Welcome to this short article, where we will cover the commissions that KuCoin has, and we will see some more aspects in detail so that you have all the information.
The commissions found in KuCoin are as follows:
- Spot (Buy and Sell)
In the first case of Spot, we find 3 categories of cryptocurrencies: A, B and C. Where each cryptocurrency is in one of these 3 categories, and each category has a different commission. Being the highest commission with the LV0:
- A (0,1%/0,1%)
- B (0,2%/0,2%)
- C (0,3%/0,3%)
Below is an image of the spot commissions before explaining the most common questions in more detail.
As you can see there are different levels, but usually you will be at level 0 or 1, if you don’t move large volumes you don’t have a large amount of KCS, the platform token. But really what you can save on commissions is not much, so we will focus on level 0, which is where most of us are.
Here you will see in the case of class A 0.1%/0.1%. The first percentage refers to when you buy, and the second to when you sell the cryptocurrency. Or as it says the maker’s commission and the taker’s commission. Although as they are the same in all classes, there is not much confusion. To see it better, let’s take an example. We buy 1.000$ of BTC and then we sell the same amount.
The commission would be 1.000*0,001= 1$ when you buy and the same commission when you sell. In total $2 for buying and selling. As you can see, these are very small commissions, as the percentages are so small. Even if you buy or sell a large amount, you hardly notice these kinds of commissions.
Kucoin is in the standard range of commissions, where we see most platforms around 0.1-0.2%. So you will hardly find platforms with lower commissions.
The futures commission is even smaller, at 0.02% when buying and 0.06% when selling. It makes sense though, as by using leverage, we will be using more than our amount. Below you can see the commission at each level.
Finally, we have deposits and withdrawals. In the first case, there is no deposit fee. So let’s focus on withdrawals.
The commission on withdrawals is different for each cryptocurrency, and most of the time it depends on the cost of the network you use. This is why we see so much difference between some cryptocurrencies and others. Below you can see a list of some of them, but my recommendation is to go to withdrawl or withdrawals and select the cryptocurrency you want to withdraw. Below you can see the commission charged by the platform.
For example, in the case of USDT, we can see that depending on the network, the commission will be 0.10-25 USDT. This difference will depend on the network you use, for example in the Tron network, the commission is 1 USDT because it is very fast and economical, and in the Ethereum network it is 25 USDT, because it is a more expensive network to use. You will always see the fees and they will be charged on the token you want to withdraw, so keep this in mind if you need to withdraw a specific amount.
If you want to withdraw let’s say 100 USDT, and the commission is 1 USDT, you will always have to withdraw 101 USDT if you want to get the 100 USDT, because the commission is charged when you make the withdrawal. If you withdraw 100 USDT, you will see 99 USDT coming in. So it’s something to keep in mind.
I hope this has helped you to learn more about how commissions work and what they are in KuCoin. Remember, if you don’t have an account with Binance, you can create one just below.