Kuna Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

Kuna, the cryptocurrency exchange based in Ukraine, presents a mixed picture in terms of its reliability and offerings. It has been around since 2014, making it one of the more established platforms in the region. One of the strongest points of Kuna is its user-friendly interface and the support for the Ukrainian Hryvnia (UAH), which allows for direct crypto purchases, making it particularly convenient for local users. Additionally, Kuna offers decent security features and supports a variety of payment options, enhancing its accessibility.

However, there are significant limitations that might affect its appeal to a broader audience. The trading volume on Kuna is relatively low, which may lead to liquidity issues for traders. This limited trading activity could result in delays in order execution or in finding trading partners, which is a critical factor for day traders or those looking to execute large transactions. Moreover, the lack of support for major fiat currencies other than UAH restricts its usability for international traders. The platform does not offer advanced trading features such as margin trading or a diverse range of crypto assets, which might deter more experienced traders seeking sophisticated trading tools and a broader selection of coins.

Pros

Cons

3,7

Threenvest Score

Fees

0,25%

U.S Legal

With the confidence of Threenvest

Established Since 2016: Kuna has been in operation since 2016, which gives it a track record and stability that newer exchanges might lack. Over the years, it has built a reputation within the Ukrainian and Eastern European markets.

Positive User Feedback: Kuna has received positive testimonials from its user base, highlighting the efficiency of its customer support and the ease of use of its platform. This customer satisfaction is a strong indicator of the exchange’s reliability.

Security Measures: Kuna employs several security protocols, including two-factor authentication and a significant portion of assets held in cold storage. This helps to protect user funds from potential breaches .

Regulatory Compliance: While Kuna does not hold a financial license, it operates in compliance with local regulations in Ukraine. This adherence to regulatory standards enhances its credibility and trustworthiness in the market .

User-Friendly Platform: The exchange is designed to be accessible for both beginners and experienced traders. Its interface is straightforward, and it supports various payment methods, including Visa and Mastercard for UAH transactions.

Best Crypto Exchanges

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About Kuna

Why Choose Kuna?

User-Friendly Platform Kuna offers a straightforward and user-friendly platform that is accessible to both beginners and experienced traders. The interface is intuitive, making it easy to navigate and execute trades. This simplicity extends to the mobile app, which provides a seamless trading experience on the go.

Support for Ukrainian Hryvnia One of Kuna’s standout features is its support for the Ukrainian Hryvnia (UAH). This makes it an ideal choice for Ukrainian users who wish to trade cryptocurrencies directly with their local currency. This feature sets Kuna apart from many other exchanges that primarily support major international currencies.

Security Measures Kuna employs robust security measures, including two-factor authentication and cold storage for a significant portion of its assets. These measures help ensure the safety of user funds and enhance the overall trustworthiness of the platform.

Where it falls short

Limited Trading Volume One of the significant drawbacks of Kuna is its limited trading volume. This limitation can lead to lower liquidity, making it challenging for users to execute large trades without experiencing price slippage. Additionally, lower trading volumes can result in longer waiting times for order fulfillment, which is inconvenient for traders who require timely transactions. Improvement Suggestion: Kuna could improve its trading volume by expanding its market reach and listing more popular cryptocurrencies and trading pairs. This expansion could attract a broader user base and increase overall trading activity. Additionally, implementing marketing strategies to promote the exchange and offering incentives to new users could help boost trading volumes.

Lack of Major Fiat Currency Support Kuna primarily supports the Ukrainian Hryvnia (UAH) and lacks support for other major fiat currencies such as USD, EUR, and GBP. This limitation restricts its usability for international users who may prefer to trade in their local currencies, thereby reducing the exchange’s global appeal. Improvement Suggestion: To address this issue, Kuna should consider integrating support for multiple major fiat currencies. This could involve establishing partnerships with global payment providers to facilitate deposits and withdrawals in different currencies. Enhancing fiat currency support would make Kuna more accessible to a wider audience and improve its competitiveness in the international market .

Features	Explanation
Minimum Trade	Allows trading with small amounts. User-friendly for beginners.
Trading and Transaction Fees	Competitive fees at 0.25% for both makers and takers.
Number of Cryptocurrencies	Supports over 20 cryptocurrencies including Bitcoin, Ethereum, and Litecoin.
Crypto-to-Crypto Trading Pairs	Limited number of trading pairs compared to larger exchanges.
Website Transparency	Clear information on fees and trading terms, though limited educational resources.
Credit/Debit Card	Kuna does not offer an exchange card for in-store purchases.
Storage Offering	70% of assets are stored in cold storage, enhancing security.
Staking and Rewards	Does not offer staking programs or other passive income options.
Mobile App and Desktop	Offers a functional and user-friendly mobile app for trading on the go.
Customer Service	Multiple support channels available, but limited educational resources.
Deposit and Withdraw	Supports deposits and withdrawals in Ukrainian Hryvnia (UAH) and limited other methods.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert in cryptocurrency exchanges, I find Kuna to be a solid option, especially for users based in Ukraine. The platform is user-friendly and offers competitive fees, making it accessible for both beginners and experienced traders. However, the limited support for major fiat currencies and low trading volume might be a drawback for international users. Overall, if you are looking for a reliable exchange that supports Ukrainian Hryvnia and offers a secure trading environment, Kuna is worth considering.

Fees

Kuna has a straightforward and competitive fee structure. The exchange charges a flat trading fee of 0.25% for both makers and takers. This is in line with the industry average and provides a transparent fee model for users. Additionally, Kuna does not charge deposit fees, which makes it easier for users to add funds to their accounts without incurring extra costs. However, there are withdrawal fees that vary depending on the cryptocurrency. For instance, the withdrawal fee for Bitcoin is 0.0005 BTC, which is below the global industry average, making it relatively cost-effective for users withdrawing Bitcoin .

Pros

Cons

Product selection

Kuna Exchange offers a robust and user-friendly trading experience tailored to both novice and experienced cryptocurrency traders. The platform supports various major cryptocurrencies, providing a diverse range of trading options. Kuna’s interface is designed to be intuitive, making it easy for beginners to navigate and execute trades. Additionally, Kuna provides advanced trading features such as detailed market analysis and real-time price updates, which are beneficial for more experienced traders looking to capitalize on market movements. However, Kuna’s trading platform does have some limitations. The educational resources available on the platform are relatively sparse, which could be a drawback for new traders seeking to deepen their understanding of cryptocurrency trading. Furthermore, while Kuna offers a solid selection of major cryptocurrencies, the variety of altcoins available is somewhat limited compared to other platforms. Expanding educational content and increasing the variety of available cryptocurrencies could enhance Kuna’s appeal to a broader audience.

Pros

Cons

Read more about product selection in Kuna

Account opening

Opening an account with Kuna is straightforward and user-friendly, designed to accommodate both beginners and experienced users. The process starts with creating an account by providing basic personal information such as your name, email address, and phone number. After submitting this information, you’ll need to verify your identity by uploading a government-issued ID and proof of residence, such as a utility bill or bank statement. This verification process is necessary to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, ensuring the platform’s security and legitimacy. Once your documents are submitted, Kuna typically completes the verification within a short timeframe, allowing you to start trading promptly. After your account is verified, you can deposit funds through various methods, including bank transfers and cryptocurrency deposits. Kuna’s intuitive interface makes it easy to navigate and begin trading. The platform’s comprehensive support resources further enhance the account opening process, making it accessible even for those new to cryptocurrency trading.

Pros

Cons

Security

Kuna Exchange prioritizes the security of its users’ assets through a combination of advanced technological measures and regulatory compliance. The platform employs robust encryption protocols to ensure the safety of transactions and personal data. Additionally, Kuna implements two-factor authentication (2FA), adding an extra layer of security that helps prevent unauthorized access to user accounts. These measures are critical in maintaining user trust and protecting assets from potential cyber threats. Despite these strong security features, Kuna faces some limitations. The platform is not regulated by top-tier international financial authorities, which might be a concern for users seeking high levels of regulatory oversight. Moreover, while Kuna has a solid track record of security, continuous improvement and adaptation to emerging threats are essential to maintaining its reputation as a safe exchange. Ensuring transparent communication about security practices and potential risks can further enhance user confidence in the platform.

Pros

Cons

Customer service

Kuna’s customer service is designed to cater to both beginners and experienced traders, providing multiple channels for support, including email and social media platforms. The support team is known for its responsiveness and helpfulness, often addressing user queries promptly. This promptness is crucial for maintaining user trust and satisfaction, particularly in the fast-paced world of cryptocurrency trading. However, there are areas where Kuna’s customer service could improve. Some users have reported occasional delays in response times, particularly during peak trading periods. Additionally, the platform does not offer 24/7 customer support, which can be a drawback for international users who may require assistance outside of regular business hours. Enhancing the availability and speed of their customer service could significantly improve the overall user experience on Kuna.

Pros

Cons

Read more about customer service in Kuna

Is kuna Right for You?

Kuna compared to other crypto exchanges

Threenvest score

3,7

Fees

0,25%

US Legal

–

Security

High 4,6/5

On the exhange website

Threenvest score

4,8

Fees

0,10%/1,49%

US Legal

Security

High 4,9/5

Gemini

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

Main cryptocurrencies available

Main countries where you can open an account

FAQs

1. What cryptocurrencies can I trade on Kuna Exchange?

Kuna Exchange supports a variety of cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Tether (USDT). In total, the exchange offers around 30 different cryptocurrencies for trading.

2. Which countries can open an account on Kuna Exchange?

Kuna Exchange is available to users from 251 countries, including major markets such as the United Kingdom, Australia, Germany, and India. However, it does not serve users from the United States, Canada, and Japan due to regulatory restrictions.

3. How secure is my account on Kuna Exchange?

Kuna prioritizes user security by employing several robust measures. These include cold storage for the majority of funds, industry-standard encryption, and two-factor authentication (2FA) to protect user accounts.

4. Are there any fees associated with trading on Kuna Exchange?

Kuna charges relatively low fees for trading. The exact fee structure can vary, but users generally find the fees to be competitive compared to other exchanges. Detailed fee information is available on the Kuna website.

5. How can I contact customer support on Kuna Exchange?

Customer support is available through multiple channels, including email, live chat on the website, and social media platforms like Twitter and Telegram. The support team is known for being responsive and helpful.

6. What payment methods are supported for deposits and withdrawals?

Kuna supports deposits and withdrawals in both fiat currency (specifically the Ukrainian Hryvnia, UAH) and various cryptocurrencies. Users can deposit funds via bank transfer and other supported payment systems.

7. Is Kuna Exchange suitable for beginners?

Yes, Kuna is designed to be user-friendly and accessible for beginners. The platform’s intuitive interface, comprehensive Help Center, and responsive customer support make it a great choice for those new to cryptocurrency trading.

Final opinion on Kuna

Kuna Exchange presents itself as a robust platform for cryptocurrency trading, particularly well-suited for users in Ukraine due to its support for the Ukrainian Hryvnia (UAH). Its user-friendly interface and straightforward navigation make it accessible for beginners, while the incorporation of essential security measures like cold storage and two-factor authentication enhances user confidence in the platform. Kuna’s comprehensive customer support through email, live chat, and social media ensures that users can receive timely assistance, contributing to a positive trading experience. Furthermore, the exchange’s low trading fees and the availability of over 30 cryptocurrencies provide a competitive edge for those seeking cost-effective and diverse trading options.

However, Kuna does have some limitations compared to other exchanges. The lack of derivative products such as futures and options may deter more advanced traders looking for a broader range of trading instruments. Additionally, the exclusion of users from significant markets like the United States, Canada, and Japan due to regulatory restrictions might limit its global appeal. While Kuna excels in providing a secure and user-friendly platform for its target audience, these restrictions and the absence of advanced trading features highlight areas for potential improvement. Overall, Threenvest views Kuna as a reliable and efficient exchange for beginners and those focused on the Ukrainian market, with room to grow in terms of global reach and product offerings.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.