Cryptocurrencies have been on the rise for several years now. The crypto market has grown exceptionally well, with thousands of unique cryptocurrencies defining it. An expanse of this scale is incredible on a large scale. So naturally, other elements of the current crypto world have started to pop up. In recent years, cryptocurrency exchanges have evolved to host a plethora of cryptocurrencies, allowing users to exchange the ones they have for other ones. Think of FOREX and apply a similar formula here; instead of Euros, Dollars, Pounds – we have Bitcoin, Ethereum, EOS, Litecoin; you understand. A great example of a transparent, trustworthy, and useful cryptocurrency exchange is Kucoin. Welcome to our Kucoin review!
Kucoin Review Table of Contents
Kucoin is a cryptocurrency exchange created in 2017, around the time cryptocurrencies really started exploding in popularity. Kucoin is a blockchain based asset exchange which, surprisingly, doesn’t put its fingers into crypto values too much. Basically, it was designed to be the ‘People’s exchange’. It is loaded with special and powerful features which make your time on the site – easy. On top of that, Kucoin’s dedication to hosting the perfect exchange is evident through many features.
One such feature is KuCoin; Kucoin’s native cryptocurrency token! Anyone can get it and it gives the holder extra features on the exchange. These features allow users more flexibility, knowledge, and ease-of-use. Though this by no means is a surefire way to earn big exchanging cryptocurrencies; that part is up to you.
Institutional investors will also feel right at home when visiting this exchange. Kucoin, as I said before, is loaded with features. What this means for Institutional investors is that they can use real-time order books and some extra programs to help them out. Essentially, with enough use, Kucoin has a bit of everything for everyone.
So now that you’ve got acquainted with Kucoin, an important question arises: Is Kucoin worth your time? Well, this wouldn’t be a Kucoin review if we didn’t answer all of the potential questions, eh?
Considering Kucoin appeared in 2017 and has been at it for 2 years, we wonder whether or not they’ve achieved what they wanted. And boy, did they. Over this 2 year period, Kucoin managed to be in the Top 10 most-visited and best exchanges in the world. In short, Kucoin was reeling in massive crypto trading volume. Enough to put the cryptocurrency exchange on the radar for good. You see, the once dominant crypto exchanges such as Bittrex and Coinbase fell from grace and couldn’t get back up. Right now, they’re having huge issues that’ll more-than-likely end in their complete downfall.
And the new dogs in town like Kucoin and Binance have grabbed this opportunity by the balls and took over. These two platforms bang heads all the time, though both are great (Kucoin is arguably better for newcomers and the crypto community gives them a slight edge). Nonetheless, it is refreshing to see fresh ideas pop up and achieve greatness.
According to some, the main reason behind this shift is this: Kucoin and Binance truly care about the cryptocurrency community; they have invested loads of money into it, and also, plenty of time (something they can’t get back). Constant updates, additions, and fixes are keeping them at the top. But Kucoin is something else entirely; and they have set the bar for now.
So yes, Kucoin is fully legit, trustworthy, and damn good at being a cryptocurrency exchange. Kucoin review going good for them so far!
Most of you know that joining a cryptocurrency exchange today is difficult. The more members there are (thus more people trading), the higher the demand. This, in turn, lowers the prices because now there are more cryptocurrencies and they’re easier to come-by. If an exchange continuously accepted members, demand would skyrocket and value would plummet. In most cases at least. So it’s smart to take in new people in turns; don’t push it.
However, Kucoin joined the cryptocurrency world at the perfect moment. Even in 2017, Coinbase and Bittrex were looking worse-off than before. Though at the time, this meant nothing more than a speck of doubt, today it’s much grander. So Kucoin took the opportunity and held their doors open for a long time, allowing an influx of members. Following the first wave, the doors closed indefinitely. But, what Kucoin did was open the doors constantly, whilst others were much more careful with accepting new people.
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This kind of gave Kucoin (and later on Binance) a form of ‘exclusivity’; not because there were few exclusive members, but because that’s where you wanted to be. Nowadays, Kucoin is more careful than before because they already have plenty of members, but it goes to show that going against normality sometimes pays off.
Oh that, and the number of things Kucoin does perfect – that’s why they’re so good. And that’s what comes in the next part of our Kucoin review!
As with anything in life, there are positives and negatives. Kucoin is no exception, but the good thing is there are plenty of positives and not too many negatives. I also want to note how quickly Kucoin’s journey evolved into something great. From humble beginnings to grandiose middle parts (no end in sight yet haha). In any case, not to diverge too much from the purpose of this Kucoin review – here are the pros; explained.
Supported Cryptocurrencies at Kucoin
Cryptocurrency exchanges are created with supported crypto’s in mind. The goal here is to provide as many as possible, so people who have any type of token and coin can exchange it for something else. It makes sense anyway. Kucoin supports more than 380 cryptocurrencies and/or pairs for trading; meaning 380+ markets live. Of course, the most popular ones are there as well such as BTC, LTC, BCH, ETH, LTC (the list goes on and on). Additionally, Kucoin supports ERC20 tokens too (DADI, KGS, OMG…).
Unfortunately, Kucoin doesn’t yet support fiat currencies which might be disappointing for some but there are many USDTs available, so a ray of light in a cloudy situation.
Love for Cryptos
There might be better places to exchange crypto’s, simply by virtue of the number of them. However, you won’t find a better cryptocurrency exchange that is ultimately focused on making the cryptocurrency community a better place. The people at Kucoin exchange are happy; not just with the values and number of crypto’s, but because of many other things. And one of those is the passion Kucoin’s founders share among each other. This is what drives them to improve Kucoin and provide an ever-improving experience.
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It isn’t their goal simply to make money (though obviously, it is massively important to keep it all going). Their goal is to bring revolutionary ideas to the cryptocurrency world, and that speaks volumes about how serious Kucoin’s founders are. If you, as a user on Kucoin, are constantly incentivised and rewarded for things you do on the exchange.
Because of this, you might tell your friends about this awesome new crypto exchange that has everything. And as long as Kucoin keeps the community happy – the happier the community will be!
Kucoin Fee Schedule
Speaking of revolutionizing the cryptocurrency world, Kucoin has an interesting method to trading fees. In fact, it’s so good, people rarely pass up an opportunity. Now, it’s worth noting that this special fee (discount on the fee) works only for KuCoin share (KCS) holders meaning you can’t just jump in and expect a discount. You give to Kucoin and you get rewarded for it. Maths checks out!
So, for each 1,000 KCS, you get a 1% discount on trade fees. 10,000 KCS and it’s 10%, and so on. We must bear in mind that the discount amount shouldn’t exceed 30% (which is generous to say the least). Oh and the transaction fee for deposits is nothing; nada; zero.
Simple and Easy Interface
Starting out in the cryptocurrency world can be daunting. All those charts and you can’t quite complete the puzzle just yet. What doesn’t help are crypto exchanges that are complicated, tough to use and understand, and are usually oriented towards more experienced people. But if you’re already experienced that much, why read this Kucoin review? Just kidding; read everything!
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Kucoin is truly one of the best places to start your crypto trading career. Everything is served to you on a plate essentially, and all you have to do is learn. Some Kucoin features help immensely with this and even when you cross that initial boundary, it’s versatile enough to keep using for a long time.
For when you want to trade some dank coins on the go! Kucoin portable (not its real name) is available as an app from the official Kucoin site.
Once downloaded, log in using the same credentials you use on the site and voila! You can now exchange your coins when you’re travelling, showering, or simply sitting on the toilet for hours on end. Ease of access is everything nowadays!
Useful Order Books
Obviously, a cryptocurrency exchange must be oriented towards both casual traders and serious businesspeople. As such, it needs to have certain features that elevate it above the rest of the competition. You have probably caught on about what the ultimate score of this Kucoin review is going to be; even so, we want to bring Kucoin closer to you, and that includes being thorough.
So order books. Kucoin has an ingenious system of order books that maintains proper contact between buyers and sellers. Order books are used to keep track of everything on the exchange itself. Once you go through the quick and simple KYC check, you’ll be able to utilize this feature to its full potential. The user interface looks sleek and clean; better than its counterparts in Bitfinex or Bittrex.
ICO’s for Popular, Strong Alt-Coins
Everyone wants a piece of that fresh ICO – no exceptions. And for good reason; when new cryptocurrency coins come out, you usually want to invest in them as they are cheap. If they flop – no worries, you bought them cheap, you’ll sell them cheap. Some losses will occur but hey – that’s crypto trading. Not so much with Kucoin!
See, exchanges such as Bitmex, Coinbase, and the like offer popular coins and a low number of new coins. However, in lieu of the Kucoin developers having a social life, they focus on getting as many new coins as possible. This essentially means you have access to most of the newest cryptocurrencies at fairly low prices. And most of these will eventually grow into more valuable coins. Having this type of access and versatility is what makes Kucoin shine.
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Lastly, I want to say that Kucoin does a stellar job acquiring new coins; oftentimes every week and even day.
Here’s the juicy bit and the ultimate feature of Kucoin. Remember those Kucoin shares I mentioned under the ‘Fee Schedule’ part of this Kucoin review? Here’s an explanation that could elevate your opinion on Kucoin even more.
Kucoin shares are accessible to everyone and they come in the form of KCS. When you buy KCS (Kucoin’s cryptocurrency token), you become an owner of Kucoin’s shares. Not surprising; most large crypto exchanges offer the same deal. However, Kucoin does things a little differently around their block. You see, the first interesting part revolves around Kucoin keeping their word. Here’s what I mean:
- Kucoin has given a promise that they will continue doing quarterly buyouts of KCS until (and this is important) 100 million units of KCS are destroyed. In time, this will raise the value of existing KCS. If at this time you have KCS in the bank, you’ll basically make a ton of positive revenue! Of course, this is the best case scenario, but a very likely one at that.
KCS is integrated into the very fabric of Kucoin, but why does Kucoin have an advantage over let’s say Binance? Binance also has Binance Coin which works similarly to KCS. The magic words are ‘profit sharing’. Kucoin doesn’t have this feature and for a good reason.
Whenever you make a trade on the Kucoin exchange, a fee has to be paid for it to proceed. But here’s the fucking grand finale:
- When Kucoin processes a trade, it keeps 10% of the trading fee. 40% is given back to the referrer. And a whopping 50% is spread to all KCS holders! What this means is that you can own KCS, do nothing all day, and probably make passive income off it.
This is a stunning platform scheme that is both ingenious and generous. And this proves my point about Kucoin caring for the cryptocurrency world; as it grows, so too will they.
The referral plan that Kucoin offers is interesting and exciting. Anyone can do it, and most people do. All that you have to do is get onto the Kucoin referral program, get your affiliate link, and send to people to sign up for Kucoin. Once your users start trading, you get 20% of their trading fees (on top of what gets redistributed back to you from the platform itself). When they invite people who sign up and start trading, you get 12% of their fees.
This repeats for one more iteration but you get 8% fees. So if you manage to collect an army of crypto enthusiasts (which, given the era, isn’t difficult), you’ll be making passive income regularly!
Your invitees also earn passive income, and so on. You don’t have to invest anything; you aren’t forced to use the referral program, but it’s a nice way of utilizing all the features Kucoin offers.
Kucoin does a lot of things right, but they also lack in some fields. This isn’t uncommon as nothing is perfect, in life nor in the crypto world. Some of you might run into these issues but hey – it’s not terrible!
Considering how quickly the market grows and how volatile it is, Kucoin does occasionally get a massive influx of users. During these periods, Kucoin’s servers do suffer a bit and there have been rare instances of servers crashing.
Though, during my Kucoin review on site, I haven’t encountered such issues. Also, it was smooth sailing for the previous few months as well. If it does happen, you needn’t worry because they do fix it quickly, and they do invest in user experience improvements regularly.
Lack of FIAT Currency
If you want to start your career on Kucoin, you’ll have to follow a workaround. FIAT currencies (legal tender) are, as I said earlier, not available on the exchange. This means that you’ll have to get them elsewhere, and transfer them to your Kucoin wallet/account.
It’s not the end of the world; of course it would be awesome if they did have FIAT’s but, that’s the life of a crypto exchange. Basically, a minor inconvenience. Still important to mention in this Kucoin review.
High Fees for Some Crypto Coins
Ah yes, the dreaded high fees for some types of coins. Most of what you can exchange on Kucoin has reasonable and especially low fees. For the most part, people are happy. But not everyone. Some coins are presented with fees higher than what you could find elsewhere. However, this also isn’t a big issue because most popular coins (and plenty of fresh ones) come with a low fee. And besides, when you have nearly 400 coins to choose from; you can just skip the ones with high fees, at least for the time being.
Ultimately, Kucoin delivers on nearly all fronts. They constantly raise the bar on quality, quantity, and rarity. A prime example of a cryptocurrency exchange done right; loads of new, young crypto coins, plenty of the famous and infamous ones, a referral program where you earn doing nothing, and a fee reimbursement for KCS holders where you earn… doing nothing. Just kidding, you still have to know what you’re doing and make the right moves to actually achieve profit.
But Kucoin eases that process and helps you along the way because they want to see the cryptocurrency world grow. Plus, it helps them grow as well, which means more of everything! Even with the couple of negatives, Kucoin remains at the top of the crypto exchange world. Great place to start and overall, a solid experience through and through. Full recommendations!
That’s about it for our Kucoin review! Did you enjoy the article and visit Kucoin? How was your experience? Let us know in the comments below!