Kucoin: Open For Us Investors?

KuCoin is a cryptocurrency exchange that offers third-party brokerage services. It supports over 200 coins and about 450 cryptocurrency pairs. It is not regulated by a national licensing body, which means that users can trade cryptocurrencies without supplying any ID. However, this is not the case if users wish to buy digital coins with a debit or credit card through Simplex, KuCoin's European payment provider partner. In this case, users will need to upload a copy of their government-issued ID.

KuCoin has been subject to at least one major hack, in which $150 million in cryptocurrency was stolen. However, the platform has a commitment to robust security protocols and various safety measures, and it has a dedicated security team.

KuCoin does not currently operate in the US or US territories such as Puerto Rico, Guam, the Northern Mariana Islands, and American Samoa.

How to sign up for KuCoin from the US

Signing up for KuCoin from the US is a relatively straightforward process, but there are a few things to keep in mind. Here is a step-by-step guide:

Step 1: Get a VPN

Firstly, you will need to sign up for a Virtual Private Network (VPN) service. A VPN will allow you to change your IP address to one from a country where KuCoin has a full license, granting you access to all the platform's features. Recommended VPNs for this purpose include ExpressVPN, NordVPN, and CyberGhost.

Step 2: Sign Up for a KuCoin Account

Once you have your VPN set up, connect to a server in a country where KuCoin is available (most European countries, Mexico, etc.). Then, go to the KuCoin website and click the "Sign Up" button. Enter your email address or phone number and create a password. KuCoin will send you a verification code, which you can then input to complete the sign-up process.

Step 3: Confirm Your Account

Check your email or phone for the activation code and enter it on the KuCoin website. If you can't find the code in your inbox, check your spam folder.

Step 4: Verify Your Account

To verify your account, you will need to complete the Know Your Customer (KYC) process. This usually involves providing proof of identity, such as a photo of your ID card, passport, or driver's license. Please note that US citizens cannot complete the KYC process, as the US is not one of the specified countries on KuCoin's KYC website.

Step 5: Set Up Two-Factor Authentication (2FA)

To increase the security of your account, it is recommended to set up 2FA. You can do this by installing a 2FA app, such as Google Authenticator, on your mobile device. Once you have the app, make a note of the secret key and activate the authenticator.

Step 6: Start Trading

Once you have completed the above steps, you are ready to start trading on KuCoin! You can now explore the platform, buy and sell cryptocurrencies, and take advantage of the various features offered by KuCoin.

It is important to note that while it is possible to create a KuCoin account from the US, there may be limitations on the services you can access due to the lack of licensure in the country. These limitations include restricted withdrawal limits, no access to deposit services, and limited customer support. Additionally, keep in mind that using a VPN to access KuCoin from the US may be against the platform's terms of use, so proceed with caution.

Why a VPN is necessary to use KuCoin in the US

KuCoin is a popular cryptocurrency trading platform available in over 200 countries worldwide. However, due to licensing issues, it is not supported in the US, and US-based users cannot access all the platform's features. While US residents can technically create an account, they cannot complete the Know Your Customer (KYC) verification process, which results in restrictions on their accounts. These include withdrawal limits, no access to deposit services, and limited customer support.

A Virtual Private Network (VPN) can help overcome these limitations by masking your IP address and tricking KuCoin into thinking you are logging in from a country where the platform is fully available, such as Germany or France. This will grant you access to all of KuCoin's features, including Soft Staking.

In addition to bypassing geo-restrictions, a VPN also provides enhanced security and data protection. It encrypts your data, making it anonymous and difficult for cybercriminals to hack. Premium VPNs offer additional security features such as a kill switch, ad blocker, malware detection tools, and data breach protection. This is particularly important on crypto trading platforms, as crypto traders are often targets of cybercriminal attacks, which can result in identity theft, cryptocurrency loss, or blackmail.

Therefore, if you are a US investor looking to use KuCoin, a VPN is necessary to access the platform's full capabilities and to ensure the security and protection of your data and cryptocurrency wallet.

Best VPNs for accessing KuCoin from the US

Although KuCoin is technically not available to US residents, a VPN can help you overcome these restrictions and let you access the platform securely. Here is a list of the best VPNs for accessing KuCoin from the US:

ExpressVPN

ExpressVPN is recommended by multiple sources due to its impressive speeds, robust security features, and large server network. It has obfuscated servers that mask your VPN traffic to overcome blocks, allowing you to trade on KuCoin without revealing your VPN use. Additionally, it offers a 30-day money-back guarantee, and you can pay with cryptocurrencies for added privacy.

CyberGhost

CyberGhost is highlighted for its NoSpy servers, which are operated exclusively by their staff, keeping your trading data private. It also offers strong security protocols and a strict no-logs policy. CyberGhost has a monthly plan with a 14-day refund policy and long-term subscriptions with an extended 45-day money-back guarantee.

Private Internet Access (PIA)

PIA stands out for its customizable security options, allowing you to balance speed with security for your KuCoin trades. It supports AES 128-bit and 256-bit encryption, as well as the OpenVPN and WireGuard protocols. PIA also offers a 30-day money-back guarantee on all plans.

NordVPN

NordVPN provides an extra layer of security with its Double VPN feature, which encrypts your traffic twice. It also offers Obfuscated servers that can be useful on restricted networks. NordVPN has a long-term plan with a 74% discount and a 30-day money-back guarantee.

Surfshark

Surfshark is a user-friendly and affordable option, ideal for beginners. It offers unlimited simultaneous connections and Camouflage mode (obfuscation), ensuring that even your internet provider can't see that you're using a VPN. Surfshark also has a 30-day money-back guarantee on all plans.

How to access KuCoin from the US with a VPN

KuCoin is a popular cryptocurrency trading platform available in over 200 countries. However, due to licensing issues, it is not supported in the US. While US residents can create an account, they will only have access to a limited version of the platform. This means they won't be able to complete the Know Your Customer (KYC) verification process, access deposit services, or withdraw more than 1 BTC per day.

The best way to access the full version of KuCoin in the US is by using a Virtual Private Network (VPN). A VPN will mask your IP address and trick the platform into thinking you're logging in from a country where the full version is available, such as Germany or France.

Here's a step-by-step guide on how to access KuCoin from the US with a VPN:

• Choose a VPN that works well with KuCoin and has servers in countries where the platform is available. Recommended options include ExpressVPN, NordVPN, CyberGhost VPN, Private Internet Access (PIA), and Surfshark.
• Download and install the VPN app on your device.
• Launch the VPN and connect to a server in a country where KuCoin is available, such as Germany, France, the UK, Canada, or Mexico.
• Register and create an account on KuCoin using your name, email address, and a password.
• Verify your account by checking your email or phone number for the activation code and entering it on the platform.
• Complete the KYC verification process by providing proof of identity, such as a photo of your ID card, passport, or driver's license.
• Set up two-factor authentication (2FA) for added security.
• Start trading on KuCoin!

It's important to note that while using a VPN to access KuCoin from the US may be technically possible, there may be risks involved. KuCoin's Terms of Use may not explicitly state that VPN use is illegal, but using a VPN could potentially put your account and funds at risk. Therefore, it's recommended to carefully read and comply with KuCoin's guidelines and local laws and regulations before proceeding.

KuCoin's limitations for US users

KuCoin is not licensed to operate in the US, and there are several limitations for US users. Firstly, US users cannot complete standard Know Your Customer (KYC) disclosures, which are meant to reduce crime and money laundering. As a result, US users on KuCoin are subject to withdrawal limits and do not have access to deposit services. They also cannot access the full capabilities of the platform and are restricted to a limited version of the exchange. This includes limitations on the amount of money available for withdrawal and trading each day.

Additionally, US users may face security risks as their accounts are not offered the same fraud and hacking protection as verified accounts in licensed countries. KuCoin's Terms of Use state that a registered user should not be "a resident of the United States", and while using a VPN to access the platform is not explicitly illegal, it does go against the Terms of Use, which could result in account suspension.

Frequently asked questions