Kucoin Accessibility: Navigating Supported, Restricted, and Banned Countries
Introduction to Kucoin
Kucoin, a prominent cryptocurrency exchange, boasts a diverse array of 700 cryptocurrencies and a substantial user base exceeding 20 million individuals. This breakdown explores the countries where Kucoin is accessible and those where restrictions or bans are in place. If you're uncertain about Kucoin's availability in your country, read on to gain clarity.
Kucoin Supported Countries
Established in 2017, Kucoin has evolved into a global cryptocurrency exchange, extending its services to over 200 countries worldwide. While the platform thrives in many regions, restrictions exist in countries like the United States.
Kucoin provides an extensive range of services, including spot, futures, and margin trading, coupled with competitive fees for both trading and withdrawals. Most European countries, such as Germany, France, Poland, Sweden, and the UK, along with numerous Latin American and Asian countries, fall under the umbrella of supported regions. This expansive geographic footprint has contributed to Kucoin's impressive user base, surpassing 20 million.
Kucoin Restricted Countries
Despite being a global exchange, Kucoin faces limitations due to diverse legal regulations, leading to restricted access in certain countries. As of now, residents or individuals from countries like the United States, Canada, Japan, China, South Korea, and Vietnam are restricted from using Kucoin.
For those in the United States seeking secure and FinCEN-regulated alternatives for investing in digital assets, platforms like eToro or Uphold are recommended. These user-friendly platforms enable quick and secure fund deposits for cryptocurrency investments, especially for users with accounts in banks like Chase, Citibank, Capital Bank, Wise, Affirm, Chime, and others.
Kucoin Banned Countries
In addition to basic country restrictions, certain countries are outright banned from using Kucoin, including OFAC countries such as Afghanistan, Iran, Iraq, North Korea, Syria, Yemen, and Cuba.
Kucoin KYC Requirements
Recently, Kucoin announced mandatory Know Your Customer (KYC) checks for users. Starting from July 15, 2023, new users must undergo KYC verification to access Kucoin's services. While existing users need to complete KYC to unlock specific features, they can still withdraw funds without it.
Kucoin Availability in Canada
As of the latest update, Kucoin is not available in North America, prohibiting countries like the United States and Canada from utilizing its services. Canadian residents are advised to consider platforms like Uphold, regulated by FINTRAC in Canada, offering access to a diverse range of over 300 cryptocurrencies.
Kucoin Regulatory Status
Kucoin, while not currently regulated by any financial authority, has obtained licenses in various jurisdictions, including Malta, Seychelles, and the Cayman Islands. These licenses permit Kucoin to operate in these regions and provide services to residents. However, it is crucial to note that Kucoin lacks regulation by financial authorities in the United States or Canada.