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Last Updated Oct 25, 2022  |  Affiliate Disclosure

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KuCoin is one of the world's largest cryptocurrency exchanges that still doesn't require KYC. It's also a popular Binance alternative. But is it any good for Canadians?

Here at RankFi, we've reviewed 20+ Canadian crypto exchanges and brokers. This post covers everything you need to know about KuCoin such as fees, features, regulatory status, and most importantly... is it worth it? So, let's jump in. 

The Bottom Line

KuCoin is one of the best altcoin exchanges for Canadians. It has 700+ coins, competitive fees, and you can deposit and withdraw crypto without KYC. On the downside, it's not a good fiat on/off ramp for Canadians so you'll still need a local Canadian platform.

Furthermore, KuCoin is not as big as Binance, but it's available in Ontario since you can trade on it anonymously. And it has billions in trading volume so the fees are still competitive. Our tests showed the BTC spread was 0.00% (tied for 1st place) and the trading fee was only 0.10%.

The cheapest way to use KuCoin is to fund and cash out of your account with crypto. The best choices to use are local Canadian exchanges like Newton, NDAX, and VirgoCX.

Pros & Cons

  • Best Altcoin Exchange - Trade 700+ cryptocurrencies. A lot more than any Canadian-based platform
  • No KYC Required - Deposit and withdraw up to 1 BTC per day with just an email address (even if you're Ontario)
  • Fast Account Opening - Open and fund your account in 2 minutes since all you need is an email address or phone number
  • Low Fees and Spreads -  One of the cheapest platforms in the world (hidden fees included). High liquidity, 0,10% trading fees, plus discounts available
  • Endless Features -  Spot trading, derivatives, trading bots, lending, borrowing, and a lot more
  • Best Binance Alternative -  Very similar to Binance. Same UX, lots of coins, low spreads, BUT it works in Ontario!
  • Not Beginner Friendly - Can be overwhelming for novice investors
  • Not A Good Fiat On/Off Ramp - No CAD trading pairs or cheap deposit methods. You'll want to have a local Canadian exchange to fund and cash out
  • Unregistered and Unregulated in Canada - It's a considered a safe platform but use at your own risk


Total Fees & Spreads: Mar 02, 2022

Coins Offered


Total BTC Purchase Fee

2.82% (13th place)

Total BTC Selling Fee

N/A (can't cash out CAD)

BTC Spread

0.00% (🏆 Tied for 1st place)

Trading Fee

0.10% (plus discounts available)

Funding Methods

Credit Card & P2P Exchange which has e-Transfer + PayPal

CAD Deposits

3.00% Fee

CAD Withdrawals

Free (P2P Exchange Only)

BTC Withdrawal Fee

0.0005 BTC

Notable Features

- 700+ altcoins

- Top 10 exchange in the world by trading volume

- Low fees & spreads

- Advanced trading

Don't want to read? Watch my video review published on Jan 21, 2022. Some info in the video could be outdated so refer to the rest of the post as well.

🇨🇦 First Off, Does KuCoin Work In Canada?

Yes, KuCoin is technically available in Canada and Ontario despite the OSC's efforts to ban them. KuCoin is operating as an unregistered cryptocurrency exchange and is not in compliance with Ontario's Securities Law. Since it's anonymous (only requires email or phone number), anyone around the world can sign up for KuCoin. Canadians can deposit, trade, and withdraw up to 1 BTC per day with just an email. It's one of the world's largest crypto exchanges without KYC.

Kucoin Exchange

What Is KuCoin?

KuCoin is a centralized cryptocurrency exchange with over 10 million users in 200+ countries. They were founded in 2017 and currently rank as a top 10 crypto exchange in the world by trading volume.

They brand themselves as "The People's Exchange." On the platform you'll find lots of features like 700+ coins, their own utility token called KuCoin Token (KCS), spot trading, derivatives, interest accounts, loans, lottery raffles, and much more. 

It's one of the largest exchanges in the world that still does not have mandatory KYC. Users can sign up with just an email address and deposit, trade, and withdraw up to 1 BTC per day.

More Info

  • Founded in 2017
  • Top 10 crypto exchange in the world based on trading volume
  • Over 10 million registered users
  • $480 billion in total transaction volume on the platform
  • Available in 200+ countries

KuCoin's Best Features

KuCoin has a lot to offer but its key features include 700+ coins, low fees (hidden fees included), optional KYC, and advanced trading. You'll also find other things like trading bots, interest accounts, staking, derivatives, and the list goes on. Some features require KYC verification (like their token launchpad), but most of the platform is available without it. 

Here's Everything You Can Do On KuCoin:

  • Trade 700+ Cryptocurrencies
  • Spot Trading
  • Margin Trading
  • Futures Contracts
  • Lending & Borrowing
  • Pool-X (Earn and Staking)
  • Trading Bots
  • PoW Mining Pools
  • Affiliate Program
  • KCS (utility token)
  • Spotlight (token launch platform)
  • KuCoin Win (lotteries, battles, etc)
  • And more

1. iOS, Android and Web App

KuCoin Mobile App

KuCoin has lots of features and the platform can be accessed on all of your devices. There's a good user-interface which is similar to Binance however, beginners might be overwhelmed with all of the tabs and features.

2. Buying and Selling

KuCoin offers 700+ cryptocurrencies and multiple ways to buy and trade. On the platform you'll find:

  • Spot Trading
  • Margin Trading
  • Futures Contracts
  • Trading Bots
  • P2P Trading
  • Credit/Debit Card Buys

3. Trading Interface

KuCoin Advanced TradeKuCoin Trading View

For advanced traders, you'll find technical charts and tools provided by TradingView as well as multiple order types like limit orders, market orders, stop-limit and more.

4. Trading Bot

KuCoin Trading Bot

The KuCoin Trading Bot is a free tool that uses AI to help you automatically trade the market. According to KuCoin, it helps you "earn profits without monitoring the market." There are 4 different trading and investing strategies available:

  • Spot Grid - The bot will place buy and sell orders multiple times in order to profit from volatility and market fluctuations
  • Smart Rebalance - Automatically rebalance your portfolio based on your targets
  • Futures Grid - This bot is similar to the Spot Grid above, but more advanced
  • Dollar Cost Averaging (DCA) - Profit from making regular, periodic investments into the market

5. Pool-X (Earning & Staking)

KuCoin Earn and Staking

KuCoin's Pool-X lets you earn interest for simply holding different crypto assets. There's a variety of ways to earn which include Staking, Flexible Terms (withdraw anytime), Fixed Terms and Promotions. Dozens of coins are eligible to earn you yield and the APR can range anywhere from 1%-70% depending on the crypto asset and your risk tolerance.

Other crypto exchanges that offer rewards and staking include NDAX, BinanceKraken and Crypto.com. You can check them out to compare promotions and find the highest offers available.

6. KuCoin Spotlight

KuCoin Splotlight Token Launch Platform

Spotlight is KuCoin's token launch platform. This is a higher-risk investment for people who want to find very early projects to invest in. In a quote from Kucoin, "Spotlight aims to assist blockchain projects in raising the needed funds, attracting market attention and improving industrial influence."

Every launch will be live for a fixed amount of time and offered on first-come, first-serve basis. Only KYC verified accounts are able to participate.

7. Lending & Borrowing

KuCoin Lending and Borrowing

KuCoin Lend lets you earn daily interest by lending out your crypto assets. There are various yields, terms and risks to be aware of. You can also borrow crypto with various interest rates.

8. KuCoin Bonus (KCS Bonus)

If you hold at least 6 KCS in your KuCoin account you can earn a daily bonus up to 50% APR. The reward comes from the trading fees KuCoin earns on the platform. Right now, KuCoin keeps 50% of the trading fees and puts the other 50% into the Bonus pool for token holders.

9. Mining Pool

KuCoin Mining Pool

KuCoin's Mining Pool is another way to potentially earn yield on your investments. It supports Proof of Work (PoW) assets like Bitcoin and Bitcoin Cash with a 2% mining fee.

Other Features

  • LuckyRaffling (Lottery Game)
  • Futures Brawl - "go long or short to battle and win prizes"
  • Bug bounty program
  • Light mode/dark mode
  • Set custom price alerts
  • Affiliate program

Fees & Spread

According to CoinMarketCap, KuCoin is a top 10 exchange in the world by trading volume so they have some of the lowest spreads in the industry. When testing it myself, KuCoin had a 0.00% spread for Bitcoin which was tied for 1st place with Binance. The trading fees are 0.10% with discounts available. If you deposit crypto to fund your account, KuCoin is one of the cheapest platforms in Canada to trade altcoins.

However, it's not a good fiat on/off ramp in Canada. It does not have a CAD fiat wallet or CAD trading pairs. You can make an instant purchase with a credit card but that will be subject to a 3.00% fee or higher. The best way to use KuCoin is to fund with crypto so you can take advantage of its low fees and cash out the same way. To do that, you'll need a local Canadian exchange like Newton or VirgoCX.

KuCoin Fees


*Total BTC Purchase Fee

2.82% (13th place)

*Total BTC Selling Fee

N/A (can't cash out CAD unless with P2P Exchange)

Trading Fee

0.10% (plus discounts available)

CAD Deposits

3.00% fee (credit card)

CAD Withdrawals

Free (P2P Exchange Only)

BTC Withdrawals

0.0005 BTC

Other Fees

More Information

We tested 18 Canadian cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.

  • Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Reference Price Difference
  • Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Reference Price Difference

You can compare all platforms from the price test on this page

Trading Fee Discounts

KuCoin Trading Fee Structure

Price Test & Spread

Price Test (On Mar 2, 2022)


BTC Spread

0.00% (Tied for 1st place)

BTC Buy Price


BTC Sell Price


Ref. Price Difference

Buy: -0.28%

Sell: -0.28%

Reference Price (Google)


Deposit & Withdrawals

Like mentioned above, KuCoin does not have a CAD wallet or CAD trading pairs. If you want to buy with fiat anyways, which will be expensive, it will require KYC verification which you might be denied for if you're Canadian. It's best to fund and cash out with crypto. This way, you can still take advantage of 700+ altcoins at very low spreads and trading fees.

CAD Purchases




Limits (24 hours)

Credit / Debit Card



Min $50 - Max $7,000

P2P Exchange

(E-Transfer, PayPal)


Varies on seller (usually under 24 hours)

Varies on seller

CAD Withdrawals




Limits (24 hours)

P2P Exchange

(E-Transfer, PayPal)


Varies on seller (usually under 24 hours

Varies on seller

Crypto Withdrawal Fees



Minimum Withdrawal


0.0005 BTC

0.0008 BTC


0.00625 ETH

0.01 ETH





0.02 XLM

10 XLM


KuCoin is considered a trustworthy platform. They have 10+ million users in 200+ countries and multiple security features like 2FA, trading passwords and more. They also refunded all users from the $285 million hack in 2020.

⚠️ Try to hold as little possible on centralized exchanges. 44% of platforms we reviewed have had hacks or incidents. We strongly recommend storing and protecting your crypto on a wallet where you own the private keys, ideally a hardware wallet.

What About The KuCoin Hack?

Unfortunately, KuCoin was hacked in 2020 for $285 million via some of their hot wallets. Luckily, no customers were actually affected or lost any crypto. That's because KuCoin was able to recover 84% of the funds and their insurance fund paid back the other 16%.

After the hack, KuCoin's CEO said they made improvements to their security and platform architecture. However, this is a good reminder why it's not recommended to hold large amounts of crypto on centralized exchanges.

Company Security Features

There is limited info online about KuCoin's company security features. We're not sure how they store users funds but here is what we do know:

User Security Features

  • 2FA (via SMS or Google Authenticator app)
  • Biometric login (eg. Touch ID / Face ID)
  • Trading password for withdrawals, trades, etc
  • View your login history (IP address, device, time, etc)
  • Restrict Login IP feature
  • Email safety phrase to help identify legitimate KuCoin emails
  • Login safety phrase
  • Withdrawal safety phrase

Customer Support

We have not tested KuCoin's customer support but they offer a chatbot to help you answer questions which can be accessed in multiple languages 24/7. You also have the option to submit a ticket directly. If you don't need to speak with their team, you'll find a help desk with FAQs, articles and a community forum for additional information.

KuCoin Customer Support

Best Alternatives

Here are the best crypto exchanges for Canadians right now. We assessed 18 platforms across 60 variables and 1080+ data points.  

  • 2022 Winner: Best Overall
  • Low fees, 70+ coins, great user interface
  • No advanced features, limited features overall
  • Low all-around fees
  • Free crypto withdrawals for many coins
  • Beginner + Advanced Features
  • User interface can be better
  • Lowest overall fees for Canadians (0.49% total BTC purchase fee)
  • Beginner + Advanced features + Staking
  • Only 30+ coins
  • Slightly higher withdrawal fees
  • Lowest spreads and fees if you fund your account with crypto
  • 600+ cryptocurrencies
  • Most features in the industry
  • Restricted in Ontario
  • Not beginner friendly
  • Low spreads and fees if you fund your account with crypto
  • 700+ cryptocurrencies
  • Trade anonymously (all you need is an email)
  • Not beginner friendly
Best Crypto Exchanges Canada

Find the best crypto exchanges in Canada with our free comparison tool


Is KuCoin Banned In Ontario?

Technically, KuCoin is banned in Ontario but it still works. You can deposit, trade and withdraw up to 1 BTC per day with just an email address (no KYC needed). There are no warnings in my account either.

Why Did The OSC Warn KuCoin?

KuCoin is not FINTRAC regulated or licensed in Ontario so the OSC told them to stop serving clients.

Can I Use KuCoin In Ontario?

Yes, users in Ontario can still trade and withdraw crypto on KuCoin. 

Can Ontario Users Withdraw Funds?

Yes. You can withdraw up to the value of 1 BTC every 24 hours. You can only withdraw crypto though, not fiat.

Does KuCoin Show Any Warnings For Ontario Users?

No. Other platforms like Binance and Gate.io show warnings that Ontario users are not allowed. KuCoin does not have any warnings.

Is KYC Required To Use KuCoin?

KYC is not required. You can sign up, trade, and withdraw crypto on KuCoin with just an email address or phone number. It's very easy to open an account.

What Are The Restrictions For Non-KYC Accounts?

You can not access certain features unless you verify your account. For example, you can't buy crypto with fiat or use the token launchpad. Some other features might be restricted as well. The important things like depositing, trading and withdrawing crypto still works and most other features are working as well like lending, KCS rewards, trading bots and more.

What's The Best Way To Fund KuCoin In Canada?

The cheapest and fastest option is to use Newton or VirgoCX because they have the lowest fees in Canada and free crypto withdrawals. You can deposit Canadian Dollars with e-transfer then I usually buy Stellar (XLM) and transfer it to KuCoin. I do Stellar because it's free to send and shows up nearly instantly, but you can do any cryptocurrency.


Alex Dabek

Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.