KuCōin® - Login® & Review: Beginner's Guide (Updated 2021)
Pros Explained
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 20 million users and a presence in more than 200 countries.56
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. The exchange has also had regulatory issues in countries like The Netherlands and Canada.7
When FTX fell in November 2022, a lot of users rumored that KuCoin had significant exposure to FTX.8 KuCoin CEO Johnny Lyu assured users that it had no exposure and wasn't connected to FTX in any way. In light of those events, KuCoin released a Proof of Reserves like other crypto exchanges to solidify user trust.9
Cryptocurrencies Available KuCoin offers over 700 cryptocurrencies for users to buy, sell, and trade.2 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:
- Ability to earn interest on crypto: KuCoin users can earn interest on their crypto by staking certain assets or lending them to others and charging interest. Earning rewards on your crypto can help you build a larger portfolio.
- Wide selection of cryptocurrencies: Unlike some exchanges that offer a few dozen cryptocurrencies available for trade, KuCoin offers over 700.2
- Low fees: Compared with other major exchanges, KuCoin offers relatively low trading fees. Users can expect to pay between 0.005% and 0.10% per trade, and a 20% discount on trading fees is offered when using its token, KuCoin Token (KCS).34
- Not licensed in the U.S.: KuCoin is not licensed in the United States, so U.S.-based users should consider other exchanges.
- Poor user reviews: While negative reviews are common with crypto exchanges, KuCoin’s user reviews are especially poor. Reviewers report problems with withdrawals, customer service, and issues with market manipulation.
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 20 million users and a presence in more than 200 countries.56
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. The exchange has also had regulatory issues in countries like The Netherlands and Canada.7
When FTX fell in November 2022, a lot of users rumored that KuCoin had significant exposure to FTX.8 KuCoin CEO Johnny Lyu assured users that it had no exposure and wasn't connected to FTX in any way. In light of those events, KuCoin released a Proof of Reserves like other crypto exchanges to solidify user trust.9
Cryptocurrencies Available KuCoin offers over 700 cryptocurrencies for users to buy, sell, and trade.2 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)