Over the past decade, cryptocurrency has become a legitimate, popular investment asset. Exchanges like KuCoin make this investment process easy and fun. According to KuCoin, two “tech geeks” who had the foresight to become “early blockchain adopters” founded this exchange several years ago. The pair began writing the code for KuCoin in a café in 2013, and they made good on their goal to turn the platform into the “People’s Exchange.”
From those humble beginnings, KuCoin now has millions of investors, and it is well-known in the crypto world.
Today, KuCoin isa Seychelles-based cryptocurrency exchange that offers a wide range of tradable cryptocurrencies, competitive trading fees, and advanced features like margin trading and futures trading.
Pros and Cons
Pros
- Broad selection of tradable cryptocurrencies
- Competitive trading fees
- Volume discounts on fees
- Offers advanced features like margin trading and futures trading
Cons
- Funds kept on the platform are not insured
- Suffered a major hacking incident in 2020
Recommended For
KuCoin could be an excellent choice for advanced crypto investors who are looking for low fees and access to a broad range of cryptocurrencies. In 2020, KuCoin announced its customers are now allowed to buy crypto with Australian Dollar (AUD) on the Simplex platform. This support makes it easy for Australian investors to utilise KuCoin’s platform and features. KuCoin is a recommended platform for Australian investors who are interested in trading and investing in cryptocurrencies. With its wide range of available cryptocurrencies, including major ones like Bitcoin and Ethereum, as well as numerous altcoins, KuCoin provides Australian investors with a diverse selection of investment opportunities within the cryptocurrency market.
Regulated By
- According to KuCoin, due to internal policies, they do not disclose licence information to the public.
Top Features
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Broad selection of tradable cryptocurrencies
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Competitive trading fees
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Volume discounts on fees
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Offers advanced features like margin trading and futures trading
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KuCoin Trading Bot
Overview
- Type of Exchange Crypto Exchange
- Regulation & Licensing According to KuCoin, due to internal policies, they do not disclose licence information to the public.
- Clients Accepted From United Kingdom, Australia, Russia, Germany, India, and more.
- Assets Offered 750+
- Platforms Available Web, Mobile
- Mobile Compatibility iOS, Android
- Payment Types Accepted Credit Card, Bank Transfer, Apple Pay
Account Types
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KuCoin Account |
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Features |
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Account Currencies |
Multiple fiat currencies such as AUD, RUB, UAH, USD, EUR, GBP, and BRL for fast-transfer services. |
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Available Leverage |
The initial leverage is the leverage multiple manually set when opening a position. These leverage multiples are from 0.01x to 100x. After opening a position, the actual leverage will change as the unrealized profit and loss changes. Then the leverage multiple can be a decimal, even more than 100x.
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Minimum Deposit |
AU$0 |
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Demo Account |
Yes |
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Copy Trading Support |
Yes |
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Commission Per Trade |
AU$0 |
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Trading Instruments |
Cryptocurrency & Futures |
Trading Platforms
- KuCoin offers an intuitive interface with various functionalities such as buying or selling crypto assets. The platform supports more than 750 coins catering to both newbies and experienced investors alike.
Trading and Investment Tools
- One Click Trading Yes
- Trade off Charts Yes
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Limit Order Yes
- OCO Orders Yes
- 24hr Trading Yes
- Streaming News Feed Yes
- Trailing Stop Order Yes
- Charting Package Yes
Compliance & Regulation
KuCoin is a global cryptocurrency exchange that operates with a focus on compliance and security. While KuCoin has made efforts to comply with applicable laws and regulations, cryptocurrency regulations vary by jurisdiction, and it’s crucial for users, including Australian investors, to understand the legal and regulatory requirements that apply to them.
KuCoin has implemented security measures, such as two-factor authentication (2FA), withdrawal whitelisting, and other safeguards, to protect user accounts and funds. These security measures aim to provide users with a secure trading environment.
Fees & Commissions
- Rollover Fee 0.1% per redemption
- Margin Interest The platform will charge 5% of your accrued interest as fees and 10% as the insurance fund.
Pricing
Kucoin charges low fees with additional discounts available when using their native token KCS or based on average monthly holdings or previous month’s trading volume.
Service Details
- Supported Languages 2+ languages
- Customer Service Hours 24/7
- Email Response Time Several Business Days
- Telephone Orders No
- Personal Account Manager Yes
Reliability & Security
KuCoin places a strong emphasis on reliability and security to provide a safe trading environment for its users. KuCoin has partnered with Onchain Custodian, a Singapore-based crypto asset security platform, to maintain custody of its assets which are also backed by Lockton, a private insurance brokerage.
While KuCoin has implemented measures to protect user accounts and assets, it’s important for users, including Australian investors, to also take responsibility for their own security. This includes practising good security hygiene, such as using strong and unique passwords, enabling 2FA, and being cautious of phishing attempts or suspicious links.
It’s advisable for Australian investors to review KuCoin’s security practices, terms of service, and any relevant documentation to gain a comprehensive understanding of the platform’s reliability and security measures.
User Experience
Opening an account with KuCoin is easy. KuCoin strives to provide a user-friendly experience for its traders and investors. KuCoin provides a range of trading features to enhance the user experience. Users can place market orders, limit orders, and stop orders to execute trades based on their preferred strategies. The platform also offers advanced order types.
Final Thoughts
KuCoin offers competitive fees and advanced features that make it attractive for advanced crypto investors. KuCoin offers a clean and intuitive user interface, making it relatively easy for users to navigate and access various features. The platform’s layout is designed to provide essential information at a glance, including market data, trading pairs, and account details.
Contact Info
Vistra Corporate Services Centre, Suite 23, 1st Floor, Eden Plaza, Eden Island, Mahé, Republic of Seychelles
FAQs
Q: Does KuCoin Offer Margin Trading?
A: KuCoin is one of the few exchanges where Australian residents might be able to open up a crypto margin account. This risky investment practice enables users to borrow money to amplify their returns (and their potential losses).
Q: Does KuCoin Offer Crypto Lending?
A: KuCoin also allows users to lend their crypto holdings to other would-be margin traders. Interest rates and term lengths vary by coin. It’s important for investors to understand the risks that come with Crypto lending. While the loans are collateralized and the recipient must maintain a certain balance, price dips may occur causing losses and the platform states it is not guaranteed to fully cover any losses.
Q: Can I start trading with just AU$1?
A: KuCoin allows users to improve their practical experience through a variety of trading and financial products for as low as AU$1.
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