KuCoin Review 2022
What Is KuCoin?
KuCoin is a centralized crypto exchange (CEX). The trading platform was launched in September 2017. The project is officially registered in the Seychelles.
Is KuCoin Safe?
As of the time of this review, KuCoin is in the top 5 of the CoinMarketCap crypto exchange reliability rating. When scoring, analysts take into account the liquidity indicators, traffic volume and the legitimacy of the transaction data that the trading platform provides.
KuCoin is also one of the top 20 largest crypto exchanges in the spot market based on trading volume. Here is what the platform looks like in numbers:
10 million investors from all over the world.
The project covers over 200 countries.
The platform has been translated into 19 languages.
Every fourth member of the crypto community works on KuCoin.
Is KuCoin Legit?
Users praise the crypto exchange for its simple interface, profitable referral program and the ability to work without full account verification. They scold the trading platform, most often for technical problems. For example, many people complain that they cannot get an SMS confirmation of a loan transaction for a long period of time. The developers of the trading platform track user feedback on various platforms.
How Does KuCoin Work?
Sections that make up the crypto exchange include:
API services. This section provides instructions for connecting to a crypto exchange through the application's API.
Referral program. The trading platform is ready to reward users for attracting new clients. In the section, among other things, you can get a referral link for work.
Partnership.The section presents the affiliate program of the crypto exchange, thanks to which users can earn money by attracting clients to the platform.
Stock. In the section, developers publish up-to-date information about contests, discounts, giveaways of coins and other initiatives of the platform.
KCC (KuCoin Community Chain). It is a decentralized public blockchain compatible with the Ethereum Virtual Machine (EVM). The full launch of KCC took place in June 2021.
Blog. In the section, developers publish news about the development of the platform.
KuCoin Labs is a crypto exchange incubator. Through KuCoin Labs, launched in May 2018, developers are investing in promising projects at an early stage of development. Also, as part of the initiative, crypto exchange analysts conduct various market research.
News. In the section, developers publish information about various innovations and achievements of the project.
Awards Center. In this section you can get bonuses for various actions. For example, for registration on KuCoin, the platform team offers a coupon for 5 USDT. Also in the section you can get bonuses for studying materials about the digital asset market.
Let's move on to other sections of the crypto exchange.In the “buy cryptocurrency” tab, users have access to tools for acquiring coins from cards, through a P2P platform and third-party services, such as Simplex.
In the "markets" section, users are waiting for information about the current prices for cryptocurrencies. The developers have divided the data into three categories:
Coins that have recently been listed on KuCoin.
Let's move on to the trading section. It contains three subcategories for users:
Trading bot. According to the developers, with the help of the tool, you can reach passive income.
The next section is derivatives. It provides tools for conducting transactions with futures, as well as proposals for increasing leverage.
The penultimate section is "Earn". In it, the developers have put together tools for earning. For example, a crypto lending service is available in Earn. With its help, users can earn by issuing loans at interest. Among other things, services for cloud and classic mining in the pool, a service for investing funds under the control of a professional manager, and the platform for launching Spotlight tokens were placed in Earn.
The KuCoin menu includes the "NFT" section. In it, users are waiting for a platform for launching non-fungible tokens.
The developers divided all transactions into three groups: spot market, futures and deposit/withdrawal. The crypto exchange does not charge commission for deposits. The cost of withdrawal depends on the coin.
How To Register On KuCoin?
To create an account, you need to click on the "register" button on the main page of the trading platform. After the site will offer to fill out a questionnaire. This will require:
Provide a mobile phone number or email address.
Confirm the specified number or e-mail.
Agree to the terms of the platform and click on the "register" button.
After creating an account, the platform will open access to tools for conducting transactions.
You can work on KuCoin through an unverified account, but with restrictions.
To remove the limits, you will need to go through KYC (know your customer) verification, which involves deanonymizing the user. For this you need:
Specify the country of residence.
Enter your full name.
Enter your ID number.
The system will also ask you to attach:
Photo of an identity document.
A photo of the person who is being verified. In his hands he must have an identity document and a sheet with his own account information and a special code (it is issued by the system when filling out the application).
After that, the information will need to be sent for verification.
Where to Follow the News of the Crypto Exchange?
The KuCoin team dubs most of their social media in multiple languages. You can follow the KuCoin Community Chain news on Twitter, Telegram, GitHub, and Discord.