Kucoin Review 2024

Kucoin

Kucoin is a leading cryptocurrency exchange and trading platform. They support 810 coins across 1436 markets.

Kucoin

In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.

Summary

Pros

  • Extensive selection of over 700 cryptocurrencies
  • Low trading fees, especially for high-volume traders
  • Advanced trading features including margin, futures, and derivatives
  • User-friendly mobile app and desktop interface
  • Wide range of payment methods for deposits
  • Native token (KCS) offers additional benefits and fee discounts
  • Educational features like Futures Brawl for learning leveraged trading
  • Robust security measures including 2FA and cold storage
  • Regular promotions and bonuses for new users
  • Support for trading bots and automated strategies

Cons

  • Not licensed in the USA, limiting some features for U.S. users
  • No insurance for funds stored on the platform
  • Past major hacking incident in 2020
  • Limited educational resources easily accessible
  • Customer support can be slow and unresponsive
  • Not available in some countries due to regulatory restrictions
  • Withdrawal processes can sometimes be slow
  • Occasional market manipulation concerns
  • Some features are complex for beginners
  • Lack of fiat withdrawal options

Features

Spot Trading

Kucoin allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.

Futures Trading

Kucoin supports futures trading. Derivative contracts that you can trade on leverage without providing margin.

P2P Trading

Kucoin support P2P trading. Where you trade directly with other people through specific payment methods or giftcards.

NFT Marketplace

Kucoin has an NFT marketplace, where you can buy/sell NFTs and collectibles.

Trading Bots

Kucoin has trading bots that you can use to automate your trading strategies.

Staking

Kucoin allows you to stake your crypto and earn passive income.

Options

Kucoin supports options trading. Pick a crypto, and guess the direction, if you're right, you earn more crypto.

Margin Trading

Kucoin supports trading on margin. Leveraged trading where you must put up collateral.

Launchpad

Kucoin has a launchpad for new, exciting tokens. Often low marketcap tokens that are yet to blossom into maturity.

Debit Card

Kucoin offers users access to a crypto-backed debit card.

Money

Fees

Like all centralized exchanges, Kucoin charges fees. This is how they generate revenue, and keep their operation running.

  • Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
  • Withdrawal fees. Kucoin charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by Kucoin.
  • Kucoin's maker fees: 0.1%*
  • Kucoin's Taker fees: 0.1%*

Maker/taker fees are tiered. As you trade more and generate volume, they often fall.

Payment Methods

Kucoin supports 5 payment method(s). You can use the following the deposit/withdraw to/from the exchange.

  • Credit/Debit Card
  • Crypto
  • PayPal
  • Apple Pay
  • Google Pay

Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.

Kucoin supports 47 fiat currencies.

Security

Keeping your funds safe

Kucoin offers 2 additional layer(s) of security. Aside from the obvious -- email and password.

  • 2FA
  • SMS

KYC

Kucoin requires KYC to use their services. KYC usually involves sharing your personal details, some form of ID, a mobile phone number, and in some cases, proof of address.