VERDICT: As a whole, KuCoin exchange has become one of the most popular crypto exchanges across 207 countries and regions in the world. Comparatively, it provides a series of financial services including crypto-to-crypto trading, fiat-to-crypto purchases, futures, staking, borrowing, and many more.
Additionally, the trading platform is also convenient for users on-the-go, as it has a mobile app on both Android and iOS mobile devices. KuCoin exchange also supports various promotion programs and a referral program. Among the promotional programs is a 30% discount that is applied to users’ fees if they use the exchange’s native token, KCS.
On a negative note, the exchange does not allow fiat-to-crypto trading. Yet, the KuCoin exchange’s main attraction is the available trading pairs offered on its platform.
Furthermore, the trading platform has partnered with Arwen to bring users a self-custody option for crypto assets. Rather than rely on a third-party exchange wallet to secure your assets, you can leverage the native security of your digital asset’s blockchain and trade through KuCoin.
KuCoin exchange is one of the top digital asset trading platforms in the world. Furthermore, the crypto exchange flaunts of serving one out of every four crypto holders internationally. Since its establishment, the exchange has expanded its services, hosting over 300 employees in 207 countries.
Presently, the cryptocurrency exchange has global branches spread across the United Kingdom, India, Canada, Singapore, Japan, and Turkey. In fact, to cater to various nationalities, KuCoin’s trading website is translated into 17 languages. These include English, Russian, South Korean, Hindi, Turkish, German, Chinese, and French, among others.
In addition, KuCoin exchange has a wide selection of assets and services, a high number of users and liquidity, and low trading fees. Meanwhile, as of October 2020, the platform has more than 5 million active users. Also, the trading platform has more than 400 markets and supports trades for around 200 cryptocurrencies.
History Overview
Although the KuCoin exchange’s technical architecture was designed in 2013, it began to operate fully in 2017. The crypto exchange was founded by Michael Gan and Eric Don and is headquartered in Seychelles. By all means, the exchange is known as the “people’s exchange”. Hence, it offers low trading fees and an easy-to-use interface for all its users.
Afterward, the KuCoin exchange raised its funds through an initial coin offering (ICO) conducted between August 13 to September 1, 2017. During the ICO, the exchange issued its native token KuCoin Shares (KCS). Following this, nearly $20,000,000 in BTC (at the time) were raised in exchange for 100,000,000 KCS.
Firstly, the ICO price for a single KCS was pegged at 0.000055 BTC. Accordingly, KCS tokens can be used for multiple purposes including promotions on the platform, trading discounts, and as a part of exchange profits. Equally, KCS holders are able to receive exclusive rewards and cryptocurrency dividends on a regular basis.
KuCoin Exchange Platform Interface
As a matter of fact, Coingecko ranks KuCoin exchange as one of the busiest trading exchanges. Significantly, the platform has a combined daily average volume of around 100 million. After all, its objective is to create a simple and safe platform for all its traders.
With this in mind, users can access the platform through a desktop computer and the KuCoin App through Android and iOS.
Supported Cryptocurrencies
Accordingly, the KuCoin exchange keeps expanding its number of digital assets being offered for crypto users across the globe. The numerous supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRX), and Tether (USDT). In addition, the platform also supports NEO (NEO), Ripple (XRP), and its native token KuCoin Shares (KCS), among others.
Undoubtedly, users can directly purchase crypto and stablecoins using various payment methods offered on the platform. Moreover, by utilizing the fast buy feature, KuCoin exchange clients can purchase multiple digital assets with low fee rates. Again, KuCoin enables its users to trade each crypto asset against Bitcoin, KuCoin Shares, and stablecoins such as USDT, USDC, TUSD. Not to mention other altcoins as well.
KuCoin Exchange Deposit/Withdrawal/Trading Fees
To clarify, KuCoin exchange is exclusively for crypto-to-crypto. Therefore, users are not permitted to deposit any fiat except when buying it directly via third-party integrations. On the positive side, the platform does not charge any fee for deposits.
More so, withdrawals are usually processed within 30 minutes. In addition, withdrawal fees are charged depending on the token. Provided that the withdrawal amount is huge, the process is handled manually to maintain the security of user assets. However, the platform does not support fiat money withdrawals.
The trading platform also uses technology that can handle millions of transactions per second (TPS). Furthermore, payouts on the platform should be particularly fast. Also, they last no more than 10 minutes.
Pros
Low trading and withdrawal fees
User-friendly platform
A diverse selection of altcoins
All-round clock customer service
Ability to purchase crypto using fiat
Non-compulsory KYC checks
Ability to stake and earn crypto yields
Cons
No fiat trading pairs
No bank deposits
