Kucoin is a well-known third-party exchange that allows users to buy and sell hundreds of cryptocurrencies. The platform is often regarded as one of the cheapest exchanges in the industry, not least because they offer super low trading fees.

If you looking to open an account at Kucoin for your crypto trading needs, then we would suggest that you read our comprehensive review first. We’ve independently reviewed the most important things that you need to consider, such as regulation, fees, supported coins, payment methods, and more.

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If you don’t have the time to read our review in full, we summarized by noting that we cannot endorse Kucoin. The main reasons for this are that Kucoin operates in an unregulated manner, and users are unable to deposit or withdraw funds with real-world money. We instead prefer heavily regulated platforms like Coinbase, who on top of holding two regulatory licenses, allows you to deposit funds with debit/credit cards and e-wallets, and they even allow you to short crypto.

What is Kucoin?

Although Kucoin was only launched in 2017, the platform is now one of the most popular cryptocurrency exchanges in the industry. The exchange now lists hundreds of cryptocurrency pairs. This includes popular coins like Bitcoin (learn how to buy bitcoin with a credit card) and Ethereum, as well as more obscure ERC-20 tokens.

The Kucoin exchange has also issued their very own cryptocurrency token. Known as Kucoin Shares, those holding the token are accustomed to a share of the platform’s profits. These revenues are linked to the fees Kucoin makes via its facilitation of trading.

Although Kucoin is great for low trading fees and an extensive range of supported coins, the platform does not have any relationship with fiat currency. This makes it challenging for first time crypto traders to enter the marketplace.

How does Kucoin Work?

Kucoin is a traditional third-party cryptocurrency exchange, insofar that they stand between buyers and sellers. Unlike brokers such as Coinbase, you don’t actually purchase coins from Kucoin. Instead, you are matched with other traders, and thus, Kucoin makes their money via trading fees.

Due to the wide range of coins available at Kucoin, users can either use the platform for their crypto day trading needs, or alternatively, buy coins and withdraw them with private Bitcoin wallets as a long-term investment.

In order to get started at the platform, you will need to make a deposit. As Kucoin does not support real-world payment methods such as a debit/credit card or e-wallet, you’ll need to fund your account with a cryptocurrency.

If this won’t suffice, and you instead need to use an everyday payment method, the likes of Coinbase support both debit/credit cards and e-wallets (such as PayPal and Skrill)

What cryptocurrencies does Kucoin support?

One of the greatest benefits of using a platform like Kucoin is that they have a hugely extensive list of supported cryptocurrencies. This not only covers established cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum (Find out how to buy Ethereum with Paypal)and Stellar, but also hundreds of obscure tokens. However, it is important to note that Kucoin does not offer any trading pairs that include fiat currencies such as USD/GBP/EUR. Nevertheless, here is the full list of supported coins at Kucoin. MetaHash

0x

Achain

adbank

aelf

Aergo

Aigang

Aion

Alphacat

Ambrosus

Ankr Network

Aphelion

Aurora

aXpire

BABB

Bitcoin Cash

Bitcoin Diamond

Bitcoin SV

BitTorrent

Block Array

Blockport

BOScoin

Bounty0x

BUMO

Bytom

CanYaCoin

Cappasity

CargoX

carVertical

CashBet Coin

Caspian

Change

Chronobank

Civic

ClearPoll

CoinFi

CoinPoker

Constellation

Cosmo Coin

Covesting

CPChain

Credits

Crypterium

Crypto.com Chain

DACC

DADI

Dash

Datum

DATx

Debitum

Decentraland

Decision Token

Decred

DeepBrain Chain

DeepOnion

Dent

DigiByte

Distributed Credit Chain

doc.com Token

Dock

Dragonchain DxChain Token

eBitcoin

Eden

Egretia

Elastos

Electrify.Asia

Electroneum

Endor Protocol

Energi

Enjin Coin

EOS

Ethereum

Ethereum Classic

Experty

Fantom

Fetch

Flixxo

Fortuna

GAMB

Gas

Genesis Vision

GoChain

Grin

Hacken

HEROcoin

High Performance Blockchain

HOT Token

HyperCash

Insolar

IOST

IoT Chain

IoTeX

Iungo

JET8

Kambria

KickCoin

KuCoin Shares

Kyber Network

LALA World

LATOKEN

Lisk

Litecoin

LockTrip

Loki

Loom Network

Lympo

Maker

Matrix AI Network

Medicalchain

Merculet

Metadium

Monero

MultiVAC

Nano

Neblio

NEO

NULS

ODEM

Odyssey

OmiseGO

OneLedger ONOToken

Ontology

Opacity

Open Platform

OriginTrail

PAL Network

PARETO Rewards

Phantasma

Populous

Power Ledger

Pundi X

QLC Chain

Qtum

QuarkChain

RChain

Red Pulse Phoenix

Request

Restart Energy MWAT

Revain

RIF Token

RSK Smart Bitcoin

Selfkey

Shivom

SingularityNET

SIRIN LABS Token

Snovian.Space

Solaris

SOLVE

SONM

SophiaTX

Spendcoin

SportyCo

Status

Stellar

Storiqa

SunContract

sUSD

SwissBorg

Synthetix Network Token

TE-FOOD

Telcoin

TenX

Tether

THEKEY

TomoChain

Travala.com

TRAXIA

TRON

TrueFlip

TurtleCoin

Ulord

Usechain Token

UTRUST

V Systems

VeChain

VisionX

Waltonchain

Wanchain

WAX

XRP

XYO

Zeepin

Zilliqa

Which countries does Kucoin support?

Kucoin supports customers from almost 200 nation-states. However, as you’ll see from the list below, Kucoin does not accept users from the U.S. Below is a list of all countries accepted by Kucoin.

Afghanistan Albania Algeria Andorra Angola Antigua and Barbuda Argentina Armenia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Brunei Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Colombia Comoros Congo Costa Rica Cote d’Ivoire Croatia Cuba Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Fiji Finland France Gabon Gambia Georgia Germany Ghana Gibraltar Greece Grenada Guatemala Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Mauritania Mauritius Mexico Micronesia Moldova Monaco Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands New Zealand Nicaragua Niger Nigeria Norway Oman Pakistan Palau Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Qatar Romania Russian Federation Rwanda Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Swaziland Sweden Switzerland Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Tuvalu Uganda Ukraine United Arab Emirates United Kingdom Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands, British Yemen Zambia Zimbabwe

If you’re either a U.S. resident or a U.S. citizen living overseas, then you’ll need to use a U.S.-friendly platform like Coinbase.

Kucoin Payment Methods and Fees

When it comes to depositing and withdrawing funds at Kucoin, you have one option, and one option only. As the platform does not support fiat currency, you will need to fund your account with cryptocurrency.

Cryptocurrency deposits and withdrawals only

Cryptocurrency deposits and withdrawals only No debit/credit card, bank account or e-wallet payments

Trading fees

Kucoin has a very simple trading fee structure. The platform charges both market makers and market takers 0.1%, which makes it one of the cheapest cryptocurrency exchanges in the online space. If you are in possession of the platform’s native Kucoin Shares tokens, then you can reduce your fees further.

Depending on how much you are holding, the absolute minimum you can get the fees down to is 0.0125% and 0.03%, for markers and takers, respectively.

How to sign up and trade on Kucoin

As Kucoin is not a regulated exchange, nor do they support fiat currency deposits, we would suggest that you re-think your plans to open an account. However, if you do want to proceed, then we’ve listed a step-by-step guide to help you get you started.

1. Open an account at Kucoin

Head over to the Kucoin homepage and click on ‘SIGN UP’. Next, enter your email address and then click on ‘SEND CODE’. You’ll have 60 seconds to obtain the 6 digit PIN number and paste it into the box. Before clicking on confirm, make sure that you read and accept the terms and conditions.

Finally, you will need to choose a strong password. Your Kucoin account is now ready to use.

2. Deposit funds

Now that your Kucoin account is open, you need to deposit some funds. Don’t forget, the platform doesn’t support fiat currency deposits, so you’ll need to fund your account with cryptocurrency. At the top right-hand side of the screen, click on ‘ASSETS’, followed by ‘DEPOSIT’.

Before you can continue, you’ll be told that you need to increase the security on your account. Set up both SMS verification and a separate trading password.

Once you’ve done this, simply select your preferred cryptocurrency, copy your unique Kucoin wallet address, and transfer the funds across from your private wallet. Regardless of the coin you are depositing with, Kucoin normally takes around 10-20 minutes to credit your account.

3. Trade crypto

As soon as your Kucoin account is funded, you can begin trading. First, click on the ‘EXCHANGE’ button at the top of the screen. You’ll then be taken to the main trading area. For beginners, this can look a bit intimidating.

On the left-hand side, you need to enter the cryptocurrency trading pair that you want to trade. The search box will auto-populate once you start typing. For example, if you want to trade BTC with ETH, start typing ‘BTC’.

Once you’re on the trading screen for your chosen trading pair, you need to fill out the order box. As you’ll see in the screenshot below, you need to enter the amount that you want to buy or sell, and whether you want to place a market order or limit order.

Finally, to complete your trade, re-check the information in the order box and click on the green ‘BUY’ or ‘SELL’ button to execute your trade.

Is Kucoin regulated?

Kucoin is not a regulated exchange, which is why we cannot endorse them. Although the exchange is yet to experience any hacks, if and when it does happen, you could lose your entire funds. We think that you should only deposit funds with a heavily regulated exchange like Coinbase. The platform is authorized and licensed by both the FCA (UK) and CySEC (Cyprus).

Is Kucoin safe?

As noted above, Kucoin is not regulated, and thus, they are not a safe cryptocurrency exchange. However, the platform does utilize a range of security features in an attempt to keep your money safe, which we’ve listed below.

Two-factor authentication (compulsory)

Two-factor authentication (compulsory) Separate trading password

Separate trading password Email confirmation on log in

Email confirmation on log in Internal risk control team

Internal risk control team Encrypted client data

Does Kucoin have a wallet?

Although Kucoin claims to be the “most advanced and secure cryptocurrency exchange”, the platform only offers users an online wallet. Web wallets are the most unsecured way of storing funds, as if the platform’s servers were compromised, you could have your tokens hacked.

Does Kucoin have an app?

Kucoin offers a mobile app that is available to download free of charge on both iOS and Android devices. The Kucoin app provides all of the same services that you can access online. This includes the ability to trade, deposit and withdraw funds, check your transaction history, and research pricing charts.

Kucoin customer service

The customer support team at Kucoin work around the clock, on a 24/7 basis. Although live chat is supported, waiting times are always really long. You can also contact support via email, however, phone support is not offered. Alternatively, you can also access the Kucoin help center, which is fairly extensive.

Live Chat

Email

Kucoin pros and cons

Pros: One of the largest lists of supported cryptocurrencies

One of the largest lists of supported cryptocurrencies Ultra low trading fees

Ultra low trading fees No hacks to date

No hacks to date Good trading volumes and liquidity levels Cons: Not regulated

Not regulated Trading interface not suitable for newbies

Trading interface not suitable for newbies No offline wallet offered

No offline wallet offered Does not support fiat currency deposits, withdrawals or trading pairs

Does not support fiat currency deposits, withdrawals or trading pairs Live chat waiting times always really long

Conclusion

In summary, if you are looking for an exchange that allows you to buy and sell hundreds of cryptocurrencies – both large and small, then Kucoin is certainly a notable contender. Moreover, the trading area offers a full range of charting tools, which makes it ideal for experienced traders.

However, two clear points prevent us from endorsing Kucoin. Firstly, the platform does not accept real-world deposit methods. As such, you can only fund your account with crypto. Secondly, the platform holds no regulatory licenses, which in our opinion, puts your funds at risk.

When we made the comparison with Coinbase, we found that they are heavily regulated and that they accept multiple payment methods such as a debit/credit card, e-wallet, and more. Moreover, the platform is much easier to use, and they even allow you to go-short on cryptocurrencies.

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How many coins do Kucoin list? Kucoin lists just under 200 individual cryptocurrencies on its platform.

Can you 'short' Bitcoin on Kucoin? You can't short coins on Kucoin. You'll need to use a more comprehensive platform like Coinbase for this.

How much are Kucoin trading fees? Kucoin offers a standard trading fee of 0.1% per trade. If you hold Kucoin Shares, you can reduce these fees further.

Do I need to verify my identity to use Kucoin? You only need to verify your identity if you are trading significant volumes.

Can I buy crypto with a debit/credit card at Kucoin? Kucoin does not accept debit/credit cards, nor any other fiat currency method for that matter.

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