Kucoin Exchange Review
- 50% of all fees are shared with Kucoin coin holders
- Easy to Use
- Low fees
- Very popular
Kucoin Cryptocurrency Review
Our Trust Score: 9/10
Kucoin is a well-known and extremely popular cryptocurrency exchange company based in Hong Kong. It is one of the most up to date sites and has a reputation for also being very secure when it comes to trading cryptocurrencies.
The idea of Kucoin when it was created was to provide its users with a straightforward platform for to trade cryptocurrencies via a large a digital portfolio. So far Kucoin has proved to be just that with an extensive assets profile via KuCoin Shares (KCS), but please note that Kucoin does not offer margin trading.
The company did have the advantage of being a bit of a latecomer into the cryptocurrency marketplace only establishing itself in mid-2017. This late emergence has worked in Kucoin’s favour as their software team have been able to design a system that cuts out all the clutter that some of its competitors seem to have on their sites.
If you are put off by the fact that Kucoin is relatively new, then don’t be. The team itself has plenty experience with cryptocurrencies as the founding team began studying blockchain trends way back in 2011, while the platform itself began development in 2013. The team remained flexible and this is exactly why the end result is a seamless cryptocurrency platform that has gained fast recognition.
Now, Kucoin has over 50 mainstream cryptocurrency pairs listed. By the end of 2018, the company is expected to have over 1,000 cryptocurrencies. On top of this, all the reviews we have been seeing so far are positive with a consistent upwards trend meaning Kucoin has so far been a sound investment for anyone involved with the platform.
- Founded in 2017
- Modern Crypto Site
- Over 50 mainstream pairs listed
Kucoin has its own coins called Kucoin Shares (KCS). The idea is to invest using your cryptocurrency into KuCoin shares. The more trades KuCoin does, the more the fees are distributed to shareholders. If you feel that Kucoin will grow in the future, then it is worth investing in their KCS. You are also able to buy and sell Kucoins as you please, which is another great asset the company has because it allows complete freedom of trade.
There are 200 million tokens (shares) issued and each year 10% of all profit is dedicated to buying back KCS so they will be destroyed. This all works using Ethereum wallets.
- 70 million tokens are held by the issuers and founders
- 30 million tokens for industry leaders and angel investors
- 100 million is the public ICO
Kucoin Share Benefits
All users that hold tokens have incentive bonuses. That means at least half of all trading fees will go to any users that have their KCS deposited on the platform. Other benefits are applied to those that have a minimum holding making them eligible for reductions in trading fees. With an increased shareholding there is also the benefits of one-on-one investment advice from Kucoin experts as well as priority customer service.
Tracking Kucoin Shares
If you are investing in a portfolio, then you are obviously going to want complete transparency. Kucoin gives all its investors open book on their ChangeLog. There are also promotions and alerts providing the latest information and news on cryptocurrencies that Kucoin dealing with.
Since V1.0 was launched Kucoin introduced mobile apps on top of its desktop offerings. You can now use the Kucoin app for Android and iOS devices.
If you like to diversify your cryptocurrency trades, then Kucoin is definitely going to be on your list of cryptocurrency sites to trade.
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Market Trading Tools
As Kucoin’s initial idea was always to make their platform as user-friendly as possible, you can expect just that. The layout is extremely easy to use with the ability to switch between markets and view trading pairs with ease. You can also fast track to buy/sell.
When you select the trading pair that you want to get more information about, such as KCS/ETH you will be taken to its main trading page. From here you have the ability to buy/sell currencies, view market trends, and order book. You also have an additional layer of security added here as when you buy/sell, you will need to enter your Google Authenticator code, which makes trading on this platform feel very safe and secure.
- Easy user interface
- Tab switching between cryptocurrencies
- View all available trading pairs
- Fast track to buy/sell
The nice thing about Kucoin is that it is one of the easiest cryptocurrency sites to sign up to. You can visit their website and sign up via just an email and password. After this just verify your email to receive further instructions so you can customise the settings to your preferences.
You can set up 2-step authentication using your smartphone and/or SMS for added security.
From your account, you will be able to take advantage of other settings that include tracking your assets, managing Kucoin bonuses, invitation bonuses and rewards.
- Email and Password
- Email Verification
2-step authentication (Optional)
Accepted Payment Methods
You can deposit directly into Kucoin using a reputable cryptocurrency wallet. Coinbase wallet or Binance account. Essentially this is a crypto-to-crypto based portfolio, so they do not take credit cards or bank transfers aka fiat currencies. As long as your payment is via a cryptocurrency supported by Kucoin, then you will be able to buy Kucoin shares.
Here are just a few examples of wallets you can use to buy shares from Kucoin:
• MyEther Wallet
As with most cryptocurrency websites that offer the ability to trade, Kucoin aims to keep their fees low. With so much competition out there, this is the only way to stay competitive. One thing is for sure, Kucoin’s low base fees make it a very affordable platform to trade in cryptocurrencies.
- Deposit Fees
Any deposits made on Kucoin are free. This is brilliant and basically, it seems the concept here is the more the merrier and this is partially why Kucoin has become such a renowned cryptocurrency trading website.
- Trading Fees
Fees are set at 0.1%. really that is all there is to it. No matter which currency you trade, you know you are only being charged a very small amount whenever you trade with Kucoin.
- Withdrawal Fees
For withdrawal fees, things can seem a little complicated at first because the currencies have different fees applied. Honestly, though, they are still so low compared to other sites, so you probably won’t worry too much about the calculations unless you are dealing with extremely high numbers.
with some cryptocurrencies, fees are free. For example, GAS and NEO, which are both popular on Kucoin provide free deposits and trades. There are also other currencies that come with very low fees. BTC is only 0.0005% and LTC 0.001%. For ETH, fees are just 0.01%.
in cases where the withdrawal is for less than the fee multiplied by 100,000 is administered almost instantaneously. For instance, in the case of the 50 BTC fee, this would be the 0.0005% set fee multiplied by 100,000 making the fee only 50. The transaction will be put through immediately. Although some other withdrawals where this does not apply may take slightly longer.
All withdrawal fees can be found here: email@example.com
Kucoin uses crypto-to-crypto trading, so there is no countries ban from trading on their platform. Some cryptocurrency exchanges ban certain countries because they accept fiat currencies as payment, and there are certain countries they would rather not do that from. However, Kucoin is open to anyone in any country that has a cryptocurrency wallet that is compatible to buy Kucoin shares.
Is Kucoin.com a Safe Cryptocurrency option?
Yes, it is very safe. Kucoin is based in Hong Kong. There is some apprehension at the moment as China have not brought in their new policies regarding cryptocurrencies as of yet, so no one is quite sure what to expect, but Kucoin will still go on regardless because foreign investors will not be affected. Any new rules will impact Chinese citizens.
Why Choose Kucoin?
Kucoin has made sure from the offset that their style and way of doing things within the cryptocurrency trading arena is different to many of the other exchanges by introducing modern easy to use features.
- Excellent customer service: 24/7 customer support attracts investors globally. The more investors it attracts and larger its portfolio grows; the more exchanges are made and as a result, share holders can earn a passive income.
- The user interface is extremely easy to use: The system is so well set-up that an infinite amount of trading pairs can be used. By 2018 there will be over 1,000. This also includes supporting cryptocurrencies individuals or companies want to create.
- Highly professional management: Kucoin is successful because their team has been researching blockchain for many years. The company’s main team have positions in leadership roles in some well-known companies including Ant Financial, iBOX PAY, and Youling.
- Stability: Mostly stability is reserved by the financial sector using multilayer architecture and clustering. Kucoin also has a disaster recovery plan in place backing up over 2 locations with 3 different centres.
- Safe system architecture: All micro-wallets are on Amazon clouds in a Kucoin network that is private, and this means that the system is protected by state-of-the-art firewall systems. Plus, multilayer encryption is used for all Kucoin wallets.
- Better tracking than the stock markets: 2 million+/second means that trading figures are thousands of times quicker than you would find on the stock markets. There is zero lag or delay even when there are market booms with high system demand.
- Sleek operational tactics: Both online and offline promotions are always being worked on to make Kucoin more attractive. The most attractive part is the fact that a large portion of the commission is given directly back to the users. This attracts more investors and more interest in Kucoin helping it grow larger.
- Invitation Bonuses: Any members of Kucoin that invite new people and successfully get them to join will benefit from a portion of the trading fees made by that introductions. Now don’t start thinking this is a pyramid scheme because it is not. Kucoin loses money off of this by giving it away, so this is a totally legit bonus incentive that has been well thought out.
Most importantly of all, the fees for trading, withdrawals and deposits are very low for Kucoin users. This makes it the perfect platform when it comes to choosing a cryptocurrency exchange. Everyone is looking to take advantage of the boom in blockchain’s popularity, and at the same time, they are looking for a cost-effective way of doing so. With Kucoins low fees, that is made possible.