KuCoin Review 2022 – Forbes Advisor

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KuCoin’s trading fees are very competitive, on par with industry leader Binance.US. Additionally, investors can receive a discount based on their average monthly holding of the platform’s native token, KCS, or their previous month’s trading volume. They can reduce the fee even more (by an additional 20%) if they pay with KCS.

Like most crypto exchanges, KuCoin has a maker/taker fee structure, which means you pay different fees depending on whether your order is considered a maker or a taker.

Manufacturers create liquidity on an exchange by providing new open orders for others to fill. Takers, on the other hand, reduce liquidity by executing orders from existing makers. You can’t know in advance whether your order will be a maker or a taker, so you probably won’t know in advance exactly what your charges will be.

*All trading volumes are valued in Bitcoin

The fee you end up paying depends on the amount you traded in the last 30 days. KuCoin measures your 30-day trading volume in Bitcoin (BTC) rather than US dollars, which can make it difficult to compare its fees with other exchanges.

Given Bitcoin’s volatility these days, investors face rapidly changing requirements compared to other exchanges to get a volume discount. KuCoin’s fees, however, can be lower than most other exchanges, even before rebates.

US users can purchase selected cryptocurrencies by credit card through third-party partners and have the coins deposited into their KuCoin account. Fees for this workaround range from 3.5% to 5%, with a $10 minimum at a partner. This is in addition to a range of fees charged by credit card companies to buy crypto.

Like most crypto exchanges, you pay a fee to withdraw almost any cryptocurrency from your KuCoin account. For example, the current fee to withdraw Bitcoin from the platform is 0.0005 BTC, which would equate to approximately $21.50 in mid-January 2022. The fee depends on the specific coin, so be sure to check them before making your purchase if you plan to transfer your coins to another wallet or exchange.

If you plan to move coins frequently, it might be worth comparing the all-inclusive trading and withdrawal fees of a platform like Gemini, which offers a number of free withdrawals per month and is much more beginner-friendly.

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