KuCoin Review for Australia 2022

Making Cryptocurrency Simple
Liam Kemp — Last Updated on March 29, 2022

Finding a cryptocurrency exchange can be a taxing ordeal because there are so many platforms available. Whether you’re an experienced crypto trader or someone who’s starting, you should always seek a reliable crypto exchange with a fair amount of supported cryptocurrencies, excellent security measures, low trading fees, and responsive customer support.

Kucoin exchange logo

Your natural inclination may be to choose a crypto exchange platform with deep roots and plenty of experience. It is possible, however, for newer platforms to hit most of the necessary markers.

Today, we will examine KuCoin. Though it’s one of the newest cryptocurrency exchanges, it has a strong reputation and low trading fees.

Continue reading our KuCoin exchange review for Australia below to see how it stacks up against the competition.


About KuCoin

KuCoin is a global third-party cryptocurrency exchange for various digital assets and cryptocurrencies. Through the exchange, customers can sell, trade, and buy different digital assets with ease. They deal solely with cryptocurrency assets and do not offer fiat trading pairs.

The exchange was launched in May 2017 by a team of skilled business specialists with blockchain and cryptocurrency experience. They decided in 2011 to begin developing a safe, simplified exchange for people throughout the world to trade digital coins. By 2013, the team had developed the technical architecture that would become the KuCoin exchange we know today.

Kucoin homepage

Though its roots are in Hong Kong, today, KuCoin’s headquarters is in Seychelles. They have facilities in India, Vietnam, Japan, Spain, South Korea, and other regions and employ over 300 individuals worldwide. KuCoin boasts that one of every four crypto holders globally is with their exchange.

Supported Cryptocurrencies

Currently, the KuCoin crypto exchange supports over 200 types of cryptocurrencies, over 300 different trading pairs, and more than 400 markets. They regularly add to their list of crypto assets that users can sell, buy, and trade.

Some of the popular coins KuCoin features on their platform include Ethereum, Bitcoin Cash, Litecoin, and Bitcoin. They also host less popular options like Lympo and VeChain.

KuCoin exchange for altcoins

Though KuCoin supports well-known cryptocurrencies, it also supports digital assets that recently completed their initial coin offering or ICO. Their support of new cryptocurrencies is ideal for anyone who wants to purchase coins as soon as they hit the market.

KuCoin Shares

In 2017, KuCoin developed its native cryptocurrency called KuCoin Shares (KCS). These tokens assisted in funding the exchange’s creation. Overall, the company gave out 200,000,000 KCS to its founders and private and regular investors.

Anyone holding KuCoin Shares will receive trading discounts, low withdrawal fees, and a daily 50% share of cryptocurrency dividends. KCS also comes with a trading fee discount where a holder can get a 1% discount per 1000 KCS, maxing out at 30% for 30,000 KCS. Another benefit of holding KCS is access to more trading pairs, including EOS, BTC, USDT, GO, ETH, and XRP.

Users can earn KCS through the KuCoin referral program. Whenever an invited user completes a purchase, the referrer can receive a referral bonus of up to 20%.

Payment Methods

Initially, KuCoin only accepted cryptocurrency payments. Thanks to the company’s partnerships with Banxa, Simplex, and PayMIR, it is now possible to pay for cryptocurrencies with fiat. You can use your bank card to make purchases instead of only using cryptocurrencies.

Kucoin exchange features

These transactions have fees, but the amounts vary depending on the type of payment method you choose. The fee percentage typically ranges between 5% to 7%. For instance, using Banxa to buy KuCoin cryptocurrencies can result in a 4% to 6% transaction fee on top of the total purchase amount.

KuCoin recently added PayPal, Interac e-Transfer, and wire transfer as additional payment methods for P2P fiat trading. Though wire transfers can take up to two business days to go through, PayPal and Interac e-Transfer completes their transactions almost instantaneously. The e-transfer can take up to 30 minutes.

KuCoin doesn’t charge for deposits, but they do have some withdrawal fees on top of third party fiat transaction fees. Most withdrawals will hit the user’s digital wallet within three hours, but large amounts can take up to eight hours.

Trading Fees and Limits

KuCoin crypto exchange offers some of the lowest fees among other exchanges.


Every transaction for KuCoin spot trading will have a 0.1% fee for the maker and the taker. This rate is on par with Binance, one of the top crypto exchanges made famous for its low trading fees. Typically, trading costs with KuCoin will decrease based on a user’s 30-day trading volume.

For instance, if a user’s 30-day trade volume in BTC is less than or equal to 500, their maker/taker fee changes to 0.05% and 0.08%, respectively.

KuCoin Shares holders are entitled to additional trading discounts, so their fees will be under 0.1% if they use their KCS tokens to cover their expenses.


KuCoin withdrawal limits tie directly into the type of account a person has with the platform. Though the exchange offers one account type across the board, there are several verification levels, and each one has different limitations.

KuCoin platform fees

An unverified account has a withdrawal limit of 2 BTC within 24 hours. This limit is higher than some other crypto exchanges allow for their unverified accounts. This limit may be acceptable for small volume traders.

A standard verified account has a withdrawal maximum of 100 BTC within 24 hours. Verified institutional accounts can withdraw up to 500 BTC every 24 hours.

Verifying a personal account isn’t mandatory, but KuCoin strongly recommends it. Not only will it prevent issues in the future, but it will also allow customers to use fiat-to-crypto trading once the platform approves it.

If you choose to verify your account, you’d need to submit a scan of your identification and proof of your country of residence. A passport is an acceptable way to prove your identity and residence. The immediate benefit of taking this extra step is an increased withdrawal limit.

Customer Support

KuCoin has excellent customer service, which is available 24/7. Users can reach out to the exchange’s support team via the company’s website, email, social media, ticketing system, and other methods. The staff appears to be well-trained and will respond quickly and accurately to customer inquiries.

KuCoin customer support page

One of the KuCoin customer service department’s best aspects is that it assists users in multiple languages. KuCoin prides itself on being an easy-to-use global exchange, and that mission is reflected in its customer service diversity and effectiveness.

In addition to a 24/7 hotline chat service, users can receive support from KuCoin’s informative Help Center and FAQ Center. If they prefer to speak to a representative, they can expect a response within a few hours, which is significantly better than most other cryptocurrency exchange platforms. Representatives appear friendly, professional, and knowledgeable.

Safety Features

KuCoin may be one of the newer exchanges to hit the market, but their safety measures appear effective. As of this Kucoin exchange review, they have not had any hacks or breaches that put their clients’ personal information or digital assets at risk.

To keep their platform secure, KuCoin uses a mix of system and operational security measures. The exchange’s creators followed the financial industry’s standards during the platform’s development. Using these standards as a foundation for security gave the platform bank-level security and data encryption.

In terms of operation, KuCoin has several risk control departments that enforce strict data usage rules for the platform. They also have a partnership with a Singapore-based crypto service provider to care for KuCoin’s assets. The strategic partnership between both companies makes it significantly harder for hackers to infiltrate the platform and steal valuable assets.

KuCoin solidifies its security with user account security features. These measures include two-factor authentication, email notifications, a login safety phrase, security questions, and phone verification. Most of these features are not mandatory, but they significantly reduce the risk of unauthorized account use when used together.


  • Low trading fees
  • A lot of cryptocurrencies on offer
  • No KYC is required to start


  • Unregulated

Frequently Asked Questions

How safe is it to use KuCoin?

KuCoin is very safe to use. A testament to the effectiveness of its safety features is its lack of hacks and data breaches.

The crypto exchange takes great care to seal loopholes cyber attackers could exploit, including those within the system and operations. For instance, their adherence to the financial industry’s standards gives the company superior encryption capabilities. They also work with a knowledgeable team that monitors the exchange’s data usage around the world.

KuCoin provides additional security measures to ensure that their customers feel safe trading within their platform. These features include two-factor authentication, email and phone confirmations, and safety phrases for logins.

Does KuCoin have a mobile app?

Yes. If you prefer to engage in crypto trading without using the KuCoin website, they offer a convenient app. The app is available for download for both Android and iOS devices.

The app provides users with a smooth interface that includes the website’s essential features. Users can view their charts, trade cryptocurrencies, and review their trade history.

Is KuCoin regulated?

KuCoin originates from Hong Kong. While the region is home to plenty of crypto exchanges, no legislation is available to provide regulations for these exchanges.

The lack of official legislative oversight does not mean the company is unreliable. KuCoin has proven itself to be a reliable cryptocurrency exchange with an outstanding reputation.

Before its inception, KuCoin CEO and founder, Michael Gam, was an employee at Ant Financial, the world’s most valuable Fintech company. He and the other founders only launched KuCoin in 2017 after refining and testing its software and technical aspects. KuCoin strives to maintain its reliability, with or without legislative regulations.

How do you buy cryptocurrency using KuCoin?

KuCoin’s interface allows for simple functions across the board, including cryptocurrency purchases. To buy coins, add money to your account. Next, select “Markets” near the top of your account’s dashboard.

Once you open up the Market tab, use the search box to type in the name of the coin you want to buy. KuCoin will display all the available trading pairs. Make your selection from the trading screen, enter the number of coins you want, and finish your trade by clicking the “Buy” button.

Summing It Up

Based on our KuCoin exchange review, we decided that this crypto exchange platform is one of the best to use. As a global platform, it boasts a beginner-friendly interface with features more experienced crypto traders can appreciate.

In addition to the 200-plus cryptocurrencies the platform supports, it also has its own cryptocurrency, KuCoin Shares. Holders for KuCoin Shares can use the token’s benefits to reduce the already low trading fees further. At 0.1%, this exchange platform’s trading fee is on par with the more widely known Binance exchange.

One drawback to KuCoin is its lack of fiat trading, though it is possible to use fiat to purchase cryptocurrency. We are confident the company will address this issue as it continues to grow.

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