I. What is KuCoin Exchange?
KuCoin is a well-known cryptocurrency trading platform billed as “The People’s Exchange.” It was founded in Hong Kong in 2017 with the goal of providing consumers all over the world with an easy and secure platform for trading a vast array of 700+ cryptocurrencies. It has undoubtedly had an influence on the global crypto community, expanding its user base to over 11 million in just 5 years and servicing one in every four crypto holders globally.
KuCoin is a major cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies. The platform provides margin, futures, and peer-to-peer (P2P) trading in addition to conventional trading choices. Users can also earn incentives by staking or lending their cryptocurrency. KuCoin has lower trading costs than other of its competitors, making it an appealing alternative.
KuCoin offers over 700 coins, all of which may be exchanged for a modest cost of 0.1%. When you pay using KCS currency, you get a 20% discount, and high-volume traders get even lower costs. KuCoin users will have access to a variety of trading options, including spot trading, margin trading, peer-to-peer trading, and futures trading. Another option available to users is crypto borrowing and lending.
Meta Lion Ventures proudly inform of the cooperation with KuCoin exchange. Based on this strategic partnership, Meta Lion Ventures can fully bring the sponsorship for all connected Crypto projects.
II. KuCoin Exchange Features
1. Fees
KuCoin’s trading costs are extremely low. Discounts are given to investors depending on their average monthly holdings of the platform’s native token, KCS, or their trading volume in the preceding month. They can reduce fees even more if they pay using KCS.
KuCoin, like other cryptocurrency exchanges, features a maker/taker fee structure, which means you pay varying costs based on whether your order is a maker or a taker. Makers add liquidity to exchange by placing fresh open orders that can be filled by others. Meanwhile, takers restrict liquidity by satisfying existing maker orders.
The level of maker/taker fees changes according to the trading level and coin “class” on KuCoin. Cryptocurrencies on exchanges are classified as follows: A, B, and C classes
- Class A includes the most popular cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH). The maker/taker range for trading a Class A coin and the basic level of Level 0 (LV0) is 0.1%/0.1%, respectively.
- Class B coins, such as Love Coin (LOVE), trade for a 0.2%/0.2% maker/taker fee for that low-volume level of LV0.
- Class C has very few coins mentioned, and the ones that are listed you’ve probably never heard of. Class C contains cryptos with market caps of less than $1 million, such as BURP and HIPUNKS.
You must pay a charge to withdraw practically all coins from your KuCoin account, as with other cryptocurrency exchanges. For example, the current charge for withdrawing Bitcoin from the site is 0.0005 BTC, which is about $10.12 at the time of writing.
The charge varies depending on the currency, so make sure to verify these before making your purchase if you intend to move your coins to another wallet or exchange.
2. Security
KuCoin has collaborated with Onchain Custodian, a Singapore-based crypto asset protection platform, to keep custody of KuCoin’s crypto assets. Furthermore, Lockton, a private insurance agency, backs such assets. The site provides basic security protections such as identity verification, password swapping, and anti-phishing phrases.
However, owing to their inability to complete KYC verification, US customers should be warned that their accounts may not be as safe as overseas ones. Unverified accounts do not have the same fraud and hacker protection as verified accounts.
3. Opening a KuCoin Account
It is quite simple to open a KuCoin account. Simply go to the KuCoin website, join up, and input your email address. KuCoin will email you a verification code, which you will enter to create your password. You may also register for KuCoin using your phone number.
Once you’ve completed the sign-up process, you’ll be able to configure your security settings. Identity verification for logging in or transactions, a trade password, and anti-phishing safety phrases are among them. Once your security settings are complete, you may begin trading cryptocurrency.
Customers in the United States cannot complete the KYC process or access verification benefits such as higher daily withdrawal limits, fiat trading, higher futures leverage, and faster account recovery if they forget their credentials or their account is hacked because KuCoin is not licensed in the United States.
4. Cryptocurrencies Available on KuCoin Exchange
The exchange currently has 736 coins and 1283 trade pairs available. KuCoin 24h volume is reported to be $571,083,359.25, a -12.76% decrease in the previous 24 hours. BTC/USDT is the most active trading pair, with a 24h volume of $146,025,124.92. Among the most popular coins are:
| Coin | Available on KuCoin Exchange |
| Bitcoin (BTC) | ✔ |
| Ethereum (ETH) | ✔ |
| XRP (XRP) | ✔ |
| Cardano (ADA) | ✔ |
| Solana (SOL) | ✔ |
| Dogecoin (DOGE) | ✔ |
| Polkadot (DOT) | ✔ |
| Polygon (MATIC) | ✔ |
| TRON (TRX) | ✔ |
III. KuCoin Exchange Reviews
KuCoin has grown to become one of the world’s largest cryptocurrency exchanges, largely thanks to the variety of products and services it provides. KuCoin offers a number of benefits that distinguish it from other exchanges; let’s have a look at some of the top features below:
1. Advantages
- Diverse features, even a lottery.
- Support for multiple languages and currencies.
- Perhaps because the popularity is not equal to the Binance exchange, this inadvertently creates the advantage of listing projects on the Kucoin exchange easier, from which users can trade more conveniently.
- Liquidity is always in the top 10 exchanges with the largest trading volume in 24 hours.
- Support trading by Bot with many strategies.
- The information about the exchange such as products, and transaction fees, … is neatly presented at the bottom of the homepage, helping you find information easily.
- The Staking feature that can be traded in Pool-X is an advantage that no exchange has yet.
- There are mobile apps on both iOS and Android.
2. Disadvantages
- Unable to customize the light/dark interface on the homepage. Each interface of different products will have different light / dark options which are quite annoying.
- Each time you withdraw money, users have to enter a lot of codes.
IV. How to register an account on KuCoin Exchange
1. Preparation before registering
Users need to prepare these pieces in advance according to the following list:
- Frequently used email address (or phone number).
- Photo of the ID card includes:
=> 1 photo of the front, 1 photo of the back, and 1 selfie photo with the front. You can use your Citizen ID card or Driving License.
- The phone comes with the Google Authenticator or Authy apps pre-installed.
2. Steps to register for a KuCoin account
Step 1: Sign up for a Kucoin account
To register for Kucoin exchange, please visit:
https://www.kucoin.com/ucenter/signup
- Click the “Sign Up” button on the right corner of the screen to register.
- Here you can register an account by phone number or Email. Then click “Send Code”.
- Register Kucoin with Phone Number
- The Kucoin exchange system will send a 6-digit code via text message or email, check and enter that code in the Verification Code box below to confirm. Note that the code will expire within 60 seconds, if the 60 seconds expire, you need to click Send Code for the exchange to resend the code.
- Then enter the password and referral code (if any) in turn. ⇒ Select “Sign Up” to complete the Kucoin account registration.
- Register Kucoin with an Email account
So you have completed the registration of Kucoin exchange and can start trading coins on the exchange.
Step 2: Identity Verification – KYC
To KYC your account on Kucoin exchange, you do the following steps:
- From the homepage interface, point to your personal account and select “KYC Verification”.
- Select “Start Verification” to begin the KYC process.
In this step, you must enter the following information:
-
- Country/Region of Residence: Country of residence or Region of residence.
- First Name
- Last Name
- Identity Document Type: Type of document for authentication, here I choose ID Card, ie People’s Identity (CCCD).
- ID Number: Enter the CCCD number.
- Then select “Submit”.
After submitting, you have completed KYC level 1 and received benefits such as:
- Withdraw up to 5 BTC per day.
- Trade Future with leverage up to 100x.
- Trading limit per day: 1,400 USDT.
However, if you have higher needs, you can continue the KYC level 2 steps according to the instructions below to get more benefits such as:
- Withdraw 200 BTC per day.
- Trade Future with leverage up to 100x.
- Trading limit per day: 70,000 USDT.
- Select “Continue to Get More Benefits”.
Next, you need to upload images including:
- Front + back of the document that you have provided ID above.
- A photo of a portrait of a brother holding that document together with a handwritten sample of paper with the content: Signature + Given code + Date.
Note: If you are not convenient to upload photos by computer, you can download the KuCoin App to scan the QR code next to it and complete KYC right on your phone: Download the KuCoin App.
Step 3: Activate 2FA security on Kucoin Exchange
The first thing you should do after registering an account is to activate the two-factor security code (2FA) for your Kucoin exchange account to increase security. This code will be used every time you log in to your account, withdraw money, create API, etc. and can freely switch to SMS verification mode (and reverse).
To enable 2FA for your Kucoin account, follow these steps:
- In the personal account section, select “Account Security”.
- Select “Set” in the Google Verification section.
- Select “Send Code” and enter the 6-digit code sent to Email or text message into the box next to it.
In this step, you can use Google Authenticator or Authy for security:
- Scan the QR code or enter the Keys to add a Kucoin security account on Google Authenticator/Authy.
- Enter the 6-digit code on Google Authenticator/Authy in the 2-FA Code box. This code is valid and changes every 30 seconds, so remember to enter the correct code.
- Click “Activate” to start security.
Note: You should save the text code (also known as Backup Keys) carefully on paper, in case you lose your phone or have problems later, you can still restore it and log in. Kucoin account.
At this time, the Google Verification item in the account will change to the Change state. Then, you have completed 2FA security activation with your Google Authenticator/Authy account.
Besides 2FA security with Google Authenticator or Authy, you can also increase the security of your Kucoin account, by activating some forms of security such as: Phone number (Email), Transaction password, and Denying other login IP,…
V. How to deposit, withdraw, and exchange crypto on KuCoin Exchange
1. How to deposit into KuCoin Exchange
- From the homepage of Kucoin exchange, you choose “Asset” → “Main Account (Deposit & Withdraw)” as shown below.
- If you want to send any coin, you just need to enter the token name in the search box.
- Enter “BTC” and select “Deposit”.
- The next thing you need to do is deposit Bitcoin (BTC) into the wallet address displayed.
Note: As the wallet address of any coin you just send that coin, avoid sending it to another coin.
2. How to withdraw from KuCoin Exchange
This withdrawal step is almost the same as depositing. But instead of “Deposit”, you choose “Withdraw”.
- You enter your wallet address in the “Wallet Address” and enter the amount to withdraw in the “Amount”.
- Finally, you choose “Withdraw”.
3. How to exchange crypto on KuCoin Exchange
To buy and sell coins, you choose “Market”.
Then there will be an interface that displays a lot of assets, you choose the property you want to trade by directly clicking on the property, or searching on the search box.
Or alternatively, you choose to go to “Trade” → “Spot Market” as shown below.
Below Meta Lion Ventures will guide you precisely about the trading interface:
[1]: Details of the order being placed, can be buy or sell.
[2]: Details of the order to active close. Use to take profit or cut loss
[3]: Order history
[4]: Transaction history
[5]: Switch between “Spot” and “Margin”
[6]: Example of a pending order to sell
[7]: Where to install buy/sell orders
[8]: Where to install the “Margin” command with the lever corresponding to the number x is written
[9]: Switch to the Futures interface
[10]: Switch to Bot Trading interface
[11]: Where the user chooses to pay transaction fees in KCS or not
[12]: Each transaction requires you to enter the transaction password
VI. How to trade on KuCoin Exchange
1. Margin Trading
You can trade Margin by going to the trading screen above and switching to item [8] to place an order.
Alternatively, go to “Trade” → “Margin Trading”. Then place the same order.
2. Bot Trading
You choose “Trade” → “Trading Bot”.
With bot trading, you need to choose a trading strategy that suits your needs, including:
- Spot Grid (or Grid Trading): A trading strategy based on price movement in a predefined grid pattern.
- DCA: Divide the investment capital into several parts in a fixed, regular way over a long period of time.
- Futures Grid: Grid Trading with leverage.
- Smart Rebalance.
In which, DCA, Future Grid, Smart Rebalance require you to download the Kucoin application to your device, and Spot Grid can immediately create a Bot on the homepage.
3. Future Trading
You can trade futures contracts by going to the trading screen above and switching to [9] to place an order.
Alternatively, go to “Derivatives”→ “Futures Lite” or “Futures Pro”. Both are similar in terms of features, only “Futures Lite” has a simpler interface.
You fill in the price, quantity, and desired leverage to trade. Then click “Buy/Long” or “Sell/Short” to complete the order.
VII. KuCoin Exchange App Download
KuCoin features an app for the mobile version, including iOS, Android, and Google Play.
VIII. FAQs about KuCoin Exchange
- What is the native token of KuCoin Exchange?
KuCoin Token (KCS), an ERC-20 token that runs on the Ethereum network, is the company’s own coin. KuCoin users who own KCS are eligible for trading fee savings as well as a “daily bonus” incentive. Users must have at least 6 KCS tokens to be eligible.
While KCS is clearly a benefit of utilizing the KuCoin platform, it is crucial to know that KCS is a volatile cryptocurrency and that you are not guaranteed a stablecoin value.
- Who is the founder of KuCoin Exchange?
Johnny Lyu is the CEO of KuCoin, a significant cryptocurrency exchange that debuted in 2017. He has extensive expertise in the e-commerce, car, and luxury industries before joining KuCoin.
- Does KuCoin offer crypto lending?
KuCoin users may also lend their cryptocurrency holdings to other would-be margin traders. Interest rates and term lengths differ depending on the coin.
Of course, there are hazards associated with crypto lending. While the loans are collateralized and the beneficiary is required to have a specific amount, price drops may result in unexpected losses, and the platform explicitly states in the conditions that KuCoin is not guaranteed to fully reimburse any losses.
- Is KuCoin Exchange trustworthy?
KuCoin is a trustworthy cryptocurrency exchange. You may trade on KuCoin with confidence, knowing that your digital assets are safe on the exchange. KuCoin employs a number of security measures, including micro-withdrawal wallets, industry-level multilayer encryption, and dynamic multi-factor authentication.
Conclusion
KuCoin is a well-known exchange platform that puts sophisticated trading features in the palm of your hand. KuCoin made it to Forbes’ list of best crypto exchanges in August 2021, with a UI that is basic enough for beginners to grasp and good enough to give ardent investors the potential to generate a consistent income. There are several coins available for purchase, sale, and trade. For newbies, KuCoin is a wonderful way to start trading cryptocurrency.
