Along with the explosive growth of the Crypto market, many cryptocurrency exchanges have been established worldwide. Among these, Kucoin is highly rated by users. So, is Kucoin as good as rumored? Let’s explore some information about the Kucoin exchange platform on Vietnam-Ustrade.org!
Kucoin was first launched in Hong Kong, China, on September 15, 2017. Although it has been nearly 3 years of operation, to ensure safety and credibility, Kucoin only allows users to trade coin-to-coin. Therefore, the platform supports many different coins such as Bitcoin, Litecoin, Ethereum, Altcoin, and various other Tokens. Notably, Kucoin Shares (KCS) is the platform’s proprietary coin. Using this coin for trading on the platform, users will receive reduced trading fees.
After many years of operation, the platform has its own strengths and weaknesses, but Kucoin has never been involved in any scam or victimized by hacker attacks stealing user accounts. Therefore, Kucoin is always highly rated by users for its security, safety, and professionalism.
As previously introduced, Kucoin has a universal coin for the entire platform called Kucoin Shares or KCS. This is a Token built on the Ethereum Blockchain. The emergence of KCS has helped the Kucoin ecosystem develop further and also reduces transaction costs for users.
The Kucoin exchange team is very professional and dedicated. Leading the development team is CEO Michael Gan, a former Alibaba expert who also holds important positions in MikeCRM, etc. Besides, other key roles include Eric Don — an experienced internet professional, Kent Li — CEO, John Li — Business Development Manager, responsible for the communication department, among others.
Based on the above information, how do you evaluate Kucoin? Let me share some reviews about its advantages and disadvantages!
Pros:
- Safe and secure electronic wallet platform: To build customer trust, Kucoin has developed a high-security crypto wallet with many protective barriers. Therefore, it is not surprising that Kucoin has not been hacked to this date.
- High security for customer information: To prevent risks, Kucoin generates many security codes such as email verification, 2FA two-factor authentication, etc.
- Low trading fees: To facilitate users, Kucoin has lowered its transaction fees to a very low level compared to other e-trading platforms, just over 0.1%.
- User-friendly interface platform: Focusing on customer satisfaction, Kucoin provides a platform with a beautiful and easy-to-use interface. Therefore, whether you are a novice or experienced, you can easily perform transactions on the platform.
- Since it only supports coin-to-coin transactions, the number of coins accepted on the platform is quite large, as previously mentioned.
- Another special feature of Kucoin is that when users hold a certain amount of KCS coins on the platform, they will receive daily rewards from Kucoin, representing a passive income stream.
- Besides low fees, Kucoin offers extremely fast trading speed. Each transaction takes only a few minutes to complete.
- The platform supports multiple languages, including Vietnamese.
- The support team is enthusiastic and dedicated, providing 24/7 customer support.
- Furthermore, it supports users via the Kucoin app for IOS and Android, as well as the Kucoin informational website, which provides essential market and platform data.
Cons:
Despite many advantages, Kucoin also has some drawbacks:
- Does not support fiat currency transactions, which may cause liquidity and currency exchange issues for users.
- Has not yet integrated margin trading features like some other exchanges.
As mentioned, Kucoin’s trading fees are quite low. However, it still charges similar fees as other platforms, such as:
- Trade Fee: Only about 0.1%, applicable to both taker (order matchers) and maker (order creators). However, this fee can be reduced further if you hold KCS tokens, with discounts ranging from 1% to 30%, depending on the amount of Kucoin shares owned.
- Deposit Fee: To increase deposits, Kucoin offers 0% deposit fee, meaning free of charge regardless of the amount or type of coin deposited.
- Withdrawal Fee: Users must pay a specific fee for withdrawals, which varies depending on the coin. You can refer to the fee table below:
I’ve summarized some information about the Kucoin exchange platform. I hope this article provides a neutral and comprehensive view of Kucoin, helping users make informed decisions to maximize profits. Wishing you success!
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