Home » Cyberg Reviews » KuCoin Review: 2021 Crypto exchange evaluation

KuCoin Review: 2021 Crypto exchange evaluation

Summary
The crypto market has been blooming throughout the last decade; thus, many exchange applications have come into existence. KuCoin was founded in 2017 and has proven to be a trusted platform for exchanging your digital assets, such as cryptocurrencies and NFTs. More features are being added to the platform, still what KuCoin offers today has made it the chosen application for millions of people worldwide.
Good
  • Different charts and infographics for beginners and experts
  • Ample training and educational resources
  • Acceptable number of coins and trades
  • Futures, margin trades and trading bot available
  • KCS token
Bad
  • Relatively high transaction fee
  • US regulations do not approve it
6.5
Fair
fiats and coins supported - 6
transaction fees - 6
features - 7
user-friendliness - 7

Cryptocurrencies are one of the hottest topics of the era; indeed, some suggest that we are on the verge of an economic revolution. In 2020 over 13% of Americans bought the crypto coin at least once, and the numbers are rising. Therefore, people need reliable cryptocurrency exchange applications to make their trades. This KuCoin Review discusses one of the most popular global crypto exchange tools.

Suppose you are new to the cryptocurrency world. In that case, I recommend reading about Bitcoin and other tokens to increase your knowledge on the subject. In addition, learning about blockchain technologies is beneficial.

KuCoin Review: logo

About the KuCoin Review

Our goal at Cyberg is to provide comprehensive reviews that would assist you with choosing the best application on the grounds of your requirements and preferences. In the lines of that policy, we discuss the advantages and disadvantages of the KuCoin cryptocurrency exchange application in multiple aspects.

First, we give a brief introduction of KuCoin and its history, and then we mention the fiat currencies and the crypto tokens that KuCoin supports. Next, the top features of the application are evaluated. Then we list the costs and transaction fees in KuCoin. Next, we compare the app to other crypto trading web applications in the KuCoin Review. Finally, we summarize the article by highlighting the positive and negative aspects of the trader.

What is KuCoin?

KuCoin is a powerful cryptocurrency trade platform that offers trades of over 400 different tokens. According to the website, one out of four crypto traders use KuCoin. The company was based in Hong Kong in 2017. Now the exchange headquarters has moved to Singapore, and since it was launched, it has done over $450BN worth of transactions. The crypto company also holds the KuCoin token, ranked among the 100 tokens with the most market dominance. KuCoin does not follow US cryptocurrency laws; therefore, you can’t use bank transactions to buy coins in the US; however, you can still trade your cryptocurrency assets.

KuCoin Review: Supported national currencies

Although almost all countries can trade their national fiats into USD and use it for buying virtual currencies, people would prefer to use their local fiats to avoid paying extra transaction fees. Therefore, the more fiat currencies a crypto exchange application supports, the more popular it becomes worldwide.

Currencies KuCoin Review

KuCoin is one of the most potent apps in terms of fiat support. You can buy crypto tokens in KuCoin using 50 different fiats ranging from common currencies such as USD, EUR, and GBP to fiats of small countries such as Qatar and Georgia. This makes KuCoin an advantageous exchange application considering that most exchange platforms accept less than ten fiats.

What Tokens and Coins are available for trade on KuCoin Review?

As of 2021, there are over 6000 digital tokens available on the internet. Although most are uncommon and too risky to buy, some people would like to try their luck with new coins. In addition, for those interested in day trades, having a wide variety of coins is considered a great investment opportunity. In this part of the KuCoin Review, we discuss the coins traded in the exchange application.

There are over 50 coins that you can buy directly using KuCoin. In addition, you can trade more coins with the coins that you’ve already bought. These coins include the top tokens with the highest market cap, such as Bitcoin, Etherium, and USDT. In addition, there are less common coins that you can trade over KuCoin, such as NEO and Maki Swap.

KuCoin Review: top features

This part of the KuCoin Review discusses the top features that matter to mainstream crypto traders and investors. However, in a separate chapter, we talk about what is considered the most important feature, the transactions fees. The features we evaluate in this section are security, UI & UX, analysis tools, trade options and support, tutorials, and finance options.

Security and safety

Safety comes first, whether you’re trying the crypto market with a small proportion of your savings or you’re investing your business assets in cryptocurrencies—kuCoin hosts over billions of dollars of tokens. The four-year history of the company shows that it is trustworthy and safe. Two-factor authentication passwords protect the accounts, and you can ask for confirmation every time you perform a trade. Therefore, KuCoin is one of the safest digital asset exchange platforms as of 2021.

US regulations do not approve KuCoin. However, the laws are vague regarding cryptocurrencies and other virtual assets; therefore, using other cryptocurrency exchanges is not prosecutable. US traders can trade over KuCoin using a VPN. Nonetheless, if you want to know which US regulations support crypto exchange platforms, check out the cryptocurrency exchange application reviews on Cyberg.

KuCoin Review: UI & UX user testing

Starting trades in KuCoin is straightforward and fast. You don’t even need to verify your ID to trade in KuCoin. All you need is an email or a phone number to sign up. The interface leans towards more experienced traders, and the tables offer almost real-time market prices.

The menus make navigation fast and smooth. In addition, the design elements represent a professional exchange environment for crypto traders.

The footer hosts the sitemap where you can access KuCoin contacts, products, KuCoin win, tool, services, business, legal, and app download.

You can have KuCoin on your Android or iOS smartphones to check your account and trade tokens. The app works great and is easy to use on both types of devices. Moreover, it offers most of the features you would have on the web application.

In a nutshell, the overall user interface design and functionality are satisfying and helpful.

Spotting the market on KuCoin Review

When it comes to cryptocurrency trades, your success rate is highly dependent on the information you get. Thus, we evaluate how you can customize your charts and infographics on the digital currency exchange app.

Markets view

In this tab, you can view all the available pairs on KuCoin, whether stable coins, altcoins or BTC. The downside is that you can’t view the prices in USD. However, since you can’t deposit money to KuCoin with your American credit/debit cards, it makes sense. You can also choose the stable coin of your choice to get the actual price of the tokens in USD.

One of the exciting features of KuCoin is that you can add alarms if a particular token reaches a limit. This is better for those who prefer to supervise and authorize transactions instead of using bots and APIs on their exchange application.

trading

Trading views

There are four ways to trade on KuCoin. First, spot trading allows users to buy and sell crypto tokens instantly. Second, margin trading enables traders to leverage their investments and multiply their gains or losses. Therefore, if you’re new to the crypto world, steer clear of margin trading to avoid liquefaction of your assets. The following way you can trade on KuCoin is by using APIs. There are hundreds of different applications that provide technical analysis and automated trades when you’re dormant. Again, I would strongly recommend that you avoid using APIs unless you are assured that it is a secure and trustworthy application.

Last but not least, KuCoin Trading Bot can earn profits without monitoring the market.

KuCoin Review trading bots

There are four types of bots that you can program to make automated trades when the prices hit the upper and lower bounds that you define. There are no additional charges on using these bots; however, the transaction fees remain in place. Let’s introduce the four types of bots you can use on KuCoin: First, there is spot trading. Second, DCA or Dollar-Cost averaging is a more conservative method of investment where you invest your dollars in increments instead of a large deposit. This reduces the risk by splitting the cost over time. Futures Grid and Smart Rebalance are other bots available on the mobile app.

Help and Support, KuCoin Review

Suppose you have any questions regarding Blockchain ledgers, trade principals, KuCoin products and services, and such queries. In that case, you can look at the Blogs or contact KuCoin online support via email.

KuCoin Review, Tutorials

A comprehensive exchange would offer good tokens, various trading options, and the essential instructions on how to use those features to make a healthy profit. Therefore, one of the factors discussed in the evaluation is the availability of tutorials inside and outside the web application domain.

Tutorials on KuCoin Website

In addition to the blog and support pages on the KuCoin website, which we discussed earlier in the KuCoin Review, there are scattered links that will guide you to informational pages on different tools and features. For example, when you go to the trading bots section, a tutorial link for each type of bot will lead you to a descriptive page with screenshots that elaborates how you can use the bots.

tutorials

External Tutorials

Having a large amount of educational content about a web application indicated two points. First, you can learn from other users or influencers that you enjoy learning from. In addition, the more content there is on using a typical application, the more popular and reliable it sounds.

An official KuCoin YouTube channel with tutorials and user guides can prove helpful for both beginners and experts. Moreover, dozens of YouTube influencers and crypto experts show you how to trade assets to make luscious earnings.

There are some Udemy, Skillshare and other courses that mention KuCoin and its features, though there are no exclusive KuCoin courses available on such websites.

Generally, there is more than enough information on cryptocurrencies and how to trade them online. Thus, you won’t run into problems finding out how to trade on KuCoin.

KuCoin features summary

There are dozens of crypto exchange apps available today, and the numbers are growing along with the crypto market cap. KuCoin is one of the better exchanges in offering as many options as possible in a straightforward and user-friendly platform. However, we should also consider the fees in the trading app.

Transaction Fees, KuCoin Review

Professional traders can walk their way through complex UIs and combine multiple apps to cover any weaknesses regarding analytical features. However, they cannot change nor ignore the significance of trading fees. Amateurs, on the other hand, would also prefer a trader with low fees. In this part of the KuCoin Review, we discuss the takers fees, makers fees, and other costs on KuCoin.

KuCoin Review: fees

KuCoin Review: ordinary fees

The makers and takers fee in KuCoin is equal to 0.1%, which is relatively high compared to other trade platforms. However, the flat rate makes calculations easy. If you want to lower the fees, you can increase your trade amount over 30 days or use KCS as your reference currency.

KCS Pay Fees

KCS or KuCoin token is the currency supported by the crypto exchange company. Therefore, your KCS trades on KuCoin cost 20% less than other coins. This phenomenon has become a trend among exchange platforms. For instance, Binance also offers discounts if you use BNB coins.

KuCoin Review, VIP level discounts and free trades on KuCoin

Your VIP level increases by holding a certain KCS or trading over a certain amount of BTCs. There are 12 different VIP levels; however, most people would only reach the first five levels. You will enjoy free makers and only 0.07% takers if your VIP level reaches five or beyond. Nevertheless, you should have at least 40000 KCS (about $480,000 in Sep 2021) or have traded over 2000BTCs during the last month.

Transaction fees recap

KuCoin transaction fees are higher than most exchange platforms; however, KuCoin does not require ID verification. Calculating your fees is more accessible when the rates are flat. Nevertheless, we have to compare KuCoin to other applications to see whether it is suitable for you.

KuCoin alternatives:  What are the best crypto exchange apps in 2021?

With the unprecedented growth of crypto-asset investments, numerous exchange applications have started up during the last couple of years. We have examined six other top cryptocurrency exchange tools at Cyberg, which we briefly introduce as a part of the KuCoin Review to give information on the best competitors in the crypto exchange category.

Binance:

Binance is the most prominent exchange application throughout all available cryptocurrency exchange platforms. It supports most coins and holds the most famous trade volume regarding each currency. Binance offers many professional tools, and that explains why they charge more than KuCoin. However, I recommend you read our review on the most popular cryptocurrency application.

Coinbase:

Coinbase is a secure platform for buying and selling currencies like Bitcoin, Etherium, and other currencies. Binance is the number one in terms of trade volume by far. However, Coinbase offers a wide range of educational material and highly secure trading options. In addition, it is approved by US regulations, as opposed to KuCoin. It is also worth noting that KuCoin has a lower transaction fee compared to Coinbase in general. Read the Coinbase Review for more information on the application.

Kraken:

Kraken is one of the most popular cryptocurrency exchange applications available on PC and smartphones. While US regulations approve Kraken, KuCoin offers more sets of coins and more sophisticated bot assistance. Check out our Kraken Review for more information on the app.

FTX :

This bank and exchange agency also provides support for different virtual currencies. The transaction fees are much cheaper than FTX; however, users find FTX easier to use and more user-friendly. Further, both KuCoin and FTX have their exclusive token, saving you some transaction costs if you hold some in your crypto portfolio. Read our FTX review to find out more about the program.

Huobi Global:

Huobi Global is a Chinese company that allows cryptocurrency exchange. The app is a serious rival to Kraken in terms of transaction fees and supported altcoins. Huobi global supports more coin markets; however, the average transaction fees are ten times more than Kraken.

Bitfinex:

Bitfinex is based in Hong Kong and offers cryptocurrency exchange to over a hundred different nations. Thus, they are almost the same in terms of international coverage. Bitfinex has higher transaction fees but lower withdrawal fees. In return, it supports a wide variety of coins.

Comparison results

KuCoin is a safe and secure trading platform for futuristic and conservative investors. The user experience provides both advanced and simplified views. The number of tokens available is not as diverse as in Binance, yet they offer an appropriate number of coins and tokens to users. The transaction fees are higher than average; however, it is easy to calculate the amount. Generally, the app is one of the best trade platforms, given that hundreds of million users are using it every day.

KuCoin Review Conclusion

Now that we have thoroughly investigated the quirks and features of the KuCoin crypto exchange application let’s highlight the advantages and setbacks before passing our final judgment on the app.

Positive points of KuCoin

Different charts and infographics for beginners and experts

Ample training and educational resources

Acceptable number of coins and trades

Futures, margin trades and trading bot available

KCS token

Opposing points of using KuCoin

Relatively high transaction fee

US regulations do not approve it

KuCoin in a nutshell

The crypto market has been blooming throughout the last decade; thus, many exchange applications have come into existence. KuCoin was founded in 2017 and has proven to be a trusted platform for exchanging your digital assets, such as cryptocurrencies and NFTs. More features are being added to the platform, still what KuCoin offers today has made it the chosen application for millions of people worldwide.

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