KuCoin is a large offshore exchange known for listing smaller coins early. It was blocked in India in early 2024, paid a penalty and became the first offshore exchange to register with FIU-IND. Here is what using it from India involves.
Legal to use and strong on coin choice, with monthly proof of reserves above 100%. But rupees move only through peer-to-peer trades, the operator is based in Seychelles, and it pleaded guilty in the US in 2025 over weak anti-money-laundering controls. Use it only for coins Indian apps do not list.
KuCoin ranks #11 of 12 in our best crypto app in India ranking for 2026. Just above it is WazirX (7.0); just below is Unocoin (6.5). Every app is scored on the same seven tests (how we score).
| What we score | Weight | Score |
|---|---|---|
| Regulation and recourse | 15% | 5/10 |
| Security and transparency | 25% | 7/10 |
| Rupee deposits and withdrawals | 15% | 3/10 |
| Trading costs | 15% | 8/10 |
| Products and coin range | 10% | 8/10 |
| Liquidity and scale | 10% | 9/10 |
| Crypto withdrawals | 10% | 10/10 |
| Overall | 100% | 6.9/10 |
| Best for | Experienced traders looking for smaller altcoins |
|---|---|
| Founded / HQ | 2017 · Seychelles (Peken Global Limited) |
| FIU-IND registered | Yes, registered with FIU-IND in March 2024 after a ₹34.5 lakh penalty (order dated 22 March 2024) |
| INR deposits | P2P only: you pay another user by UPI, IMPS or bank transfer. No direct INR deposit. |
| Spot trading fee | 0.10% maker and taker on most large coins, 0.16% to 0.24% on smaller coins; 20% off when paying fees in KCS. Futures 0.02% maker / 0.06% taker. |
| Futures | Listed globally; availability for Indian accounts not confirmed, so check in the app |
| SIP / recurring | Yes, Recurring Buy (daily to monthly) |
| Coins listed | About 830 (CoinGecko) |
| Crypto withdrawals | Allowed to external wallets; per-coin network fee |
| 1% TDS deducted | Yes, 1% on sells and crypto-to-crypto trades since April 2024 (20% without PAN) |
| Security record | September 2020: over $280M taken from hot wallets; most was recovered and its insurance fund covered the rest. Monthly proof of reserves (BTC 107%, USDT 111% on 31 Aug 2026). |
| Official website | www.kucoin.com |
Yes. In December 2023 FIU-IND issued notices to nine offshore exchanges, KuCoin among them, for serving Indians without registering, and its apps were pulled from Indian app stores. On 22 March 2024 FIU-IND fined its operator, Peken Global Limited, ₹34.5 lakh, and KuCoin registered as a reporting entity, the first offshore exchange to do so. It was not among the 15 platforms FIU-IND flagged in September 2026. Registration covers anti-money-laundering duties only; it is not investor protection.
KuCoin does not take INR bank deposits. You use its P2P market, paying another user by UPI, IMPS or bank transfer in exchange for USDT held in escrow; KuCoin says it charges no fee on P2P trades. The risk is the same as on any P2P market: if the other person’s money is linked to fraud, your bank account can be frozen. Trade only with verified merchants and keep every record. Our guide to moving crypto between exchanges covers the cheaper route for most people: buy on an Indian app and transfer.
Spot fees are 0.10% for makers and takers on most large coins and 0.16% to 0.24% on smaller ones, with 20% off if you pay fees in KuCoin’s KCS token. Futures are listed at 0.02% maker and 0.06% taker, but check in the app whether futures are open to Indian accounts. Recurring Buy lets you buy daily, weekly or monthly.
In September 2020 hackers took over $280 million from KuCoin’s hot wallets. Most was recovered and its insurance fund covered the rest, so customers were made whole. KuCoin now publishes monthly proof of reserves; the 31 August 2026 report showed 107% for Bitcoin, 117% for Ether and 111% for USDT.
Its regulatory record is weaker. In January 2025 Peken pleaded guilty in the US to operating an unlicensed money transmitting business, paid about $297 million and agreed to leave the US market; a March 2026 CFTC order barred it from the US unless it registers. In September 2025 Canada’s FINTRAC fined it C$19.6 million, which KuCoin is appealing. These cases were about weak anti-money-laundering controls, not lost customer funds.
Indian rules apply wherever you trade: 30% on profits and 1% TDS on sales. Since April 2024 KuCoin deducts 1% TDS for Indian users on sells and crypto-to-crypto trades, and 20% if no PAN is linked. Download your statements each year; see crypto tax in India.
Experienced traders who want a coin that Indian exchanges do not list and who understand P2P. For buying Bitcoin or Ethereum with rupees, an Indian app such as CoinDCX is simpler and safer. Compare the other offshore option in our Binance review.
Yes. KuCoin registered with FIU-IND in March 2024 after paying a ₹34.5 lakh penalty for serving Indians without registration.
Only through KuCoin P2P, where you pay another user by UPI, IMPS or bank transfer in exchange for USDT. There is no direct INR bank deposit.
Yes. Since April 2024 it deducts 1% TDS for Indian users on sells and crypto-to-crypto trades, or 20% if no PAN is linked.
It publishes monthly proof of reserves above 100%, and customers were made whole after its 2020 hack. But it pleaded guilty in the US in 2025 over anti-money-laundering failures, and as an offshore firm it offers little recourse in India.
