Description of KuCoin
What Is KuCoin?
KuCoin is a cryptocurrency exchange built with the mission to “facilitate the global free flow of digital value.” It claims to have an emphasis on intuitive design, simple registration process and high level of security. The platform supports futures trading, a built-in P2P exchange, the ability to purchase cryptocurrencies with a credit or debit card, and instant exchange services.
Also known as “people's exchange”, the platform facilitated 1.2 trillion in lifetime trading volume and supports over 20 million users worldwide. The company claims to offer technology-driven trading products and the KuCoin ecosystem, which encompasses the KuCoin community and is built around the KuCoin token (KCS).
Who Are the KuCoin Founders?
There are two tech geeks who founded KuCoin and they were early adopters of the blockchain. Having founded his first startup at the age of 16, one started mining BTC when he heard about Bitcoin from his boss in 2012.
As the adoption of blockchain continued, they realized that it was reshaping the financial system into one that would not only serve richest few, but everyone in the world — even the less educated, unemployed, and unbanked. By the end of 2013, they wrote the first pieces of KuCoin's of code in a cafe, starting a People's Exchange that would allow all to get involved with crypto.
In 2020, when KuCoin is a top-5 exchange in the world, Johnny Lyu stepped in as the CEO. Before joining KuCoin, he had accumulated abundant experience in tech, internet and e-commerce industries.
When Did KuCoin Launch?
The exchange officially launched in August 2017.
Where Is KuCoin Located?
The company is international, headquartered in the Seychelles and offices in Hong Kong and Singapore, with more than 20 million users worldwide and a presence in over 200 countries.
KuCoin Restricted Countries
The platform provides services to countries such as Turkey, India, Japan, Canada, the UK, Singapore and many others. The project is not licensed to operate in the US, but traders and crypto investors have the option to register their accounts.
What Coins Are Supported on KuCoin?
The platform has a large number of trading pairs, it offers nearly 700 cryptocurrencies for buying, selling and trading, the list of the top coins includes BTC, ETH, USDT, BNB, ADA, XRP, USDC, DOGE, DOT, UNI and more.
How Much Are KuCoin Fees?
Fees are based on a tiered system depending on which “class” a token is classified under and a user’s ‘level’ — determined by their past 30-day spot trading volume and minimum KCS holding.
The system uses a maker-taker model with maker and taker fees from 0.10% for ‘Class A’ to 0.30% for ‘Class C’ for ‘Level 0’ traders. Levels range from 0 to 12. Users can receive a 20% discount if they pay using the KCS token.
For futures trading, maker fees range from 0.02% for ‘Level 0’ to ‘-0.015%’ for ‘Level 12’. Taker fees range from 0.06% to 0.03%. Deposit is free for all users, however withdrawal fees depend on the crypto asset.
Is It Possible To Use Leverage or Margin Trading on KuCoin?
Yes, users can use margin trading, futures or leveraged tokens, which allows them to use leverage. The maximum leverage available on KuCoin futures is 100x, but users need to pass KYC first. In isolated margin mode, the leverage is up to 10x and depends on the trading pair.
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