Over the past decade, cryptocurrency has become a legitimate, popular investment asset. Exchanges like KuCoin make this investment process easy and fun. According to KuCoin, two “tech geeks” who had the foresight to become “early blockchain adopters” founded this exchange several years ago. The pair began writing the code for KuCoin in a café in 2013, and they made good on their goal to turn the platform into the “People’s Exchange.”
From those humble beginnings, KuCoin now has millions of investors, and it is well-known in the crypto world.
Today, KuCoin is known to be a Seychelles-based cryptocurrency exchange that offers a wide range of tradable cryptocurrencies, competitive trading fees, and advanced features like margin trading and futures trading. However, it is not licensed to operate in the U.S., making it best-suited for traders who already own crypto and are looking to trade less common cryptos.
Pros and Cons
Pros
- Broad selection of tradable cryptocurrencies
- Competitive trading fees
- Volume discounts on fees
- Offers advanced features like margin trading and futures trading
Cons
- KuCoin is not licensed in the U.S.
- Funds kept on the platform are not insured
- Suffered a major hacking incident in 2020
Recommended For
KuCoin could be an excellent choice for advanced crypto investors who are looking for low fees and access to a broad range of cryptocurrencies. However, due to its lack of licensing within the U.S., it may be best suited for traders who already own crypto and are looking to trade less common cryptos.
Regulated By
Unfortunately, KuCoin is not licensed to operate within the U.S. While you can still access various functionalities such as buying and selling crypto on their site from within America, using Kucoin’s services will remain complicated and risky due to unavailability of licensing and KYC disclosures which reduce crime and money laundering.
According to KuCoin, due to internal policies, they do not disclose license information to the public.
Top Features
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Broad selection of tradable cryptocurrencies
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Competitive trading fees
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Volume discounts on fees
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Offers advanced features like margin trading and futures trading
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KuCoin Trading Bot
Overview
- Type of Exchange Crypto Exchange
- Regulation & Licensing According to KuCoin, due to internal policies, they do not disclose license information to the public.
- Clients Accepted from United Kingdom, Australia, Russia, Germany, India, and more.
- Assets Offered 700+
- Platforms Available Web, Mobile
- Mobile Compatibility iOS, Android
- Payment Types Accepted Credit Card, Bank Transfer, Apple Pay
Account Types
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KuCoin Account |
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Features |
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Account Currencies |
Multiple fiat currencies such as RUB, UAH, USD, EUR, GBP, and BRL for fast-transfer services. |
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Available Leverage |
The initial leverage is the leverage multiple manually set when opening a position. These leverage multiples are from 0.01x to 100x. After opening a position, the actual leverage will change as the unrealized profit and loss changes. Then the leverage multiple can be a decimal, even more than 100x.
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Minimum Deposit |
$0 |
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Demo Account |
Yes |
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Copy Trading Support |
Yes |
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Commission Per Trade |
$0 |
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Trading Instruments |
Cryptocurrency & Futures |
Trading Platforms
- KuCoin offers an intuitive interface with various functionalities such as buying or selling crypto assets. The platform supports more than 700 coins catering to both newbies and experienced investors alike.
Trading and Investment Tools
- One Click Trading Yes
- Trade off Charts Yes
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Limit Order Yes
- OCO Orders Yes
- 24hr Trading Yes
- Streaming News Feed Yes
- Trailing Stop Order Yes
- Charting Package Yes
Compliance & Regulation
As mentioned earlier, KuCoin is not licensed to operate within the U.S., making it complicated for users based there who cannot complete standard financial industry Know Your Customer (KYC) disclosures.
Fees & Commissions
- Rollover Fee 0.1% per redemption
- Margin Interest The platform will charge 5% of your accrued interest as fees and 10% as the insurance fund.
Pricing
Kucoin charges low fees with additional discounts available when using their native token KCS or based on average monthly holdings or previous month’s trading volume.
Service Details
- Supported Languages 2+ languages
- Customer Service Hours 24/7
- Email Response Time Several Business Days
- Telephone Orders No
- Personal Account Manager Yes
Reliability & Security
KuCoin has partnered with Onchain Custodian, a Singapore-based crypto asset security platform, to maintain custody of its assets which are also backed by Lockton, a private insurance brokerage. However, U.S.-based users may face limited fraud and hacking protection due to their inability to complete KYC verification.
User Experience
Opening an account with KuCoin is easy but the limitations faced by U.S.-based customers in terms of KYC process completion can impact user experience negatively for them as they won’t have access to certain features like higher daily withdrawal limits or fiat trading among others.
Final Thoughts
KuCoin offers competitive fees and advanced features that make it attractive for advanced crypto investors outside the U.S., however its lack of licensing within the country poses significant challenges for traders based there who should weigh these risks carefully before considering using the platform.
Contact Info
Vistra Corporate Services Centre, Suite 23, 1st Floor, Eden Plaza, Eden Island, Mahé, Republic of Seychelles
FAQs
Q: Does KuCoin Offer Margin Trading?
A: KuCoin is one of the few exchanges where U.S. residents might be able to open up a crypto margin account. This risky investment practice enables users to borrow money to amplify their returns (and their potential losses).
Q: Does KuCoin Offer Crypto Lending?
A: KuCoin also allows users to lend their crypto holdings to other would-be margin traders. Interest rates and term lengths vary by coin. It’s important for investors to understand the risks that come with Crypto lending. While the loans are collateralized and the recipient must maintain a certain balance, price dips may occur causing losses and the platform states it is not guaranteed to fully cover any losses.
Q: Can I start trading with just $1?
A: KuCoin allows users to improve their practical experience through a variety of trading and financial products for as low as $1.
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