Is KuCoin scalping us??? ALL IS WELL - made a mistake :D

[Poink]

EDIT:

My BAD -  all is well.

I did not recall trading some with ETH.  It account for the discrepancy.  I actually just got charged 0.009% due to their promo for NEO and RPX.

=========================================

I've been monitoring my buy/sell trades at Blockpolio and noticed that my coin counts sometimes get out of whack compared to what is on KuCoin.  I got curious and went to my trade history, copied everything into an Excel worksheet and did a quick buy/sell summary for RPX (both BTC and NEO trades).

When I finished, I looked at my current RPX balance vs the buy and sell difference and I am missing 2.5%!!!    Since I traded in hundred thousand coins... 2.5% is substantial (almost 9,000 RPX).

I am not 100% sure why there is this difference yet but I am thinking they are charging 2.5% instead of the 0.1% advertised.  Trades are supposed to be cheaper for RPX too so I can't figure this out.

Can you good folks do the same and check your buy/sell at KuCoin?

Let us help each other and find if there is indeed and error in their fee calculation.

If anyone know any other explanation for this difference, I'd love to hear it.


Thank you.

[dlagwagon]

Thanks for this post. I have not used my kucoin account yet, but I'm glad you shared this discrepancy with us. I'll keep a close eye on this post and hope that all is on the up and up with kucoin.

[cl0ckw0rk]

Thanks for bringing this up. I just made a Kucoin account, but now I wanna learn more about this before I use their exchange 

[natasha-lev]

I've been monitoring my buy/sell trades at Blockpolio and noticed that my coin counts sometimes get out of whack compared to what is on KuCoin.  I got curious and went to my trade history, copied everything into an Excel worksheet and did a quick buy/sell summary for RPX (both BTC and NEO trades).

When I finished, I looked at my current RPX balance vs the buy and sell difference and I am missing 2.5%!!!    Since I traded in hundred thousand coins... 2.5% is substantial (almost 9,000 RPX).

I am not 100% sure why there is this difference yet but I am thinking they are charging 2.5% instead of the 0.1% advertised.  Trades are supposed to be cheaper for RPX too so I can't figure this out.

Can you good folks do the same and check your buy/sell at KuCoin?

Let us help each other and find if there is indeed and error in their fee calculation.

If anyone know any other explanation for this difference, I'd love to hear it.


Thank you.

Are you sure with your calculations? Did you enter all points and coversion rates correctly?
Kucoin looks very good exchange that will compete with binance soon. it's a big surprise if you are right. You should also ask support from Kucoin to explain your issue. Please keep us updated with your situation cause we sometimes do not control the fees and purely trust. 2.5% is a lot and unacceptable comparing to other exchanges.

[Gintama214]

I'm actually thinking of using KuCoin to buy/sell coins but as you said maybe KuCoin is stealing some of your coins or maybe your calculations are off by 2.5% I want to know if they are true or not but we need people to see your post so we need to pump this post.  We need to know the truth so that not all of us are getting scammed with the fees. I hope that you just did a minor mistake in your calculations because many people are starting to use KuCoin especially people who are new in cryptocurrency. For me, I would not continue to make an account but i'll be watching out if this is true or not.

[yinyangwinwang]

I am gonna backtrack and check too now because I trade quite a bit there and was looking to make it one of my biggest exchanges in the near future here. For those who haven't signed up yet I would say do so and check with a small small amount of coins if they are lying or not.

[JavaLove]

I've been monitoring my buy/sell trades at Blockpolio and noticed that my coin counts sometimes get out of whack compared to what is on KuCoin.  I got curious and went to my trade history, copied everything into an Excel worksheet and did a quick buy/sell summary for RPX (both BTC and NEO trades).

When I finished, I looked at my current RPX balance vs the buy and sell difference and I am missing 2.5%!!!    Since I traded in hundred thousand coins... 2.5% is substantial (almost 9,000 RPX).

I am not 100% sure why there is this difference yet but I am thinking they are charging 2.5% instead of the 0.1% advertised.  Trades are supposed to be cheaper for RPX too so I can't figure this out.

Can you good folks do the same and check your buy/sell at KuCoin?

Let us help each other and find if there is indeed and error in their fee calculation.

If anyone know any other explanation for this difference, I'd love to hear it.


Thank you.

I will check my trade history and will write you again. 2.5% is huge.

I've notice some more stranger there. For example, If I buy 1000 XRP, I'm getting in my account 999. Do they take the 0.1% fee in coins instead of adding it to the order price?!

[Alns]

So you lost 9 raiblocks? Can you explain it a little bit more? I do not understand if you are saying that you lost 9k or just 9 of them, please clarify this.
I have been using KuCoin for more than two weeks, and it works pretty good, and most of the coins that are listed in there are having a very good volume, most of them are increasing by more than 15% a day, that is huge.
But i was not aware of this, in fact, i was looking to keep using it for a while, but now i am a little bit scared because of the issue that you are having out there. Please, explain it a little bit better.

[Poink]

I will check my trade history and will write you again. 2.5% is huge.

I've notice some more stranger there. For example, If I buy 1000 XRP, I'm getting in my account 999. Do they take the 0.1% fee in coins instead of adding it to the order price?!

They take out the fee (0.1 %) from your coin.  That is how it should be.

[Poink]

So you lost 9 raiblocks? Can you explain it a little bit more? I do not understand if you are saying that you lost 9k or just 9 of them, please clarify this.
I have been using KuCoin for more than two weeks, and it works pretty good, and most of the coins that are listed in there are having a very good volume, most of them are increasing by more than 15% a day, that is huge.
But i was not aware of this, in fact, i was looking to keep using it for a while, but now i am a little bit scared because of the issue that you are having out there. Please, explain it a little bit better.

As I mentioned, I am missing almost 9,000 RPX that I cannot account for.

[Poink]

Are you sure with your calculations? Did you enter all points and coversion rates correctly?
Kucoin looks very good exchange that will compete with binance soon. it's a big surprise if you are right. You should also ask support from Kucoin to explain your issue. Please keep us updated with your situation cause we sometimes do not control the fees and purely trust. 2.5% is a lot and unacceptable comparing to other exchanges.

I just copy pasted the entries from KuCoin...no convertion, just the RPX buy/sell column.
Total buy less total sell should be my remaining coins and there is almost 9,000 RPX difference between the expected and what is in my wallet.  When I calculated the 9,000/(total sell + total buy) ... it is exactly 2.5%

[drm]

Interested in seeing observations from others. If true, a very lucrative business for kucoin, certainly nice pocketmoney.

[shaun98]

Thanks for the post, I use Kucoin and will keep an eye on their fees. Have you tried recalculating to ensure there are no errors in your calculations?

[Poink]

Thanks for the post, I use Kucoin and will keep an eye on their fees. Have you tried recalculating to ensure there are no errors in your calculations?

I double (and triple) checked before I posted it here but I will do it again today.

- I copied everything from their site/exchange to an excel file
- Copied the RPX buy/sell column to 2 columns (one is sell column, the other is a buy column) at the right so original is kept
- Hi-lited all the buy rows ( so I can easily distinguish them)
- Deleted/zeroed all sell cells from the buy column
- Deleted/zeroed all buy cells from the sell column
- Placed a sum formula from top to bottom on both
- Calculated the difference

I can't see any place where I can do a mistake other than not copying the entire thing from the site.  It can happen since it is on multiple pages but I also checked that.

[qazgroup]

I do not think kucoin is having any issues, if you think there is an issue specific to your account you should contact support, secondly if you do not like trading fee i will suggest to trade at Cobinhood exchange that is the only zero fee exchange online, it will list many coins on 12th january.

[Poink]

I do not think kucoin is having any issues, if you think there is an issue specific to your account you should contact support, secondly if you do not like trading fee i will suggest to trade at Cobinhood exchange that is the only zero fee exchange online, it will list many coins on 12th january.

I have no problem paying the advertised fees.   If I am correct though, they are charging 25x --that I cannot accept. 

I still (honestly) hope I am mistaken and I just made a mistake somewhere.

[Poink]

All is well, I missed the ETH trading portion.  Only did the BTC and NEO trades.

The charges actually came up to 0.009% which is impressively low due to their early no trading fees for NEO/RPX.

Sorry for the inconvenience and I apologize to KuCoin.