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KuCoin
RankKuCoin
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Volume (24h)
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KuCoin
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KuCoin is a Chinese cryptocurrency exchange that mainly serves foreign clients. This flexible, ergonomic platform has a serious team, and regularly offers the development and addition of new cryptocurrencies. 

The exchange was launched in September 2017 by its founder, Michael Gan, and it quickly gained popularity, rising to the top 20 in terms of volume in a few months (source: CoinMarketRate.com). The platform includes the distribution of GAS dividends for NEO token holders.

The original goal of the founders was to create a secure and easy-to-use platform that would allow people around the world to trade a wide range of crypto assets.

The goal of KuCoin is to become one of the top 10 exchange platforms. Since its launch, KuCoin has never experienced major problems. You can access the site from a desktop computer or from a smartphone app.

KuCoin is an exchange of cryptocurrency only for cryptocurrency, so you will not be able to buy crypto assets for fiat money (dollars, euros, rubles). On the other hand, you can deposit Bitcoin, Ethereum, or any other cryptocurrency that will be listed on KuCoin, and then exchange it for other cryptocurrencies.

There is also a special cryptocurrency for this network: KuCoin Share (KCS). This token allows its holders to receive discounts on the purchase / sale costs and receive a portion of the profit received by the company.

Token KuCoin Shares (KCS)

KuCoin Shares (KCS) is a proprietary token of a crypto exchange that bears some resemblance to BNB Binance (Binance Coin). KCS holders receive a portion of the fees collected by the platform each day. In fact, 50% of the fees collected by the exchange are returned to the token holders. This is an interesting way to generate passive income for people who use the so - called retention strategy-stacking.

KuCoin currently supports 5 crypto pairs: Bitcoin (BTC), Ethereum (ETH), Neo (NEO), Tether (USDT), and KuCoin Shares (KCS). This means that you have the opportunity to trade directly between these 5 pairs, and other cryptocurrencies. Example: REQ / ETH, DRGN / ETH, EOS / NEO ...

The KuCoin exchange platform is the only one where you can find the KCS token.

There are two advantages to using KCS tokens:

  • percentage of profit received by KuCoin
  • the discount on the transaction fee.

To fully use the platform, you do not need to have a verified account. 

Fees

Fees on the platform are also quite reasonable and lower than on many other exchanges. Deposits are free of charge and have no restrictions on the amount. 

Holders receive a 1% discount on trading fees for every 1,000 KCS they hold, but no more than 30%.

A 0.1% fee is charged for each transaction, which is small compared to competitors. You can withdraw up to 50 BTC per day, this should usually give you a small margin.The fees applied to withdrawals vary depending on each cryptocurrency.

Many platforms have very competitive trading fees, but compensate for them when exiting by charging a large commission for withdrawals. KuCoin charges a withdrawal fee of only 0.0005 BTC when withdrawing cryptocurrency. These fees are lower than the industry average.

As such, KuCoin's fees are generally much more competitive than most of the other major cryptocurrency exchanges on the market.

Trading Characteristics

KuCoin has firmly established itself in the market of trading platforms, especially thanks to its profitable strategy of owning its own cryptocurrency. It is built in such a way that buyers who want to hold non-expensive crypto assets can consider buying KuCoin coins. 

In addition to this, the Chinese platform KuCoin offers a set of useful charts that work on the TradingView system to satisfy more targeted cryptocurrency holders.

The main disadvantage of Kucoin is that it does not allow you to buy cryptocurrency for fiat currencies. You will need BTC or ETH, or any other cryptocurrency that you need to first send to KuCoin to trade the entire available set of coins.

KuCoin also claims to have the most advanced API on the market. The trading engine can process 2 million orders per second, which means that this statistic is hundreds if not thousands of times higher than the industry standard. Consequently, there is no delay in the system during the transaction, even if the platform encounters a significant spike in activity.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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