KuCoin was launched in 2017 by what the company as “blockchain enthusiasts”. The CEO is Michael Gan, an Ant Financial alum.
Founded by a group of blockchain enthusiasts who had proved themselves in industry giants like Ant Financial and GF Securities, Kucoin aims at providing users digital asset transaction and exchange services which are even more safe and convenient, integrating premium assets worldwide, and constructing state of the art transaction platform.
While there are no major security breaches to speak of, KuCoin in 2018 was the target of what appear to be phishing attacks, in response to which a KuCoin community spokesperson reminded traders on the Reddit platform
As per the KuCoin white paper: “Wallets in the platform … adopted multiple security levels of storage solution in line with their storage scale. We have stored the micro-withdrawal wallets in the private network architecture built on Amazon Web Services Cloud which has multi-layer firewall on the basis of security isolation.
KuCoin has integrated what they describe as “bank-level disaster proof deployment” with a multiple locations and centers to juggle tasks at the same time. The exchange applies this system across the trading platform as well as the accounting system. As a result, KuCoin should remain operational in the event of a “hardware failure” or “natural disasters.”
KuCoin relies on an “industry standard transfer encryption protocol” for data transfer layers, which basically means that your personal information is encrypted. The exchange also has “multi-factor” authentication for transactions including withdrawals. KuCoin says it has similarly implemented tight operational/internal risk controls to protect user data.
KuCoin further attributes its financial security to a key-dependent multi-layer encrypted wallet “cipher code” that’s “preserved by a special person.” The exchange also points to “macro-wallets” that are “stored in bank custody.”
There have been no major hacks to the trading platform, though some individual users have posted about funds disappearing. The exchange requires two-factor authentication (2FA) for trades, but there doesn’t appear to be a requirement for know-your-customer (KYC) verification processes, at least not yet. The poster on the following Reddit thread, kentli35, is representing KuCoin.
KuCoin is a Wild West for altcoins, with the trading platform already supporting hundreds of trading pairs with plans for more. Other exchanges, like tk’s BTCC, take a more risk-averse approach, shunning most altcoins altogether. The approach that’s best depends on the risk/reward profile of the trader.
KuCoin hasn’t experienced any major security breaches and it adopted a seemingly secure wallet system on Amazon Web Services Cloud involving a “multi-layer firewall.” They’ve unlocked the secret to creating a devoted following, which is through its bonus and promotion strategy that seems to be working. KuCoin boasts a seasoned management team that has been engaged with cryptocurrencies for years, despite the exchange’s late emergence in 2017.
KuCoin has an API, the documentation for which can be accessed here.
The exchange also has a mobile app for both iOS and Android systems. You can access the downloadable links for both apps here. Use the downloadable links from the KuCoin website to get the official mobile app from the exchange. Otherwise you might not download the official app.
You should be able to buy and sell coins with the app. As of Q1 2018, the app was in beta format though it remains fully functional. The exchange is monitoring user feedback and plans to make changes to functionality soon. One of the issues that users reported on Android was not being able to use the search function for coins.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|