KuCoin review 2023
- Regulator registration
- None
- Supported assets
- 745
- Fiat currencies
- 50
Our verdict
Buy and sell hundreds of digital currencies on the KuCoin exchange.
KuCoin is best known as a centralised crypto exchange that supports over 740 crypto assets, one of the widest selections of altcoins on any centralised exchange.
The exchange also enables you to trade crypto assets at low fees, which makes it great for crypto enthusiasts who like to trade a vast array of digital assets at low rates.
For experienced users, KuCoin offers advanced trading products as well as staking, lending, automated trading bots and mining pools.
If you are new to crypto and are just looking to gain some exposure to blue chip crypto assets, then you might not need all that KuCoin has to offer. But if you’re an advanced user or an “altcoin degen,” then KuCoin is likely the exchange for you.
Pros
- Advanced trading features. KuCoin offers advanced order types, trading tools and charts, as well as features like a trading bot.
- Over 744 cryptocurrencies supported. KuCoin supports 744+ assets, which should give you a good range of industries and asset types to invest in without needing to hop between multiple exchanges.
- Trade with multiple fiat currencies. KuCoin allows you to trade with 10 currencies including AUD, USD, EUR, GBP, RUB, CNY, KRW, JPY, TRY, VND.
Cons
- Overwhelming UI. Because KuCoin offers a number of advanced trading features, its UI can feel cluttered and may be difficult to navigate for beginners.
- Lacks the Australian Transaction Reports and Analysis Centre regulatory compliance in Australia. According to our research KuCoin is not registered with AUSTRAC in Australia. Platforms registered with the Australian Transaction Reports and Analysis Centre must comply with local laws and regulations which are designed to protect users.
Details
Product details
| Product Name | KuCoin |
| Fiat Currencies | USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40 more |
| Cryptocurrencies | BTC, ETH, BNB, XRP, ADA, DOT, EOS, LTC, UNI, ETC & 736 more |
| Deposit Methods |
Bank transfer Credit card Cryptocurrency Debit card Neteller POLi PayID Skrill P2P TransferWise Apple Pay Google Pay Prepaid card Revolut |
| Trading Fee |
Maker: 0.1% to -0.005% Taker: 0.1% to 0.025% |
| Deposit Fees |
Cryptocurrency: $0 Credit/debit card purchase fees vary |
| Withdrawal Fees | Cryptocurrency: Fees vary |
Ratings breakdown: How we scored KuCoin
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology for more information.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About KuCoin
KuCoin launched in 2017 and is based out of Seychelles.
It was born of the ambitions of “two tech geeks” who were early blockchain adopters and who have been engaging with Bitcoin since 2012.
Since then, KuCoin rose to prominence as an innovator in novel trading products and a first-lister of niche altcoins. Because of this, KuCoin markets itself as the “Top Altcoin Exchange”.
The exchange currently has more than 10 million users worldwide and does almost US$750 billion in daily trading volume.
KuCoin supported assets
KuCoin supports over 744 cryptocurrencies, but some notable assets are missing. Namely, Tether, USDC and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 16 of the top 20 cryptos are available on KuCoin.
Popular assets on KuCoinKuCoin fees
KuCoin Cryptocurrency deposits are free for folks in Australia.
Deposit and withdrawal fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Cryptocurrency: $0 Credit/debit card purchase fees vary |
| Withdraw funds | Cryptocurrency: Fees vary |
KuCoin uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.
| Type | Fee |
|---|---|
| Maker | 0.1% to -0.005% |
| Taker | 0.1% to 0.025% |
Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.
Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.
KuCoin deposit methods
- Bank transfer
- Credit card
- Cryptocurrency
- Debit card
- Neteller
- POLi
- PayID
- Skrill
- P2P
- TransferWise
- Apple Pay
- Google Pay
- Prepaid card
- Revolut
How to sign up on KuCoin
Before you can get started trading on KuCoin, you'll have to go through a Know Your Customer (KYC) verification process (which usually involves proof of identification).
- Get started
Visit KuCoin's site. After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your KuCoin account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on KuCoin.
About the KuCoin app
KuCoin was one of the first cryptocurrency exchanges to offer a fully featured mobile application. The KuCoin app is available for Android and iOS mobile devices.
You will immediately notice the difference in UX (user experience) between the web and mobile versions of the exchange: the web version defaults to a light mode while the mobile app version defaults to dark mode.
On the bottom of your screen in mobile (for iOS) you will see the options of Home, Markets, Trade, Futures and Assets, whereas on the desktop version your menu will look different.
Some will find the mobile version of KuCoin overwhelming, because it’s loaded with information. Cryptocurrency beginners may find the desktop version to be a better starting place.
| App store | Rating | Total reviews |
|---|---|---|
| Google Play | 4.3 stars | 123k reviews with 10m downloads |
| Apple Store | 4.5 stars | 1k reviews |
Is KuCoin safe?
KuCoin has had a bumpy road with respect to the level of trust it attained with its user base. However, despite past hacks and reports of missing funds, KuCoin provides many opportunities to secure individual accounts which increases trust in the overall exchange.
Regardless of the shortcomings, KuCoin maintains and implements the latest security standards from an individual user account perspective. Users are encouraged and walked through the process of setting up 2-factor authentication (2FA), a safety phrase, a trading password, segregated accounts, whitelisted crypto addresses and whitelisted IP addresses. This adherence to the latest security standards improves KuCoin’s overall trust rating.
KuCoin has released no official third-party security audits or insurance providers.
Past hacks. The most notable hack on KuCoin occurred in September 2020 when hackers stole close to US$200 million worth of cryptocurrencies from KuCoin wallets. However, most of these tokens were able to be frozen, destroyed and reissued into KuCoin’s possession. The ability to essentially reverse the hack through direct means calls into question whether or not KuCoin or these projects inhabit the quality of immutability present within cryptocurrencies such as Bitcoin.
Other cohorts of users report funds being missing or failing to be credited to their account after a deposit. While many of these stories are anecdotes, they have eroded trust in KuCoin enough to bring fault to their reputation as being a trusted cryptocurrency exchange.
Keeping your crypto secure
All centralised exchanges, including KuCoin, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,456+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $219 |
Price (USD) $49.99 |
See more of the best crypto wallets
KuCoin customer support
KuCoin has decent customer support due to its variety of support mechanisms. Users are typically able to find their own answers through KuCoin's comprehensive FAQ. However, if the query can only be solved using the help of KuCoin staff then users will need to submit a form, enter a live chat or ask a question on a forum with other users.
The contact form is designed to narrow down the support request, suggest an FAQ topic, and if need be, connect the user with the necessary support staff.
Similarly, the instant chat mechanism begins with the user interacting with a support bot, but you can ask to speak with a human. When we tested this a customer service agent took over the conversation immediately.
While reports of customer service vary online, the general consensus is that KuCoin staff are supportive and generally able to solve issues faced by users. However, there are also a number of negative anecdotes from users stating that they've permanently lost funds due to transaction or technical errors.
How to reach KuCoin customer support
- Contact form
- FAQ page
- Help center articles
- Live chat
- Support ticket
Alternatives to KuCoin
Your reviews
James Finder
Editor
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