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Kucoin Review 2024: Are They Safe & Legit – Or a Scam?

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Crypto Exchange
KuCoin
Favicon
Rating follows
  • Over 600+ cryptocurrencies
  • New coins added regularly
  • NFTs available to trade
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T&Cs apply, 18+
Details
User Reviews

Welcome to our KuCoin review here at Gameland, where you can discover everything there is to know about this exciting crypto exchange. For starters, there’s a great bonus that new users can benefit from.

Added to that, there are also low trading fees, a wide selection of cryptocurrencies to trade and P2P trading. Throughout this article, we’ll take a deeper look into this operator and answer important questions, including is KuCoin legit? So without further ado, let’s get started, shall we?

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KuCoin: Pros & Cons
  • High crypto trading volume
  • 600+ cryptos
  • P2P trading available
  • NFT marketplace
  • No US license
Payment Methods
Bitcoin
Company
Kugroup
Founded
2017
Website
kucoin.com
Overall Rating
Rating follows
  • Usability, Look & Feel
    4.0/5
  • Payment Methods
    3.6/5
  • Customer Service
    3.9/5
No review posted yet.
User Rating
0/5
5 Stars
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1 Star
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Last Updated on 02/07/2024

Security, usability, look and feel - The KuCoin website and app

Having started back in 2017, KuCoin already has some of the highest crypto lending rates in terms of trade volume in 2024. The website itself looks good and is extremely user-friendly overall. As well as being able to trade crypto via spot trading, margin trading and the trading bot, site users can also use the crypto lending platform where decentralized crypto lending is available.

In terms of appearance, the site has a subtle white and gray background with a soft pea-green color that highlights the logo, font and icons. We would say that the site is well-rounded and should be suitable for beginner to intermediate and advanced traders.

In terms of functionality, we experienced no poor loading times and found that we were able to start trading fairly quickly. Once your account is open and verified, you can log in and start trading within a few clicks.

In addition to the website, KuCoin also has a mobile app available for all of its account holders. The app is available on all devices and can be downloaded via the Apple App Store and Google Play. The app works quickly and can perform most of the capabilities that the website can. It’s also worth mentioning that the homepage has been optimized for mobile use as well.

Security – Is KuCoin safe?

KuCoin was subjected to a fairly large hack back in 2020 when over $280 million worth of crypto assets were stolen from users. However, the insurance fund that KuCoin had in place meant that all users affected by the hack got the value of their assets back in full. While this is still nevertheless something of a concern, security measures have since been tightened substantially.

In terms of security features, you can expect to see KYC verification to log in to your account, followed by a separate multi-factor authentication protocol and encryption that is required in order to start trading. This is an extra security feature that you won’t find at many other exchanges – so they have clearly taken steps to tighten things up. Is Crypto.com safe? That’s something that you can also find out by using the reviews here at Gameland.

How to trade – Our step by step KuCoin review

Create your account

The first step to trading with KuCoin, one of the top crypto lending platforms, is to open your account. Opening the basic account is pretty easy and can actually be done within a few minutes. Simply hit the green sign up button on the homepage of the website or in the app – you can’t miss it – and then complete the form with the usual details; email address, password and username setup, etc.

Complete KYC

Once your basic account has been opened, you will already be able to start trading straight away. However, we recommend that you complete one of the two KYC processes so that you can access more features on the site, including instant crypto credit lines, lending, NFTs and more. Additionally, completing the KYC process also gives you access to higher withdrawal limits as well.

The more basic of the two KYC processes simply requires you to enter some additional personal details, while the more advanced version requires documents that can include a government-issued ID, proof of address and a selfie. If you wish to get the full benefit of KuCoin, we strongly recommend completing the full KYC.

Start trading

You can now start trading by logging into your account and using one of the many features and tools available to you. There are four principal types of order at KuCoin, which are market, stop-market, limit and stop-limit. Additionally, P2P trading is also available, as is margin and futures trading. As we mentioned briefly earlier in our KuCoin review, there is also a trading bot for automated traders.

We should mention that some of the available features at KuCoin might be a little bit advanced for beginner traders, so you might want to start off slow. If you are finding it difficult to get to grips with the tools and features on the platform, there is a help center, which we will discuss in a bit more detail later on in this KuCoin review. If you need to learn more about the crypto lending risk and how to manage it, you can take a look at our handy guide before you start.

Payments - Free crypto deposits at KuCoin

Things get off to a good start here, as KuCoin doesn’t charge you for crypto deposits and users can deposit funds quickly and easily. As KuCoin only accepts crypto deposits, it’s important to ensure that you have the correct address selected before making your first deposit. For example, a BTC address won’t work if you want to deposit ETH – so make sure all of the details are correct or you could risk the deposit not arriving in your account at all.

The withdrawal process with KuCoin is almost exactly the same as the deposit process, only in reverse. As per their website, KuCoin strives to process all deposits within 30 minutes, however, it could take up to a few hours for you to receive your funds. Considering that KuCoin processes withdrawals manually to ensure additional security, this is actually pretty quick.

KuCoin charges a small withdrawal fee that is relevant to the cryptocurrency and blockchain you are using. For example, withdrawals using a higher value coin, like BTC, will typically incur a higher fee than a lower value altcoin.

Customer service - 24 hour service with KuCoin

You can reach the KuCoin customer service team 24/7 via the live chat service, which we found offers quick response times at most hours of the day. Additionally, there is also a help center and a handy FAQ guide, both of which should be able to help you with the more basic inquiries. They also have handy guides, covering topics including crypto lending explained and more.

There is no phone line, which is now extremely common among crypto trading platforms in 2024, however the lack of an openly available support email address is something that we would like to see change in the future. KuCoin has also built a large social media community, with multiple accounts in multiple languages across multiple platforms.

They are present on the likes of  Facebook, Instagram, Twitter, Reddit and more. Additionally, their YouTube channel is very well put-together and contains videos to walk you through processes, including opening your account and making deposits and withdrawals. Overall, while there are some improvements that could be made, the customer service and help available are up to a decent standard.

License and security - Our KuCoin review found this to be a legit site

KuCoin is licensed and legally able to operate in over 200 countries; however, there are some notable omissions. For example, KuCoin isn’t licensed in the US, so users here will have to seek out alternatives – we recommend the following review: is Celsius Network safe? Physically, the company is based in Seychelles and was founded in 2017. Aside from the major hack in 2020, from which they have recovered well, we could find no other problems in terms of their track record.

As said previously, KuCoin has seriously ramped up its security features since 2020 and has more stringent account protection than almost any other crypto exchange platform in 2024. In addition to the KYC and multi-factor account protection that we spoke of earlier in our KuCoin review, KuCoin also has state-of-the-art encryption technology. The terms of use and legal documents are also all in order and appear to be airtight. So, is KuCoin legit and safe? The enhanced security measures certainly suggest so.

Reputation and customer feedback – What users are saying about KuCoin

We took a look at some KuCoin reviews from existing customers and found a mixed bag in terms of feedback. While there was some negativity, this is often to be expected on trading platforms, as those who have lost on their investments are generally more inclined to leave a review. However, in addition to the negative reviews, many users were also positive about several aspects of the platform, including the range of cryptocurrencies available to trade and the low trading fees. But is KuCoin a scam? Our research and the positive user experiences indicate that it is not. If you’re curious about how KuCoin compares with other platforms, Is Nexo.io safe? Take a look to see what customers are saying about one of KuCoin’s biggest competitors.

Cryptocurrencies - 600+ available to trade at KuCoin

At KuCoin, users can trade in over 600+ cryptocurrencies, including BTC, ETH, USDT and plenty more. You can also find plenty of more niche altcoins and lesser-known cryptos as well. Additionally, KuCoin also has a strong reputation for adding new coins on a regular basis.

In terms of how you can buy coins, KuCoin offers you three different options – fast trade, P2P and third-party. With the fast trade, you can quickly buy the crypto that you want using any one of over 70 payment methods, with the limits varying between coins. You can purchase coins using a variety of fiat currencies, including USD, EUR and GBP.

The P2P platform allows you to buy crypto from other users and private sellers, while the third-party platform used is Simplex. You can actually buy and own the asset with KuCoin and even earn interest via lending and staking. However, these are two features that we definitely wouldn’t recommend for beginner traders.

Other trading – Futures, NFTs and more

KuCoin is essentially a crypto-only trading platform, however, it does offer users a number of different ways to trade. For example, there are three different futures trading tools – Futures Classic, Futures Lite, and Futures Brawl. Futures Classic is for the more experienced trader and contains multiple trading tools with leverage of up to 100x. The Futures Lite platform is for more user-friendly and quick trading, while Futures Brawl allows you to compete against other traders for prizes.

KuCoin also has an NFT launch platform for gaming and IGO, which was launched in early 2022. Here you can either buy NFTs outright or bid for them at auction and there can be thousands available at any one given time. Any NFTs that you buy can then be stored and viewed in the My Collection folder in your KuCoin account.

As mentioned previously, you can also lend out your cryptocurrencies in order to earn interest. Additionally, there is also an investment platform called KuCoin Earn and you even have access to cloud mining. Overall, there are plenty of capabilities here for the more experienced crypto trader.

Jurisdiction and limits – Available in over 200 countries

KuCoin is currently available in over 200 countries as of 2024 and complies with all of the licensing the regulatory requirements in all of them. For users in certain regions, this may mean that some capabilities of the platform are not available due to local laws or regulatory requirements. The only major omission from KuCoin’s list of available countries is the US, where the company doesn’t have a license to operate – though we can’t 100% rule out them gaining one in the future.

If KuCoin is not available in your country, or if certain features aren’t available where you are, then you should find that you are unable to access them. KuCoin uses state-of-the-art geolocation technology in order to implement this. The legal age restrictions and verification process will be enforced via the very strict KYC process that we explained in the main body of our KuCoin review.

Fees – Low trading fees and no deposit charges

KuCoin operates a tiered system that charges its fees based on trading volume – meaning the more you trade, the lower your fees are. The fee range is low and is especially beneficial for frequent and high-volume traders. The maker fees range from 0.0125% to 0.1%, while the taker fees range from 0.03% to 0.1%. You can also get an additional trading free discount on top of these low rates by having a higher KuCoin balance.

As mentioned in the title, deposit fees are completely free, though fiat deposits for trading are very limited – you first have to buy crypto and then deposit it to start trading. Withdrawal fees differ depending on the coin and are based on the market value. As far as we can tell, there are no hidden fees to be wary of with KuCoin.

Product summary  – KuCoin is excellent for experienced traders

If you are a relatively experienced crypto trader that is looking for a site with plenty of tools and features, then KuCoin is the place for you. While KuCoin’s competitors can match them in terms of the large 600+ crypto trading range, few of them have as many features for advanced trading. Additionally, the low trading fees are also a massive advantage and there’s also a new user bonus. The only downside is that the platform might be a bit complex for new traders, however, they do have some handy beginner guides to help combat this.

KuCoin review FAQ

✅ Can KuCoin be trusted?

We researched KuCoins licensing and history in order to answer this question fully for you. Head on over to Gameland and check out our KuCoin exchange review in order to find out how this operator rates in terms of trustability for 2024.

🤔 Is KuCoin better than Coinbase?

There are always pros and cons to different cryptocurrency exchanges, but we always like to do head-to-head comparisons. Use our comparison tool in order to decide what exchange is better for you – KuCoin or Coinbase. Find more crypto exchange platforms compared here at Gameland.

🏦 Can I withdraw from KuCoin to my bank account?

Full deposit and withdrawal conditions at KuCoin can be found here in our review at Gameland. We also have a number of other crypto exchange reviews that are kept consistently up to date for July 2024. Simply follow the link in order to discover more here today.

KuCoin review - Our overall conclusion

While there are a couple of improvements that could be made, there are definitely plenty of advantages to using KuCoin overall. The range of cryptocurrencies is massive, and the amount of tools and functions is pretty amazing. Additionally, we also have the low trading fees to take into account and the enhanced security measures that are now in place.

Improvements could be made in terms of customer service and the addition of a demo account for beginner traders. Our KuCoin review highlights these aspects in detail.

But is KuCoin legit and is KuCoin safe? The platform has implemented robust security measures to protect users’ assets. Despite these efforts, some users still question, is KuCoin a scam? Based on our extensive research and customer feedback, KuCoin is definitely not a scam and remains a reliable choice for many cryptocurrency traders.

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Crypto Exchange
KuCoin
Favicon
Rating follows
  • Over 600+ cryptocurrencies
  • New coins added regularly
  • NFTs available to trade
-
T&Cs apply, 18+
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Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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