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KuCoin is a cryptocurrency exchange that operates in over 200 countries. While experienced traders might appreciate some of this exchange’s features, KuCoin isn’t licensed in the U.S. and has received poor reviews from users.
Pros
- Ability to earn interest on crypto
- Wide selection of cryptocurrencies
- Low fees
Cons
- Not licensed in the U.S.
- Poor user reviews
Kucoin
Introduction KuCoin is a large cryptocurrency exchange offering the ability to buy, sell, and trade cryptocurrencies. In addition to basic trading options, the platform offers margin, futures, and peer-to-peer (P2P) trading. Users can also choose to stake or lend their crypto to earn rewards. Compared to some competitors, KuCoin offers low trading fees, making it an attractive option. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Company Overview Launched in 2017, KuCoin is a crypto exchange headquartered in Seychelles. Since its founding, it’s grown to be one of the largest global exchanges by trade volume, and it now has over 10 million users and a presence in more than 200 countries. While U.S. users can sign up for a KuCoin account, access to features is limited because KuCoin isn’t licensed to operate in the United States. Given this, signing up for an account could present some risks. For instance, if U.S. regulators decide to crack down on KuCoin, you might not be able to withdraw your assets. Cryptocurrencies Available KuCoin offers over 600 cryptocurrencies for users to buy, sell, and trade. Those looking for a wide selection of assets may appreciate what this exchange provides. Here’s a partial list of cryptocurrencies that are currently available on KuCoin: Bitcoin (BTC) Dogecoin (DOGE) Ethereum (ETH) Polkadot (DOT) Shiba Inu (SHIB) XRP (XRP) Trading Experience KuCoin users can access their accounts through an online portal or mobile apps, available for Android and iOS. Both its desktop site and mobile apps offer an abundance of features and tools. Once logged in on desktop or mobile, KuCoin users can click to view markets, buy crypto, trade, lend crypto, and more. The platform supports four order types—market, limit, stop-limit, and stop-market. Margin, futures, and P2P trading are also available, which could be a plus for certain users. Additionally, KuCoin supports staking and recently introduced a Trading Bot feature to help simplify the trading process; it essentially acts as a robo-advisor for your cryptocurrency portfolio. While this exchange offers many options, its desktop and mobile platforms aren’t particularly user-friendly. That said, the site does offer a decent help center where users can find answers to common questions. Beginner crypto traders will likely be overwhelmed by the many tools and features KuCoin offers. If you’re new to crypto, consider a more user-friendly exchange that’s slightly easier to navigate. Fees KuCoin offers a tiered maker/taker fee model, with trading fees ranging from 0.0125%-0.1%, depending on your tier level. Its fees are relatively low compared to competitors, which may charge up to 0.50% per trade. Users can also get trading fee discounts based on their KuCoin Token (KCS) balance. In addition to trading fees, KuCoin also charges withdrawal fees that vary by asset and are subject to change based on market performance. Deposits are free on this exchange, but it’s important to note that KuCoin offers limited options for fiat deposits at this time.
Scam! they asked for KYC when I tried to withdraw. and I can not provide any.
as they had mentioned no kyc needed for less than 5btc and now I cannot remove my money from this company.
Do not put your money in there
RUN FOR THE HILLS! Just got illegally liquidated at around 70-75% with no email/text to notify me about anything. Their liquidation is advertised at 97% but that is far from the truth. They will liquidate you well before your margin call threshold. I still have yet to find 1 food thing about this platform. My lawyer already said with no email/text notification that they are in hot water and that he has had many customers reach out to him regarding the same topic. DO NOT USE EVER!!!!
Sometimes it’ll be difficult to tell how good or bad an exchange is until you see it. I’ve used KuCoin to conclude that user reviews might actually be useless because many people out of their own mistakes and inexperience will end up giving a bad review to a good exchange. As a matter of fact, KuCoin is on the top of their game in Cryptocurrency business. One of the lowest fees you can ever get. I’ve had zero issues with KuCoin for about 3 years now.
Funds vanished after transfer..
Deposited crypto for it to never arrive, three weeks later I’m still chasing it up with their customer support who repeatedly ask for the same information, which I repeatedly hand over.
Finally had enough and threatened legal action, funds appeared in my account within a couple of hours..
Disgusting company worth staying far away from. Hidden withdrawal requirements, steep fees, dishonest service..
Date of experience: April 08, 2021
It’s unfortunate to see all the negative reviews on here for KuCoin, but I guess there will always be the classic issues with exchanges (KYC, withdrawal, banking). I’ve been using KuCoin for only a bit over a month but I’ve had a pretty good run so far. When I discover new coins that I am interested in, there’s a decent chance that it is already listed on there! Customer support is a tad slow, but you do get an answer eventually (I’d say ~1-3 days). I will be using KuCoin as one of my primary exchanges.
Scamming Crypto Exchange! Stay Away!
Scammers! They told me my transaction was lost and could not be tracked because I forgot a memo number, which I didn’t. And then emailed me telling me they can track it and get me my funds for a $30 fee. So, let’s get this right. Something that was untraceable can now be found for a fee. F out of here. Stay away if you don’t want to lose your money. One thing it took them 3-4 weeks to respond with he above bs. F KuCoin!
I lost money due to the server failure of Kukin, and I inquired about it, but I received an email only two weeks later. I answered right away, but I received an answer only seven days later, and I offered a small amount of compensation, but it was less than half of the actual damage. So when asked if this amount was the actual amount of damage, I received an e-mail that sounded like a threat that the process could be delayed if I did not receive this offer.
it has been over a week and my usdc is still not deposited, ku coin is a risk you may not want to take, my funds have been stuck for over a week, try atomic wallet greta customer service, ku coin is crap
Why is it that I can write you guys an email in support and get no response OR I sit in support, as I am now, and no one answer? At one time, it would tell me that 800 people were ahead of me so I would walk away for 30 minutes, to come back and see that I still have 740 people. Stay away an hour and you guys allow your system to disconnect from lack of activity. Does Kucoin believe they hold a monopoly and can treat folks any type of way?
Only stupid people would review KuCoin badly, maybe they lost money trying to gamble on leverage or futures. Overall KuCoin has been very good to me. Their Trading bots are bad but the overall exchange is quick and the lowest fees ever. Hopefully KuCoin stays around for a long time.
Kucoin does not support, responses are automated. The Maker/Taker fee is not respected, they charge U$ 2 to start operation and another $ 2 to finish. The Margin Call (liquidation price) is always wrong, when 5x settlement is 14% instead of 20%, when 10x settlement is 7% instead of 10%, when it does 20x settlement is 2, 73% instead of 5%, when 100% the settlement margin is 0.2% instead of 1%. I WOULD NOT RECOMMEND Kucoin to anyone!
Manipulating the market isnt cool. I closed my account and took my $$$$ elsewhere.
I personaly am using kucoin for over a year only for spot trading and so far its been great. Absolutely no issue in deposit and withdraw even though i havent done KYC and i do pretty big amounts too with no problem. I even made a 4x on kucoin coin so love everything about it. Keep up the good work.
Transfered tokens to exchange but they failed to add them to my balance.
I requested them to send my tokens back if they can’t deposit them.
It’s been 3 days and no news from them.
Poor customer service 😔 !
It’s not about their trading platform which is OK, it’s about their AI trading bot. I tried it few times but never generated any positive result. It seems that the system is “rigged” against you. Who knows may be there are people who generated profit with it.
I BOUGHT 400 SFUND COINS A WHILE AGO, WHEN WANTED TO SELL IT I REALISED THAT 80 COINS DISSAPPEAR.!!!!!!!!!!!
EMAIL THEM SEVERAL TIMES, NO ANSWER YET
Kucoin will be taken legal action against in the future! They steal people’s money, liquidate people while shutting their servers down so you won’t be able to close any running positions, and also higher or lower your leverage once you make profits or loss. This exchange will be shut down in the future, enough complaints legal action has to be taken.
I deposited a couple of hundreds of ETN (electroneum coin) and i exchanged them for a fraction of bitcoin. I received 0.00014454 btc (9$) for my ETN coins and now they won’t let me to withdraw my money because they have a minimum amount to be withdrawn which is 0.001 and when i joined their Telegram group and i said this on the group i was immediately banned. Stay away, they are PROFFESIONAL SCAMMERS
Kucoin is unregulated (Chinese), Manipulated & EXPENSIVE TO USE!
I used DCA (From 3 commas) & their Ai – Spot Grid to automate my trades…..I invested 8k ….over the course of a month. the DCA / Ai bots should yield at least 20 -30% profits….
For the life of me i could not figure out why my Kucoin balance remained stagnant or at a loss..
I carried out an export of all of my Kucoin exchange transactions and SUPRISE SUPRISE…in one month they have charged me (USDT) $4850k in FEES ALONE!!
Like wth??? the maximum fee i paid on one (of thousands) of transactions was $19 !! (on a coin worth 2k).
Kucoin is only good for buy…. hold…forget then withdraw…. DO NOT make many transactions and most importantly do not use their DCA or Spot Grid Features as “The House Always Wins”
I have an account with Kucoin where I invested in two assets.
To my surprise, one of my assets has been liquidated without any action on my part or consultation from Kucoin.
The help chat is useless.
I am now closing this account.
Beware, the network error 409 you whenever your margins get close to liquidating so you can’t readjust. I’ve his it log me out mid transfere causing a $3000 liquidation. Trading bot system is a scam, nobody wins, their stats board is fake. Withdrawl fees are too high, and over all just a bunch of 3rd world low life’s leeching money out of people that produce for society whilst trying to invest for a better future.
Started to use KuCoin a few weeks ago, when reading all the reviews here I am getting worried, until now I didn’t try to transfer my funds again and really hope it’s not gonna be a problem, but 1 thing I am already sure about, there Bots, DONT USE THEM OR YOU GET SCAMMED, they are the worse Bot’s I ever used, and if you make 20% profit and stop it, you loose already 15% of your money just by stopping, even if you don’t know anything from Crypto, better just to gamble than with normal Spot than using there Bots and seeing your money disappear !! Just hope now that I won’t get robbed of my funds with using simple Spot trading.
Legal action against Kucoin Crypto Exchange – I am having a real problem with Kucoin
I am having a real problem with Kucoin. I am starting to question their honesty. I sent a test run of LUNA to my wallet. This was deposited successfully. Then I sent the whole lot, a significant amount, and the coins never reached my account. How do you explain that ? It was the same wallet address !
It has been almost one month, and Kucoin has done nothing to help me. Their support is non existent Already 7 different people have picked up my emails and no-one has resolved the problem. Their answers are evasive, and contradictory. I am been kept in the dark. No explanation as to what may have happened.
They seem to know something they are not telling me about!
LUNA is offered as a leveraged coin and is offered for lending on their exchange. I am led to wonder whether they manipulate coins i.e. whether their computers are programmed to redirect deposits valued over a certain amount.
I am considering legal proceedings i.e. a class action against Kucoin Exchange. In the absence of government regulation, consumers must seek redress in the legal system. I am a real person. My ticket number are 1275265 and 12116694
Watch out, this is a scam! Made an account in 2017. Bought coins that are now booming. However, I can’t access my account and they refuse to help me even after sending all passport details and login information. They also blocked withdrawel. Never choose for Kucoin, always go for binance, coinbase or any other valid company
They kept my EOS coin! Won’t deposit it into my acct!
An EOS deposit into my kucoin wallet missed memo, so now kucoin is keeping my coin. Won’t put it in my kucoin wallet even after showing them records of the transaction proving I am the owner. They replied saying they’ll return it to my source wallet BUT without a memo. That translates to “you’re not getting your coin back ever”. That means they essentially keep it. That is the KUCOIN exchange. They hope you make a mistake so they can keep your coin. Wow. Glad there’s binance.us and other crypto exchanges. Don’t do biz with kucoin. Stealing from customers? Not right.
Slow customer support, they do not replay to any inquiries. Kraken is a lot better choice!