\/p>\n <\/p>\n The home screen has five icons underneath. These icons are Home, Markets, Trade, Future, and Assets. In addition, the icons summarize almost every feature of KuCoin. Above the labels, you can explore the larger part of the platform through options like Reward Hub, Trading Bot, Referral, Cash Gift, P2P, Earn, Market Events, Pre-Market, and Wealth. Spot trade is very easy to find on KuCoin. Just locate and click the “markets” icon, and you’ll find a host of tokens and fiat pairs. <\/span><\/p>\n To support your trading decision, KuCoin has charts provided by TradingView to aid traders in following market trends and monitoring the performance of their portfolios. There is also an order-placing segment for buying and selling cryptocurrency. <\/span><\/p>\n You can find options like Limit, Market, Stop Limit, and Stop Market orders. Aside from these features, it has an in-built web3 wallet that allows users to store their NFTs on the platform.<\/span><\/p>\n KuCoin has established itself among the top guns in the crypto landscape. The continuous effort of the exchange to improve on its services has made it one of the most sought-after trading platforms in the world. In this review, we explain why KuCoin comes highly recommended to all categories of traders. <\/span><\/p>\n As earlier discussed in this review, KuCoin charges low trading fees. This factor is indeed a big one to consider when selecting a trading platform. Cheap trading fees are healthy support mechanisms that help maximize your profit. Exorbitant trading fees can take a substantial portion of your trading returns. <\/span><\/p>\n <\/p>\n KuCoin trading fees are affordable and cheap when compared to others. It charges users based on their loyalty and activeness. Thus, accounts with high trading volume tend to pay lesser trading fees. In the end, paying with the platform’s native token comes with a 20% discount.<\/span><\/p>\n KuCoin is one of the few cryptocurrency exchanges that guarantee the safety of users and their assets. Since it is one of the most reliable trading platforms around, it comes highly recommended to those looking to trade safely. <\/span><\/p>\n <\/p>\nKey Features Of KuCoin<\/strong><\/h2>\n
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Overview Of KuCoin <\/strong><\/h2>\n
Top Features Of KuCoin<\/strong><\/h2>\n
Enormous Listing of Cryptocurrencies<\/strong><\/h3>\n
Low Fees <\/strong><\/h3>\n
Optimal Security<\/strong><\/h3>\n
Trading Bots <\/strong><\/h3>\n
KuCoin Lend and Earn <\/strong><\/h3>\n
KuCoin Derivatives<\/strong><\/h3>\n
KuCoin NFT<\/strong><\/h3>\n
KuCoin Token (KCS)<\/strong><\/h3>\n
How Does KuCoin Work?<\/strong><\/h2>\n
Why Should I Use KuCoin?<\/strong><\/h2>\n
Trading Fees<\/strong><\/h3>\n
Security<\/strong><\/h3>\n