Novice users will inevitably experience a learning curve, but once you find your way around, it becomes almost second nature. KuCoin refers to itself as “The People’s Exchange”, serving over 20 million customers in over 200 countries. For a detailed look at what Binance offers, check out Binance Exchange Review: Best Crypto Exchange? KCS token holders are also entitled to 20% off trading fees. They have over 700 supported cryptocurrencies meaning you can trade lots of small-cap tokens with low trading fees.

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The app is also very responsive and not buggy. So now you can quickly see the price at which you previously traded the same coins. It is also worth mentioning that KuCoin have suffered hacks in 2020 and 2021. Although they were unable to completely recover the stolen cryptocurrencies, they were still able to make users whole through their insurance fund. We are also very happy to see that KuCoin’s updated app allows you to filter your trading history to only see your current trading pair.

They are also both still within the top 10 exchanges with the highest 24-hour trading volume according to CoinGecko. For example, both exchanges have data showing their proof of reserves. Both exchanges still keep updated on what customers expect from a reputable cryptocurrency exchange. They have both also taken an extra step to hire third parties to audit their assets so as to reassure users the exchange has sufficient funds to back customers’ assets on the exchange.

What makes a good or bad cryptocurrency exchange? A good security track record: A good cryptocurrency exchange should not have suffered any significant hacks. They should also promptly update customers when any issues arise, such as when there are hacks or negative press. No KYC (know-your-customer) policy: KYC is admittedly troublesome. Transparency: A good crypto exchange will be open about where users’ deposits are held. And even if there have been hacks, a good exchange reacts quickly and ensures customers’ funds are fully recovered. But, it is a necessary safeguard for all crypto traders: This is because if the exchange collapses or there is a hack, KYC proves you are their client and that any funds deposited belong to you.