A new player years in
Kucoin is probably one of the most solid cryptocurrency exchanges to enter the market alongside Binance. It was in the making for years and released just in august of 2017 and has been growing and improving ever since.
If you haven’t heard about it, we’ll tell you all you need to know in this short review, and if it interests you, we’ll leave you a link at the end for you to check out the exchange by yourself.
What does it offer?
Seeing that the team behind Kucoin has a lot of expertise in the field, it won’t come off as a surprise that not only does Kucoin offer everything you’d need from an exchange, but it does it exceptionally well.
- 24/7 customer support through several mediums (hotline, email and website).
- Support for most of the popular cryptocurrencies with new ones being constantly added.
- A technology that supports an infinite number of trading pairs.
- The option to register your own cryptocurrency pair and start trading.
- An intuitive, easy to use and overall smooth Graphical User Interface.
- A team of experts behind its development, seeking constant improvement for the platform.
- A consultant team of financial experts that works alongside the Kucoin team.
- Highly secure wallets with multi-level security measures in place that adapt to the amount of coins stored.
- Even higher security measures for all stored assets.
- Almost instant withdrawals for small amounts, with larger ones taking less than 10 minutes.
- A mobile app available for both iOS and Android.
- A trading engine capable of processing over 1 million orders per second.
- Active traders and investors get most of the commission from the exchange (up to 90%).
- An affiliate bonus, or as they call it “invitation bonus” that rewards you with a portion of any trading fees accrued by anyone you invite to Kucoin.
Now I know how that last one sounds, but if you read a bit about it you’ll learn that Kucoin actually doesn’t earn any money from this scheme, they are actually losing some money from this because a portion of the trade fees just go directly to the user that sent the referral. The main focus of this scheme is simply to bring more attention to the exchange.
Additionally, the exchange actually released their own token, the Kucoin token, which naturally comes with some benefits, such as trading fees being halved, and in the future it could potentially open up for some exclusive services like even faster customer service or even one-on-one investment consultation.
What does the community think of it?
Being such a young platform, it’s quite impressive to see that its overall reception has been quite positive. Some negative comments have shown up due to the affiliate scheme they offer, but that’s because the overall negative perception towards those programs. Other than that however, their smooth launch and operation up until this point and the team behind it has given them a good reputation among exchanges.
Pros & Cons
- Great beginner friendly User Interface.
- 24/7 customer support.
- Highly regarded due to their development team.
- New coins are constantly being listed. Most of the times they’re listed faster than other exchanges.
- Fair and reasonable trading fees.
- Multilanguage support.
- A mobile API that allows you to trade anywhere at any time through your mobile browser.
- Margin trading isn’t an option just yet.
- No fiat payment options.
Take these cons with a grain of salt, as we do not know yet what they might add in the future. Remember that this is a very new platform.
To sum it up
Despite being so new, Kucoin has proven to be one of the best exchanges in recent times, and with the team behind it we can only expect it to get better over time. They have some ambitious goals, so let’s see if they achieve them.
Kucoin is one of the newest cryptocurrency exchanges so far being released around 8 months ago, but the team behind this exchange is far from new. Kucoin’s team is composed of people that have been involved in blockchain technology research since early 2011, and the technical architecture of Kucoin’s platform dates back to 2013. After that was achieved, the founding team just focused on polishing every little detail to obtain what is probably one of the smoothest launches of an exchange.
Then, in May of 2017 a research and development (R&D) team was assembled, and just a few months later in August of the same year, an Angel investment occurred, which resulted in the platform being launched within the next few days.