KuCoin Exchange Review
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About Kucoin review
In this Kucoin exchange review we will explain why we are fans of this crypto exchange and we will walk you through all that you need to know before getting started buying and selling cryptocurrencies at Kucoin.
Kucoin launched in 2017 and fairly quickly made a name for itself in the crypto world due to its early adoption of certain altcoins and their own coin called Kucoin Shares (KCS) which is a passive income coin, where you as a holder of KCS gets a percentage of the trading fees from the Kucoin exchange. Overall Kucoin has proven to be a worthy exchange and a decent competitor to Binance. Kucoin holds most of the popular coins, but they are also often one of the first to add new altcoins. The customer service has proven to be reliable.
Kucoin for us have really positioned themselves well during the 2018 bear market with their revenue share model (passive income), and their willingness to add new altcoins very quickly. Like other new startup exchanges they had their share of problems in their growth period. But today they have to be seen as one of the top exchanges available, with a great selection of coins, lets find out more in Kucoin exchange review why they have managed to grow very quickly to become a well known and liked exchange.
Moving into 2020 KuCoin is still one of the most popular cryptocurrency exchanges in the world. With its strong name for a go-to place for trading altcoins. But now with some more years to its name it can also be considered as one the stronger and more trusted names.
Even though as always we recommend our readers to be wary of the security of all cryptocurrency exchanges. Even the bigger and more popular ones.
How to get started
Kucoin prides itself of being one of the first exchanges in the world that adds new exciting altcoins to their selection of available cryptocurrencies for trading. You are probably one of those with an interest of uncovering the next gem. So here we will make it very easy for you to get started with Kucoin in no time.
If Kucoin seems interesting and you wonder how to get started using the exchange, we’ve put together an easy to follow guide here in our Kucoin exchange review.
- Go to Kucoin’s website using this link HERE
- Click on signup
- Enter your details
- Confirm email that gets sent to your account
- Done 🙂
We recommend you to add 2-F authentication. To further secure your account.
For fees at cryptocurrency exchange there are usually a couple of standard fees that are common at cryptocurrency exchanges. And in this section we will provide greater details about them. It is important for you as a customer of the cryptocurency exchanges to be aware of this before using the exchanges.
Therefore we at Go CryptoWise aim to clarify these fees for all crypto exchanges so it becomes super easy for you to buy and sell cryptocurrencies on your terms.
Usually there are these fees at cryptocurrency exchanges:
Trading fees such as maker and taker fees (for taking or removing liquidity on the market. As in taking or adding trades on the order book. Transactions fees associated with withdrawing or depositing cryptocurrency or Fiat (USD, GBP, EUR) funds from and to an exchange.
- Maker fees are when you add liquidity to the order book by placing a limit order that is either above the current highest selling price and lower than current highest bidding price
- Taker fees are when you remove liquidity from to the order book by placing a limit order that is immediately executed against the order book
- Withdrawal fees are when you withdraw cryptocurrencies or Fiat money (USD, GBP, EUR) from an exchange
- Deposit fees are when deposit cryptocurrencies or Fiat money (USD, GBP, EUR) from an exchange
So in this Kucoin exchange review these are the current fees that we have seen for Kucoin. They might change over time so please always check the latest fees at their website
0.1% trading fee
The Trading Fee Discount is activated. KuCoin users holding KCS will get a specific discount on trading fees. Details Inside
KuCoin continues to adjust the withdrawal fees to match the current prices of the cryptocurrency assets. So that you won’t have to pay to much or little after a cryptocurrency changes in price often, and quickly.For the full list of fees click here.
Kucoin according to Coinmarketcap has 411 coins available to trade on their platform. Meaning most if not all of the bigger ones, and a good few smaller altcoins that might be of interest. But this numbers changes often as more assets are added and some are de-listed. Check on KuCoin’s website or at Coinmarketcap.com for the full details.
See the full list here.
And many more
Withdrawals & deposits
With Kucoin you need to add your own crypto to their exchange to get started trading, this is normal at most online crypto exchanges.
We have provided you with a detailed step by step guide for withdrawing and depositing funds in this Kucoin review.
How to deposit
To Deposit follow our guide below
- Go to Kucoin’s website www.kucoin.com
- Locate the correct wallet address for the coin you want to deposit – Go to Assets and then click on Deposits tab
- Once you have chosen the correct coin, click on the Confirm button, and the address will appear. Finally, copy the address of the coin you want to deposit
- Go to the wallet or exchange where you’re sending the coins from and paste the address in
How to withdraw
To withdraw follow our guide below
- Go to Kucoin’s website www.kucoin.com
- Locate the correct wallet address for the coin you want to deposit – Go to Assets and then click on Withdrawal tab you need to have activated 2FA before you can withdraw
- Select the cryptocurrency that you want to withdraw
- Click on the add wallet address – give it a name and paste in the address you want to send to
- Setup a security question and answer
- Hit confirm
- Now you can select this address from the drop down menu
- Select the amount that you want to withdraw and answering a security question that you setup earlier
- Add in the temporary code from your 2FA and hit confirm
- You’ll now get an email sent to your account which you need to open and hit the confirm transaction to initiate the withdrawal
KuCoin’s system uses industry standard transfer encryption protocols. Overall, they aim to provide bank-grade encryption and security. They have standard security features in place, like 2F-Authentication and they have a 24/7 customer support team available for quick help and support if you have any queries, which compared to others in the crypto exchange business is rather good.
Go CryptoWise’s security tips for everyone to read and know!
- Use 2F-Authentication – for example Google 2F-A
- Do not share your login details with anyone
- Do never share your private keys with anyone
- Create and store your backup passphrase for your 2F-A
- Check the URL twice, hacks and phishing scams happens often
- You need to be in control of your own crypto
You can’t completely trust that an exchange will always protect your cryptocurrencies. This is an extremely important crypto tips to be aware of. Remember it’s you that are in control of your own crypto, not the exchange, not a bank, or a government. Therefore you need to make sure that you also are storing your crypto somewhere safe. A hardware wallet is the way to to go, find a good wallet for you in our wallet comparisons.
Check out our guide on best crypto tips here.
We have put together this guide to help you keep yourself safe and avoid some of the common risks in the crypto space – find the guide on the 6 best tips to protect you crypto
Not 100% clear, but you need to check in your country what the rules are. But this is what Kucoin states in their Ts&Cs
Restricted Locations (as defined in Section 2.1 above); (f) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms; (g) are not a designated person under regulations issued pursuant to the United Nations Act (Cap. 339 of Singapore); and (h) have read and understood these Terms and the Risk Disclosure Statement
Kucoin launched in 2017 and fairly quickly made a name for itself in the crypto world due to its early adoption of certain altcoins and their own coin called Kucoin Shares (KCS) which is a passive income coin, where you as a hodler of KCS gets a percentage of the trading fees from the Kucoin exchange. Overall Kucoin has proven to be a worthy exchange and a decent competitor to Binance.