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Kucoin Exchange Review
4.3 (40 votes)

Kucoin Exchange Review

Kucoin is a cryptocurrency exchange that comes with outstanding features and a wide range of cryptocurrency. This exchange also provides the benefit of a rewarding user-loyalty scheme based on its own cryptocurrency, KSC.

Kucoin overview

Kucoin is one of the best cryptocurrency exchanges for those who are seeking a modern and secure platform to trade between cryptocurrencies. It is a Hong-Kong based cryptocurrency exchange which was founded by an experienced team of blockchain and cryptocurrency professionals. Since 2011, the team has been working on the research of blockchain technology and they built the platform architecture back in 2013. After 4 years, they finally launched the exchange in 2017 with the aim of becoming one of the top ten worldwide exchange platforms by 2019.

This exchange operates on crypto to crypto and does not support any type of fiat currency. The exchange has its own native currency called KuCoin Shares (KCS) that enable holders to receive profit from the success of the exchange. The coin acts like shares in the exchange and grants various types of bonuses to its token holders such as lower trading fees, income from fees, and other beneficial services.  KCS holders will also get great discounts on their trades and they will be awarded with 50% of the trading fees.  Most of the ICO companies launch airdrop to promote their ICOs.

Additionally, to encourage platform growth a bonus is provided to their registered users for inviting new users to the exchange. Users who send an invitation will get a portion of trading fees accumulated by the invitee.

  1. If you refer your friends to the exchange, then you will receive 20% of the fees that they pay to the exchange.
  2. You will get 12% of fees from users that you friend refers to the exchange.
  3. You will receive 8% of the fees when you friend’s friends refer to the exchange.

Key features of Kucoin

The platform is striving hard to stand apart from other similar cryptocurrency exchanges by providing outstanding features.

  1. It has a powerful API Interface.
  2. The platform is supported by a highly talented team of professionals blockchain and cryptocurrency experts.
  3. Has a consultant team with financial experts.
  4. The platform is using dynamic authentication, data encryption, multi-level risk identification control, and other systems to ensure complete transaction security.
  5. Fast processing for withdrawals and deposits on the exchange.
  6. It provides more cryptocurrency selection when compared to other exchanges and offers trading pairs between BTC, ETH, NEO, KCS, and USDT.
  7. No verification is required to deposit, trade and withdraw.
  8. The exchange is renowned for providing outstanding customer available for 24/7 through the hotline, website and email for ease of use.

Benefits of Kucoin

Unique operations strategies

According to exchange incentive policies, the platform can sustain active user’s interest and make business even more dynamic. The exchange is aiming to become one of the top 10 exchanges of the crypto world and believe it will be achieved by providing incentive and referrals that will help in driving its growth.

Financial stability

This exchange platform is based on advanced multi-layer and multi-cluster architecture. It provides bank-level disaster-proof deployment with three centers and two locations for handling multiple tasks simultaneously.

 Powerful engine

The exchange has a powerful trading engine with a great capacity of handling 2 million order-making requests in 1 second and 1 million order requests per second in general.

System security

The platform utilizes industry standard transfer encryption protocols to provide outstanding bank-grade encryption and security feature.

Low trading fees

They will charge just 0.1 trading fees for trading all the cryptocurrencies on their exchange. The fees will be charged from the cryptocurrency that you are purchasing. For example, if you buy Ethereum with Bitcoin then you will be receiving 99.9% of the ETH you purchased.

Signing up on Kucoin

Step 1: Go to the homepage of the website.

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Make sure that you have opened the official website of the exchange as there are many websites that resemble the original site. It is good to examine the website URL and check for Secure Certificate to authenticate the original website.

Step 2: Complete the sign-up process

It is really very easy to register on the platform. You just need to enter your email address and password and click “Next”.  After this you will get a confirmation email containing a link through which you can log in to your new KuCoin account.

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Step 3: Enable 2-factor authentication (2FA)

Similar to other exchanges, it is recommended to enable 2-factor authentication that will add an extra level of security to your account. For this, click on the “Settings” tab and search for the tab title Google 2-Step. If you are new to this, then you are required to download the Google Authenticator app on your mobile which is available in App store or Google Play and inside the app, scan the QR code. The app will display a security code that needs to be inserted every time to confirm/activate the 2FA.

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After completing these first 3 steps you are finished with the basic account setup.

How should you buy cryptocurrency from Kucoin?

Deposit the funds

To buy cryptocurrency from the exchange you first need to deposit your cryptocurrency such as BTC, ETH, etc. to buy other cryptocurrencies. Once you have signed up with your Kucoin account, follow these steps to deposit your digital currency on the exchange. Here is an example of depositing Bitcoin (BTC).

  1. Open the deposit window by clicking on the “Deposit” tab.
  2. Select the cryptocurrency tab to drop down the different coins available.
  3. Click on “BTC” to open the Bitcoin window for your wallet address.

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Copy the address and paste it into the exchange or wallet that you are using to send BTC to KuCoin or you can scan the QR code provided on the screen to read the address.

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Copy this “BTC Deposit Address” and enter your Bitcoin exchange as a “Recipient” (you want to send it here). For example, within Coinbase, you need to enter it here.

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This is how it looks within CEX.IO

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Buy cryptocurrency on Kucoin-Basic

  • Click the tab “Markets” to open the basic exchange window.

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  • Choose the cryptocurrency through which you want to trade.
  • Select “Buy” or “Sell” in the fast trading section for the cryptocurrency that you want to sell or buy.

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A small window will open. Press on “Buy”.

  1. Click to fill the market price in the “Price” box or enter the price manually that you want to pay in the “Price” section.
  2. Fill the number of cryptocurrencies to buy at the price from #1.
  3. Press to buy.

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Buy cryptocurrency on Kucoin-Advanced

Press on the cryptocurrency that you want to buy and the Advanced exchange window will open.

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You will be redirected to this screen where you need to enter your 2-step verification code again.

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Next, it you wish to go with blue “Best Price” then exchange will buy it at best possible price. Otherwise you have an option to put manual input to set the amount on which you want to but at.

  • Click on the blue number figure to fill it in the “Best price” or enter the price manually.
  • Enter the amount of cryptocurrency you want to buy.
  • Click to set the Active orders window.

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Transactions which are still open are listed under the “Active Orders”.

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Once you have completed your cryptocurrency buying process, you can see the totals with the “$ symbol” on the top right of the page.

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Get a detailed overview of your assets by clicking on the “Detail” button.

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This will redirect you to the “Assets” page where you can see the total balances of all the cryptocurrencies you own.

This is the whole process of how to buy cryptocurrency from this exchange.

KuCoin mobile trading

Unlike other crypto exchanges, this exchange platform provides mobile trading to their traders via their mobile application. The mobile app smoothly works on your smartphone and is available for both iOS and Android versions. This app is comprised of all the basic features available in web-trader versions and enables the users to view charts and see and open trade history.

Is Kucoin safe to use?

This exchange provides great security features for both system and operational level that ensures it is safe to use. The platform was designed using financing-level standards that include standard transfer encryption protocol for data transfer layers. It means that all  sensitive data and user data will be securely stored on data encryption at the bank level. The platform also provides multifactor dynamic authentication for additional security.

When we talk about the operational level, the exchange is equipped with a dedicated internal risk control department and one for operational processes also. These departments follow their own strict standards for operating and also utilizing data comprising multilevel reviews plus approval. The team and founder of Kucoin launched this exchange in 2017 when they had tested all the aspects of the exchange and implemented the features of the latest security, technical, and encryption protocols.

Kucoin’s customer support

Generally, customer support is a sore point for cryptocurrency exchanges users. But, KuCoin is well-known for its 24hour customer support services and quick, on time responses. This exchange provides excellent customer support with various methods through which users can contact the support team. They are backed by professional team members who can resolve client issues in a timely manner. The support is available for 24/7 and customer can easily contact them through email support@kucoin.com or contact support through the website. Apart from troubleshooting and answering questions, the support team is always ready to hear suggestions from their valuable users.

Kucoin’s transfer limits 

No, there are no limits on any KuCoin transactions.

Withdrawal cryptocurrency from Kucoin to your crypto wallet

There is no doubt that Kucoin is a great exchange but it is good to hold your cryptocurrency in your wallet. By following a few simple steps, you can easily withdrawal your cryptocurrency from the exchange and send it to your crypto wallet.

1 – Go to the homepage of the exchange and login.

2 – Click on the tab “Assets”.

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3 – In the overview section, search for the cryptocurrency that you want to withdraw and click on the “Withdraw” button. For example, we are choosing to withdraw “Quantstamp” (QSP).

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4 – The exchange will redirect you to the withdraw page of the cryptocurrency that you have selected. Fill the address, amount, and security fields that may be showing. Then, press on the “Confirm” button.

  • Address: It’s the receiving address for the cryptocurrency that you are withdrawing.
  • Amount: Fill in the number that you want to withdraw.
  • Fee: Try to send larger transactions otherwise you will be end up with the charges of multiple fees.

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Once the withdrawal process is completed on the blockchain, you can see the status “Succeeded”.  You have an option to check your transaction on the blockchain by clicking on “View Transaction”.

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This is a process how you can withdrawal your cryptocurrency from the Kucoin exchange.

Summarizing Kucoin

Kucoin is a Hong Kong-based cryptocurrency exchange. Although this exchange is new in the cryptocurrency exchanges, it has made significant headway towards becoming a top exchange. It supports only cryptocurrencies, which means it doesn’t allow any fiat currency for exchanges. The platform has earnt a good reputation among the users by providing easy, safe-trading platform with a wide range of cryptocurrency assets. Moreover, other attractive features of invitation bonus, dividends, etc. also contribute to expanding the growth of this platform. The exchange provides one standard account type for all its users. The users don’t need to verify their identities and can easily create an account within a few minutes. You just need an email address and a password to open an account and start trading.

Moreover, this exchange has developed a web-based trading platform which is user-friendly, well-arranged, and functional. The design also contains some advanced chartings with technical indicators supported by TradingView.

This article contains all the key information about the Kucoin platform so that you can take a right decision while choosing an appropriate crypto exchange and get one step closer to invest in ICO’s.

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