KuCoin Futures Review
What is KuCoin Futures?
KuCoin Futures is an exchange (or rather, a part of KuCoin) from Singapore that launched on 8 July 2019. It focuses on derivatives trading.
A derivative is an instrument priced based on the value of another asset (normally stocks, bonds, commodities etc). In the cryptocurrency world, derivatives accordingly derive its values from the prices of specific cryptocurrencies. You can engage in two different types of derivatives contracts here: perpetual contracts and futures. With the futures, you can only trade BTC/USD. But with the perpetuals, you can trade a large number of different contracts.
The platform is backed by KuCoin.
On the date of last updating this review (16 January 2023), KuCoin Futures had a 24 hour trading volume in their derivatives trading amounting to USD 2.47 billion according to Coinmarketcap.com. This gave it place number 17 in the CMC-list of the exchanges in the world with the highest derivatives trading volume.
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that the trading platform of Kucoin Futures is also mobile compatible.
Languages and Fiat Currencies
KuCoin Futures supports 20 different languages, including English, Chinese, Russian, Vietnamese and more. For a list of all supported languages, together with all supported fiat currencies, please see the picture below in this paragraph. It is clear to us that KuCoin Futures strive to be available to everyone.
KuCoin Futures Lite and KuCoin Futures Pro
KuCoin Futures offers its platform in two formats: Lite and Pro. Pro is for the investors that are more experienced, whereas Lite is for the investors that are beginning their contract trading careers. KuCoin Futures markets the Lite version of the platform as the most friendly platform for new futures users in the world.
Specific Features of KuCoin Futures Lite
There are a few things with the Lite version that should be mentioned specifically, to show how it is different from the more advanced versions of contract trading platforms.
First off, the price trending chart is simplified by switching from candlestick charts to line charts.
Second, on KuCoin Futures Lite, users just need to input the order amount, then decide on the leverage and long/short to place an order. In addition, what they input for each order is the amount of money rather than the number of slots, making it more friendly for novice traders.
Third, KuCoin Futures Lite provides a long-short ratio to help users understand the latest market sentiments. It also provides a revenue calculator to help calculate the return with different principals, leverages and strategies. In addition, revenue ranking on KuCoin Futures Lite can provide insights regarding other traders’ strategies and ROI, resulting in a more advanced trading strategy.
Fourth and finally, the minimum order amount is only USD 1.00 (it is often much higher).
KuCoin Futures Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. This is the trading view at KuCoin Futures, obtained on 16 January 2023 (using Pro Version, when not signed in):
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
KuCoin Futures Fees
KuCoin Futures Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. We call makers “makers” because their orders make the liquidity in a market.
KuCoin Futures charges takers 0.06% and makers 0.02%. Compared to the contracts trading industry average fees, these fees are quite on point with average. The contracts trading industry averages were 0.0618% for takers and 0.0259% for makers when we performed our most recent empirical study.
KuCoin Futures Withdrawal fees
KuCoin Futures charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is quite in line with the global industry average BTC-withdrawal fee, being 0.0004599 BTC according to our most recent empirical study.
All in all, both the trading fees and withdrawal fees at KuCoin Futures are in line with or even below the industry averages, which is great.
Deposit Methods and US-investors
According to info we have received directly from KuCoin Futures, US-investors may trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency. There might be specific state laws that provide obstacles to US-trading, even though the platform itself welcomes Americans.
At KuCoin Futures, you can deposit through credit cards, but not via wire transfer. It is usually the other way around. Credit card deposits can be very helpful for newer crypto investors as it creates an “easy way in” into the crypto world. That fiat currency deposits are at all accepted also makes KuCoin Futures a so called “entry-level exchange”.
Are KuCoin Futures' fees high?
The fees charged by KuCoin Futures are lower than the industry average and very competitive. When contract trading, you pay 0.06% if you are a taker and 0.02% if you are a maker.
What is the minimum deposit on KuCoin Futures?
KuCoin Futures has no minimum deposit requirement when you deposit cryptocurrency. However, the minimum order amount is USD 1.00 (it is often much higher).
How long is the withdrawal time at KuCoin Futures?
In our experience, withdrawals at KuCoin (the platform operating KuCoin Futures) take on average 2 minutes for USDT (on the TRC20-network) and 6 minutes for ETH.
Has KuCoin Futures ever been hacked?
KuCoin (the platform operating KuCoin Futures) has been hacked, most notoriously on 25 September 2020. It has however been reported that all user assets affected by the hacking was recovered or reimbursed.
Is KuCoin Futures secure?
While KuCoin (the platform operating KuCoin Futures) has been hacked (most notoriously on 25 September 2020), we still think that it is correct to say that KuCoin today, from a user perspective, is secure.
Where is KuCoin Futures based?
KuCoin Futures is based in the Seychelles (previously Hong Kong).
Which countries are restricted from using KuCoin Futures?