Kucoin is not as old and mature as many other trading platforms. Even though it has a short history, it has become one of the biggest competitors to the world-leading crypto trading platforms like Binance. Its success and the trading experience it provides are among the reasons why most people want to know more about it. So, here is our Kucoin Singapore review.
Many people know Kucoin only as a crypto trading platform, but it brings a lot of trading products and options in addition to crypto trading. With a wide range of trading options offered here, it also comes with attractive features like low trading fees.
Kucoin provides its services in more than 200 countries, and it has more than 10 million users currently active on it. The reason behind this is the reliability through different regulations that it brings. However, it is not all good as some things may make you stay away from it. In this Kucoin Singapore review, we will try to cover all such things in detail.
Trading experience at Kucoin
The trading experience here at Kucoin is pretty straightforward. There are mobile applications available for iPhones and Android devices. Moreover, it also provides a website, and the best part is that you get the same features and experience as a standard over all the platforms and devices.
You can access Kucoin with the account that you sign up with and once you sign up everything from your account will be synced across all your devices. One thing that you need to be a little careful about is your personal experience.
Some people want mobile application trading options to trade on the go. Similarly, some want a detailed trading experience with a desktop application. So, when it is about your experience, go with the platform that you like the most.
Fees at Kucoin
The pricing structure at Kucoin is also very attractive. Although there are variable fees for different products and trades, the fees usually range from 0.0125% and do not go more than 0.1%.
Even though these rates are not set as a standard for all accounts, they vary depending on the tier. However, all of these are still very low when you compare them with the competitors that can sometimes charge as much as 0.5% for every trade you make.
Charges at Kucoin
There are 2 main types of charges that trading platforms and online brokerages charge. These include withdrawal fees and deposit fees. While the deposits are free, withdrawals have a little fee. However, this also varies. Moreover, some limits may make deposits and withdrawals a little complex for you.
Security and reliability
In terms of security and reliability, Kucoin does not have a very good record and it is one of those things that are very important to include in the Kucoin review. There was a data breach that resulted in a huge loss.
Luckily everything was covered under insurance so none of the Kucoin had to face any issues. Now, Kucoin offers better and higher levels of security by all of the following features:
- Multi-factor authentication MFA
- Different passwords for transactions and trading accounts
Along with these options, some other uncommon security measures make it a much more reliable platform now.
How easy is it to open an account here?
A very user-friendly thing about Kucoin is that the account opening process is easy and quick. It does not take any more than a few minutes when you start with the signup process. There is not a lot that you need to do apart from providing your regular verification details like email address, password, phone number, and such stuff. As soon as you complete the account setup process you are done.
Now you can start trading without worrying about anything. An interesting fact about Kucoin is that it provides a different set of features and those depend on the level of verification you go through. So, the basic account setup process will have the least feature and if you go for KYC verification you can get more advanced features.
Pros and cons of Kucoin
- Building a larger portfolio with earnings through crypto and other trading products is easy here
- Kucoin provides trading options with more than 600 cryptocurrencies making it better than many.
- You can get 24/7 customer support at Kucoin
- No forced KYC checks here at Kucoin
- There are no fiat trading pairs
- A little hard to start for beginners
- No bank deposit option is available
Even though Kucoin brings good value to its users in the form of unique features and benefits, the user reviews online are not great. It means that you may need to be a little extra careful when going with Kucoin.
Customer service at Kucoin
Bringing the best value for users is how a trading platform is how it can be successful. Kucoin does it by offering good customer service. There are different options to contact customer support via email or phone and there is a live chat option available as well. The best part here is that you can request special assistance if you go through some special issue.
How is Kucoin unique?
As there are many different trading platforms operational today in the whole world, the competition is getting hard. There are some ways by which Kucoin brings a unique experience to its users. Those things include:
- Wide range of currencies
- Less fee
- Staking and margin support and such things
- With these things, many are standard with most competitors.
Kucoin is one of the world’s leading platforms when we talk about crypto trading. In this Kucoin Singapore review, we were discussing different things about it that make it a good option and things that are still lacking here.
When it comes to your decision-making moment, you must always consider the option that brings the best experience, value, and prices for you. Whether you are a beginner or an expert, selecting the right platform will benefit you from the very first day.
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