Kucoin Exchange

The KuCoin Exchange is a major cryptocurrency exchange that mainly operates in Asia. However, in recent months, KuCoin usage throughout Europe has increased. According to statistics from CoinMarketCap, KuCoin is one of the top 10 largest cryptocurrency exchanges regarding trading volume. Exchanges such as Binance, Coinbase Exchange, Kraken, Gate.io, and Upbit have a higher trading volume than KuCoin. Nevertheless, KuCoin is one of the exchanges with the most cryptocurrencies and tokens listed. Moreover, KuCoin is one of the few exchanges that has published its Proof-of-Reserves.

The KuCoin Exchange opened its doors to the world back in 2017. This cryptocurrency exchange was available everywhere at first, but then, some countries introduced harsher regulations, causing it to halt operations in those specific countries. Nevertheless, the majority of the world still can use KuCoin with no limitations. To avoid regulations, KuCoin registered itself as a Seychelles-based crypto exchange. Its motto is “the people’s exchange.” This leads us to believe that KuCoin is customer-based and its ultimate goal is making its customers happy with the platform.

The founder and current CEO of the company, Johnny Lyu, is well-known in the crypto sector. After the FTX collapse, KuCoin was one of the first exchanges to make their Proof-of-Reserves public. This increased the credibility sentiment around KuCoin in the market. Moreover, KuCoin is continuously working towards adding new features to its platform to accelerate crypto mainstream adoption. In a recent retweet, Lyu emphasizes the fact that, despite the damage the FTX collapse did to the market, it will recover.

“When Mt. Gox collapsed in 2014, it was a more significant player in the market than FTX is today. The crash led to a serious market impact, but things recovered quickly.”

Johnny Lyu, CEO of KuCoin

KuCoin Exchange Features

As we said, KuCoin Exchange is one of the biggest cryptocurrency exchanges in the world. Although this exchange is limited in some countries and prohibited in some others, it still has one of the largest daily trading volumes in the market. Today, KuCoin is available in more than 200 countries and regions. Moreover, this cryptocurrency exchange provides its services to more than 20 million users. The top five countries using KuCoin are India, Iran, Canada, the United Kingdom, and the United States. By the end of 2021, KuCoin had reached an annual trading volume of $1 trillion for the first time since its debut.

KuCoin is preferred by millions. Its transparency, security, and variety of altcoins make it one of the most used exchanges in the world. However, KuCoin has a long way to go before overcoming Binance and Coinbase. This does not mean that KuCoin has no chance in doing so. Every month, KuCoin is one step closer to becoming the best cryptocurrency exchange in the world. They update their user interface quite often, adapting it to the needs of their users. Moreover, the user experience has been getting better and better each year. Having published their Proof-of-Reserves also increased the level of confidence that this exchange had from the public.

According to their PoR, KuCoin’s reserves are made up from:

• USD Tether (USDT) – 829 million
• KuCoin Token (KCS) – 65 million
• Bitcoin (BTC) – 17,000
• Ethereum (ETH) – 165,000

KuCoin offers these deposit and withdraw methods:

Unlike Coinbase, KuCoin supports 48 fiat currencies. This feature makes it possible for individuals from all around the world to use KuCoin for investing in the cryptocurrency of their liking. Having such high exposure is often positive for a cryptocurrency exchange as it drives people to use that particular exchange, contributing to its trading volume and increasing its liquidity. As per the coins listed, KuCoin is one of the few exchanges that has more than 750 coins listed. KuCoin always tries to integrate new projects with high potential into its platform so that they grow with them.