KuCoin is one of the largest and most reputable cryptocurrency exchanges that provides users with a wide range of trading options, including spot trading, margin trading, futures trading, and P2P trading
The exchange was founded in 2017 and is headquartered in Seychelles. It has increased since its launch and has over 20 million users worldwide, with a presence in over 200 countries.
One of the standout features of KuCoin is the ability to earn interest on your crypto holdings by staking certain assets or lending them to other users in exchange for interest payments. KuCoin also offers a wide selection of cryptocurrencies, with over 700 coins available for trading. This makes it an excellent choice for users looking for a diverse range of assets to invest in.
KuCoin offers relatively low trading fees. Users can expect to pay between 0.005% and 0.1% per trade, depending on their tier level. The exchange also provides a 20% discount on trading fees when using its native token, KuCoin Token (KCS).
However, the exchange is not licensed to operate in the United States. This means that U.S.-based users may have partial access to all of the features on the platform, and there is a risk that regulators could crack down on the exchange, potentially freezing user assets. Additionally, KuCoin has faced regulatory issues in other countries, including Canada and The Netherlands.
Despite offering KYC verification and standard security measures, KuCoin experienced a significant security breach in 2020 when hackers could steal more than $280 million worth of cryptocurrency from users' hot wallets.
KuCoin has implemented additional measures such as multi-factor authentication and encryption to improve security. Moreover, the exchange also offers a business wallet address verification system, which helps reduce the incidence of phishing scams.