KuCoin is a relatively new cryptocurrency exchange that has quickly developed a fervent fan base thanks to its intuitive design and high level of security. The exchange is based in Hong Kong but it has a number of international investors, which helps position it as a truly international organization. It’s sometimes referred to as “The People’s Exchange”.
By: Arthur Crowson | Jan 16, 2020 | Modified Jun 1, 2020
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Being a crypto-only exchange, the sign-up process at KuCoin is extremely simple. Here is all of the information that is required to make a new account:
Seriously, that’s it. Once you provide KuCoin with your email address or phone number, you will then be asked to input a verification code that was sent to you. After that, you’ll be ready to start trading.
There are over 100 cryptocurrencies available for trade on KuCoin. Here are some of the most popular crypto assets that can be purchased on the KuCoin platform:
In addition to offering the ability to trade on all major desktop operating systems (MacOS, Windows and Linux), KuCoin also has apps available on both the Android and iOS app stores. KuCoin also has an internal risk department that investigates any potential shady business on the site.
Yes. KuCoin is considered one of the safest cryptocurrency exchanges thanks to its stellar reputation over the years and its high volume of trades. The site also offers two-factor authentication for its users. To date the site has never been hacked, which is a stark contrast to some of the competing exchanges. It’s worth noting that because KuCoin is crypto-only it has slightly differently security protocols than sites that except fiat (paper) currency.
Customer support is also quite strong on KuCoin and you can always send concerns directly to the staff.
Keep in mind that it’s generally not a good idea to keep large amounts of cryptocurrency on an exchange as several high-profile exchanges have been hacked in the past. If you have a large amount of cryptocurrency we recommend getting a personal crypto wallet.
While all KuCoin markets have a 0.1% trading fee, users are able to receive a discounted rate by holding KuCoin Shares. Users receive a 1% discount on fees for every 1,000 KuCoin Shares they hold. There is a maximum trading fee discount of 30%.
KuCoin has a number of features and programs that it uses to set itself apart from some of the other, similarly-sized exchanges on the market.
In terms of bonuses, KuCoin regularly runs trading competitions allow the top traders to earn even more. Many of these competitions give out rewards to the top 50 users in terms of the trading volume around a particular crypto asset.
Another unique aspect of KuCoin comes in the form of higher security found via the Arwen protocol. This platform uses technology somewhat similar to Bitcoin’s Lightning Network, which allows users to remain in complete control of their funds instead of having to trust the exchange with cryptocurrency holdings.
KuCoin’s referral program allows users to profit from getting other people to sign up for an account at the exchange. When a user invites someone to the exchange, that initial user will receive up to 20% of the trading fees incurred by the invited user for the first year of their time on the platform.
KuCoin launched for trading in September 2017, not long after their initial coin offering was completed.
There are no sign-up bonuses available for new KuCoin users, but anyone who holds KuCoin Shares is able to gain a discount on their trading fees.
The KuCoin Dividend System allows KuCoin Shares holders to profit as the KuCoin exchange grows in popularity. 50% of all trading fees collected by KuCoin are evenly distributed to KuCoin Shares holders based on how much of the token the user holds.
KuCoin Shares are a token created by KuCoin in an initial coin offering. The coin offers a number of benefits to its holders in the form of dividends and discounts. Holders of KuCoin Shares get a 1% discount on trading fees for every 1,000 coins they hold. Additionally, 50% of all KuCoin trading fees are distributed to KuCoin Shares holders.
KuCoin runs a large number of promotion because they need to gain market share. Because they launched in late 2017, KuCoin is relatively late to the cryptocurrency exchange market. Obviously, liquidity is a key feature of any exchange, so KuCoin is attempting to attract more money to the platform.
KuCoin may not be the best option for cryptocurrency newbies due to the lack of fiat funding options and large variety of trading pairs on the platform. Having said that, KuCoin’s customer support is willing to do a lot of hand holding for those who are new to the cryptocurrency space.
Yes, NEO is available for trade on KuCoin.
Yes, KuCoin’s lack of fiat funding options makes it available in nearly every country around the world, including Canada.
No, KuCoin has never been hacked. In fact, users who take advantage of KuCoin’s Arwen integration are able to take care of the security of their funds on their own rather than handing them over to KuCoin.
While KuCoin has not had any serious security incidents up to this point, it should be remembered that this a relatively new exchange, which means it does not necessarily have a long track record when it comes to security.