KuCoin Review – Is kucoin.com Worth Trading?

kucoin review

KuCoin is a cryptocurrency exchange which is located in Hong Kong. It was started on September 15, 2017 and it operates on a crypto-to-crypto basis, which directly means no more fiat currencies are supported. The platform utilizes KuCoin Shares (KCS) just like Binance.

It was founded by a group with a passion for blockchain who had already built up the good reputation as industry leaders, including GF Securities, Ant Financial, Youling, Jianbang Communication, along with iBOX PAY. Kucoin always aims to provide users with a secure and straightforward way of boosting their investments on a platform

KuCoin Overview

  • Business model: Crypto Currency Exchange
  • Symbol: KCS
  • Coin type: ERC20
  • Token benefit: Owners will earn a share of revenues which come from exchange fees.
  • Current issuance: 200 million, of which 100 million by the team and advisors. The founders and advisors will be locked until Sept 2018 and Sept 2021 respectively.
  • Value: Good Customer service, Secure platform, Bank-level encryption

Kucoin Customer Support

Customer support for Kucoin is very nice, having various ways of communicating with the support team. Their Support is accessible 24/7, and team members resolve any issues in a short interval of time. You can email at [email protected] or contact support via the website. Along with troubleshooting as well as answering questions, the support team is willing to work on to suggestions, as Kucoin loves to take user preferences to heart and work on them.

Is Kucoin Safe?

Kucoin is really safe to work with thanks to safety efforts on both basic and operational level. On the basic level, Kucoin was made using financing-level criteria. Including standard transfer encryption protocol for data transfer layers, which means that all the sensitive information and user data will be saved on data encryption on a bank level. There's also multifactor authentication for extra safety. At the operational level, Kucoin includes an internal risk control dept and one for operational procedures.   All those departments have its accurate criteria for working and utilizing data. The only concern regarding security is the Kucoin system still remains relatively new and hasn't yet proved itself to be protected. The huge experience of its team together with the many safety features in place must be sufficient to ensure the protection of the system.

KuCoin Advantages

Competitive fees

Similar to many other exchanges, KuCoin charges trading as well as withdrawal charges, whereas cryptocurrency deposits are free of cost. Here is the strategy of a number of different exchanges. On the other hand, the prices of KuCoin are extremely competitive and they will charge a 0.1% commission from each transaction, both by the manufacturer and beginners. On the other hand, fees on Poloniex starts at 0.15 percent and also Bittrex at 0.25 percent. Moreover, as I said, you will find discounts for people who hold KuCoin Shares.

Many cryptocurrencies offered

Although kucoin was launched in September 2017, KuCoin offers a good number of coins for trading (about 80), and kucoin keeps on adding new ones. On their official website, pairs are mainly grouped into 5 basic categories: BTC, ETH, NEO, USDT and KCS markets. It became the first exchange to start trading in the RedPulse token (RPX).

Good platform with advanced charting

KuCoin has made an internet-based trading platform having the nice design and some excellent charting with special indicators, powered by TradingView. Also, mobile applications for Android as well as iOS are now coming soon, also accessible in beta version. Here is a snapshot of KuCoin’s platform:

Promotions Available

The KuCoin team recognizes the significance of inviting users to their program and they also offer huge promotions – discount choices for those keeping its KCS token, best traders bonus promotion, and there is also a referral program.

  • A Refferal Program – KuCoin also offers a very powerful referral plan that could surprisingly help to grow the platform. With the help of KuCoin’s scheme, you get 20% of the transaction fees of everybody you refer, that is a moderately generous bonus for bringing new users to the platform.  KuCoin will also give 12% of the fees gained from the customers referred by that user to you, and if this 3rd generation user invites anybody to KuCoin’s platform, you will get 8% of that person’s transaction fees.
  • Discount Option – while using their KuCoin Shares you get up to 30% commission on trading fees.
  • Top Traders Bonus Promotion – Users will gain special bonuses if they trade in the available exchange pairs and gain ranking by quantity in the top 3000.

 

Concerns Regarding KuCoin

  • KuCoin is HongKong based, since it is not part of the business administration of China, kucoin does come under Chinese rule.
  • KuCoin will also not be a fiat gateway
  • Exchanges are a comparatively very competitive market. KuCoin should work hard on their rival edges to make this a profit.
  • Many pairs are already trading in secured markets, with key market makers satisfied with the level of protection these exchanges give
  • KuCoin could have served from a name that represents their value proposition better.

Conclusion

Kucoin has an easy to use interface that concentrates in making trade easy. There are a number of perks of trading on KuCoin: it is a cheap and advanced platform, trading volumes on most assets are good, and besides, there are various promotions running. On the other hand, fiat currencies are not recommended, and the knowledge about the company owning and operating the exchange is limited to its Hong Kong headquarters. Moreover, it is not supervised by any other authority. The legal status of crypto-exchanges is still not clear.

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