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Complete Guide to KuCoin Fees
At a Glance
- KuCoin is a popular cryptocurrency exchange offering accessible trading fees and a diverse range of cryptocurrencies.
- The platform provides various ways to earn money, including futures and margin trading, with a user-friendly interface.
- KuCoin prioritizes security through measures like KYC, two-factor authentication, trading passwords, and collaboration with Onchain Custodian for asset storage.
- The exchange operates on a level-based fee structure, and users holding the KuCoin token (KCS) may benefit from lower fees, starting at 0.1% for spot trading.
If you want to trade cryptocurrencies, one of the first things that you must be aware of is the fees. Some exchanges charge very expensive fees. This can quickly drain your earnings, especially if you’re just a beginner trader.
To trade more efficiently, you need to have a good handle on your chosen platform’s fees. In this article, we will talk about trading on KuCoin and the costs that you will incur.
What is KuCoin?
KuCoin is a trader-friendly exchange that features accessible trading fees and an extensive list of available cryptocurrencies.
Established in September of 2017 by Micheal Gan and Eric Don, the exchange is currently surging in popularity because of its excellent features.
As mentioned, KuCoin has some of the lowest trading fees, even among top exchanges. It also features an excellent interface for trading and multiple ways to earn money by futures, margin, and peer-to-peer trading.
Aside from that, KuCoin cares greatly about the security of its users. It is currently partnered with Singapore-based digital asset custodian Onchain Custodian to store and secure all its crypto assets. The platform also implements industry-standard security features such as the KYC process and two-factor authentication.
The exchange even utilizes a couple of innovative security solutions to enhance their security further, such as trading passwords and the KuCoin Safeguard Program.
Because of its accessibility and commitment to security, KuCoin has become one of the largest cryptocurrency exchanges, with about one in four traders using its interface.
Does KuCoin Have Fees?
Although touted as one of the most affordable exchanges in the market, KuCoin does still have fees. It uses a level-based pay structure, where those in the higher tiers gain lower trading fees when they buy and sell coins.
KuCoin’s fee system will be further explained in the section below.
KuCoin Fees Explained
As mentioned, KuCoin has a 1-12 leveling system. The higher your level is the lower your trading fees.
Your level changes every day depending on your 30-day average trading volume and KCS holdings. There are set requirements for every level, and you need to meet them at 00:00 AM (UTC+8) to qualify for a level. You’ll be able to enjoy your current level for the next 24 hours.
In short, the more you trade and the more KCS you hold within the day, the lower your fees will be.
Trading Fee Level
You can check your trading fee level when you log in to your KuCoin account. Simply click the Fee button on your interface after logging in.
Your level will be displayed on the page. If your level is high enough, you may even get a negative fee rate.
Trading Fees and Levels Overview
In KuCoin, different roles incur different trading fees. Here’s a summary of how your trading fees are affected, whether you’re a market maker or a market taker.
- Maker/Taker: Market Takers and Makers will have different fees.
- Taker: Being a Taker in specific kinds of orders (market, hidden, or iceberg) will incur a taker fee.
- Maker: You will incur a Maker Fee if you activated the Post Only option in a limit order.
- KCS Pay: You can further reduce your trading fees in spot or margin trading if you enable the KCS Pay Fee feature, which allows you to pay with your KCS holding. The discount can be up to 20%.
- Trading fee token: KuCoin can also use the token you’re trading as the fee itself, removing the need for external fee payment. You can also use another token as a fee. For example, KuCoin can use the USDT/KCS token as a fee when you’re trading the BTC/USDT token.
However, keep in mind that the final amount of your trades can be affected because KuCoin can take the amount directly from your traded tokens.
You might think that only the highest-level traders might avail of the low fees that KuCoin is boasting about. Luckily, even at the base rate, KuCoin still has one of the lowest trading fees around, at only a 0.1% fee for every transaction.
There’s a 24-hour withdrawal limit, with amount limits also varying depending on the level.
This might seem complicated, but KuCoin’s fee structure is pretty reliable and transparent, so customers can easily understand how much their fee will be in every transaction.
In this section, we will list some examples of the actual fees that customers can enjoy based on their level.
This level includes all accounts without any KCS or a 30-day average trading volume less than the equivalent of 50 BTC.
The regular maker/taker charges 0.1% on each transaction when Spot Trading.
However, with KCS Pay Fee enabled, these fees will be lowered to 0.08% of the transaction because of the 20% discount.
Traders in levels 1-4 will have an amount limit of 200 BTC.
This includes accounts with 40,000 KCS holdings or a 30-day average trading volume equivalent to 4,000 BTC.
The regular fee in this level is only 0.07% for the taker fee. The maker fee is waived.
With the KCS Pay Fee feature enabled, this fee will further be driven down to 0.056%.
If you want to be at the highest level in the KuCoin fee structure, you must have a holding of 150,000 KCS or a 30-day average trading volume equivalent to 80,000 BTC.
At this level, the taker fee is at 0.025%, while the maker fee will be a negative rate of 0.005%.
With KCS Pay Fee enabled, the taker fee is further driven down to the platform’s lowest at 0.02%.
At this level, accounts have a daily withdrawal limit of 3,000 BTC.
Spot trading is the most-used feature on the platform. KuCoin charges only a “flat fee” of 0.1% for each spot trade, significantly lower than the industry average.
This flat base fee doesn’t matter even if the coins gain and lose value.
This incurs the same base fee of 0.1% as spot trading rates. However, you also need to remember that this type of trading charges interest rates. Keep that in mind before doing margin trading.
On the KuCoin platform, there are variable costs when financing futures contracts. This is because the loan rates for USD/USDT can swing from positive to negative and vice versa.
Because of this, the funding rate for futures contracts will also vary from 0.03% to 0%, with the latter being the base rate during normal market conditions. Nevertheless, these are still relatively low compared to industry averages.
You can take a look at the full list of fees when futures trading in KuCoin for more details.
Deposit and Withdrawal Fees
KuCoin doesn’t charge deposit fees, but it does have set withdrawal fees that depend on the crypto token’s market situations, although GAS and NEO are both free. Nevertheless, its withdrawal fees remain to be one of the lowest in the market.
Since withdrawal fees are primarily connected to the network’s transaction fees itself, you will find that KuCoin’s withdrawal fees are similar to those of other popular exchanges, such as Binance.
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Understanding KuCoin Fees: Final Thoughts
KuCoin is an affordable and accessible cryptocurrency exchange that anyone can use to trade. If you’re planning to start your cryptocurrency journey or want to have more effective trades, KuCoin’s low trading fees should put this exchange at the top of your list.
Frequently Asked Questions (FAQ)
What are KuCoin fees?
KuCoin fees are charges associated with trading and using the KuCoin cryptocurrency exchange platform. These fees can include trading fees, withdrawal fees, and other charges depending on the specific services you use on the platform.
What are trading fees on KuCoin?
Trading fees on KuCoin are fees you pay when buying or selling cryptocurrencies on the exchange. The trading fee structure can vary depending on your trading volume and whether you use the KuCoin Shares (KCS) token to pay fees, which can provide discounts.
How are KuCoin trading fees calculated?
KuCoin’s trading fees are typically calculated as a percentage of the total trading volume. The exact fee percentage depends on your 30-day trading volume and whether you hold and use KCS tokens to pay fees.
Can I reduce my trading fees on KuCoin?
Yes, you can reduce your trading fees on KuCoin by holding and using KuCoin Shares (KCS) to pay fees. KCS holders may receive trading fee discounts as well as other benefits on the platform.
Are there fees for depositing or withdrawing cryptocurrencies on KuCoin?
KuCoin may charge withdrawal fees for transferring cryptocurrencies from your KuCoin account to an external wallet or another exchange. The withdrawal fee varies depending on the specific cryptocurrency you’re withdrawing.
Does KuCoin charge fees for staking or lending?
KuCoin offers various services like staking and lending, and these services may have associated fees or revenue-sharing arrangements. It’s essential to check KuCoin’s official website or platform for specific details on fees related to these services.
Are there fees for using KuCoin’s API?
KuCoin may charge fees for using their API (Application Programming Interface) services, depending on the specific API endpoints and usage. API fee structures can vary, so it’s advisable to review KuCoin’s API documentation for details.
How can I find the most up-to-date information on KuCoin fees?
KuCoin’s fee structure and policies may change over time. To get the most current information on fees, visit the official KuCoin website, navigate to the “Fees” or “Pricing” section, or consult their customer support resources.
Can I see my fee history on KuCoin?
Yes, you can typically view your fee history and transaction details, including fees paid, within your KuCoin account. Access this information through your account settings or transaction history on the platform.
Are there any hidden fees on KuCoin?
KuCoin is generally transparent about its fee structure. However, it’s essential to review the platform’s fee schedule, terms of service, and any notifications or updates to ensure you’re aware of all applicable fees.