KuCoin Cryptocurrency Exchange Review

KuCoin is a cryptocurrency exchange based in Hong Kong that has been built and planned since 2011. The exchange architecture was built in 2013 and launched to the markets in 2017. KuCoin is a different crypto exchange due to the fact that it has some special features that make it unique.

Why KuCoin?

This cryptocurrency exchange works like most of the other exchanges but it offers some special features. For example, it has its own shares (KCS) that allow users to reduce fees within the platform and have a passive income.

When a customer refers the platform to a new client, it receives Kucoin Shares. How this system works? KuCoin shares 90% of the total platform’s trading fee with its users. KuCoin keeps just 10% of the trading service fee for the developer team and the maintenance of the exchange. Another 40% is shared with the users who have recommended others to trade on KuCoin as an invitation bonus. And finally, 50% of the fees go to users who hold KCS on KuCoin as a bonus.

Competitive Fees

The fees offered by KuCoin are also competitive. For example, there is a fee of 0.1% per trade and these individuals who own Kucoin Shares have several discounts. The withdrawal fees are also small compared to other cryptocurrency exchanges. To withdraw BTC the fee is 0.0005 BTC, for Ether 0.0005, for Litecoin 0.001 and for NEO and GAS free.

Wide Selection of Cryptocurrencies

This cryptocurrency exchange offers several cryptocurrencies and not just the most known. At the moment it has available more than 80 cryptocurrencies for trading. Furthermore, it will keep adding coins that may have a good outlook in the future. That would allow investors to have access sooner than in other exchanges where coins take longer to be added.

Interface, Graphics, and Security

KuCoin has included a wide range of tools for its graphics that allow investors to easily find patters. Compared to other cryptocurrency exchanges, this is an important feature that individual investors appreciate.

The exchange has a user-friendly interface that helps the user find itself when there is an important variety of pairs and currencies available to be traded.

The security is taken very seriously by this cryptocurrency exchange. Every single two hours of trading, the user needs to log in again. But in order to log in, it is necessary to have google authenticator. At the moment, there have not been informed hacks to the platform (it is operational since some months), but minor complaints have been registered.

Team

KuCoin has been founded by seven recognised and specialized developers. Michael Gan is the CEO and has been working as a technical expert for AntFinancial (part of the Alibaba Gorup) among other important enterprises.

Eric Don, is the COO and is a senior internet researcher, systems architect, and internet industry star, It has been working at Youlin.com, Kiteme and Reiniot.

Top Lan is the CTO and works as technical expert. It manages multiple mainstream open source projects in Github, and has been working as a designer and developer of KuCoin financial exchange system.

Other team members are Kent Li, John Le, Jack Zhu and Linda Lin.

Disadvantages

When individuals are not yet in cryptocurrencies and KuCoin is the first exchange that they are using, the fact that it does not support fiat currencies makes it a little bit more difficult for beginners in the space. It is necessary to transfer some cryptocurrencies from other wallets or exchanges.

One of the main complains of the users is that when there is a high traffic of users, the exchange experiences several difficulties. That is not good for day traders who are waiting for the correct moments to buy and sell. This could be traduced in loses for some of the traders.

As the cryptocurrency exchange does not require any ID verification, in the future it could face problems if AML and KYC policies get tougher in Hong Kong. But other users would consider it as an advantage. The fact that just a few cryptocurrency exchanges don’t ask for ID verification, it could bring some more users to the platform.

Conclusion

KuCoin is a new established cryptocurrency exchange that its starting to create its own space in the market. It has several advantages, that would push several investors to start using it. The KCS it is a nice way to incentivize the community to spread the benefits of this exchange that seems to have a good future ahead.

In our opinion it is worth to give it a try.

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