KuCoin Exchange Review
KuCoin is a centralized exchange that occupies #eleven on Guru InvestingExchange Tracker. KuCoin has trading volume US$864,336 in the last 24 hours and US$71,956,209,022 in the last 7 days.
KuCoin currently has 833 cryptocurrencies, 2 paper currencies and 1380 markets (cryptocurrency trading pairs). The most popular trading pair on KuCoin is WAX/USDT.
You can read the full expert review of KuCoin here: KuCoin Review.
Compare KuCoin next to other exchanges here: Exchange comparison tool.
KuCoin is a centralized cryptocurrency exchange (CEX). Launched in 2017. The key services are KuCoin. spot and margin trading, derivatives market and peer-to-peer (P2P) fiat transfers. It also offers additional services such as KuCoin Wallet, Windvane NFT Marketplaceand rates and lending mechanisms.
The KuCoin cryptocurrency exchange is not licensed in the United States. This means that US traders cannot use any of the services provided by KuCoin.
Markets
As of 2022, more than 700 different assets are listed on the exchange. This increases the number of KuCoin trading pairs available to over 1200. The KuCoin blockchain has its own token known as KuCoin shares (KCS). Customers using KCS tokens on the KuCoin crypto exchange are eligible for discounts and lower trading fees.
KuCoin spot trading platform uses automatic matching mechanism to execute market orders. According to the company, KuCoin can support up to 1 million transactions per second. KuCoin offers free deposits for all digital assets. Withdrawal fee rates vary by asset and require a minimum withdrawal amount.
There are 13 fee levels for the KuCoin cryptocurrency: from 0 to 12 lats, as well as three classes based on the base currency – A, B and C. Fees may vary for makers and takers. The price of the KuCoin cryptocurrency can be reduced if the trader pays with KCS tokens.
At level 0, if KuCoin’s 30-day spot trading volume is less than 50 BTC and the user has up to 1000 KCS, both maker and taker fees are 0.1%, discounted to 0.08% if payments are made using KCS .
At level 12, traders must have a minimum of 150,000 KCS and spot trading volume must be at least 20,000 BTC. At this level, KuCoin exchange fees are 0.005% for makers and 0.025% for takers, with a discount of up to 0.005% and 0.02% respectively when paying with KCS.
Since April 2021, the KuCoin cryptocurrency exchange has been offering leveraged tokens. They act as KuCoin spot tokens that provide up to 10x leverage when trading on margin. Subscription, trading, redemption and management fees apply.
There are three types of futures markets on KuCoin:
- Futures classic – standard cryptocurrency futures trading;
- Futures Light – simplified futures trading;
- Futures fight – Gamified trading, which can be done individually or in groups.
There are over 130 KuCoin trading pairs available on the futures market. All tokens on the futures market are considered Class A. The KuCoin price of Class A tokens determines the commission rate.
At level 0, when the 30-day trading volume is less than 200 BTC, KuCoin exchange fees for the future market are 0.02% for market makers and 0.06% for takers. Users are not required to store KCS tokens. Having at least 1000 KCS and exceeding KuCoin’s 30-day volume of 200 BTC moves them to level 1 with a maker/taker fee of 0.015%/0.06%.
At level 12, the required 30-day KuCoin trading volume is at least 160,000 BTC, and users must have a minimum of 150,000 KCS. The corresponding maker/taker fees are 0.015% and 0.03%. Discounts on KuCoin cryptocurrency from KCS do not apply to the futures market.
other services
KuCoin Trading bot is a free trading tool for the futures market. It can automatically rebalance investment portfolios, analyze real-time data, and adapt to market conditions.
Clients can use one-click shopping Buy cryptocurrency using Visa, PayPal, SEPA or other supported payment methods. In addition to digital assets, the KuCoin cryptocurrency exchange also supports over 50 fiat currencies. Clients can purchase fiat money without intermediaries.
KuCoin Earnings it is a betting platform. This allows clients to stake their assets using one of the available cryptocurrencies and earn passive income. Additionally, users can join a referral program.
KuCoin wallet is a solution for storing digital tokens. KuCoin clients can use it to store their cryptocurrencies. The KuCoin wallet can be directly connected to Windvane, an NFT marketplace powered by KuCoin.
Developers can access KuCoin APIallowing them to work with trading strategies based on real data. KuCoin Laboratories is an investment and research incubation program that supports early-stage blockchain projects.
About company
Kucoin was created in Singapore by a team of seven co-founders. Michael Gan and Eric Don at the helm. He is currently based in the Seychelles. Although the KuCoin cryptocurrency exchange officially launched in 2017, its development began in 2013 when Gan and Dong began working on the platform’s code.
KuCoin was created as a more convenient alternative Mount Goxthe then popular Bitcoin trading platform, which ceased operations in 2014. The platform was launched in September 2017. In November 2018, cryptocurrency exchange KuCoin fully implemented KYC verification to comply with AML regulations.
In 2021, the user base of the KuCoin crypto exchange exceeded 10 million registered usersincreasing ninefold compared to 2020. Additionally, by the end of 2021, KuCoin’s cumulative volume for both spot and futures trading exceeded US$1 trillion for the first time since its launch.
The KCS token has played a significant role in the performance and functionality of the platform. According to the project team, the growth of the platform has led to the price of the KuCoin cryptocurrency per token reaching a peak of $28.77 in 2021.
The trading bot feature was launched in early 2021 to make it easier to monitor market conditions. In December 2021, the platform also launched an updated version of the referral program. In May 2022, KuCoin expanded its services to include the Windvane NFT marketplace.
According to the company’s semi-annual report for the first half of 2022, the KuCoin cryptocurrency exchange almost reached 20 million registered userswhich added 9.75 new clients during this period, and increased its valuation to $10 billion after a series of large-scale venture investments.
KuCoin trading volume in both the spot and futures markets has increased by 180% compared to the first half of 2021. Overall, it exceeded $2 trillion. KuCoin spot market has reached its peak record trade volume of $11 billion.while futures market trading volume peaked at $23 billion.
In mid-2022, KuCoin was considered the fifth largest centralized cryptocurrency exchange in the world by volume. Demographically, KuCoin is one of the most globalized cryptocurrency exchanges, with approximately 70% of its user base coming from the EMEA and SEA regions.
KuCard is the new physical Visa card coming to the platform. Initial plans to support KCS, BTCAnd USDT. According to the team, there will be no annual fees for the KuCoin cryptocurrency, although trading fees may apply for converting cryptocurrency to fiat.
Michael Gan is the CEO of KuCoin. He has been involved in cryptocurrency since 2012 and is considered an early Bitcoin investor. Before founding the KuCoin cryptocurrency exchange, Gan worked as a technical expert at Ant Financial, a subsidiary of Alibaba Group.
Eric Don is the former president of the KuCoin cryptocurrency exchange. Don is a systems architect who worked directly on the development of the KuCoin blockchain. Like Gan, he is an early Bitcoin investor, having been in the crypto scene for over a decade.
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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.
