KuCoin Exchange: Your Altcoin Marketplace

Have you ever felt overwhelmed by the huge number of cryptocurrencies in the crypto space? Are you always looking for an exchange where you can trade many different altcoins? You don’t have to anymore now.

KuCoin is here to take all your worries away. This exchange is also known as “The People’s Exchange”. KuCoin exchange has solidified its place as the leading altcoin marketplace as it offers hundreds of tokens, even the ones you might not find on other big exchanges.

This cryptocurrency platform was founded in 2017 and it has since become popular for people looking to trade in coins other than the traditional Bitcoin and Ethereum. It has a diverse portfolio of altcoins and an intuitive interface which makes it platform perfect for all the traders out there.

As a matter of fact, KuCoin has around 917 cryptocurrencies in which anyone can trade and make a significant profit.

Now do you believe us when we say that it’s the leader in altcoin trading? You should.

This was just one feature that makes KuCoin a favorite for many traders. Read the article til the end to find out everything about KuCoin exchange.

Intro to KuCoin Exchange

KuCoin is a global centralized cryptocurrency exchange founded in 2017 by Kent Li and Michael Gan. You can buy, sell and trade digital assets on this platform as well as provide other ways to earn. This platform became fairly popular in a short time mainly because of its vast portfolio of altcoins. Today this exchange is being used by millions of people to trade digital assets.

KuCoin currently has a user base of over 34 million worldwide, which is incredible.

This crypto platform also lists newer projects way before the other exchanges. That’s why it is perfect for traders who love to trade the lesser-known projects, with growth potential, before they skyrocket.

KuCoin is designed to be user-friendly and interactive at the same time so both beginners and experienced traders can have a good time trading digital assets. There are various trading options on the platform. These include spot trading, margin trading and futures trading. You can choose whichever suits your trading needs.

According to Coinranking, KuCoin is at #13 depending on the 24-hour trading volume on the platform. It makes up 0.99% of the entire market share.

This crypto platform also offers advanced trading tools, security measures and other ways to earn passive income for the users. We’ll discuss all these things in a while, so stay tuned.

History of KuCoin Exchange

The idea behind creating this exchange was extremely simple. The founders got together and decided to create a cryptocurrency platform that would allow traders from all around the world to trade cryptocurrencies. It was launched in 2017 when the hype of crypto tokens was at its peak. This factor played a significant role in making this exchange a success.

The First year

From the beginning, the founders of KuCoin had their priorities straight. And what was it? To provide access to cryptocurrencies that are not readily available on other platforms but have the potential to outperform any popular coin.

This strategy was a game-changer as it caught the attention of traders who were always in search of projects apart from the mainstream digital currencies. KuCoin kept its promise and listed over 100 coins just in their first year. After that the platform started to introduce new things every year to keep the users engaged.

Year 2018 to Year 2020

In 2018, they launched their native token, KuCoin Shares (KCS). Anyone who bought this token was given unique benefits such as a discount on trading fee, profit sharing and even access to exclusive promotions. The launch of this token was a starting point for KuCoin to build a strong community.

After that in 2019, KuCoin entered the Derivatives market with the launch of its derivatives trading platform, ”KuMex”. This platform is now known as KuCoin Futures and is perfect for traders who want to explore the potential of futures trading. This launch showed the world that KuCoin is here to stay and will make sure to provide so much value that it only increases in popularity.

Now the year 2020 was a difficult one for KuCoin. It experienced a security breach in September of this year which cost the platform around 275 million dollars in cryptocurrency. However they didn’t back down and worked with the concerned authorities to recover most of the stolen assets. This increased the trust that traders had on the platform.

Year 2021 to Current

After the hack KuCoin exchange continued to innovate and expand its services so the users have something else to do apart from the traditional trading. They introduced KuCoin Earn and KuCoin Spotlight for their users. In the former, users can earn interest on their assets through staking and lending. As for KuCoin Spotlight, it was simply a launchpad for new projects.

These innovations have kept KuCoin close to the biggest cryptocurrency exchanges all these years. The platform now provides services in over 200 countries and it still has the potential to grow even more.

Key Features of KuCoin Exchange

Now it’s important to understand all the features that KuCoin provides to its users. This is the section which you need to read carefully as it has all the information you might need to make a decision.

Trading Fees

KuCoin is among the few cryptocurrency exchanges that offer the lowest trading fees. And even after that the users are given two ways through which they can lower it even further. These two factors include their average monthly holdings of KuCoin’s native token, KCS, and their trading volume from the previous month.

Additionally, traders can opt to hold KCS tokens and get a discount on the trading fee as an incentive. KuCoin uses a Maker/Taker fee structure, which is the simplest one. The fee differs depending on your order. The only thing you need to know in this case is that Makers add liquidity while Takers remove liquidity.

Now the cryptocurrencies on KuCoin are divided into three classes and the fee varies for each of them. The table below shows the three classes along with the tokens that are included in it.

Division	Tokens	Maker and Taker Fee
Class A	Includes popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). At the basic trading level, known as Level 0 (LV0).	The maker and taker fees for Class A coins are both set at 0.1%.
Class B	Comprises less well-known cryptocurrencies, such as Love Coin (LOVE)	These are traded with a maker/taker fee of 0.2% at the same basic level.
Class C	Reserved for the most obscure cryptocurrencies, often with very low market capitalization, such as BURP and HIPUNKS.	Not specified as tokens in this category are less known to the general public.

But wait right here. KuCoin also charges withdrawal fees which depend on the cryptocurrency you’re withdrawing. For example, if you want to withdraw Bitcoin you need to pay a fee of 0.0005 BTC. You should keep these prices in mind while transferring your assets to other platforms.

Variety of Cryptocurrencies

This is something we’ve discussed multiple times already. This is the main feature that differs KuCoin from other typical exchanges. They have a huge number, actually over 900, of cryptocurrency trading pairs. So if you like to keep tons of different cryptocurrencies in your portfolio, head to KuCoin and fulfill your lifelong wish (just kidding).

Customer Support

KuCoin has one of the best customer service compared to other big exchanges. It offers several options through which the users can contact the support team. It includes a 24/7 live chat option so that users can get real-time help. It also has a support ticket system for queries that are not urgent.

There’s also a Help Center with all the answers you might have. Lastly, KuCoin is active on social media platforms like Twitter and Facebook. So if you have any questions, you can even message them there and they’ll surely respond as soon as possible. They also have a Telegram channel that anyone can join.

User-Friendly Interface

KuCoin focuses a lot on user experience. Because without a great experience, the users will run off to other platforms. It’s extremely easy to navigate for beginners and at the same time provides all the necessary features that an advanced trader wants from a trading platform.

If you’re new, you can watch the tutorials and read the guides to understand how the platform works and how to trade crypto tokens for maximum profitable opportunities.

Advanced Trading Options

This exchange has something for everyone. They have different trading options like Spot trading, Margin trading and even Futures trading for the most experienced and risk-taking traders.

Spot trading allows users to buy and sell assets directly while margin trading allows users to leverage their positions by borrowing some funds from the platform to get higher returns.

Lastly the Futures trading options provides users with the opportunity to trade cryptocurrency contracts with leverage. It’s best for traders who like to predict future prices through technical analysis. If you’re a beginner, we don’t recommend using this one in the beginning. You should always start from the spot market.

Security Measures

Security is one of those things which cannot be overlooked especially when dealing with sensitive digital assets. That’s why KuCoin has made it a priority to provide security which is unbeatable. They use different security measures, such as, advanced encryption technology, two-factor authentication (2FA) and regular security audits. All these things help in providing a secure trading platform.

KuCoin also has an insurance fund which comes in handy in case of hacks or breaches. After the hack in 2020, KuCoin added more security to their platform so that no such incident would ever occur to them. They also recovered the money of the majority of people and won the hearts of many traders.

KuCoin Earn

KuCoin has diversified its platform by adding more streams of income for the users. It was launched in 2021 as a staking platform where users can lock their free tokens for a particular time period and earn interest over time.

The KuCoin Earn program also includes Lending in which you and other users can lend their assets to others and earn interest. These options are a great way to earn passive income by using the tokens which are not in your use.

Gemini exchange also has an Earn program.

KuCoin Spotlight

KuCoin Spotlight is basically KuCoin’s Initial Exchange Offering (IEO) platform. It allows users to participate in token sales of projects which have the potential to multiple your investment.

Through this feature you can have early access to innovative projects and give them the ability to invest in tokens before they get listed on major cryptocurrency exchanges. This platform has helped several projects grow from ground up by raising funds and providing visibility.

API and Automated Trading

If you’re a developer or a more advanced trader then these features are for you. KuCoin offers a robust API that supports algorithmic trading and automated trading bots. By using this API, users can integrate KuCoin’s trading engine into their applications and provide users with more control and flexibility.

This feature is especially useful for traders looking to automate their trading strategies. It’s also for the ones who implement complex trading plans based on market volatility and news.

Global Accessibility and Language Support

Now we’ve discussed this once before that KuCoin is available in over 200 countries. This means that people from around the world can trade digital assets on this platform.

As KuCoin caters to a large audience, they also incorporated a broad language support. Because of this anyone can put forth their queries and get their issues resolved. Additionally, KuCoin also offers various payment methods for different regions.

KuCoin Futures Trading

It is an advanced trading platform that allows users to trade crypto futures with leverage. In simple words it’s like predicting the price of a token in the near future and using extra funds to gain higher profit.

When it was launched in 2019, it was called KuMex but now it has transitioned to KuCoin Futures rather quickly. It’s a popular choice for traders looking to take advantage of the price movements.

Leverage Options

One of the standout features of KuCoin Futures is the ability to trade with leverage. If you’ve ever heard about futures trading then you’d know why traders are a fan of leverage. It basically multiples your profit by multiple folds. However, it’s important to understand that it also increases the margin of loss.

For instance, you have $100 and you borrow $900 more from the exchange with a 9x leverage. Now when you make a gain of 1%, you’ll earn $10 instead of only $1. However you might have to pay a little extra fees for using leverage.

KuCoin futures platform offers a leverage of up to 100x which means you can use 100 times more money than your actual amount. Just use this tool with caution as many people over the years have lost their life’s savings because of it.

Types of Contracts

This futures platform offers two types of contracts. One is the Perpetual contract which doesn’t have an expiry date, and the second is the Delivery contract with a fixed expiration date.

If you like to keep your position open for a long time then you should go for the first or else the latter is good enough too. Perpetual contracts are settled every eight hours and a funding fee, which is a very small fee, is deducted from your position.

Advanced Trading Tools

You can use a variety of trading tools on this platform to manage your position and control risk. These include Stop Orders, Take Profit/Stop Loss Orders and Trailing Stop Orders.

Stop orders automatically sell or buy a position when a certain level is reached. Take Profit/Stop Loss orders allow traders to lock in profit or limit potential losses. Lastly the Trailing Stop orders allow traders to set a moving stop price that follows the market trend.

Regulatory Conditions of KuCoin Exchange

As you know KuCoin provides services around the world which is why they have to follow different rules and regulations according to the regions. That’s why KuCoin takes some steps to make sure nobody can point a finger at them.

User Verification

The platform follows important regulations like Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. These rules are important for preventing illegal activities such as money laundering and fraud.

Whenever someone creates a new account, they need to complete a KYC to make sure they’re a real trader. This KYC has a major impact on withdrawal limits and access to trading features.

Licensing

KuCoin doesn’t have any specific license for a region. But it tries to comply with the local regulations as much as possible. Even in some regions KuCoin has partnered with the local companies to provide a legal trading platform. Through this approach KuCoin reaches more users.

Restrictions in Some Regions

Due to some laws crypto is banned in a few regions. That’s why KuCoin makes sure their services are not to be used in those areas. All of this hassle is to ensure compliance with international laws.

Violation of Anti-Money Laundering Laws

In recent news, the U.S. The Department of Justice (DOJ) has accused two KuCoin founders of violating anti-money laundering laws. They said that U.S. citizens were using KuCoin but the platform failed to report that to the concerned authorities.

The DOJ further said that KuCoin made transactions of over $4 billion in suspicious funds and avoided AML and KYC requirements until July 2023. However when they got to know that a federal investigation was taking place, they implemented the KYC program to look legit.

This thing didn’t sit well with the DOJ which is why this case is still pending. There’s one more thing that’s important to mention here that KuCoin recently settled with the New York Attorney General for $22 million and promised to stop operations in New York.

What Can KuCoin Improve?

Even though KuCoin is popular and a favorite of many traders, there’s still one area in which this exchange can improve.

Everyone knows that KuCoin is not allowed to operate in the U.S. so this exchange can make some efforts and secure a U.S. license to increase the user base. This way the American users can use all the services available on KuCoin.

Conclusion – Is KuCoin Good for You?

So that was it from this guide. We made sure to cover everything about the KuCoin exchange. Now the only question that remains is if this platform is good enough for you. In our opinion, because of the vast features and hundreds of altcoins, KuCoin is perfect for any trader around the world.

If you’re in search of a platform which offers a variety of tokens and implements strong security measures then KuCoin should be your first choice. In the end it all falls on your shoulders. You can go through the features section again if you’re still unsure.

FAQs

Is KuCoin safe to use?

Yes absolutely. Apart from the unfortunate event of 2020, KuCoin is one of the safest cryptocurrency exchanges. They use multiple security measures like advanced encryption, 2FA and an insurance fund to keep the users’ fund secure.

Can I use KuCoin in the United States?

Yes, if you’re living in the U.S. you can access KuCoin. However there are a few limitations as this exchange is not fully legal in this region. It doesn’t have a license to operate in the United States which is why it implements restrictions on some features and withdrawal limits.

What are KuCoin Shares (KCS)?

KuCoin Shares (KCS) is the native cryptocurrency of the KuCoin exchange. It can be quite beneficial to hold KCS tokens as it reduces the trading fees and also provides the option of profit sharing. By using KCS you can also participate in exclusive promotions.

Does KuCoin offer staking or earning programs?

Yes, KuCoin offers staking and lending programs through KuCoin Earn. Users can stake various cryptocurrencies to earn rewards or lend their assets to earn interest. These programs are a great way to earn passive income.

Is there a mobile app for KuCoin?

Yes, KuCoin has a mobile app available for both iOS and Android devices. You can use a full range of features in the app. These include trading, deposits, withdrawals and customer support. by using the app, tradera can manage their accounts from anywhere, even while on a trip.