Kuna Exchange Review

Based in Ukraine, Kuna is one of the very few exchanges located in the country. Kuna is aiming to innovate the cryptocurrency trading world through its new system of “5 click trading”, which allows you to purchase cryptocurrencies in 5 simple steps, without creating an account. It is presumed that this technique only takes 30 seconds, and only requires the user to have a cryptocurrency wallet. For the time being, this service is limited to the purchase of Bitcoin, Ethereum and Tether. However, this list should be expected to extend in the future.

Kuna offers a flat trading fee, meaning it does not differentiate between makers and takers when charging them. Their flat fee is 0.25%, which is just in line with the global industry average. Once a user deposits at least 100 KUN, the platforms own ERC-20 token, they can acquire a VIP status within the platform. Those who have VIP status do not pay maker fees, which is an attractive feature. Though this means that the exchange is definitely not at a disadvantage, it should be kept in mind that many of the competitive cryptocurrencies charge fees averaging around 0.20%-0.10%. The withdrawal fee on the exchange is around 0.0005 BTC, which is below the industry average. Combined with the trading fee, Kuna offers features that are slightly competitive in the industry.

Fiat-crypto trading is available on this platform, making Kuna an entry-level exchange. Users can deposit fiat currencies into their accounts via credit cards, however, bank transfers are not allowed. This is unusual, as most cryptocurrency exchanges usually do the exact opposite. In order to deposit money, the users must have a Ukrainian credit card which shows that the exchange is mainly focused on Ukrainian users. Fiat currencies of USD and RUB are also accepted through certain platforms such as Advanced Cash, Perfect Money or KUNA Code. KUNA Code is the exchange’s own deposit method. The exchange also supports a referral program, where it is claimed that users can “receive up to 75% commission on all of [their] referrals” as their website suggests.

Kuna’s website features a simple and modern design that is very easy to navigate. The website only offers three languages: Russian, Ukrainian, and English. There is, however, a “service video-presentation” on the website which takes new users through the process of using the platform. This renders it quite user-friendly. Kuna.io also supports a mobile app which can be downloaded on the App Store or Google Play, for those who prefer to trade on the go.

Comments by Kuna users so far have been positive, and there hasn’t been any significant issue concerning Kuna’s security system. Information about the team behind the exchange is clearly mentioned on the website, and videos of the founder, Michael Chobanyan, discussing the exchange are featured as well. The exchange is big on transparency, which is good for those who are looking for maximum transparency. The exchange supports customer service mainly through e-mail. Information about a call-center is not featured on the website which could deter certain users.