About Kucoin Exchange
Kucoin Exchange Founded by a group of blockchain enthusiasts who had proved themselves in industry giants like Ant Financial and GF Securities, Kucoin aims at providing users digital asset transaction and exchange services which are even more safe and convenient, integrating premium assets worldwide, and constructing state of the art transaction platform.
KuCoin is a cryptocurrency exchange based in Hong Kong. It operates on a crypto-to-crypto basis, so no fiat currencies are supported. Nonetheless, its digital assets portfolio is pretty extensive and besides, KuCoin offers its own token KCS (KuCoin Shares) and uses it in a similar way to Binance.
Back in 2011, the KuCoin exchange founders started researching blockchain tech and went further to build the technical architecture for KuCoin in 2013. 4 years later, the exchange launched with the ultimate goal of “becoming one of the top 10 worldwide hottest exchange platform[s]” by 2019. In this short time period, KuCoin managed to work its way up from an obscure exchange to a spot as the 18th largest exchange by 24-hour trading volume.
Cryptocurrency is moving so fast that it can seem challenging to keep up with, but let me tell you that what is happening right now is absolutely fascinating and is changing the landscape of what cryptocurrency is, and what this means for the future of global finance.
Kucoin Review Summary:
|Trading Volume||$280 Million USD (24h)|
|Fiat Support||Kucoin doesn’t support any fiat currency, Kucoin only support trading between cryptocurrencies with no fiat involved.|
|Supported Cryptocurrencies||Here is the list of supported cryptocurrencies by Kucoin: Bitcoin, Kucoin Shares, RaiBlocks, Aigang, Red Pulse, EthLend, AChain, CanYa, DeepBrain Chain, Qlink, Dent, Pura, Po.et, UTRUST, Solaris, Dash, Oyster Pearl, TrueFlip, Aion, Revain, LAToken, Bitcoin Cash, Change, Bitcoin God, Modum, Publica, Populous, Quantstamp, SONM, Asch, Bouty0x, Dragonchain, Nuls, ClearPoll, Power Ledger, Snovio, DeepOnion, Ethereum Classic, Ambrosus, NEO, Stox, Elixir, Flixxo, Genesis Vision, Bitcoin Diamond, Confido, Ethereum, NeoGas, Horizon State, Raiden Network, Substratum, Unikoin Gold, Walton, Neblio, RChain, VeChain, USDT, Bitcoin Gold, Digibyte, Everex, Hshare, Kyber Network, Litecoin, Monetha, OmiseGo, Request, BlockMason, Qtum, Bytom, Civic, Ethereum Fog, TenXPay, EOS, Status, Black Hole Coin.|
|Account Funding||Any one of the 75 supported cryptocurrencies|
|Trading Fees||0.1% trading fee on all tradable pairs|
|Alexa Ranking||Kucoin is one of the world’s most popular website
|Visit Kucoin||Click Here For Visit|
How To Create Kucoin Account
You can create an account at Kucoin.com in just a few seconds, just type in your email, type a new password, you’ll receive an email that ask you to confirm your account, click on the link to verify your account and that’s it, your account is verified and you’re good to go.
Kucoin is available in all countries of the world.
The founding team of Kucoin Blockchain Asset Exchange Platform has carried out in-depth research on blockchain technology as early as in 2011 and achieved the technical architecture of Kucoin exchange platform in 2013. The Kucoin team has officially entered the blockchain asset trading service platform in 2017 with the most reliable and extended technical architecture, superior service and better operation strategies to better serve blockchain asset transaction.
Kucoin has an easy to use interface
While the benefits of Kucoin might seem to benefit someone with a more advanced understanding of cryptocurrency – the opposite is true!
The interface is simple, clean, and easy to use.
Honestly, Kucoin offer one of the nicest and most seamless trading experiences I’ve had yet. A bit different to, but on par with Binance.
Kucoin offers a very competitive trading fee of just 0.1% on all trading pairs. If you are a day trader, you will appretiate the low fees, because now you can swing trade without fear of your profits being taken by the trading fees.
The best part about Kucoin is that 90% of the fees will return to the users themselves and only 10% will go to the exchange, that’s why they advertise Kucoin as being the people’s exchange. The 90% of the fees that Kucoin collect will get distributed among users who hold KCS (Kucoin Shares) and users who refer their friends.
World Best Popular Cryptocurrencies Offered
Although it was launched in mid-Septemner 2017, KuCoin already offers a substantial number of coins for trade (around 80), and keeps adding new ones. On their website, pairs are grouped into 5 categories: BTC, ETH, NEO, USDT and KCS markets. It was even the first exchange to launch trading in the RedPulse token (RPX).
To date (late November, 2017), the most traded pairs on KuCoin are: RPX/BTC,NEO/BTC, ETH/BTC, and KCS/BTC.
Good platform with advanced charting
KuCoin’s has developed a web-based trading platform with nice design that has some advanced charting with technical indicators, powered by TradingView. Besides, mobile apps for Android and iOS are coming soon, currently available in beta version. Here is a snapshot of KuCoin’s platform:
In addition, withdrawal fees applied by KuCoin are also reasonable. For example, Bitcoin withdrawals are charged with a fee of 0.0005 BTC. Here you can find the complete information about withdrawal charges:
Although KuCoin is a newly-launched exchange, it seems that it doesn’t have issues with liquidity, at least regarding popular cryptocurrencies.
KuCoin offers a bunch of promotions: a referral program, top traders bonus promotion, and discount options for those holding its KCS token. Here is how the latter works:You get up to 30% discount on trading fees when you use their KuCoin Shares.
Does not support traditional fiat currencies
On KuCoin’s exchange you cannot exchange your dollars for Bitcon, or vice versa. Supporting fiat currencies is an advantage, especially for beginners, who don’t have any coins yet. Accordingly, the only payment methods accepted by the exchange, are blockchain transfers. Those who’d rather use their bank accounts or proceed payments with credit cards, may check out some exchanges which offers such options.
Servers reportedly crashing
There have been a few reports online that Kucoin has had a hard time handling the new amount of volume it’s been given.
But let it be stated that my experience setting up a few different accounts was 100% smooth.
Kucoin are actively investing in improving the user experience and their servers.
Not regulated, not much info about the company
Unsurprisingly, KuCoin is not a regulated exchange. As most of you probably know, very few exchanges operate with some sort of licenses, as most countries have not developed relevant legislation regarding such service providers yet.
On KuCoin`s website, one can take a look at a bunch of pictures of the exchange’s team members, but actually there is no information about the company owning the site and the brand.
No margin trading
Unlike some cryptocurrency exchanges, like Kraken, Quoinex and others, KuCoindoes not provide margin trading. So, if you want to gear-up your trading, you may either choose another exchange, or try out trading cryptocurrencies with a forex broker. Most of them offer higher levels than crypto-exchanges.
High fees for certain coins
While Kucoin offers reasonable rates and fees for trading some cryptocurrencies, others are insanely expensive.
Granted, We understand that with such a generous payout system Kucoin needs to profit somehow, and it ultimately helps drive people to use KCS, but it’s not going to make everyone happy.
According to available information, it does not appear that Kucoin has been hacked or breached in any way.
The only issue that has been occurring recently and several customers are reporting great difficulties in making withdrawals of fear him, to which the site has responded on its official Twitter page. The issue only seems to be affecting some customers and not all.
Here is the official statement from Kucoin regarding the withdrawal issues:
As we mentioned in our Cryptopia review, customer support is often a sore point for users of cryptocurrency exchanges. Kucoin seems to be fighting against that notion, however, and is apparently quite famous for their fast 24-hour service and quick response times to customer support inquiries.
The company operates a well-attended Telegram chat where users can typically get responses in minutes instead of in days or weeks, if ever, as is the normal case for some other exchanges.
KuCoin Team Basic Information
As stated on their official website which lists 12 core members, “Kucoin aims at providing users digital asset transaction and exchange services which are even more safe and convenient, integrating premium assets worldwide, and constructing state of the art transaction platform”.
CEO and founder, Michael Gam, is a former technical expert at Ant Financial, an affiliate company of the Chinese Alibaba Group. He was also a senior partner at Internet giants like MikeCRM and KF5.COM.
COO, Eric Don, is referred to as a “senior Internet researcher, systems architect, and Internet industry star”. He is also stated to be the CTO and senior partner of IT companies including YOULIN.COM, KITEME, and REINOT. However, it’s unclear if these websites actually exist as they did not show in a Google search or when entering the website domains. According to his LinkedIn, he is currently CTO at Youlin Network Technologies, yet there is no mention of KITEME or REINOT.
The writer acknowledges there may be some limitations in researching the backgrounds of many of these founders/team members due to language barriers. However if the team members are who they say they are, they bring years of experience from renowned companies such as $18.4 billion dollar investment firm GF Securities and mobile payment solution and service provider iBoxPay.
While not perfect, Kucoin seems to have an active and supportive customer support team, comparatively low fees, and a reasonable amount of asset pairs. Traders interested in NEO will likely find the NEO specific advantages offered by Kucoin to be valuable.
For those traders who want to deal in thousands of assets, Cryptopia or another exchange with a broader asset selection might be a better choice.