KuCoin Cryptocurrency Exchange Review : Pros & Cons

About KuCoin

KuCoin are two tech geeks who were early blockchain adopters. Having started coding at the age of 8 and founded his first startup at the age of 16, Michael immediately started to mine BTC when he heard about Bitcoin from his boss Eric in 2012. But when he tried to sell some BTC on Mt. Gox, he discovered that what was the world’s largest platform at the time was difficult for beginners to use.

As the adoption of blockchain continued, Michael and Eric realized that it was reshaping the financial system into one that would not only serve richest few, but everyone in the world — even the less educated, unemployed, and unbanked. By the end of 2013, they wrote the first pieces of KuCoin Cryptocurrency of code in a cafe, starting a People’s Exchange that would allow all to get involved with crypto.

Information Table

How To Register At KuCoin Cryptocurrency Exchange ?

To register on KuCoin , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your KuCoin Cryptocurrency Account ?

There is no mandatory verification at KuCoin , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 1NRG. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At KuCoin Crypto Exchange ?

There are two main options for topping up your balance on KuCoin. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From KuCoin Cryptocurrency ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your KuCoin Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Fees

KuCoin offers a tiered maker/taker fee model, with trading fees ranging from 0.0125%-0.1%, depending on your tier level. Its fees are relatively low compared to competitors, which may charge up to 0.50% per trade. Users can also get trading fee discounts based on their KuCoin Token (KCS) balance. 

In addition to trading fees, KuCoin also charges withdrawal fees that vary by asset and are subject to change based on market performance. Deposits are free on this exchange, but it’s important to note that KuCoin offers limited options for fiat deposits at this time. 

Withdrawal Fee Rate

Spot Crypto

Features Of KuCoin Cryptocurrency Exchange

Available At Android & IOS Store

KuCoin Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Customer Service

KuCoin offers multiple options for customer support, though similar to many competitors, you can’t contact someone directly over the phone or via email. However, users can engage in a live chat to get answers to basic questions or submit a request for assistance to get help with more complicated issues. 

Security

While KuCoin offers KYC verification and industry-standard security features, this exchange was subject to a major hack in 2020. Hackers stole over $280 million worth of crypto from users’ hot wallets. Fortunately, the assets were covered by an insurance fund, but a security breach of this magnitude is still concerning.

Technical Support Range

• An exception occurred while using the API
• Network connection failure while using KuCoin products
• API access encountered an error
• Product bugs and security issues
• Technical cooperation
• API optimization recommendations

24/7 Live Chat

If you’re awake, we are too. When you need help, our team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

Customer Satisfaction

KuCoin Cryptocurrency receives poor marks overall from its users, and it has an average of just 1.7 out of 5 stars across nearly 600 Trustpilot reviews. Several negative reviews report problems with customer support, the withdrawal process, and making deposits. Others accuse KuCoin of market manipulation and say their assets randomly disappeared from their accounts, which is especially concerning. Despite the negative feedback, some reviewers did have positive things to say about KuCoin’s low fees and wide selection of cryptocurrencies. 

KuCoin Conclusion

KuCoin is a cryptocurrency exchange founded in 2013 with headquarters in Singapore. It offers a platform for buying, selling, and trading digital assets. KuCoin has a wide range of supported coins and is known for its user-friendly interface and low fees. It also has a security system in place to protect users’ funds and personal information. Overall, KuCoin is a well-regarded exchange in the crypto industry and can be a good option for individuals looking to buy or trade digital assets.