Kucoin mainly aims at providing users with digital asset transactions and exchange services that are even safer. It was launched in August 2017. KuCoin has more than 300 different trading pairs available and over 75 cryptocurrencies. You can purchase a wide variety of cryptos, and they can use the KuCoin platform through a desktop computer as well as on the KuCoin app on both Android and iOS.
Registration process
I`ve read in other reviews Kucoin offers a demo account but going through their website I found no way of signing up for one. So, I`ll try to register through their “Sign up” button and see if there is an option to go with a demo. After clicking the “Sign up” button, a short form appeared.
Fill in your phone number and that is the downfall immediately. This is not the right way, to get a demo account. You get a verification code by text, which you need to type in. I have noticed you can ask for an email verification code rather than mobile, so I`ll try this way. The email came in a second. I`m registered in under a minute.
Kucoin website
Looking at the website for the first time, it seemed very flashy, with a lot of small text all over the page. You have the main menu in the top pane always there, static. The options to go through are:
- Markets
- Buy Crypto
- Trade
- Derivates
- Finance
- More
You can also sign in, register or change the language and download the app in the top pane. The first page shows the trending coins:
They also show off their best features on the main page, which is good. I Like the design of the pictures here. Modern, colorful.
On the right side, I have 3 icons ready for me to click on any time. After a closer look, it’s a quick link to FAQ a QR code to quickly download the app and a chat bot.
Looking at their educational support I clicked on “help centre” in their footer and came to a beginner’s guide. Here I am a bit confused, as the layout and colors are several different from their design.
But the articles in the beginner’s guide are closeup with print screens.
Not bad, but I have seen better. More creative educational support with seminars, blogs and videos.
Kucoin products
It has developed a remarkable collection of crypto services, like fiat onramp, futures and margin trading exchange, passive income services such as staking and lending, peer-to-peer marketplace, IEO launchpad for crypto crowdfunding, non-custodial trading, and more. Here are some of the most popular crypto assets:
- Bitcoin
- Ethereum
- KuCoin Shares
- Ripple
- Tezos
- EOS
- Cardano
- Bittorrent Token
- Dash
- NEO
- MakerDAO
- Monero
In the “Trade” tab you can find out more about Spot trading, Margin trading, API and Trading bot. The Trading bot is new to the market. It earns money when you are not available.
Demo account
Using a demo trading account means that you don’t need to worry about losing money, you can learn and gain skills before you go live with trading. It’s a good educational tool for beginners. KuCoin also provides a demo trading account. Users can use unlimited investing through the demo account, to familiarize themselves with the platform. Kucoin offers a demo account.
Kucoin platform
Kucoin trading platform is user-friendly and easy to understand, powered by an Application Programming Interface (API) key. The platform is only available as a web trader, meaning it cannot be downloaded as a desktop app for Windows or Mac. It has a modern and straightforward design and it uses an advanced core trading instrument that can handle millions of transactions per second.
The most important aspect of any exchange is spot trading, where Kucoin allows you to exchange over 200 tokens and cryptocurrencies with low fees.
Fees
Broker fees can vary and change, there may be additional fees that are not mentioned in this review. Kucoin does not charge spreads or commissions. But it takes money from maker and taker fees (a maker is someone who lists a trade 0.02%, while a taker selects a pre-listed trade 0.06%). There is also a 0.025% settlement fee. Check out fees on their website.
Social media
Look at all the social media they take part in.
I went over the FB icon, to check out their FB account and I could choose from different languages.
Facebook has over 45 thousand followers, the last post is only a few hours old and the posts they have are mainly Kucoin news, visions and updates. Twitter, which is the next social media option is pretty much the same as Facebook, and YouTube has lots of podcast videos, tutorials and so on. The other social media accounts they mention on their website are for example:
- Telegram
- Linked In
- etc.
Advantages and disadvantages
Kucoin is not a great option for anyone just beginning with cryptocurrency. Kucoin offers a number of features you might find attractive including its wide range of cryptocurrency pairings, low transaction fees and its dedication to safety and security. It’s active on its social media accounts, the website is full of the information you need to know. The website is a bit flashy, full of small letters and colorful flashing pictures. They have a live chatbot and a QR code for you to download their app at any time. Plenty of educational videos on YouTube.
Pros:
- Low fees
- Trading bot
- Chatbot
- Many social media account
Cons:
- Fiat withdrawals are not possible
- Help-center has only some articles
- Not that simple for beginners
- The website is a bit flashy and overloaded with small text
Score:
