KuCoin Review 2024 - Is KuCoin Exchange Safe?

KuCoin is a well-known name in the crypto industry as it managed to establish itself as a prominent one-stop shop for all sorts of crypto operations. Launched in August 2017, the exchange has over 700 cryptocurrencies, is available in more than 200 countries, and has grown into one of the most colorful crypto hubs online.

Category	Details
Website	🌐 Visit KuCoin
Main Location	Seychelles
Parent Company	Mek Global Limited
Supported Pairs	700
Has Token	Yes
Fees	Low
Supported Fiat	USD, EUR, GBP, AUD +
Daily Volume	8297.5 BTC

KuCoin Review: Key Features

KuCoin has grown into a top cryptocurrency exchange that can boast of serving over 30 million crypto investors worldwide. It has developed an impressive suite of crypto services, including the fiat onramp, futures and margin trading exchange, passive income services such as staking and lending, peer-to-peer (P2P) marketplace, IEO launchpad for crypto crowdfunding, non-custodial trading, and much more.

Other notable KuCoin features include:

Buy and sell over 700 cryptocurrencies with low fees worldwide. As one of the top cryptocurrency exchanges, KuCoin supports a wide variety of crypto assets. In addition to the bonuses and discounts, it charges a 0.1% fee per trade and even small fees for futures trading.
Buy crypto with top fiat currencies, including USD, EUR, CNY, GBP, CAD, AUD, and many more. KuCoin lets you buy cryptocurrencies with fiat using its P2P fiat trade, credit or debit card via Apple Pay, Simplex, or Banxa, or its Fast Buy service, which facilitates multiple currencies for purchases of Bitcoin (BTC) or Tether (USDT).
Excellent customer support service that can be contacted 24/7 via its website, email, ticketing system, and other channels.
Bank-level asset security. KuCoin uses many security measures, including secure asset storage in separate cold, warm and hot wallets in addition to multisig technology, and dedicated internal risk control departments which oversee day-to-day data operations according to strict security standards.
KuCoin Futures and Margin Trading. Long or short your favorite cryptocurrencies with up to 125x leverage!
Earn cryptocurrency. Check out KuCoin’s crypto lending, staking, soft staking, and KuCoin Shares (KCS) bonus on how you can put your cryptocurrencies at work to generate yield.
Intuitive and beginner-friendly platform. Excellent design and the robust trading platform make trading easy and enjoyable for everyone.

In brief, KuCoin is an excellent cryptocurrency exchange for cryptocurrency investors. It boasts relatively high liquidity, a high number of users, a wide selection of supported assets and services, as well as low trading fees.

KuCoin Fees Overview

KuCoin offers some of the lowest fees among altcoin exchanges. Its fee structure is relatively straightforward and easy to understand.

First and foremost is KuCoin spot trading fees. Here, every deal is subject to the fixed 0.1% fee. The costs tend to decrease based on your 30-day trading volume or KuCoin Shares (KCS) holdings, which entitle you to the additional trading fee discount. Besides, you case use KCS tokens to cover some of your trading fees with KCS Pay.

Tier	Amount of KCS Held	30-day trade volume in BTC	Maker/Taker fee	KCS Pay fees
LV 0	0	<50	0.1%/0.1%	0.08%/0.08%
LV 1	≥1,000	≥50	0.09%/0.1%	0.072%/0.08%
LV 2	≥10,000	≥200	0.07%/0.09%	0.056%/0.072%
LV 3	≥20,000	≥500	0.05%/0.08%	0.04%/0.064%
LV 4	≥30,000	≥1,000	0.03%/0.07%	0.024%/0.056%
LV 5	≥40,000	≥2,000	0%/0.07%	0%/0.056%
LV 6	≥50,000	≥4,000	0%/0.06%	0%/0.048%
LV 7	≥60,000	≥8,000	0%/0.05%	0%/0.04%
LV 8	≥70,000	≥15,000	-0.005%/0.045%	-0.005%/0.036%
LV 9	≥80,000	≥25,000	-0.005%/0.04%	-0.005%/0.032%
LV 10	≥90,000	≥40,000	-0.005%/0.035%	-0.005%/0.028%
LV 11	≥100,000	≥60,000	-0.005%/0.03%	-0.005%/0.024%
LV 12	≥150,000	≥80,000	-0.005%/0.025%	-0.005%/0.02%

Besides, the exchange has an institutional investor program whose participants can get significant trading fee discounts.

Here is how KuCoin fees compare with other popular altcoin exchanges:

Exchange	Altcoin pairs	Trade fees
Kucoin	700+	0.1%
Binance	539	0.1%
HitBTC	773	0.1%/0.25%
Poloniex	92	0.2%

KuCoin Security

As of December 2023, there have been one hack of the KuCoin’s Twitter account in 2023, and one hac in the exchange in 2021. However, the affected users were mostly reimbursed.

The exchange brings about a compelling mix of security precautions on both system and operational levels. System-wise, the exchange was constructed according to finance industry standards, which grant it bank-level data encryption and security. On the operational level, the exchange employs specialized risk control departments that enforce strict rules for data usage.

On a user side of things, you can maximize your KuCoin account security by setting up:

Two-factor authentication.
Security questions.
Anti-phishing safety phrase.
Login safety phrase.
Trading password.
Phone verification.
Email notifications.
Restrict login IP (recommended when keeping at least 0.1 BTC).

Using these settings, you can be sure that your funds are secure. However, a standard recommendation is that you don’t keep all of your funds in the exchange, as they introduce an extra point of failure. Instead, keep only what you can afford to lose on the exchanges.

Overall, most users agree that KuCoin is a safe and reliable platform.

KuCoin Customer support

KuCoin has a helpful around the clock customer support staff that is reachable via the following channels:

KuCoin Help Center
FAQ Center
Onsite chat
Mobile app support

KuCoin Deposits and Withdrawals

KuCoin is an exclusively crypto-to-crypto exchange, which means you cannot deposit any fiat, except when you buy it directly via third-party integrations (like Simplex or Banxa). It supports neither fiat trading pairs nor deposits, but it supports increasingly more fiat payment methods that are integrated into its crypto buying services.

KuCoin does not charge fees for deposits and has a varying fixed fee for withdrawals. Transaction processing times usually depend on the asset’s blockchain, but they are executed within one hour, so withdrawals usually reach user wallets in 2-3 hours. More substantial withdrawals are processed manually, so users who withdraw higher amounts may have to wait 4-8 hours at times.

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Conclusion

KuCoin is an ambitious and innovative player in the crypto space. The exchange has experienced significant growth since its inception in 2017 and is now amongst the top industry’s players in terms of security, reliability, service quality, and features. As such, the exchange is best suited for both new and experienced traders who want exposure to popular as well as less-known small-cap crypto tokens and assets.