Trading Accounts and Conditions
Account type Minimum deposit Leverage Trading fee
Standard Undisclosed 1:1 0.1%*
*Wthdrawal fees also apply (0.0005 BTC).
KuCoin is a cryptocurrency exchange based in Hong Kong. It operates on a crypto-to-crypto basis, so no fiat currencies are supported. Nonetheless, its digital assets portfolio is pretty extensive and besides, KuCoin offers its own token KCS (KuCoin Shares) and uses it in a similar way to Binance.
Like most similar of venues, KuCoin does not offer margin trading and has not disclosed whether there is any minimum investment required.
KuCoin Advantages
Competitive fees
KuCoin charges trading and withdrawal fees, while crypto deposits are free of charge. While this is the approach of many other exchanges, the fess of KuCoin are really competitive. It charges a flat fee of 0.1% per trade, while the average in the secctor is around 0.20% - 0.25%. Besides, for those who hold KuCoin Shares, there are attractive discounts.
In addition, withdrawal fees applied by KuCoin are also reasonable. For example, Bitcoin withdrawals are charged with a fee of 0.0005 BTC. Here you can find the complete information about withdrawal charges:
Many cryptocurrencies offered
Although it was launched in mid-Septemner 2017, KuCoin already offers a substantial number of coins for trade (around 80), and keeps adding new ones. On their website, pairs are grouped into 5 categories: BTC, ETH, NEO, USDT and KCS markets. It was even the first exchange to launch trading in the RedPulse token (RPX).
To date (late November, 2017), the most traded pairs on KuCoin are: RPX/BTC, NEO/BTC, ETH/BTC, and KCS/BTC.
Good platform with advanced charting
KuCoin’s has developed a web-based trading platform with nice design that has some advanced charting with technical indicators, powered by TradingView. Besides, mobile apps for Android and iOS are coming soon, currently available in beta version. Here is a snapshot of KuCoin’s platform:
Take a quick peek - www.kucoin.com
Sufficient liquidity
Although KuCoin is a newly-launched exchange, it seems that it doesn’t have issues with liquidity, at least regarding popular cryptocurrencies.
Promotions available
KuCoin offers a bunch of promotions: a referral program, top traders bonus promotion, and discount options for those holding its KCS token. Here is how the latter works:You get up to 30% discount on trading fees when you use their KuCoin Shares.
KuCoin Disadvantages
Does not support traditional fiat currencies
On KuCoin’s exchange you cannot exchange your dollars for Bitcon, or vice versa. Supporting fiat currencies is an advantage, especially for beginners, who don't have any coins yet. Accordingly, the only payment methods accepted by the exchange, are blockchain transfers. Those who’d rather use their bank accounts or proceed payments with credit cards, may check out some exchanges which offers such options.
Conclusion
KuCoin is a newly-launched crypto-to-crypto exchange where you can trade in the usual Bitcoin, Ethereum, Litecoin, and many more plus its own shares cryptocurrency. The biggest plus is the listings of the brand new coins, where huge gains can be made.
There are a number of benefits of trading on KuCoin: it is low-cost trading on advanced platform, trading volumes on most assets are good, and besides, there are different promotions running.
On the downside, fiat currencies are not supported, and the information about the company owning and operating the exchange is limited to its Hong Kong headquarters. Of course, it is not overseen by any authority, as currently the legal status of crypto-exchanges is still unclear.