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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Overview
Quick Facts
KuCoin, known as "The People's Exchange," ranks among the top global trading platforms. It features an extensive selection of cryptocurrencies coupled with low trading fees. KuCoin is notable for listing new coins earlier than many other well-known exchanges.
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Pro's & Con's
- Largest selection of coins
- Low fees
- Functional scope of the platform
- Might be complex for beginners
- Mixed user reviews
- No regulation
KuCoin
Features
Feature Overview
Unique Features
- Spot, futures, margin, and leveraged ETF trading
- Crypto interest through staking & lending
- Features for professional traders
Tradable Assets
- Cryptocurrencies
Trading Options
- Derivatives
- Margin trading (leverage)
- Short/Long
Our
KuCoin
Review
Test Result
KuCoin
User Reviews
KuCoin users praise the intuitive and user-friendly platform that is suitable for both beginners and advanced traders. However, some users complain that the platform occasionally has technical problems and that the mobile app could be improved.
KuCoin is appreciated for its extensive cryptocurrency offerings and advanced trading features like futures and margin trading, with users expressing a wish for an expanded selection of cryptocurrencies and added features.
KuCoin is considered user-friendly by many, but some users report that the platform's array of advanced trading features might be too much for beginners, even though educational resources are appreciated.
KuCoin's fees are generally viewed as reasonable and competitive. Users appreciate the fee transparency but seek more explicit information about any hidden additional costs.
KuCoin's security measures are well-received, yet there are occasional reports of technical issues and delayed transactions from its user base.
KuCoin's customer support is subject to divided opinions; some praise the attentive service, while others face slow responses and less satisfactory support.
KuCoin's overall user experiences are positive, with the platform's comprehensive cryptocurrency selection, advanced trading options, and security measures being praised. Yet, there's a call for improvements in customer support and platform reliability.
About
KuCoin
KuCoin
Users?
Score
Introduction
KuCoin has positioned itself as a major player in the cryptocurrency exchange market since its inception in 2017. Offering access to over 800 cryptocurrencies across more than 400 markets, it's particularly favored by those seeking a vast selection of tradable assets. Notably, its appeal extends to both newcomers and seasoned traders due to its blend of low fees, a user-friendly platform, and stringent security measures. Furthermore, KuCoin stands out for its diverse services including futures and margin trading, a variety of crypto purchase options, and innovative features like staking and lending services, making it a comprehensive platform for digital asset trading.
Quick Facts:
- Establishment Year: 2017
- Headquarters: Seychelles
- Regulation: Operates without a national licensing body but follows legal guidelines of Seychelles.
- Spot Cryptocurrencies Listed: Approximately 800
- Native Token: KuCoin Token (KCS)
- Maker/Taker Fees: Competitive, with the lowest at 0.00%/0.04% and the highest at 0.08%/0.08%
- Security: High, with advanced features to protect users' assets
- KYC/AML: Required for certain operations and withdrawal limits.
Pro's & Con's
What we like:
- Extensive Cryptocurrency Selection: KuCoin provides access to a vast array of over 800 cryptocurrencies, making it an attractive platform for exploring emerging altcoins.
- Low Trading Fees: With base trading fees at 0.1%, users holding KuCoin Shares (KCS) can enjoy further discounts, reducing costs significantly.
- Versatile Trading Options: From spot to futures trading, and margin trading, KuCoin caters to various trading preferences and strategies.
- Earn Features: Beyond trading, KuCoin offers earning opportunities through staking, lending, and its unique KuCoin Earn program for passive income.
What we don't like:
- Regulatory Uncertainty: The lack of regulation by a national licensing body might concern users who prioritize trading on fully regulated platforms.
- Complexity for Beginners: While KuCoin is beginner-friendly in some aspects, the breadth of advanced trading options and features might overwhelm new users.
Compared to Other Exchanges
This exchange is known for its extensive range of cryptocurrencies, offering over 700 options, making it a strong contender for traders seeking diversity in their investment portfolios. It competes with giants like Binance, which is celebrated for its low trading fees and high liquidity, and ByBit, known for its advanced derivatives trading platform. While Binance caters to experienced traders with a plethora of trading tools and features, ByBit specializes in derivatives and leveraged trading, offering unique products such as inverse contracts and options contracts. This exchange differentiates itself by providing a user-friendly interface suitable for traders at all levels, along with competitive trading fees and a wide selection of altcoins.
Trading Options
Unique Features and Trading Options
Offering a blend of traditional and innovative trading solutions, this platform caters to a wide spectrum of trading strategies. From basic spot trading to advanced futures contracts, the exchange facilitates a variety of trading options. It also introduces unique features like trading bots for automated strategies and an Earn section for passive income through staking or lending, enriching the trading experience for its users.
Spot Trading
Spot trading on the platform is robust, with an expansive selection of digital assets. This feature is particularly appealing for those looking to execute immediate trades at current market prices. The vast array of cryptocurrencies available surpasses many competitors, offering traders the flexibility to diversify their portfolios extensively.
Futures Trading
The futures trading offering includes a comprehensive range of contracts, from standard futures to perpetual options, catering to traders looking for leverage and speculative opportunities. With competitive fees and a variety of leveraged options, the platform provides a dynamic environment for futures trading, although it might be more suited to experienced traders due to the complexity and risks associated with leveraged products.
Tradable Assets and Trading Options
With one of the largest selections of tradable assets in the crypto market, including rare and emerging altcoins, the platform stands out for its commitment to providing a diverse trading experience. This extensive range is complemented by a variety of trading options, including margin trading with leverage, staking, and lending, offering traders multiple avenues to grow their investments.
In summary, while the exchange offers a wide array of trading options and features that cater to both novice and experienced traders, it's important for users to consider their specific needs and trading strategies when choosing an exchange. The unique blend of user-friendly interface, extensive selection of tradable assets, and competitive fees makes it an attractive option for a broad audience. However, factors like regulatory status, platform complexity, and available trading tools should also be taken into account.
Financial Services and User Experience on KuCoin
KYC Process and Security
KuCoin has implemented a comprehensive KYC (Know Your Customer) process to align with global financial regulations and enhance platform security. Completing the KYC verification grants users several benefits, such as compliance with Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) legislation, higher daily withdrawal limits (up to 3000 BTC for the highest verification level), easier account retrieval, and access to fiat-crypto services. The verification process involves personal information submission, ID photos, and facial verification. KuCoin advises enabling two-factor authentication (2FA) using Google Authenticator for added account security.
Depositing and Withdrawing Funds
Depositing and withdrawing funds on KuCoin are crucial aspects of the user experience, directly impacted by the KYC status. Verified users enjoy higher withdrawal limits and the ability to participate in a wider range of platform services. While the specific steps and options for deposits and withdrawals may vary based on the user's location and chosen currency, KuCoin supports a variety of methods for both actions, ensuring flexibility for its global user base. It's important to note that the KYC process is now mandatory for accessing most features on KuCoin, emphasizing the importance of completing this step for a full trading experience.
KuCoin App
The KuCoin app provides a mobile-friendly platform for trading, account management, and accessing financial services. It's designed to cater to users' needs on the go, offering a seamless experience that mirrors the desktop version's capabilities. The app includes features such as real-time trading, account security options like 2FA, and access to KuCoin's vast array of cryptocurrencies and trading pairs. This ensures that users can manage their investments, monitor the market, and execute trades anytime and anywhere, with the security and functionality they expect from KuCoin.
For more detailed information on the KYC process, security measures, and the KuCoin app's features, you can visit KuCoin's official website or their support center.
These enhancements and features highlight KuCoin's commitment to providing a secure, compliant, and user-friendly trading environment, catering to both new and experienced traders in the cryptocurrency space.
Support and Resources
KuCoin provides 24/7 customer service, offering support through a variety of channels to ensure users can quickly resolve issues and get answers to their questions. The platform emphasizes user-centered service, aiming to deliver the best trading experience. Users looking for support can submit a ticket via the website or app, or engage with the online live chat for immediate assistance. This approach ensures that whether you're dealing with trading issues, account inquiries, or technical problems, support is readily accessible.
Frequently Asked Questions
How does the KYC process work on KuCoin?
Starting July 15, 2023, KuCoin mandates KYC verification for all users to enhance security and comply with global regulations. This process involves submitting identification documents to verify one's identity and address. Post-verification, users gain full access to the platform's services, while those failing to comply face restricted access to certain features. However, all users, regardless of their KYC status, can withdraw funds at any time.
What are the security measures in place?
KuCoin places a high priority on user security, implementing measures like two-factor authentication (2FA) through Google Authenticator. This adds an extra layer of security for login, trading, and withdrawals, significantly reducing the risk of unauthorized access.
How can I deposit and withdraw funds?
The platform supports various methods for depositing and withdrawing funds, accommodating a wide range of user preferences. While specific options may vary based on location and currency, KuCoin strives to provide flexibility for its global user base. It's important to note that with the new KYC regulations, completing the verification process is crucial for accessing a broader range of services, including the ability to deposit funds.
Is KuCoin available in my country?
KuCoin operates globally, offering its services in over 200 countries. Despite being based out of Seychelles with offices in Singapore and Hong Kong, the platform boasts over 30 million users worldwide, highlighting its extensive reach and availability.
For more detailed inquiries or specific issues, visiting KuCoin's official support page or contacting their customer service directly is recommended for the most accurate and timely assistance.
About the author
Ethan is the go-to crypto guru at Exchange Flow, with nearly a decade steering traders through crypto exchange platforms worldwide, Ethan brings welcome clarity to the complex terrain of digital currencies. His hands-on approach to testing and analyzing exchanges worldwide makes his reviews and articles valuable information for readers and newcomers in the crypto world. Beyond his crypto expertise, Ethan is a retro gaming enthusiast and an explorer at heart, using his crypto gains to fuel adventures around the world. Dive into Ethan’s articles and reviews for a global perspective on cryptocurrency that’s as enlightening as it is engaging.
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