Kucoin Review: Accepted Countries, Payment Methods
KuCoin, a recently established cryptocurrency exchange headquartered in Hong Kong, was founded in May 2017 by a team of seasoned blockchain and cryptocurrency experts who began crafting its infrastructure in 2011. Unlike traditional exchanges, KuCoin exclusively facilitates the trading of cryptocurrency assets and does not support fiat currency pairs. Notably, KuCoin implements a unique profit-sharing model wherein 50% of trading fees are distributed among holders of its native token, KuCoin Shares (KCS).
KuCoin has garnered significant traction within the cryptocurrency community and sets its sights on becoming one of the leading cryptocurrency exchanges globally by 2019.
Regulations
Similar to many other cryptocurrency exchanges, KuCoin operates without regulation from established regulatory bodies. Nevertheless, KuCoin has established itself as a trustworthy platform, boasting a reputable team and founders. The CEO and original founder, Michael Gam, previously held a position at Ant Financial, the world's most valuable Fintech company. As cryptocurrency regulations evolve, KuCoin and its CEO are likely to pursue compliance measures.
Reliability
As previously stated, KuCoin has demonstrated its reliability as a cryptocurrency exchange. The software and technical components of the exchange underwent development starting from 2011 and underwent testing in 2013 during the project's consolidation phase. The team and founders of KuCoin officially launched the exchange in 2017, having thoroughly refined all aspects and incorporated the latest security, technical, and encryption protocols.
Trading Platforms
KuCoin has created its own exclusive web-based trading platform known for its user-friendly design, catering to both novice and seasoned traders. Renowned for its superior design compared to other cryptocurrency exchange platforms tested, it offers easy navigation for selecting cryptocurrency assets and markets to trade. Moreover, the platform boasts advanced trading and analysis tools, including technical indicators and charting powered by TradingView. Overall, KuCoin's trading platform delivers exceptional performance and encompasses all the essential features expected from a top-tier cryptocurrency exchange.
Mobile Trading
Contrary to numerous cryptocurrency exchanges, KuCoin provides traders with mobile trading capabilities via their downloadable mobile application. This app is compatible with both Apple and Android devices, functioning seamlessly. It encompasses all fundamental features present in the web-trader version, enabling traders to access charts, execute trades, monitor open orders, and review trade history. Overall, the mobile application offers a pleasant and user-friendly experience.
Trade Types/Instruments
KuCoin operates exclusively as a cryptocurrency exchange, without any additional services or fiat trading pairs available. Traders must acquire cryptocurrencies with fiat currency from other platforms before engaging in trading on KuCoin. The exchange boasts an extensive range of cryptocurrencies available for trading, with new coins continuously being added. It offers a broader selection compared to many other exchanges, with trading pairs including BTC, ETH, KCS, NEO, and USDT. KuCoin provides traders with straightforward trade options, allowing for the exchange of one cryptocurrency for another. However, it lacks advanced features such as margin trading, aligning with the basic offerings typical of most cryptocurrency exchanges.
Commissions and Spreads, Deposits and Withdrawals Options, Bonus and Promotions, Customer Support
KuCoin boasts some of the lowest fees in the cryptocurrency exchange arena, aiming to attract users and solidify its position as a top exchange. Deposits are fee-free, while trades incur only a 0.1% charge. Withdrawal fees vary by coin. Users can further reduce fees by utilizing KuCoin Shares for trading, as the exchange returns 90% of fees to its users.
KuCoin exclusively offers cryptocurrency deposits and withdrawals, ensuring swift transactions through the user's assets page, with added security options like Google Authenticator and email confirmations.
The platform stands out with its generous bonuses and promotions, with 90% of fees returned to users. Active engagement, investment in new cryptocurrencies, and participation in competitions can lead to rewards. Users also receive bonuses for holding KuCoin Shares, which offer benefits like reduced fees and entry to various events.
KuCoin provides excellent customer support via a 24/7 live chat hotline staffed by knowledgeable representatives. Additional support is available through email and a comprehensive FAQ page. The support team typically responds promptly and professionally, surpassing the standards of many other exchanges.
