Is KuCoin a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether KuCoin is a good crypto exchange to start trading with. In this article you will learn whether KuCoin is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker KuCoin
The KuCoin crypto exchange is a platform for exchanging and trading cryptocurrencies, spots, margins, and futures. The list of the exchange’s trading instruments includes dozens of cryptocurrencies such as Bitcoin, Ethereum, Tezer, etc. This crypto exchange offers a user-friendly trading terminal and there are a web and a mobile version for Android and iOS devices. The terminal contains basic analytics, charts, and indicators. There’s a possibility to replenish the account balance from debit cards, cryptocurrency, and electronic wallets. These methods are also available for withdrawal. In addition to the affiliate program (payments for referrals), the site offers unique contests with cash prizes called "Futures Battle".
| 💰 Account currency: | BTC |
| 🚀 Minimum deposit: | From $1 |
| ⚖️ Leverage: | Up to 1:100 |
| 💱 Spread: | 0.01% |
| 🔧 Instruments: | Currencies, cryptos |
| 💹 Margin Call / Stop Out: | No |
KuCoin Pros and Cons
👍 Advantages of trading with KuCoin:
•he most popular cryptocurrencies and tokens are presented on the exchange;
•cryptocurrency exchange, spot, margin, and futures trading are offered;
•leverage up to x100 in the professional version;
•large trading volumes;
•a detailed guide for novice crypto traders;
•adaptive calculation of the commission depending on the trading volume;
•you can place your token on the exchange.
👎 Disadvantages of KuCoin:
•crypto exchange’s incomplete localization;
•lack of investment programs.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk. It's also important to pay attention to the safety of the trading platform and its legality in your country.
Trading Conditions for KuCoin Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. KuCoin offers traders the following conditions.
| 💻 Trading platform: | Proprietary platform |
| 📊 Accounts: | Standard, demo |
| 💰 Account currency: | BTC |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, cryptocurrency and electronic wallets |
| 🚀 Minimum deposit: | From $1 |
| ⚖️ Leverage: | Up to 1:100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | Zero-entry |
| 💱 Spread: | 0.01% |
| 🔧 Instruments: | Currencies, cryptos |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit order, Market order |
| ⭐ Trading features: | Low fees, you can bring your own token to the exchange, regular promotions |
| 🎁 Contests and bonuses: | "Futures Battle" tournament |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of KuCoin commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The fees of the KuCoin crypto exchange depend on the fee level of your account. The level rises when the activity (trading volume) increases. For example, if you trade less than 100 BTC in 30 days, your taker commission is 0.02%. But if you trade at least 100 BTC, then the taker commission is reduced to 0.015%. There are commissions for the maker. All of this relate also to spots and futures.
Note that the site has withdrawal limits, which are also determined by the trading level of your account. There are fees for deposits and withdrawals — these indicators differ for each cryptocurrency and token. For example, for DASH, the withdrawal fee is 0.002 DASH and the minimum deposit is 0.004 DASH.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.01% for market bid | No |
Investment programs of KuCoin
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. KuCoin offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The KuCoin crypto exchange does not offer investment programs and other passive income options (excluding the referral program, which will be discussed below). Traders receive their main income from direct trading through the exchange terminal.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
KuCoin’s affiliate program
KuCoin has a standard affiliate program. After registration, each user receives a personal referral link, which he can send to other people or publish in open sources.
A user who registers on the site using your referral link will bring you 20% of his fees on all their transactions.
The condition is valid for 12 months after the registration of the referred user. After this period, the user ceases to be considered as your referral.
An additional affiliate bonus can be obtained if you post a referral link on your blog. In this case, you can get up to 50% of all transactions of your referrals.
The second option (blog referral link) is not available to all users. To get this option, you need to submit a personal application, which may be rejected if the KuCoin administration decides that the activity on your blog/public/channel is not high enough.
Conclusion. Is KuCoin good for beginners?
The KuCoin cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, KuCoin could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.