As you know, KuCoin is a cryptocurrency exchange that was launched pretty recently in 2017. They offer their customers third-party brokerage services. Even though the platform has just three years of trading history, it is currently one of the largest crypto exchanges. Does cryptocurrency interest you? Well, then you might benefit from reading this article.
Especially if you are considering buying digital currencies like Bitcoin and Ethereum with a debit or credit card or trading crypto-to-crypto pairs, KuCoin is the best option available. Therefore, we will share the KuCoin review with you for your convenience. You will get an idea regarding whether you should opt for them or not.
Needless to say, the global exchange and third-party broker is home to some of the largest trading volumes in the space, alongside a fee structure that should suit most budgets. So in this guide, we will review the ins and outs of KuCoin. In fact, this article will include an in-depth analysis of the platform’s supported coins, fiat currency facilities, fees and commissions, security, customer support service, and other important aspects.
Now let us share some of the significant details regarding KuCoin in this article. Stay with us until the end to get a complete idea regarding the crypto platform.
Some Significant Details Regarding KuCoin
Many of you who prefer using cryptocurrencies will be curious to know all the relevant details about KuCoin. Well, you are at the right place as we will share some important details here.
Do you know how they became famous within a short while? Well, one of the main reasons for this is that you will find over 200 coins with about 450 cryptocurrency pairs hosted at the exchange. In fact, apart from the major pairs like BTC/USDT and ETH/USDT, heaps of crypto-cross pairs are also present. Out of all, if you have an appetite for trading a less liquid ERC-20 token, chances are you will find it at KuCoin. So why not opt for their services?
Furthermore, this platform was initially known for depositing funds with fiat currency. However, with time, KuCoin has formed a partnership with Simplex. It is a European payment provider that bridges the gap between cryptocurrencies every day.
Trace KuCoin’s Journey To Success
As per the sources, KuCoin claims to have facilitated more than 650 million individual trades since its inception in 2019. This translates to more than $71 billion in accumulated trading volumes. This is indeed a big deal, don’t you think?
Here we will cover in more detail further down. You must know that no national licensing body regulates KuCoin’s activities. Do you know what this means? Well, it means that you will be able to trade cryptocurrencies without supplying any ID. However, that won’t be the case if you wish to buy digital coins with a debit/credit card through Simplex.
Check Out What You Can Trade at KuCoin
If you consider opting for KuCoin’s services, you would want to know what you can trade on this platform. So here we are with all the relevant details regarding the matter. Needless to say, KuCoin offers a vast range of financial instruments that goes above and beyond just crypto-to-crypto pairs. At the same time, the platform also offers cryptocurrency indexes, margin trading, and even futures.
So let us share with you all the relevant details regarding what you can trade at KuCoin. This will help you if you opt for their services.
1. Crypto-to-Crypto Pairs
This is one of the places where you can trade at KuCoin. In fact, you must know that each and every trading pair at KuCoin falls within the remit of crypto-to-crypto. It is because it does not offer any fiat-denominated instruments.
However, you will need to trade your chosen cryptocurrency against the USDT if you want access to the crypto-to-USD space. So you must remember this aspect if you opt for their services.
2. KuCoin Indexes
Along with offering their customers traditional crypto-cross pairs, KuCoin also offers a number of indexes. The concept here is that KuCoin will take the weighted average of a specific cryptocurrency across several leading exchanges.
This is to offer a more accurate price of the coin in question, as it considers the variations you often find between competing platforms. In fact, KuCoin indexes are available across crypto platforms like Bitcoin, Ethereum, Ripple, Litecoin, and a few others.
3. KuCoin Futures
Since its inception in mid-2019, the KuCoin Mercantile Exchange has allowed its customers to trade Bitcoin futures. In fact, KuCoin itself notes that it is looking to challenge the likes of BitMEX in this particular area of cryptocurrency. Therefore, you will have access to Bitcoin futures alongside a substantial margin position of up to 100x. That is quite impressive, isn’t it?
Moreover, a $100 account balance would permit a maximum trade value of $10,000. When it comes to the underlying spot price, KuCoin takes the weighted average from various leading exchanges – such as Kraken. Therefore, you can indeed opt for their services if you want to enjoy all these services.
What are The Trading Fees & Commissions?
This is one of the aspects that any customer would want to know if they are opting for their services for the first time. So let us give you good news, there are no fees associated with cryptocurrency deposits.
Moreover, they charge the withdrawals at the standard mining rate as per the coin you want to cash out. So when it comes to trading fees outside the futures arena, you will pay 0.1%. This means that a $10,000 trade would cost you $10 in fees.
KuCoin Provides You With Discounted Trading Fees
One of the significant aspects for which people opt for KuCoin’s services is because of this. In KuCoin Shares, you will get discounted trading fees. While the standard fee of 0.1% is industry-leading, you might get the chance to reduce this by an additional 20%.
Therefore, you just need to turn on the KCS Pay Fee button and enjoy the discount. It is pretty simple, isn’t it?
So as we conclude, we can say that KuCoin is currently one of the most popular cryptocurrency exchanges in the space. This is because they not only give it access to over 450 cryptocurrency pairs, but you can also trade crypto-specific indexes and Bitcoin futures.