Kucoin, the cryptocurrency exchange platform

Are you considering investing in cryptocurrencies? This type of investment requires an understanding of how exchange platforms work. Read our guide to KuCoin, one of the most popular exchanges.

Launched 4 years ago, KuCoin has become one of the favorite exchange platforms for cryptocurrency traders. This Hong Kong-based exchange stands out from its competitors thanks to its services. Its users particularly appreciate the wide selection of cryptocurrency pairs offered on this site. 

All about the cryptocurrency platform Kucoin 

Birth of KuCoin

KuCoin is a digital currency exchange and trading site. Located in Hong Kong, it is one of the most recent Chinese trading platforms.

In its early days, the platform was known as "Kubi.com". It was founded in 2013, when Michael Gan and Eric Don set up its technical architecture. However, the site only became operational after four years of improvements and testing.

A look at their background shows that both founders have extensive experience in project management. Passionate about cryptocurrency and blockchain technology, both partners have previously managed Ant Financial and IBox Pay.

Together, they created a platform that aims to promote digital currency trading and exchange around the world.

Since its launch in 2017, this exchange has been gaining popularity as its operations are currently expanding to almost every Asian country, including Thailand, the Philippines and China.

KuCoin’s trajectory

Launch of KuCoin Shares (KCS) in 2017

KuCoin Share was released following an ICO in August and September 2017.

Like Binance Coin (BNB), KuCoin is a platform-owned currency used to

  • Financing ex-exchange
  • Incentivize investment by users who earn exchange commissions

In addition to dividends, users also benefit from commercial discounts and various special offers.

2018 : the success of KuCoin

2018 was a great year for KuCoin, in which KCS reached a value of $1.8 billion and became one of the most popular trading sites. This success has prompted users to label it "The People's Exchange".

KuCoin owes its success to its services, including the variety of trading pairs and crypto offers and its user-friendliness, which helped it reach 6 million users.

Progressing throughout 2019-2020

In 2019, the platform underwent significant improvements, the most notable of which were:

  • The trading 2.0 platform 
  • New features such as API and improved commands
  • Margin trading with 10x leverage
  • KuCoin Futures

In 2020, the exchange continued to improve its services. Highlights included:

  • Launch of the Pool liquidity trading market
  • Launch of KuCloud
  • Launch of the instant exchange service
  • Increasing the number of fiat currencies allowed for the purchase of cryptocurrencies

In the same year, its biggest success was the launch of the P2P crypto marketplace, which enables users to make transactions via PayPal or other payment methods.

The platform in 2021

Once restricted to Asian countries, KuCoin has expanded to countries including Turkey, the UK, India, and Canada among others.

In 2021, offers include:

  • 200 cryptocurrencies with 400 markets
  • Discounted offers to users holding KSC tokens
  • 300 employees worldwide
  • A trading volume of approximately $200 billion

The platform is popular with traders, but still struggles to top the list of the most used exchanges.

Opening a KuCoin account

Registering on the platform

If you are considering opening an account, go to KuCoin.com. You will see a "Register" button, located at the top right of the site. Click on it before you are prompted to fill in your email address, phone number and password. Make sure you agree to all the terms of use before clicking "Next".

Before your account can be opened, the platform will first send you a code via email or SMS. In this case, you just need to enter it in order to have full access to your KuCoin account.

Identity verification

Just remember that verification is an option on KuCoin. Your account is sufficient to allow you to make your transactions. However, note that your withdrawals are limited to 2 BTC per day. This limit is sufficient for you as a trader, but prevents you from making other complex operations.

If you want to perform more complex operations, verify your profile. Verification allows you to :

  • Make daily withdrawals of up to 100 BTC
  • Take advantage of Fiat/crypto offers

The platform recommends you secure your account before use through security options that you can find in the settings. For example, you can choose to activate 2FA which is a Google or SMS security code. This code prevents access to your account by third parties.

KuCoin also requires an additional password for your transactions. 


Once you have opened your account, you can trade on the platform. Just choose the type of trading that suits your profile and the currencies you plan to trade.

The different types of accounts

After opening your account, you can fund it. KuCoin offers you services that are slightly different to other exchanges. Instead of granting you a main account, the site separates your account according to transaction.

You can choose between several types of accounts:

Main account

Your main account allows you to make withdrawals, deposits and savings. The costs of your transactions will be covered by KCS.

In any case, if you plan to trade cash, it is best to transfer your assets to your trading account. However, if you want to make withdrawals or P2P trades, keep your assets in your main account.

Trading account

This account allows you to do spot trading with your cryptocurrency. However, before you trade, remember to transfer your assets into your trading account to make trading easier.

However, you always have the option to transfer funds from your trading account to other accounts.

Margin Account

If you have assets in a margin account on KuCoin, note that these are usually used to make margin borrowings and margin transactions.

Of course, you can deposit your assets into your account beforehand to facilitate transactions. You also have the option of transferring the assets to your margin account at the time of the transaction.

Term account

This is an account that is often used for future trading. In this case, do not hesitate to deposit your assets in this account before trading.

Pool-X account

Your assets on your Pool-X account allow you to carry out several operations such as staking and soft-staking. 

Of course, like all other accounts, you will need to deposit your funds into the account beforehand.

What does KuCoin offer ?

"Crypto-to-crypto" exchange

KuCoin is essentially a cryptocurrency exchange platform. You can’t use it to acquire electronic money with fiat currencies, such as the euro or the dollar.

Therefore, you need to acquire cryptocurrency before trading on KuCoin. To do so, visit buying platforms, such as Coinmama or eToro.

KuCoin doesn't allow you to exchange a traditional currency with a cryptocurrency. But it does offer more currency pairs than other platforms. You will actually see an exhaustive list of offerings on its site.


Currency pairs are the crypto-currencies that you can exchange for others. Let's take the example of Bitcoins pairs, which include all the virtual currencies you can exchange for Bitcoin.

Currently, the platform offers around 200 crypto-currencies for exchange, which allows it to largely challenge the competition.

Buying cryptocurrency

You can also acquire cryptocurrencies directly. Two possibilities are offered:

  • OTC purchases 
  • Off-market 

In both cases, note that the transactions are done over the counter. The platform puts you in touch with a seller. The latter obviously sets the purchase price. 

If you are not interested in this type of transaction, you can buy cryptocurrencies directly using your credit card. 

Selling cryptocurrencies on KuCoin

The platform allows you to buy and sell cryptocurrencies. The selling procedure is the same as buying, with the only difference being that you are the only one to set the price you want.

There are two possibilities:

  • Sell your cryptocurrencies by referring to the price available on the market
  • Sell your virtual currencies by setting your own price

Deposit and withdrawal

KuCoin offers a deposit service on its platform. Before depositing your assets, activate 2FA, and then transfer the assets you want to deposit.

The withdrawal operation is triggered when you transfer the assets in your KuCoin account to other exchanges or your wallet. The platform also enables you to withdraw the assets to your wallet or to third parties.

Other KuCoin features

Advanced traders will be happy to know that the platform offers leveraged trading or futures contracts through KuMEX. This is a mechanism that allows experienced traders to increase their returns tenfold, but also their losses. Beginners need to gain experience before engaging in this kind of complex operation.

Since 2019, the platform also offers lending, giving you the opportunity to grant tokens to others on margin trading. 

KuCoin Shares (KCS): the platform's cryptocurrency

Just like Binance, KuCoin provides its own currency, called "KuCoin Shares" or "KuCoin Stock". This cryptocurrency has given it its popularity since its inception in 2017. That's not all! Owning KuCoin Shares (KCS) offers many benefits to users of the platform.

Note that the majority of the transaction costs on the exchange are split between KCS token holders. If you own several tokens, you get a fairly high dividend.

In addition to dividends, you can also receive a 1% discount on trading fees, provided you hold 1,000 KCS tokens. 

Fees on KuCoin

Transaction fees at KuCoin are among the most affordable in the market:

  • 0.1% of the price for trading. The platform may grant discounts or give you a place in the investment programs under certain conditions
  • Flexible rates (positive or negative) for future KuCoin trading
  • 0.0004 BTC for the KuCoin withdrawal fee which is calculated based on the various cryptocurrencies allowed on the exchange
  • 0% deposit fee

As a user, note that 90% of the trading fees are awarded to you. 50% is given to KCS holders, while the remaining 40% is given to sponsors, i.e. those who support activities on the platform.

Payment methods on KuCoin 


KuCoin is a cryptocurrency exchange and therefore accepts purchases via cryptocurrency. However, before making a transaction, make sure that your exchange currency is in the list of cryptocurrencies offered on the site. 

Credit card via an intermediary

KuCoin refuses payment in fiat currency, such as euros or dollars. Nevertheless, you can buy cryptocurrencies with your bank card, provided that you first go through an intermediary. In this case, expect a fee of about 2%.

The platform recently partnered with Simplex to allow you to pay via credit card. You can thus use cash to make your exchanges. This procedure has the disadvantage of being more expensive. 

Other payment methods

Since 2020, KuCoin has allowed users to pay via bank transfer or Interac transfer.

Other possibilities include:

  • Apple Pay
  • iDEAL

Before accessing the platform, be sure to find out what payment methods are accepted. This step is essential in order to save both your time and your assets.

Pros and cons

KuCoin strives to offer you services that are different from other platforms. Nevertheless, it is always important to have an overview of the platform’s pros and cons.

The strengths of the platform:

  • 24-hour customer service with technical support 
  • Numerous trading tools, such as cryptocurrency pairs 
  • Ability to acquire cryptocurrencies with fiat currencies or other cryptos
  • Sponsorship system 
  • Security
  • Affordable transaction fees 
  • Application available on Android and iOS
  • Possibility of obtaining dividends thanks to tokens.

Weaknesses of KuCoin

  • No fiat trading pairs
  • Piracy problem
  • Hidden fees in conversions 
  • Negative opinions from some customers who report bugs