Andrew Munro is the cryptocurrency editor at Finder. He was initially writing about insurance, when he accidentally fell in love with digital currency and distributed ledger technology (aka “the blockchain”). Andrew has a Bachelor of Arts from the University of New South Wales, and has written guides about everything from industrial pigments to cosmetic surgery.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
What is KuCoin?
Avoid keeping funds on exchanges
It is safest to avoid keeping funds on KuCoin, or any other cryptocurrency exchange.
The KuCoin web domain has reportedly been locked under order of the Singapore government. It still works, but it cannot be changed or moved outside of Singapore until the lock is lifted.
At the same time, KuCoin is reportedly facing multiple legal challenges as it goes through a period of corporate restructuring.
KuCoin is a Hong Kong-based cryptocurrency exchange distinguished by its rewards currency, KuCoin Shares (KCS), and its wide range of cryptocurrencies.
It has a reputation as an early adopter, so buyers hoping to hold coins while they’re still cheap might want to consider KuCoin. On top of this, it offers a useful charting package, which is powered by the third-party TradingView system, to suit more focused crypto holders.
Its fees are also fairly competitive and lower than many other exchanges.
The main downside is that it doesn’t deal in any fiat currencies. You’ll need to have BTC or ETH to trade the full range of available coins. You can also trade a more limited selection with NEO, BCH, USDT (Tether) or KCS (the exchange’s own coin).
Benefits of holding KuCoin Shares
KuCoin offers users the unique chance to hold the platform's own native cryptocurrency, KuCoin Shares (KCS), which users can hold in order to receive discounts while trading as well as receive dividends from trading fees collected on the platform.
Holders receive a 1% discount on trading fees for every 1,000 KCS they hold, up to a maximum of 30%.
The dividends system is what sets KCS and KuCoin apart from other exchange coins. KuCoin pays out 50% of all fee revenue from the platform each day, which is equally divided between every KCS token held on the platform.
This means a user who holds upwards of 1,000 KCS receives both a discount on all trading on the platform as well as a passive income on a daily basis. KuCoin shares may also be traded with several coins, but KuCoin shares may only be purchased on the KuCoin exchange.
Which fiat and cryptocurrencies are supported?
Supported fiat currencies:
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 20+ more
Approximately 208 cryptocurrencies
KuCoin sometimes experiences difficulties during high traffic periods.
It’s based in Hong Kong, so it may be difficult to find English-language support if needed.
How do I make a trade on KuCoin?
You can view the markets on KuCoin without registering for an account, but to actually make a trade, you will need to sign up and log in.
Visit KuCoin and sign up for an account. Make sure to go the extra step and set up two-factor authentication (2FA) right away. You can activate 2FA by going to Account > Google 2-Step.
Next, you'll want to add some funds to your account to trade for altcoins. KuCoin hosts an impressive number of trading pairs, so you can use either BTC, ETH, NEO, USDT or BCH for trading.
To send coins, navigate to your wallet by clicking on Assets on the top banner. This shows all your available coin balances. Next, click Deposit. By default, it will show KuCoin Shares. Click on the name to reveal the dropdown menu and select the coin you want to deposit.
Your deposit address and QR code will be revealed. Copy the deposit address into your withdrawal account exactly as it is written. Once you confirm the transfer, wait patiently for the funds to arrive in your KuCoin account. You should receive an email once they have been received.
Once your funds have arrived, navigate to Markets via the top banner menu. You will then need to select the currency you deposited, which will allow you to trade all altcoins paired with that coin. Click on the altcoin pair you wish to trade. For example, clicking on ZIL/BTC will allow you to trade BTC in return for ZIL.
Once you select the pair you wish to trade, you will be taken to a new screen which displays a chart with price over time, the order book (supply/demand), price data and trade history. The box in the bottom right corner will ask you to input your two-step verification code.
This box is where you can buy and sell your cryptocurrency. Use the green box on the left to input the price you wish to pay per unit of the coin then the total amount of coins you wish to purchase. To make things easier, there is a slider which you can adjust to spend a percentage of your spendable holdings. The box to the right allows you to follow the same process to sell a coin.
Once your trade has been lodged, you will need to wait until there is a corresponding buy/sell order. Once the trade has been matched, the coin will show up in your wallet immediately, which can be accessed via the Assets tab.
After you are done trading, you may keep your coins on KuCoin or move them to another wallet. As always, we recommend keeping your coins in a hard wallet to increase your safety and keep full control over your cryptocurrency. For those new to wallets, our essential guide can be found here.
No. There are no limits on any KuCoin transactions.
No. You can simply sign up and verify your email address then deposit cryptocurrencies to start trading.
Deposit and trade times may vary by currencies but shouldn’t take any longer than the usual transfer times for that currency.
Withdrawal times may vary depending on the amount. If your withdrawal amount is less than (fee x 100,000), it should be processed immediately. If it’s more than that, it might take some time.
Yes, although it’s typically safer to hold your coins in cold storage in a hardware wallet.
You should carefully consider the features of KuCoin before deciding whether it suits your needs. If you want to proceed, simply sign up for KuCoin with an email address and password, verify your email and then start trading by making a deposit from your wallet.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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