KuCoin Review 2021 – Is It Safe To Trade On KuCoin Exchange?

★★★★★
★★★★★

Rating: 82%

100x Leverage

Fees:
Deposit Methods:
Taker:
0.06%
Maker:
0.02%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 82%

100x Leverage

Fees:
Taker:
0.06%
Maker:
0.02%
Deposit Methods:
Wire:
Credit:
Crypto:
Is It safe?

Exchange Pros

  1. 200+ crypto assets to choose from
  2. Beginner friendly
  3. 100X leverage on its Futures account
  4. Direct purchase of crypto using credit/debit cards
  5. Custom made mobile app for trading on the go.

Exchange Cons

  1. Does not support U.S resident
  2. No fiat-to-crypto trading pair
  3. Offers only USDT Futures account
  4. Sometimes experiences low liquidity on low cap cryptos

Launched in August 2017, KuCoin is one of the oldest and most versatile crypto exchanges in the world. This crypto exchange has had years of experience to grow, evolve and perfect its services and trading platform for all kinds of crypto traders.

In this KuCoin review, we will be taking an in-depth look at the inner workings of the KuCoin trading platform, its strengths, weaknesses, and the trading bonuses and discounts you can get for signing up to the platform with our KuCoin Link.

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Overview Of KuCoin

KuCoin Review
KuCoin Review 2021 – Is It Safe To Trade On KuCoin Exchange?

Popularly referred to as “The Peoples’ Exchange” KuCoin stands out from the crowd by offering a wide range of crypto assets and services to its clients. This list of services on the platform keeps growing year by year making the KuCoin trading platform one of the most innovative exchanges in the world.

Related Article: How To Trade Bitcoin With Leverage

Is KuCoin Safe?

KuCoin has had years of experience to beef up its platform’s security and it has done just that. The company boasts of implementing some of the most sophisticated blockchain technologies and features that ensure their client’s information, funds, and trading activities are kept secured. Some of these security features include:

  1. Offline Crypto Vaults:

KuCoin makes use of multi-signature offline crypto wallets for storing the bulk of its client’s funds. This removes the risk of cyber hacks and gives users that extra layer of protection on the platform.

  1. 2FA Authentications:

The 2FA authentication is a security feature available to all KuCoin clients. With this authentication set, you get alerts and email confirmations when someone logs in, deposits, or tries to withdraw from your KuCoin account.

  1. KYC for High Daily Withdrawal:

For added security, KuCoin has also implemented a maximum withdrawal limit for its accounts at various stages of its verification.

  • Unverified Account: As a maximum withdrawal of up to 2 BTC per 24 hours. All you need is to confirm the withdrawal via your registered email.
  • Verified Individual Account: At this stage, you have a maximum withdrawal limit of up to 100 BTC per 24 hours. You need to submit identification documents to get to this stage.
  • Verified Institutional Account: With this type of account, you get a maximum daily withdrawal of 500 BTC. You need to sign up as a registered company to get access to these kinds of accounts.
  1. Web Security:

KuCoin also implements some of the latest cutting-edge technologies in web development and site management. This ensures the KuCoin website is always protected from DDOS attacks.

Why Choose KuCoin?

Kucoin Review 2021 – Is It Safe To Trade On Kucoin Exchange?
KuCoin Review 2021 – Is It Safe To Trade On KuCoin Exchange?

In this section of the KuCoin review, we will be talking about the platform’s key features, strengths, and what makes them stand out from the rest of the competition in this crypto industry.

1) Trade 200+ Cryptocurrencies:

KuCoin offers its users the ability to buy, store or trade over 200+ cryptocurrencies on its platform. This vast amount of cryptocurrency selection makes this platform a gem for crypto traders and hodlers looking to trade or invest in small cap coins.

KuCoin currently offers trading in assets from over 400 markets, making portfolio diversification very easy for the average investor.

2) Buy/Exchange Fiat To Crypto:

You can directly buy cryptocurrencies with your credit or debit card on the KuCoin website. This makes it very easy for new traders to fund their accounts and get started.

KuCoin also offers a very vibrant P2P market space for conversions. This community is filled with crypto traders and exchangers looking to make fast crypto to fiat conversions with one another. Currencies accepted include USD, EUR, CNY, GBP, CAD, AUD, and many more.

3) Margin Trading:

KuCoin added its Margin trading service to its platform in November 2019. This service allows traders to trade borrowed capital. The funds are provided by other users on KuCoin allowing margin traders leverage into positions. This trading method can be used for both long and short positions.

Using “borrowed” funds can increase profit, but on the flip side can also result in larger losses than the initial investment made. 

As of the time of writing this review, you can only trade 15 cryptocurrencies on the KuCoin margin account with up to 10x leverage. 

4) Futures Trading:

Trade the cryptocurrencies of your choice on the KuCoin exchange with leverage as high as x100. The platform only charges a 0.1% fee per trade, making their fees one of the most competitive in the crypto market.

However, KuCoin does not offer Fiat-to-Crypto trading. You can only trade crypto-to-crypto but they do offer the USDT stable coin. This stable coin is pegged to the U.S dollars.

5) Crypto to Crypto Instant Exchange:

Are you looking to Hodl cryptocurrencies for the long term? Well, KuCoin makes it very easy for you to do this with their Instant Exchange Tool. With this tool, you can easily convert your existing crypto balance from one currency to another.

This feature works well for beginners looking to gain exposure to certain currencies in the crypto market without necessarily trading them.

6) Crypto Lending:

Another way to make money on the KuCoin platform is through crypto lending. In this scenario you act like the Bank, lending your crypto to traders who want to do margin trading. In return, you get an average daily interest rate of 0.124%.

7) Free KuCoin Trading Bot:

KuCoin offers its users the ability to make use of its free trading bot. This bot takes instructions from you on what types of trades to make and then executes those trades automatically.

You can also copy the configuration of other successful bots created by traders on the platform. This way you can start making outstanding returns with little knowledge of the crypto market.

Related Article: Bitcoin 101. All You Need To Know To Navigate The Crypto Market

KuCoin Review On Liquidity

With over 5 million users from over 200 countries and regions, KuCoin stands strong as one of the top 40 biggest brokers/exchanges in the world. The sheer size of the company makes any liquidity issues absent. However, we have seen users complain of low liquidity in the smaller cap cryptocurrencies and newly listed gems. But even these liquidy scrunches seldom happen.

KuCoin 50% Bonus

Kucoin Review on 50% bonus
KuCoin 50% Bonus

The KuCoin trading platform has its own coin/share called KuCoin Share. You can easily buy, swap your crypto to and earn the KuCoin coin easily on the platform.

By holding this share you receive a daily Bonus/dividend called KuCoin Bonus. The Bonus you receive is 50% of all trading fees generated by traders on the platform. If the volume & amount of coins traded increases, the bonus of holding the Shares will increase as well.

Trading Fees and Discounts

KuCoin offers various discounts when it comes to their trading fees. These discounts are all affected by the volume of trades you take per month.

VIP levelMaker/TakerLast 30-Day Trade Volume (BTC)
10.09%/0.1%≥50
20.07%/0.09%≥200
30.05%/0.08%≥500
40.03%/0.07%≥1000

These fees continue to decrease as your trading volume rises. To qualify for this 50% bonus or any of these discounts, you need to sign-up using our KuCoin Link.

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Traders In The United States

It is important to note that KuCoin does not support U.S traders due to the strict laws governing crypto trading in the country.

How To Open An Account

Kucoin Review on account creation
Steps you need to take to open a KuCoin trading account

The sign-up process is very straightforward, KuCoin does not require you to submit any documents or undergo any verifications before owning an account.

Follow the detailed steps below as a guide to opening your own KuCoin account.

  1. For code verifications, you need either an email address or a valid mobile number
  2. Next, click on our KuCoin Link to sign-up (This would automatically input our Referral code in the space provided, qualifying you for all the platforms bonuses and discounts)
  3. Input your email/phone number, the verification sent to you, and a strong password you can easily remember.
  4. Click on the “Sign Up” button.

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KuCoin First Login

KuCoin Review on Login
KuCoin initial deposit prompt

Once you complete your sign-up process, KuCoin logs you in automatically and redirects you to the Homepage. From here you can already see the options to either buy cryptocurrencies directly on the platform or send them from your wallet.

This makes it very easy for you to set up, fund your account and start trading immediately with no delay.

Deposit Method

The KuCoin platform with cooperation with Simplex makes it possible for KuCoin-users to purchase Bitcoin, Ethereum, Litecoin, and Ripple directly on the KuCoin platform with their debit or credit card.

This deposit method is however not possible for countries on Sanctions lists such as Iraq, North Korea, Syria, Afghanistan, and Lybia.

Deposit and Withdrawal Fees

KuCoin does not charge any deposit fee. However, if you purchase your cryptocurrency using simplex, then you will be charged a 3.5% fee by simplex for every purchase.

For withdrawals, KuCoin charges around 0.0005 BTC when you withdraw BTC. This is also a bit below the current global industry average, being 0.000643 BTC per BTC-withdrawal when compared with other major crypto exchanges. 

Setting Up Your Trading Account

KuCoin Review on trading account
Steps to setting up your KuCoin leveraged trading account

KuCoin offers its clients various types of markets to trade cryptocurrencies on, the big question now is which one do you go for? In this KuCoin review, we will be talking about the KuCoin Futures Pro trading platform.

In this Futures Pro market, you get a trading account with leverage as high as x100 to buy and sell cryptocurrencies of your choice.

Demo Trading On KuCoin

As at the time of writing this KuCoin review, the platform does not support the trading of a demo account. So to trade on the KuCoin platform, you need to create an account and fund it first.

However, there is no minimum deposit on the platform, so traders can fund their KuCoin account with as little as possible just to test the crypto exchange. Click the link below to start your journey.

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KuCoin Review On The Futures Pro Trading Interface

Kucoin Review On The Futures
The KuCoin web based Futures pro trading interface

Once you log in and click on the Futures Pro button, you get redirected to the KuCoin Futures trading interface. On this page you can place your trades, close running positions, monitor your margin, leverage, order flow, and the price action of any cryptocurrency of your choice.

There are also different chart types, indicators, and time frames available to users to choose from for carrying out their technical analysis and monitoring an asset price. 

Funding Your Futures Trading Account

Kucoin Review On The Futures funding
Funding your futures pro trading account directly from the trading interface

If you already have crypto funds in one of your KuCoin wallets, you can easily transfer the funds from that wallet to your futures wallet and have them reflected on your futures trading interface within seconds. You can also make a direct crypto purchase from here using your debit/credit card.

Note: You can only fund your Futures trading account in USDT.

Leverage Trading On KuCoin

The KuCoin futures pro trading interface has various sections displaying different pieces of information. From here, you can actively manage and monitor your trades.

How Does The x100 Leverage Work On KuCoin?

Margin trading simply means that you can increase your purchasing power and exposure to the market while trading with little funds. The added funds/leverage you get to make bigger bets is given to you by the exchange.

So for a 1:100 leverage, every 1 BTC you have is transformed into 100 BTC thereby increasing your purchasing power. In other words, you will be able to open positions worth much more than the funds you hold on Margex.

However, while high leverage can potentially help you make more money from trading, it can also increase your losses. Therefore, it is important that you take the required time needed to understand how leverage works. Make sure to learn how to trade Bitcoin before touching leverage trading.

How To Adjust Your Leverage

Kucoin Review On leverage trading
How to manually adjust your leverage on KuCoin futures trading account

The KuCoin Futures platform allows users to manually adjust the leverage for each contract. To adjust the Futures leverage, go to the order entry field and adjusting the slider, or by type in the leverage you wish to use and then click on Confirm.

Placing Your First Trade On KuCoin

No matter the kind of trader you are, KuCoin offers you a platform that is easy to use, fast, secured, and cost-effective. With this platform, you can properly diversify your crypto portfolio, trade very high volumes, scalp, hedge and carry out algorithmic trading on the platform all at once.

In this section, we will be guiding you on how to place your first trade, how to manage it, and how to book your profit at the end.

Picking Your Currency Of Choice

Kucoin Review on trading interface
How to change what currency you are watching or analyzing on your KuCoin trading interface

KuCoin supports the trading of over 200+ cryptocurrencies on its futures pro trading platform. To select the currency of choice, click on the button signified above and then select your cryptocurrency choice from the list

Kucoin exchange leverage trading interface
How to change what currency you are watching or analyzing on your KuCoin trading interface

Once you pick your currency, other sections on the trading interface will all update automatically to display information pertaining to the crypto coin you wish to trade.

Technical Analysis

Kucoin exchange technical analysis
Carrying out technical analysis on KuCoin

Before placing a trade, you need to carry out an extensive analysis of the currency you wish to trade. KuCoin offers traders a very intuitive and easy-to-use charting software.

KuCoin default trading chart looks like any other chart you would expect on an exchange trading platform. It is slick, easy to navigate, and user-friendly. The chart also has numerous options available to the user for customizing and personalizing the look and feel of the chart.

  • The platform comes with numerous built-in indicators and charting analysis tools users can utilize to carry out an in-depth technical analysis before taking a position.
  • You can easily create and import your own custom tools, indicators, and EA on the platform
  • Export and analyze your trading history with ease

KuCoin Review On Order Types

Kucoin Review On Order Types
Available order types on KuCoin

For Market Orders: KuCoin offers users one of the most advanced crypto trading platforms in the industry.

The platform’s trading engine can handle over 100k high-speed transactions per second (TPS), this ensures the PrimeXBT trading platform does not lag, and all orders are executed very fast.

For Limit Orders: KuCoin offers users the flexibility to use pending orders to preset their entry price and exit levels in anticipation of a big move in the market.

For Conditional Orders: KuCoin offers users the option to make use of various advanced conditional order types on its platform. Entering and exiting the market once certain predefined conditions are met.

KuCoin Order Book

Kucoin Review On Order book
The KuCoin order book

Once you advance in your trading skills, the order book is a brilliant tool that can come in handy to help you better define your edge in the crypto market.

This order book monitors the order flow in the market, you can easily see the current Buy (ask) and Sell (bid) Limit orders of market participants. 

KuCoin Review On Position Management

Once you pick the cryptocurrency of your choice, carried out your technical analysis, set your leverage, order type, and your order size, you can then place the trade and monitor your open position from the order management pane at the bottom of the KuCoin trading interface.

Kucoin Review On Position Management

How To Close Your Position

You can always close your running positions on KuCoin easily by either using a market or a limit order. For the market order, your position is closed instantly once your trade request goes through. Simply click on the “close” button in front of the order in the position management pane.

For a limit close order, you will need to input a stop loss and take profit order. These are “conditional orders that get triggered once the price gets to that region.

KuCoin Advanced Order Types

Yes KuCoin also offers its users access to make use of Advanced order types on its platform to better manage their running positions.

  • Good-Till-Cancelled (GTC): This is an order that will remain open until you actively close the open order.
  • Immediate-or-Cancel (IOC):: This order is designed to be filled instantly and at the best price. If any part of the order remains unfilled then the remainder will be cancelled. This order type allows for partial order execution.
  • Fill or Kill (FOK): Finally, the FOK order is designed to be filled entirely and at the best price or not at all. This is very similar to the IOC order with the exception that it does not allow partial orders to be executed.

On top of this, you can also choose how such orders are executed. For instance, with your Limit and Conditional order, you’re able to choose the “Post Only” option. This will ensure that when the order is executed, it will be done as a “market maker” and you will benefit from the maker fee.

KuCoin Review On Mobile App

The KuCoin crypto exchange also offers its users the ability to trade through their mobile phones while on the go., The KuCoin mobile app is available for free on the Google Play store and the App Store. This app allows users to carry out a wide range of activities including:

  • Opening a new account
  • Trading over 200+ crypto assets while on the go
  • Carry out technical analysis using various inbuilt chatting tools.
  • Trading on 6 different timeframes and using 3 different chart types.
  • An easy-to-understand and navigate interface.

KuCoin Review On Customer Support-24/7

The customer support team at KuCoin is fast and very experienced at what it does. You can expect to get your issues resolved in a very timely manner 24/7. There is also a FAQ section on the website filled with guides and helpful articles.

You also have the feature of live chatting on the KuCoin platform. The live chat method is the fastest way to ask for help and get your questions solved.

Conclusion

The KuCoin trading platform is without doubt one of the best crypto trading platform in the industry. The innovations, large selection of trading products, low fees, and speed have set it miles apart from its competitors.

Not only that, KuCoin has over the years demonstrated that it is security conscious and will always put the needs of its clients before its own.

If you are still looking for a crypto trading platform to trade with, then this is the platform for you.

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Other Bitcoin Exchanges

If KuCoin does not tick all the boxes for you, there are several other crypto exchanges that could be of interest. Make sure to read our list of the best Bitcoin margin exchanges in the world.