It was actually started by the same people that were behind GF securities, Youling, jianbang, and iBOX PAY. That is quite a CV. But more importantly, its founders are well-versed in blockchain technology.
So be in no doubt that future prospects for this exchange are looking good. There has not been a single glitch with it since it was launched. To get an idea of how much traction this exchange is gaining, its research and development team only came together in May last year.
Since then, there has already been a Kucoin bonus plan as well as a multitude of additional currencies and apps with both Android and iOS compatibility.
But you do not get to build something so good so fast, without a strong foundation, and Kucoin has a very strong foundation. Its founding members have been researching the blockchain technology as far back as 2011 and had already formulated its technical structure in 2013.
The following years were devoted to the refinement of the more candid details until eventually, the platform achieved a seamless level of service. Lets see what the exchange has to offer to new traders in this Kucoin review.
Markets and Trading
The Kucoin website is a joy to use, retaining a clean and contemporary layout that also covers the market overview screen which displays the different trading pairs available. You can choose between BTC, ETH, NEO, KCS, and USDT.
Kucoin is a highly affordable exchange, charging extremely low fee rates in comparison to most other exchanges. Trading fees only amount to 0.1% depending on which assets you buy. There no fees at all for making deposits and for withdrawals, the percentage depends on which cryptocurrency is being withdrawn.
A few like NEO and GAS have no withdrawal fees attached to them and others have extremely low rates. The rate BTC is just 0.0005, for ETH, 0.01, and for LTC, 0.001.
Kucoin maintains very efficient services for its traders, offering multiple ways of getting in touch with the support team. Customer support is available 24 hours a day, 7 days a week, and has a record of resolving any and all issues in the quickest and most efficient possible way.
You can reach customer support via email or through the official website. In addition to answering questions, the support team is open to suggestions from traders regarding the platform and how it could be improved on.
Kucoin is no cheapskate on security. Making the platform a secure place to trade has been its prime focus from the time it was being developed. This is where you will really notice that it was developed with the use of financing level standards which contain a standard transfer encryption protocol for layers of data transfers.
That means that all sensitive and user data are encrypted and stored at a bank level. A multifactor dynamic authentication further heightens the security.
On the operational front, there is a department each for internal risk control and operations. Each department adheres to a rigid standard for the use of data that requires reviews and approvals at multiple levels.
Really the only test left for Kucoin to prove its worth as a safe cryptocurrency exchange is the test of time. Being so new to the industry, we will have to wait and see if all its safety measures will continue to respond well to security threats in the future.
However, knowing the vast experience of the people behind it is already good enough for many traders to sign themselves on and make full use of its facilities. In a way, their prowess in the security department has already been proven by the numerous platforms they have built before.
While Kucoin is still in its infant stages in the market, suffice it to say that it is a fast-growing baby, mostly because it has years of careful planning and research to back it up. If there is one criticism we make of it, it would have to be the still limited availability of trading pairs. However, it will not be long before more and more coins will be added.
That said, however, its phenomenal services, low fee rates, and tight security measures make this one of the more exciting and promising cryptocurrency exchanges to look forward to.