KuCoin Crypto Exchange Review 2023: Is It the Best Exchange For You?

An Overview

Seychelles-based well-known cryptocurrency exchange KuCoin was launched in 2017. It’s been around five years since KuCoin is serving 12 million crypto users in more than 200 countries. Due to its dynamic and user-friendly features, it is also known as ‘The People’s Exchange’.

KuCoin.com is a centralized crypto exchange that made cryptocurrency trading and investment so easy that even novice traders can benefit themselves by trading or investing through this platform. CoinMarketCap’s data reveals that KuCoin offers 1000+ trading pairs from which 51 trading pairs support the fiat currencies.

KuCoin trading platform doesn’t only attract the attention of professional institutional and individual crypto users but also benefits new users with little or no trading experience. So, if you are looking for such a cryptocurrency exchange with lower risks and higher ROI potential, KuCoin is the best option for you.

Features of KuCoin Crypto Exchange

KuCoin.com cryptocurrency exchange is also called ‘The People’s Exchange’ for its dynamic features. Such distinguished features have gathered much fame for the exchange in the last couple of years. Check the below features of the KuCoin exchange and make the right decision for investing and trading your digital assets.

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• Margin Trading

KuCoin’s leverage trading is unique and attractive for margin trading. It’s important to know that margin trading is risky and better for experienced traders. If you’re new to this, there’s a guide to help you stay safe while margin trading in crypto.

• KuCoin Token

Ownership of KuCoin’s native token KCS offers users big trading fee discounts. Moreover, KCS holders get a share of the exchange’s daily trading fee earnings.

• kuCoin’s Trading Bot

KuCoin’s trading bot is free to use. It automatically follows your trading plan. KuCoin has over 6 million active bots to assist beginners and learn from experienced traders.

• Crypto Lending

KuCoin crypto lending allows you to lend your crypto to margin traders for interest. Lenders must keep some collateral because they are insured in case of mishap. It’s a smart way to make extra money from your crypto.

• KuCoin’s Demo Account for Trading

KuCoin offers a Demo trading account for new users. This feature is beneficial for beginners as they can learn trading strategies without risking real money.

 KuCoin Supported Cryptocurrencies

KuCoin.com cryptocurrencies support 600+ cryptocurrencies including significant digital assets like Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), Polkadot (DOT), Shiba Inu (SHIB), Ripple (XRP) and many more. KuCoin offers 1000+ trading pairs from which 51 trading pairs support the fiat currencies i.e., EUR, CAD, NZD, CZK etc.

Accounts of KuCoin

KuCoin trading platform eases the crypto community at its best and educates them to learn through demo accounts and then earn through the actual accounts. Moving forward, Kucoin has five account types which we can use according to our needs.

• Main Account: This account is for simple deposit, withdrawal and storage of digital assets
• Trading Account: This is a spot trading dedicated account
• Futures Account: As the name suggests, it’s for future trading
• Margin Account: This is for margin trading-based account
• Finance Account:  This account is best for staking and soft staking

Fee Structure of KuCoin

KuCoin has a different fee structure for turning fiat into crypto and vice versa. When you buy crypto using fiat, it’s fee-free. But when you withdraw, turning your crypto into fiat, you’ll be charged a fee based on the amount you’re withdrawing.

Pros and Cons of the KuCoin Trading Platform

Pros:

• Wide range of supported cryptocurrencies
• Different types of accounts according to the customer’s needs
• Low trading fee
• No month-based account fee
• Suitable for both novice and experienced traders

Cons:

• Website interface is a bit complex
• Hacked in 2020 and 2023
• Not licensed in the United States

Conclusion

In short, KuCoin is the best choice with low fees, user-friendly design, enhanced security, and features for users of all levels. Whether you’re a beginner or a crypto pro looking to change exchanges, KuCoin is worth consideration.