- A diverse selection of over 200 crypto assets available for trading.
- User-friendly interface, making it suitable for beginners.
- Provides up to 100X leverage for Futures trading.
- Convenient option to purchase cryptocurrencies directly using credit or debit cards.
- Offers a custom-designed mobile app for seamless on-the-go trading.
- Unfortunately, it does not cater to U.S. residents.
- Lacks fiat-to-crypto trading pairs.
- Occasionally encounters low liquidity issues with low-cap cryptocurrencies.
KuCoin History
Established in August 2017, KuCoin stands as one of the cryptocurrency market’s oldest and most versatile exchanges. Over the years, this exchange has honed its services and trading platform to cater to diverse crypto traders. In this comprehensive KuCoin review, we delve into the inner workings of the KuCoin trading platform, analyzing its strengths, weaknesses, and the enticing trading incentives and discounts available when you sign up through our KuCoin Link.
Table of Contents
KuCoin Review – Is It Safe To Trade On KuCoin Exchange?
Dubbed “The Peoples’ Exchange,” KuCoin distinguishes itself by offering a wide array of crypto assets and services to its clientele. The platform’s portfolio of services continues to expand year by year, positioning KuCoin as one of the most innovative exchanges globally.
Is KuCoin Safe?
KuCoin has fortified its security measures over the years. The company leverages sophisticated blockchain technologies and features to safeguard user information, funds, and trading activities:
Offline Crypto Vaults: KuCoin stores the majority of client funds in multi-signature offline crypto wallets, mitigating the risk of cyberattacks and enhancing user protection.
2FA Authentications: KuCoin offers 2FA authentication to all clients, providing alerts and email confirmations for login, deposits, and withdrawals.
KYC for High Daily Withdrawal: To bolster security, KuCoin enforces maximum withdrawal limits at different verification stages, ranging from unverified accounts to verified individual and institutional accounts.
Web Security: KuCoin employs cutting-edge web development technologies to shield its website from DDOS attacks.
Why Choose KuCoin?
In this section of the KuCoin review, we explore the platform’s key features and strengths that set it apart in the crypto industry:
Trade 200+ Cryptocurrencies: KuCoin boasts a vast selection of over 200 cryptocurrencies for trading and investment, making it an ideal choice for traders and hodlers interested in small-cap coins.
Buy/Exchange Fiat To Crypto: Users can purchase cryptocurrencies directly with credit or debit cards on the KuCoin website. Additionally, KuCoin hosts a vibrant P2P market for quick crypto-to-fiat conversions, supporting various fiat currencies.
Margin Trading: KuCoin introduced margin trading in November 2019, allowing traders to utilize borrowed capital for leveraged positions. This feature supports both long and short positions.
Futures Trading: KuCoin offers futures trading with leverage of up to 100x, featuring competitive fees and supporting trading in crypto-to-crypto pairs.
Crypto to Crypto Instant Exchange: KuCoin provides an Instant Exchange Tool, enabling users to convert one crypto balance into another with ease, making it accessible for beginners.
Crypto Lending: Users can earn interest by lending their crypto assets to margin traders on the platform, with an average daily interest rate of 0.124%.
Free KuCoin Trading Bot: KuCoin offers a free trading bot that executes trades based on user instructions. Users can also replicate configurations of successful bots created by other traders on the platform.
KuCoin Review On Liquidity
With over 5 million users spanning 200 countries and regions, KuCoin ranks among the top 40 largest brokers/exchanges globally. Its substantial user base ensures adequate liquidity, although some users have occasionally reported lower liquidity for smaller-cap cryptocurrencies and newly listed assets.
KuCoin 25% Bonus
KuCoin has its own coin/share, KuCoin Share, which can be purchased, swapped, and earned on the platform. Holding these shares grants users a daily bonus/dividend, amounting to 50% of all trading fees generated by platform users.
KuCoin Trading Fees and Discounts
KuCoin offers various discounts on trading fees, contingent on monthly trade volume. Discounts increase as trading volume rises. To qualify for these discounts and the 25% bonus, users should sign up using our KuCoin Link.
Traders In The United States
It’s crucial to note that KuCoin does not cater to U.S. traders due to stringent regulations governing crypto trading in the country. Interested users can explore alternative options on our list of the best crypto exchanges in the USA.
How To Open An Account
The KuCoin account creation process is straightforward, requiring no document submissions or verifications before opening an account. Here are the steps:
- Provide either an email address or a valid mobile number for code verifications.
- Use our KuCoin Link to sign up, automatically inputting our Referral code for access to platform bonuses and discounts.
- Enter your email/phone number, verification code, and a strong password.
- Click the “Sign Up” button to complete the process.
KuCoin First Login
Upon sign-up completion, KuCoin logs users in automatically, redirecting them to the homepage. From here, users can fund their accounts and commence trading without delay.
Deposit Method
KuCoin collaborates with Simplex to enable users to purchase Bitcoin, Ethereum, Litecoin, and Ripple directly on the platform using debit or credit cards. Note that this method is unavailable for countries under sanctions.
Deposit and Withdrawal Fees
KuCoin does not impose deposit fees. However, purchases made through Simplex incur a 3.5% fee. For withdrawals, KuCoin charges approximately 0.0005 BTC per BTC withdrawal, which is below the global industry average.
Setting Up Your Trading Account
KuCoin provides various markets for trading cryptocurrencies, including the Futures Pro trading platform. In this section, we’ll focus on KuCoin Futures Pro.
Demo Trading On KuCoin
KuCoin does not support demo trading at the time of this review. Traders need to create an account and fund it to access the platform.
KuCoin Review On The Futures Pro Trading Interface
The Futures Pro trading interface allows users to trade cryptocurrencies with leverage of up to 100x. It provides tools for placing trades, monitoring positions, managing margin, and analyzing price movements.
Funding Your Futures Trading Account
Funding a Futures trading account on KuCoin is easy. Users can transfer crypto funds from their KuCoin wallets to their Futures wallets or make direct purchases using a debit/credit card. Note that Futures trading accounts can only be funded in USDT.
Leverage Trading On KuCoin
Leverage trading amplifies purchasing power while trading with limited funds. KuCoin offers leverage of up to 100x, allowing users to open larger positions. However, high leverage entails higher risks, necessitating a thorough understanding of leverage trading.
How To Adjust Your Leverage
Users can manually adjust leverage for each contract on the KuCoin Futures platform. Leverage can be adjusted via a slider or by entering the desired value in the order entry field.
Placing Your First Trade On KuCoin
KuCoin provides an intuitive, fast, secure, and cost-effective platform for traders of all types. Users can diversify portfolios, trade high volumes, scalp, hedge, and engage in algorithmic trading simultaneously. Here’s how to place your first trade:
- Select your preferred cryptocurrency.
- Conduct technical analysis using the user-friendly charting tools.
- Choose your leverage, order type, and position size.
- Place the trade and monitor your open position.
Picking Your Currency Of Choice
KuCoin supports over 200 cryptocurrencies on its Futures Pro trading platform. Users can easily select their preferred currency for trading.
Technical Analysis
Before trading, perform in-depth technical analysis of the chosen currency. KuCoin offers an intuitive charting software with customization options, built-in indicators, and charting analysis tools.
KuCoin Review On Order Types
KuCoin offers various order types:
- Market Orders: Executed quickly, with the platform’s trading engine capable of handling high-speed transactions.
- Limit Orders: Allows users to set entry and exit levels in anticipation of market moves.
- Conditional Orders: Triggers trades based on predefined conditions.
KuCoin Order Book
The order book displays current Buy (ask) and Sell (bid) Limit orders, providing insight into market sentiment and order flow.
KuCoin Review On Position Management
Manage open positions through the order management pane at the bottom of the KuCoin trading interface. Close positions using market or limit orders, or set stop loss and take profit orders.
KuCoin Advanced Order Types
KuCoin offers advanced order types, including Good-Till-Cancelled (GTC), Immediate-or-Cancel (IOC), and Fill or Kill (FOK), providing flexibility in trading strategies.
KuCoin Review On Mobile App
KuCoin’s mobile app allows users to trade on the go, offering essential features such as account management, trading, technical analysis tools, and an intuitive interface.
KuCoin Review On Customer Support – 24/7
KuCoin’s customer support team operates 24/7, swiftly resolving user issues. The platform also features a FAQ section and live chat for immediate assistance.
KuCoin Review Conclusion
KuCoin emerges as one of the industry’s best crypto trading platforms, characterized by innovation, a diverse range of trading products, low fees, and robust security measures. With a commitment to user safety and a growing portfolio of services, KuCoin stands as an excellent choice for crypto enthusiasts and traders alike. If you’re seeking a reliable crypto trading platform, KuCoin should be at the top of your list.
Exchange Native Token
KCS is the native token of KuCoin, which was launched back in 2017 as a profit-sharing token that allows traders to draw value from the exchange.
There were no widely reported security breaches or hacks involving Kucoin.
Exchange Photos
Features
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WebSite | Link to the WebSite |
Frequently Asked Questions(FAQ)
A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
