This article explains how to open an account at the KuCoin exchange, procedures, identity verification KYC method, 2-step authentication, and the entire process before trading, including fees. KuCoin is similar to other exchanges, and opening an account does not take much time. It will take some time to authenticate your identity. It is a very safe virtual currency exchange as it is possible to trade within a high security system.
What is KuCoin? What kind of exchange is it?
KuCoin is a virtual currency exchange established in Hong Kong in 2017. When you think of China, you can’t get rid of the suspicious impression, but we are currently moving our base to Seychelles, East Africa. Therefore, it can be said to be a very safe exchange. The number of currencies handled is over 600, and the maximum leverage is 100x, so the scale of the operating company is large. Because we are expanding globally, we are a top-class exchange and support languages such as English, Japanese, Spanish, and French. The base currency is BTC (Bitcoin).
| Operating company | KuCoin |
| number of virtual currencies | 600～ |
| transaction fees | Maker fee: 0.1% Taker fee: 0.1% Deposit and withdrawal fees: Free |
| maximum leverage | 100 |
| Minimum transaction amount | 1$〜 |
| Bonus campaign | 〇 |
| Deposit and withdrawal methods | Bank cards and accounts, cryptocurrency and electronic wallets |
| Language | 日本語 English Русский 한국어 Português Nederlands 中文繁體 Deutsch Français Español Tiếng Việt Türkçe Italiano Bahasa Melayu Bahasa Indonesia हिंदी ไทย العربية বাংলা Polski Filipino اردو |
have a financial license
KuCoin was fined by the Seychelles Financial Services Authority, FSA, for operating without a FSA license. Since then, KuCoin has firmly obtained the FSA license and is therefore regulated. Therefore, it can be said that it is very safe and reliable. Trader client assets are now fully protected, of course. KuCoin has established an audit department and is focusing on security.
Huge amount of hacking in the past
KuCoin was hacked in 2020, resulting in an incident in which 200 million dollars of funds were illegally leaked. Although we were hacked, we have responded quickly and strengthened our security system, making it extremely safe to use. Two-factor authentication is always required for registered users. Funds are securely managed on the wallet page.
The number of users is large worldwide
The following is a quote from TradersUnion, a review site for major overseas virtual currency exchanges. Users are mainly from the United States and India, but there are also many from Japan and Canada. In addition, there are many users in Mexico and Venezuela in Central and South America. There are many users compared to binance etc.
Source : TradersUnion
KuCoin account opening method and procedure
To open a KuCoin account, first press the button below. The official website will open and you will see a login screen. To deposit money, you must first open an account. Once completed, you will receive the service offer, receive campaign benefits and discount bonuses, and easily invite and refer friends. It is recommended because it also has its own coin, KCS, and handles more coin brands than Binance.
When you click the button above, the official screen below will appear. You can change the language using the button at the top right of the screen, so please refer to it. First, please enter either your phone number or email address. When selecting a phone number, select from the country code. When you enter the code, you will receive an SMS verification code to your phone number, so enter the code you received. If it’s an email, just enter it as is. Then set a password and click “Sign up”. Your account has now been issued and is complete.
Source kucoin
How to set up KuCoin security
Even after opening a KuCoin account, we recommend security measures. There is a reason for this, as KuCoin was previously hacked. Also, you can start trading without setting security, but it will be a risk, so please make sure to set security properly to protect your assets. The security categories include the following three: I will explain each using images.
Google Authenticator
Google Authenticator is the authentication method used by most crypto asset exchanges. An app called Google Authenticator is required in advance. First, download the app using the link below and complete the installation.
Once you’re done, log in and go to My Page’s official website, click your profile icon to expand the menu, and select Security Settings.
Source kucoin
Click on Google Authentication. The “Send Code” screen will then appear, so click on it, enter the verification code, and proceed to the next step.
Source kucoin
Read the QR code on the screen using the authentication app you downloaded. Click Activate to complete.
Source kucoin
Transaction password setting
By setting a transaction password, you will be required to enter the password set at the time of transaction. By setting this, it is a mechanism that prevents anyone other than the user from making withdrawals due to unauthorized access. Please select the transaction password setting from the security settings.
Source kucoin
Set a 6-digit transaction password. Then enter it again for confirmation and click Confirm to complete.
Source kucoin
anti-phishing code
It is possible to set an anti-phishing code. Anti-phishing code can prevent phishing scams in email content. If you set any characters, they will be displayed in emails from the official website, so you will know that the email is legitimate. This is a measure against phishing scams. To set it up, go to “Security Settings” and click on the email anti-phishing code, login anti-phishing code, and withdrawal anti-phishing code.
Source kucoin
By setting different strings for each, you can further strengthen security.
Source kucoin
How to set up identity verification (KYC)
With Kucoin, you can trade without having to verify your identity. However, there are some benefits to verifying your identity. We recommend that you complete your identity verification as there are many benefits.
- You can withdraw up to 200 BTC per day
- Daily trading limit increased by 70,000 USDT
- Account recovery possible
- Possible to change leverage up to 100x
All that is required for identity verification is a photo ID such as a passport, driver’s license, My Number card, or residence card. Click KYC Verification from your profile icon. Then enter your personal information such as country of residence and name in the form. Select the ID you have, enter the number and click “Send”.
Source kucoin
Since you will be uploading your identity verification documents, a QR code will be displayed, so please use your smartphone app to scan it. Select “Register identity verification information” from the smartphone app to take an ID photo.
Source kucoin
We will actually take a photo of your ID. Proceed with shooting according to the guidance. After the shooting is completed, Kucoin will begin verifying the submitted documents. There will be various checks, which will be completed within a few days.
Source kucoin
Reasons why you cannot open an account or log in and frequently asked questions
Below is a summary of the phenomena that often occur when opening an account or logging in. Please use this as a reference when accessing and getting started. Details include: Once you open an account, you can buy and sell with your smartphone.
Can my personal information be stolen?
The chances of your personal information being stolen are significantly lower. Since the hacking incident occurred, KuCoin has taken very strict security measures. If you fail to do this, your account may be accessed by unauthorized persons, so please be sure to do so.
I forgot my login information
There may be times when you are unable to log in to Kucoin or have forgotten your password. You will need an email address and password to log in, and if you have two-step verification set up, you will also need an authentication code from your smartphone app. If you cannot remember your password information, you can reset it by clicking “Forgot your password?” from the login page.
Can’t connect to server
There are cases where you cannot log in to Kucoin or open an account due to server maintenance or failure. Please refresh your browser or wait a while before logging in. Or check the official website.
Time required to open an account
Opening an account itself takes about a minute. There are no fees for opening an account, and you can open one for free. Security settings can be completed in about 10 minutes, so it is not a hassle. If you are unsure, please use the support center.
Withdrawal exceeding withdrawal limit
If you verify your identity (KYC), the limit will increase, but if you still reach the limit, you will be able to withdraw from the next day as before. Therefore, we recommend waiting until the next day.
Prohibited acts and account freezing
KuCoin has prohibited actions, such as harassing other users and hacking, which will result in your account being frozen. Violation of the Terms of Use or false reporting of registered information will generally result in suspension. Also, you cannot participate in trading unless you are over 18 years old.
How to cancel and withdraw your account
Click Remove from Security Settings. Please read the instructions carefully before deleting your account.
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