KuCoin Cryptocurrency Exchange Review

Exchanges
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KuCoin History

KuCoin is a cryptocurrency exchange from Hong Kong, which allows you to conduct various transactions with digital currencies, trade more than 300 pairs and exchange some crypto-assets for others. And all this in one full-featured platform, the services of which are available to users from all over the world. KuCoin is a relatively young representative of the cryptocurrency market: the exchange started operating in 2017.

The model for the creation of a new trading platform was the exchange of the first magnitude – Binance, which the creators of KuCoin are following. KuCoin has some similarities with its more famous “colleague”, and is trying to repeat its success story. KuCoin began as a small exchange service called Kubi, which gradually transformed into a full-fledged cryptocurrency exchange, now working on a global scale.

Registration on KuCoin

To create an account on the exchange KuCoin, you need to go to the official website and click on “Sign up”, where it is located, see the picture above. By the way, the site of the exchange KuCoin supports 11 languages, including Russian. After clicking on “Sign up”, you will see a window like this.

After filling the data in the window, you will receive an e-mail confirming your e-mail, and in order to confirm it you will need to follow the link indicated in the letter. If the letter does not come for a long time, then check your spam folder, maybe it was there.

Registering here is easy, we recommend that you get verified immediately afterwards, so as not to put it off for too long. To do this you will need:

  • Passport,
  • Driver’s license.

The document must be scanned on both sides and uploaded through a form. In addition, you also need to upload a selfie with the document open, next to the document you need to keep a sheet of paper with the date written on it. Do not do any manipulations with photos or scans of documents. There is no need to cut off unnecessary things in photo editors, correct color, etc. The verification is not instantaneous. If you have any questions, you can clarify them with the technical support. There is a small help section on the official site, but there is no information on verification.

My Account on KuCoin

In the personal account of KuCoin Exchange, all the standard sections are presented without exception:

  • Markets – in the markets window, you will look at the trading floor;
  • Assets – here, you can see all available balances on accounts;
  • Settings – in the settings, you can always configure the account security.

But among them, there is a section that can not often be found on other exchanges – this section is “Voting” for coins. In this section, you will be able to leave your vote for a coin that is not yet on the platform, but you would like to see it there. In order to have the right to vote, you must have the tokens of the Kukoin Exchange – KCS on your balance.

Let’s take a closer look at the Markets tab. Here you can configure the parameters for selecting the cryptocurrencies that you need to participate in trading. In this window, you will be able to make a quick trade, to do this, click on “Buy” or “Sell” and enter the price at which to buy the asset, and how much of the asset you will need to buy or sell. To confirm the trade on KuCoin, you will need to specify a two-step authentication code.

Depositing Funds

On the main page, click on the “Assets” tab. The following window opens, in which you need to select a coin, which you will enter into the exchange. Next to the selected coin, click on “Deposit”.

KuCoin accepts ONLY cryptocurrency for deposit. You will not be able to enter fiat (state currency of any country – dollars, rubles). If you do not have cryptocurrency, you can use exchanger or any other exchange, accepting the input of fiat. After that, you will be able to enter cryptocurrency to KuCoin exchange. Read more about the first purchase of cryptocurrency on our website (how to buy Bitcoin paste).

The following window opens, in which you need to confirm that you know that only the coin for which it was created can be entered into this wallet on the exchange. After confirmation the link to the wallet of the coin, generated especially for you, opens. You fill in the form and wait for the coins to come from the wallet specified for withdrawal of funds.

Withdrawing Funds

To withdraw funds from the KuCoin exchanger you have to click on “Withdrawal of funds” in front of the coin you want to withdraw. Then the following form will open, in which you must specify the address of the wallet for withdrawal, as well as go through all the security checks that you have set.

The fee is deducted from the balance you withdraw. The funds will be transferred to your account with the commission deducted. This amount will have to count for yourself: KuCoin exchange does not indicate the final withdrawal amount like many other cryptocurrency exchanges.

KuCoin Fee

For financial transactions, as well as for transactions, you will need to pay a certain percentage in favor of the platform. This platform offers quite pleasant prices – you definitely will not have to pay extra money. Compared to other top trading sites, KuCoin’s commissions are even slightly lower than the market average. You will not have to pay anything at all to deposit your balance.

To place a buy or sell order, you will have to pay 0.1% of the total transaction amount. There will be different fees for withdrawals, depending on what kind of coin you want to get: All other rates you can easily find in the “Fees” section if you go to this section on the main page on the resource (at the bottom of the site).

Pros
  • The amount of commission is quite small + for KSC coin holders there are discounts
  • High level of account protection (2fa, secret questions, login warnings)
  • Reliability of the platform (it has not been hacked since its existence, and has not been noticed in any major scandals)
  • Support of a large number of languages (including Russian)
  • Fast processing of transactions
  • Instant withdrawal of funds
  • Mobile applications
  • Quick technical support
Cons
  • No possibility to enter fiat funds, only cryptocurrency
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