KuCoin Review: A Beginner's Guide to the Exchange
A thorough review of KuCoin for UK and international users: what it offers, fees, security track record, and who it is best suited for.
KuCoin is a Seychelles-based cryptocurrency exchange known for its wide selection of altcoins. It is popular among more experienced traders looking for access to smaller-cap tokens that are not listed on mainstream exchanges.
Is KuCoin available in the UK?
KuCoin accepts UK users, but it is not registered with the FCA. This means it does not have the same regulatory protections as FCA-registered exchanges. UK users should be aware of this when deciding how much to keep on the platform.
What sets KuCoin apart?
KuCoin lists over 700 cryptocurrencies, significantly more than mainstream exchanges. If you are looking for access to newer or less-established tokens, KuCoin is one of the most comprehensive options available.
It also offers a wide range of products beyond spot trading:
- Futures trading: Up to 100x leverage on major pairs
- Margin trading: Borrow against your holdings
- Earn products: Staking, lending, and flexible savings
- Trading bots: Automated trading strategies built into the platform
KuCoin fees
- Spot trading: 0.1% maker and taker (standard)
- With KCS token holdings: Fee discounts apply
- Withdrawals: Vary by asset
The 2023 hack
In September 2023, KuCoin suffered a significant hack, losing approximately $285 million in cryptocurrency from its hot wallets. The exchange claimed to have covered all user losses from insurance funds and company assets. It subsequently tightened security.
This incident is worth factoring into your decision about whether to hold assets on the platform long-term.
Who is KuCoin best suited for?
KuCoin is best suited for:
- Traders wanting access to a wide range of altcoins
- Users comfortable with a less regulated environment
- Traders who want access to futures and margin products
It is less suitable for beginners or users who want the security of FCA regulation.
Our verdict
KuCoin is powerful but carries more risk than regulated alternatives. Keep only what you are actively trading on the platform and withdraw long-term holdings to your own wallet.