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KuCoin Review: Your Ultimate Crypto Trading Galaxy

KuCoin Review: Your Ultimate Crypto Trading Galaxy

Looking for a game-changing crypto exchange? Our detailed KuCoin review shines a light on its superior trading tools, security features, and more. Read on.

Step into the world of KuCoin, a powerhouse in the crypto trading universe. Our review unveils its unique products, cost-efficiency, and top-notch security.

Blasting onto the scene in 2017, KuCoin has rocketed to crypto stardom as one of the premier global trading platforms, empowering over 20 million users across 200+ countries to harness the power of digital assets.

Now, KuCoin ranks among the top five crypto exchanges worldwide, fueling trading, margin, futures, P2P, staking, lending, and more! With lower fees than some rivals, it's a compelling choice. But! And here’s where it gets tricky— although US users can still open KuCoin accounts, functionality is partially restricted without local licenses — a potential risk if future regulations obstruct withdrawals.

Alright, let's blast off and explore everything this crypto juggernaut has to offer, including what US customers can and can't do.

User Interface

Trading crypto on KuCoin is a breeze thanks to its smooth, user-friendly design packed with powerful tools to maximize your trading potential! One super slick feature is the customizable charts — decked out with a smorgasbord of trading tools on the left and indicators atop.

Pic. 1. KuCoin’s interface.
Pic. 1. KuCoin’s interface.

But KuCoin's interface has way more tricks up its sleeve! You can completely tailor your panels to match your groove by moving, resizing, merging, hiding, floating, or splitting them. Access all your vital intel arranged just how you want!

Plus, easily revert to classic mode by hitting [Classic] top right. And toggle between [Manual] and [Bot] tabs to switch between manual trades and automated bot trading — more on that later!

Pic. 2. KuCoin’s classic interface. 
Pic. 2. KuCoin’s classic interface. 

KuCoin's sleek modern style flows throughout, with news and trading intel at your fingertips. Executing trades is a total breeze — just punch in your price and amount under [Place Order], smash buy or sell, and blast off! Once your order is filled, it appears under [Open orders] in the center so you can monitor progress. Completed trades land under [Order History] next door — your success record! You can also review entire transaction histories, with everything clearly organized for your crypto trading pleasure!

Available Trading Pairs on KuCoin

KuCoin is packed to the gills with an epic selection of 718 coins and 1252 trading pairs! You'll find their native token KCS plus all the usual heavy hitters like BTC, ETH, NEO, USDT, ADA and tons more. No matter your crypto needs, KuCoin's got you covered with one of the widest ranges of assets around.

Trading Volumes on KuCoin

KuCoin is on fire with a whopping $176 million in 24h volume. The hottest trading pair is BTC/USDT with $39 million changing hands in the last 24 hours. KuCoin is also packing a massive $1.8 billion in exchange reserves, ready to fuel even more epic growth and profits.

KuCoin Fee Structure

Like all exchanges, KuCoin charges small fees for trading and withdrawals — but deposits are totally free. Withdrawal fees are fixed amounts to cover network payments, for example 0.0001 BTC for bitcoin via TRC20 or 0.005 ETH for ether via ERC20.

Pic. 3. KuCoin withdrawal fees.
Pic. 3. KuCoin withdrawal fees.

But check this — trading fees start at just 0.1%/0.1% at LV0, some of the lowest around!

Pic. 4. KuCoin trading fees.
Pic. 4. KuCoin trading fees.

As you gain VIP levels, fees get even sweeter. Between free deposits and micro-fees for trading and withdrawals, costs are barely an afterthought with KuCoin.

KuCoin Security Policy

When your assets are on the line, security is everything! That's why KuCoin leverages cutting-edge tech to lock down platform security, safeguard user assets, and protect privacy.

KuCoin's fortress of security includes industry-leading encryption, storage, multisig technology, advanced private key management, 24/7 monitoring, rigorous auditing, penetration testing, and robust architecture.

With so many serious measures, your funds are ultra secure. But for total peace of mind, always enable 2-factor authentication — the icing on the bulletproof security cake baking up non-stop protection.

KuCoin and US Customers

Unfortunately, KuCoin lacks the required licenses to operate in the U.S., preventing U.S. users from undergoing standard Know Your Customer (KYC) procedures. As a result, U.S. users can trade cryptocurrencies on the site, but their accounts remain 'unverified', limiting access to certain features.

Despite these restrictions, KuCoin is a viable platform for U.S. traders with existing cryptocurrencies looking to trade less common ones. It's one of the few platforms that allows U.S. users to leverage a margin account for cryptocurrency trading, and provides a 20% discount on trading fees when using its native KuCoin Token (KCS).

However, U.S. users should be aware that without KYC verification, their accounts may have lower security levels than international ones, as KuCoin does not afford the same protection against fraud and hacking to unverified accounts.

In short — KuCoin rocks for US crypto traders seeking uncommon assets and margin trading perks. But the lack of verification and licensing limits security and functionality. So while KuCoin can complement your crypto investing, it isn't a one-stop-shop for American users.

KuCoin Know Your Customer (KYC) Policy

KuCoin recently enhanced their Know Your Customer (KYC) protocols by implementing compulsory identity verification for all new users starting from August 31, 2023.

Even existing users must complete Know Your Customer (KYC) to unlock specific features. While this means restrictions on new deposits for unverified users, withdrawals (and a plethora of other services) stay untouched.

For a successful KYC procedure, users are required to submit their name, identification number, a photograph of their identification, and undergo facial recognition. While identity verification will bolster security for many KuCoin traders worldwide, the effect on unlicensed American customers remains uncertain.

But stay tuned — with KuCoin's history of crypto innovation, they may craft creative solutions to continue empowering their US community.

Manual and automatic trading bots on KuCoin

KuCoin fires on all cylinders for automation lovers. As noted, you can effortlessly toggle between the [Manual] and [Bot] tabs on the platform to alternate your trading mode.

KuCoin's native trading bots make automation a breeze (Pic. 5) with GRID for spot and futures, Infinity GRID for bulls, Martingale, Smart Rebalance, and DCA. Whether you're looking to minimize losses, maximize profits, or just take the work out of trading, KuCoin's bots have your strategy covered.

Pic. 5. Bot options for spot on KuCoin.
Pic. 5. Bot options for spot on KuCoin.

But wait, there's more! KuCoin's APIs allow connecting third-party trading bots for even more automation firepower. For example, you can integrate Bitsgap and its loaded arsenal of smart trading tools and bots like GRID, DCA, and BTD. These advanced bots can outperform even KuCoin's strong built-in versions.

With KuCoin's own bots plus limitless integrations, you'll have an entire army of robo-traders at your command! Automate trades precisely as you want, then kick back as the bots maximize profits around the clock. Why trade manually when you can let technology do the heavy lifting?

How to Create an API key on KuCoin and Connect to Bitsgap?

This is how to create, configure, and connect your Kucoin API key to the Bitsgap platform.

  • Kick-off by logging into your Kucoin account or set up a fresh one if you haven't done so.
  • From your account settings (found in the top-right corner), make your way to the [API Management page].
  • If you're a first-time user, KuCoin will prompt you to enable two-factor authorization and establish a trading password.
  • ​​Sign into your Bitsgap account, head to the [My Exchanges] page, and click the [Add new exchange] button to progress.
  • To snag a list of trusted IPs, hit the "Copy" icon and store the addresses safely (for instance, in a notepad). We'll need these IPs later when setting up your API permissions.
Pic. 6. Copy Bitsgap’s IP addresses to whitelist them later on KuCoin.
Pic. 6. Copy Bitsgap’s IP addresses to whitelist them later on KuCoin.

Upon clicking the [Create API] button, christen your API key with a unique name (at your discretion), to easily discern its connection to your Bitsgap account.

Customize your permissions as shown below. These permissions grant us access to your history, current balance, and allow us to execute trades on your exchange account.

Pic. 7. Edit your permissions as shown above.
Pic. 7. Edit your permissions as shown above.

Enter your Trading password, Email verification code, and 2FA code, then click the [Confirm] button.

Voila! Your Kucoin trading key is successfully created and primed to connect to our platform! Please, copy your API key and Secret key safely before adding them to Bitsgap.

Navigate back to Bitsgap > My Exchanges. In the dialog box that appears, carry out these steps: Select KuCoin; paste your API key, Secret key, and Passphrase; hit [Connect].

That’s it! Ready to connect to Bitsgap and take our bots for a spin?

Bottom Line

KuCoin offers epicly low fees for trading a ginormous selection of cryptocurrencies. Plus, it provides a sweet 20% discount on trading fees when using its native token, KuCoin Token (KCS). A downside — the lack of US licensing. So while American traders can join the party, accounts stay "unverified" with limited access. But the fees and assets still kick major booty! Just be advised KuCoin can't be your sole crypto platform without that verification for US folks.

FAQs

What Are KuCoin Trading Bots?

KuCoin Trading Bot is a complimentary software that lets you put your cryptocurrency trading on autopilot. KuCoin offers a variety of strategies such as Spot Grid, Dollar-Cost Averaging (DCA), Futures Grid, Smart Rebalance, and Infinity Grid.

What Is KuCoin API Trading?

When it comes to the electrifying world of cryptocurrency trading, an API allows you to plug your trading algorithm or bot right into the exchange. KuCoin's API is a secure and streamlined bridge for developers to connect their trading applications with the KuCoin trading platform. It's your passport to automated trading, liberating you from the time-consuming task of manually placing trades or using the limited number of exchange’s native bots. For instance, you have the option to link with Bitsgap or any other advanced cryptocurrency trading platform, enabling you to harness the power of more sophisticated trading bots.

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