Our Verdict

KuCoin is a global cryptocurrency exchange operating in over 180 countries. It offers 900+ cryptocurrencies and various tools suitable for both beginners and professional traders.

The mobile version is ideal for crypto newbies due to its light and intuitive interface. In contrast, the desktop version, with its sophisticated instruments, leveraged tokens, and customizable trading bots, caters to seasoned traders.

With comparatively low trading fees and fast order execution, KuCoin is an excellent choice for day traders and algorithmic traders. Additionally, the copy trading feature, along with customizable bots, meets the needs of traders who prefer automated activities.

KuCoin Pros and Cons

Is KuCoin Right for You?

Not all traders are the same. Some seek easy apps for trading on the go, while others look for advanced features like leverage or social trading. When reviewing exchanges, we cater to all types of traders, from occasional to frequent. We divided all traders into seven main target groups.

Our thorough yet straightforward method ensures a clear understanding of trading strategies and their requirements. By assessing, ranking, and recording key factors, we determine how well the exchange meets the needs of each target group. We use three types of rankings: perfect match, good choice, and not recommended. Here’s our verdict:

Casual Traders: Perfect Match

KuCoin is a perfect match for casual traders like myself. While performing my tests, I used a handful of tokens stored in a self-custodial wallet. Transferring my assets to the exchange was straightforward, and I conducted trades via the P2P service, incurring only a network fee. The exchange didn’t charge for these transactions, which makes this method ideal for this group of traders.

Day Traders: Perfect Match

KuCoin is a perfect match for Day Traders. When it comes to day trading, KuCoin outshines most competitors in this area. The trading platform has many trading tools and indices, enabling traders to perform their analyses without leaving the app. At the same time, the comparatively low trading fees help preserve a significant portion of traders’ profits.

Hodlers & Position Traders: Perfect Match

KuCoin is a perfect match for hodlers and position traders. With a wide variety of tradeable assets, KuCoin is well-suited to long-term investors. The platform offers over 900 different assets and provides bonuses for inviting new users. Position traders, in turn, benefit from the comparatively low trading fees and high liquidity.

Leverage & Derivatives Trading: Perfect Match

KuCoin is a perfect match for leverage and derivative traders. While it offers derivatives, futures, and leveraged tokens, the desktop version of the app provides only 10x leverage, whereas other global platforms offer 50x and more. However, the mobile app offers a more flexible solution, allowing leverage up to 100x.

Thus, KuCoin is a great choice for those who wish to add high-risk assets to their portfolios.

Auto, Social & Copy Trading

KuCoin is a perfect match for auto trading. During my tests, I discovered 6 out-of-the-box trading bots based on the most popular trading strategies. Notably, one bot is based on the DCA strategy, which enables automatic purchases of a specific coin at predefined intervals.

While the platform doesn’t offer a copy trading feature, it includes some social trading elements. For instance, Whale Watch helps track large trades for specific assets, and Market Events highlights significant activities such as large orders and new 7-day highs or lows.

Algorithmic Traders: Acceptable choice

KuCoin is good enough for algorithmic traders as it offers a comparatively wide range of bots based on different trading strategies. There are 6 strategies available, though they slightly differ across desktop and mobile versions. Additionally, the mobile app provides a $15 trial fund for practicing your tactics.

DCA Investors: Perfect Match

KuCoin is a perfect match for a Day-Cost-Average strategy while investing in crypto. During my tests, I discovered a dedicated trading bot for buying a selected asset on a schedule. The investment frequency varies between 1 day and 2 weeks. This feature aligns KuCoin with industry standards, as most large exchanges commonly offer it.

Supported Countries and Regions

As a global platform, KuCoin has broad coverage, operating in over 180 countries. In this aspect, KuCoin outshines most competitors who support fewer regions.

However, KuCoin doesn’t operate in the US. This ban also applies to other US territories such as Puerto Rico, Guam, the Northern Mariana Islands, and American Samoa.

The list of restricted locations includes the following regions:

• Singapore
• The mainland of China and Hong Kong
• Thailand
• Malaysia
• Uzbekistan
• Ontario, Canada

Full limitations for users are detailed in Article 17 of KuCoin’s Terms of Use.

KuCoin Bonuses and Special Offers

There are no regular welcome offers for newcomers on KuCoin. However, the platform regularly launches such campaigns with limited-time gift packs, first-trade rewards, and more.

The platform runs an everlasting referral program, allowing users to earn a 20% commission on the trading fees paid by the invitees. To take advantage of it, new users must provide a referral code along with a referral link during registration.

As for other perks, KuCoin often releases limited-time bonuses and special offers, with varying conditions and reward sizes.

The trading platform itself doesn’t offer cashback opportunities. However, KuCard, a debit card issued by the platform, provides lucrative rewards of up to 4.7% on crypto purchases. Cardholders also get additional privileges such as vouchers, gift cards, and merchant discounts.

KuCoin Background

Establishment: KuCoin was founded in 2017. Its headquarters reside in Seychelles. With the goal of “going glocal”, the platform established regional headquarters across many other countries in 2022.

Leadership: KuCoin is led by two early blockchain adopters, Michael Gan (Chairman) and Eric Don (COO). Inspired by Mt. Gox’s success in the early 2010s and disappointed by its complexity, they launched a beginner-friendly cryptocurrency platform.

Security & Transparency

However, KuCoin’s reputation took a hit after a successful hacking attempt in 2020 resulted in significant fund losses. Although the platform fully reimbursed all victims promptly, its trust score was affected, leading to mixed ratings on reputable ranking platforms. Additionally, KuCoin lacks insurance coverage for customer deposits, which is a significant drawback.

Verified Trusted Scores

The rankings are high, but not the best. The likely reason for that is KuCoin’s history of security breaches. In September 2020, the exchange experienced its largest hack, losing $280 million. Following the incident, KuCoin quickly and fully reimbursed all victims, maintaining its reputation as a transparent cryptocurrency exchange with a clear communication strategy.

While performing my tests, I discovered that KuCoin offers many different security measures to help users protect their assets.

Cyber Security Measures: The desktop version is equipped with three types of 2FA: email, phone, and Google Verification. In addition, I could set up a trading password, automatic logout upon IP changes, and anti-phishing codes for the most critical activities such as login and withdrawal. In the mobile version, I’ve also found Touch ID and Pattern Unlock

Thus, I can confidently say that KuCoin follows all the industry’s best practices in providing multi-layered security.

General Reliability: KuCoin features an active Bug Bounty Program with rewards exceeding $5,000. This program encourages developers to find and report bugs rather than exploit them.

Corporate Communication Structure and Transparency: The company doesn’t share any information about its founders on the official website. However, I easily found their profiles on LinkedIn. The company is also active on the most popular social media platforms, such as Twitter (X), LinkedIn, and Telegram.

Is KuCoin Safe to Trade With?

KuCoin operates in the gray areas as it does not hold a license from any major financial body like the FCA. In addition, it has experienced several successful hacking attacks but fully reimbursed the victims promptly. Despite this, it implements robust security measures to help users protect their assets.

In summary, our findings indicate that KuCoin can be regarded as having a moderate level of trust and stability due to the following factors:

• Proof of Reserves with full coverage
• History of successful hacking attacks
• Active bug bounty program
• Verifiable team profiles
• Transparent fee structure
• Active social networks

Trading Experience

KuCoin offers robust API documentation for developers but lacks a sandbox for testing, relying on mocking instead. Test interfaces are available for Spot, Margin, and Futures orders.

KuCoin also issues KuCard, a debit card for storing crypto and using it alongside fiat currencies for daily shopping. Benefits include cashback and discounts at partner establishments, but it is limited to residents of the European Economic Area.

In addition, KuCoin offers various tools for making passive income in crypto, including:

• KuCoin Earn for passive income through a professional asset manager
• Daily compounded savings with flexible conditions
• Staking
• High-yield promotions for a limited time
• Advanced tools like Shark Fin, Dual Investment, and Snowball

Trading Test

For our trading test, we thoroughly evaluated the KuCoin platform. Our process included signing up, completing the KYC (Know Your Customer) verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

To sign up on KuCoin, you must provide your email address or phone number, or sign up with your Telegram or Google account. I used Google, which was very convenient.

The KYC process was simple and fast. To complete the verification, I had to upload a scan of my ID and take a real-time selfie with it. During my testing, getting a decent-quality selfie with a laptop webcam was challenging, but after a few attempts, I succeeded. Verification took a few hours, granting me access to all features quickly.

Logging in with my Google account, I opted to “trust this device for 30 days” with Google Authenticator. However, I had to repeat this process for every login, which was frustrating.

When I tried to deposit fiat, I was disappointed by the limited selection of currencies — only five were supported. This might differ by region, so it’s worth checking.

Depositing crypto was straightforward; I transferred USDT from my Metamask to the free wallet address provided by KuCoin. The transaction was hassle-free, though the Ethereum network gas fee was $4.5, with no additional charge from KuCoin.

Deposits using the Litecoin network require five network confirmations, with no estimated processing time provided. In my experience, it took about 10 minutes to confirm my LTC deposit.

Step 2: Trading

When depositing funds from an external wallet, the money arrives in your Main account. In order to do Spot trading, you have to transfer assets to the corresponding internal account.

This can be done on the Assets Overview page by selecting “Consolidate” in the drop-down menu for the coin you want to trade. There is also an option in the Spot Trading interface. This process was not immediately obvious and took me a while to figure out.

When I purchased LTC for USDT, the platform charged me a flat 0.1% fee. This corresponds with the fee declared on a dedicated webpage. The transaction itself took a couple of seconds. While trading, I noticed an annoying sound with each click, but this can be switched off in the settings.

Step 3: Withdrawal and Review

During my testing, I withdrew LTC over the Litecoin network back to Bybit. KuCoin charged a withdrawal fee of 0.005 LTC ($0.37), 5x higher than Bybit’s 0.001 LTC ($0.07) fee. However, KuCoin processed the withdrawal quickly, and the LTC reached my Bybit wallet in just over 10 minutes.

I also tested the fiat withdrawal process on KuCoin. After exchanging my crypto assets for EUR, I initiated a SEPA transfer back to my bank account. SEPA withdrawals have a minimum withdrawal amount of 5 EUR and incur a 1 EUR fee. SEPA withdrawals can take 1-3 days, however, if your bank supports SEPA Instant, you should receive your funds in under a minute.

In my experience, as my bank account supports SEPA Instant, the funds reached my account in under a minute. However, keep in mind that fiat withdrawals can only be made to bank accounts that have already been used to deposit funds into your KuCoin account.

Desktop Version

In this review, I tested the desktop version of KuCoin. The platform offers the same functionality as the mobile version, although some features are slightly different. The desktop version may be overwhelming for beginners or casual traders like myself due to its complex interface and wide range of tools and features.

KuCoin’s desktop version follows the industry standard layout, making it familiar and easy to use for seasoned traders. During my tests in the Chrome browser, the platform operated smoothly, providing a seamless experience.

Charts. KuCoin’s desktop trading platform is the best fit for experienced crypto traders pursuing sophisticated strategies. Its advanced charting capabilities, along with a plethora of trading tools and features, can help you bring your trading experience to a new level. Even beginners will find the well-designed interface easy to navigate.

Navigation ease. While performing my tests in the Chrome browser, the navigation process was comparatively simple. I quickly found the tools I needed, and the responsive trading interface was convenient. Performing a trade involves three steps: finding the trading pair, selecting the order type, and specifying the price and quantity. I completed these steps quickly.

Withdrawal: As I tried to withdraw my assets to an external wallet, the platform required me to specify the wallet address and the network. KuCoin’s “Saved addresses” feature simplifies this by storing trusted wallets, eliminating the need to re-enter addresses. You can also send funds directly to another KuCoin user using their email, phone number, or UID.

The Order Book on KuCoin is quite standard as it shows the list of buy and sell orders with prices and amounts of assets, helping traders make informed decisions by displaying the average price.

Coin Search: KuCoin offers quite a convenient coin search functionality. I’ve managed to find the assets I was interested in quite easily by typing their tickers in the appropriate field. In addition, the platform shows the current rate for each pair along with the size of a gain.

Wallet Protection: KuCoin’s “Saved addresses” feature enhances wallet protection, and the system warns of mistakes in the wallet address upon withdrawal.

My Key Takeaways After Testing KuCoin

At first glance, the KuCoin Trading platform may seem overwhelming for novices due to its many tools and features. However, after testing, I found it balances sophistication and simplicity well.

The layout follows standard practices and strongly resembles other industry leaders like OKX and Binance, making it a perfect solution for experienced traders who wish to move to a new platform.

Mobile App

KuCoin Mobile App is available for iOS and Android. It combines two key products: the trading platform and the wallet which enables users to perform their trades and manage assets on the go.

Compared to the desktop version, the KuCoin mobile app is lighter and more user-friendly, making it better suited for novice traders.

To help users protect their assets, KuCoin Mobile implements industry-standard security measures, including anti-phishing code, Google verification, Touch ID, and Pattern Unlock.

Key features and tools on KuCoin Mobile include:

• Coin Search. You can easily find a coin or a trading pair you need through a dedicated search field.
• Trading features. The app supports various order types, including Limit, Market, Advanced Limit, Stop Limit, Stop Market, OCO, and Trailing Stop. Other elements, like Order Book, Order History, and Coin Info, are also available.
• Market Discovery. A separate page within the app offers market insights such as Top Movers, Leading Sectors, and Market Sentiment.

• Alerts. With the help of this feature, traders can get instant notifications when the prices of specific assets reach predefined levels. The alerts can be changed at any time.
• Watchlist Management. Traders can create a list of their favorite assets to quickly access them on a dedicated panel.

• Quick Trade Execution. Users can make quick trades via Fast Trade using third-party processors like Simplex or Banxa, or opt for P2P transactions with a broader selection of payment methods.
• Trading Bot. Users can create a trading bot using strategies like AI-powered, Cost Averaging, and Grid Strategy, with a $15 trial fund to test each strategy.

My Key Takeaways After Testing KuCoin on KuCoin Mobile

While the mobile version offers practically the same set of tools and features as the desktop solution, I appreciated the simplicity and clarity of the interface. I was able to perform all operations and easily find all items.

Also, I’d like to particularly note the strong yet simple security measures that the app offers. Overall, the mobile app is a much better fit for crypto novices thanks to its user-friendly design.

Fees

What’s more, holders of the platforms’ native token, KCS, receive discounts and higher 24h withdrawal limits. KuCoin doesn’t charge any fees for crypto deposits and withdrawals. Fiat transaction fees vary depending on the method used.

Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. We focus on the essentials and potential savings through native tokens and various discount schemes. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels.

The first tier typically represents casual traders, as they don’t usually trade more than $10,000 per month, while the higher tiers often relate to more advanced traders. Using this method, we’re categorizing users not only by their trading style but also by the amount of money they spend on the exchange.

Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability.

As for the fees for fiat deposits and withdrawals, I was unable to run a real test and assess the fees. The only available method I had was the payment processor Volet.com (formerly AdvCash), which restricts Russian citizens from using its service. This limitation may also apply to other regions. This is a significant drawback for casual traders like myself, who often have to rely on fiat payment gateways instead of spare crypto.

Deposit Fees

KuCoin has limited options for fiat deposits. Unlike competitors like Kraken, which offers free fiat deposits, KuCoin charges for EUR deposits via SEPA and Volet.com. However, KZT, RUB, and UAH deposits are free via Volet.com, and free BRL deposits can be made via bank transfer.

Withdrawal Fees

Despite limited withdrawal options, KuCoin maintains low withdrawal fees across the available options. USD withdrawals are free via Volet.com, while EUR withdrawals can only be made via SEPA transfer, incurring a 1 EUR fee.

I found KuCoin’s withdrawal fees to be competitive compared to other exchanges. However, the number of supported fiat currencies is very limited, with major currencies such as GBP, CAD, AUD, and CHF not supported.

Leverage And Futures Trading Fee Rate

On KuCoin, the fee structure for futures is similar to spot trading, with users paying the same maker/taker fees. However, the fee amounts differ. You can find a comprehensive overview in the table below.

KuCoin Futures Trading Fee Structure

Since futures trading involves much higher risks, the fees charged for these activities are lower. This asset class is best suited for investors looking to diversify their portfolios.

Please remember that fees and available methods may vary by country.

I found KuCoin’s futures trading fees to be highly competitive and among the lowest in the industry, especially for high-volume traders. However, I noticed that funding fees on KuCoin were noticeably higher than those on competitors like Binance and Bybit, at times being almost twice as high.

Fee Discounts

KuCoin offers several methods to reduce trading fees, including:

• KuCoin’s native tokens. Buying and holding KCS provides traders of all levels with trading fee discounts.
• High trading volume. Advanced traders can reduce their trading fees by reaching specific trading volumes over the last 30 days. The minimum discount starts at 3 million USDT for spot trading and 5 million USDT for futures trading.
• Trading fee discount coupons. Available for both spot and futures trading, these coupons are ideal for beginners and casual traders.

Enable Fee Discounts with KCS

Are KuCoin Fees Competitive?

During my tests, I made sure that the fees charged by KuCoin matched those listed on its website. While generally lower than the industry average, funding fees are notably higher than those of competitors.

The platform doesn’t charge any non-trading fees for crypto transactions Unlike Kraken, which offers free fiat deposits, KuCoin charges for them and supports fewer payment methods and fiat currencies.

Please note that fees may vary, so it’s advisable to check KuCoin’s official website for the latest information.

In summary, KuCoin’s fees are competitively priced, making it a good choice for professional traders.

Cryptocurrencies Available on KuCoin

At KuCoin, users can trade popular cryptocurrencies such as BTC, ETH, LTC, and XRP, as well as rare and niche offerings like ENS (Ethereum Name Service), AXS (Axie Infinity), and STORJ (Storj). The platform also provides crypto startups an opportunity to list their tokens through the launchpad KuCoin Spotlight. Applicants must submit a form and regulatory compliance documents. For every new coin, the platform provides basic information about the listing roadmap and requirements for investors, with more details available on the same page or in a blog post.

 

KuCoin doesn’t offer any crypto-to-fiat trading pairs, which is a downside for casual traders like myself. However, investors can fix their profits without cashing out digital assets by using a variety of stablecoins.

Besides popular options like USDT and USDC, there are other fiat-backed assets such as USDJ, and USDE. Also, there are crypto-collateralized stablecoins such as DAI and USDD along with algorithmic ones like CELO and AMPL.

For popular assets such as LTC, ETH, or SOL, KuCoin boasts deep liquidity that is suitable for institutional investors. However, liquidity for minor cryptocurrencies is often lacking. While KuCoin Trading Bot regularly delists assets that don’t meet liquidity standards, many low-performance coins remain.

Note: Purchasing large amounts of low-liquidity assets can result in significant losses due to immediate price spikes.

Deposits & Withdrawals

KuCoin lacks direct support for major currencies, including:

• USD
• GBP
• CAD
• AUD
• CHF
• JPY

This makes the exchange less convenient for users in countries like the UK, Canada, Australia, or Japan, as their local currencies are not supported. However, P2P trading makes up for this with support for 54 fiat currencies, including the currencies listed above that are not directly supported by the exchange.

KuCoin Deposit Options

Peer-to-peer service (P2P): The inclusion of P2P trading enhances accessibility for users outside the directly supported fiat regions, making it easier to deposit funds. P2P trading allows KuCoin users to exchange crypto and fiat currencies with each other using various payment methods not directly supported by KuCoin, such as Apple/Google Pay, Zelle, and Revolut.

Minimum and maximum deposit amounts vary depending on the payment method and currency. Typically, the minimum deposit amount ranges from 5-10 EUR equivalent, while the maximum deposit amount is 50,000 EUR or equivalent.

My experience depositing fiat currency to KuCoin was positive. I deposited EUR via SEPA transfer, and the funds were credited to my KuCoin account in less than 5 minutes. KuCoin makes the process easy by providing all the necessary information for seamless copying and pasting into your banking app.

KuCoin Withdrawal Methods

The withdrawal process on KuCoin is just as straightforward as the deposit process, with the same transfer methods and currencies available. The only exception is that EUR withdrawals cannot be made using Volet.com, although USD withdrawals are directly supported via Volet.com.

Minimum withdrawal amounts for most withdrawal methods are around 5 EUR equivalent. This will vary for P2P trading, as individual providers set their own minimum transaction amounts.

Withdrawing fiat from KuCoin was just as smooth as the deposit process. After converting my crypto assets to EUR, I initiated a SEPA transfer that credited my bank account in under a minute. Transaction speeds and fees vary depending on the currency and region.

KuCoin Daily Withdrawal Limits

Daily withdrawal limits on KuCoin vary based on your level of verification. KuCoin’s crypto withdrawal limits are comparable to most competitors, but the fiat withdrawal limit is significantly lower compared to exchanges like Kraken, which offers a base fiat withdrawal limit of 500,000 USD.

Customer Service

During my two-week testing, I tried contacting support through both methods but did not have much success. I had to wait more than 48 hours to get a response to my ticket, and I was unable to reach a real person in the Live Chat. Yet, since I did receive a response from a real person via email, I can’t say that KuCon’s support is terrible. Things are usually even worse on average across the industry.

KuCoin Customer Support Test

The customer support at KuCoin is poor. During my tests, I was unable to get help from a real person. I recommend relying on the FAQ and blog for sorting out how the platform works.

In the Live Chat, there is only a robot named Emilia, which is far from helpful. Whatever I asked, it kept on suggesting articles from the Help section that were only vaguely related to the point of my question. When I tried to reach a real person, I faced a total fiasco. Emilia did not even attempt to connect me to a human representative.

The bot in the Live Chat is not very helpful as there is no way to talk to a real person

I reached out to the support team by submitting a ticket, which required additional ID verification, including a selfie with a document, which was not very convenient. Within 24 hours, I received an automated notification, and about 12 hours later, a real person responded via email. However, the response did not directly address my simple question, which was frustrating.