Kuna – Is It Good?

Kuna is a popular South Eastern cryptocurrency that focuses on trading crypto against the Ukrainian currency. Until very recently, Ukrainian Hryvnia (UAH) was the only fiat currency supported on the website. Nowadays they added the US dollar as well so they’re appealing to a larger market. You can also trade digital coins. Kuna currently offers a decent 17 pairs for trade, supporting, among others Bitcoin, Ripple, Bitcoin Cash, EOS, Revain Octanos, Everus and Waves.

But how good is Kuna? Is Kuna trustworthy? Can anyone in the world use it? And, most importantly, how does it stack up against other platforms?

What does Kuna provide?

Kuna is a Kiev-based exchange established in 2016 currently focused on its Ukrainian users. The site is available in Russian, Ukrainian and English. They also accept US dollars, Russian rubles and Ukrainian currency. As part of their strategy to get adopted for as many users as possible, Kuna also offers a referral programme where you can get up to 75% commission from your referrals depending on their trade volume.

Its platform is very simplistic. It has very basic charting and an order book. Kuna doesn’t even store your history or give you any other advanced currency views.

It’s always impressive when an exchange has high reviews since most people only review something when they aren’t satisfied with it. That’s why Kuna proudly displays its 9.3 average review from Trustpilot. Their reviews are that high partially because of their 24/7 live customer support on Facebook Messenger and Telegram, although we didn’t find them to be particularly quick on either.

Since this exchange was barely founded in 2016, Kuna knows that it has a long way to gain people’s trust. That’s why, in an effort to be more transparent, Mike Chobanyan (Kuna’s founder) has his own YouTube channel where he communicates with users in his AMA videos. He even has his personal Facebook page listed so anyone can follow him. Finally, they are yet to encounter any security problems and they encourage their users to keep two-factor authentication enabled, and there’s even a reward program for detecting vulnerabilities in the platform.

For a smaller exchange we were pleasantly surprised when we found out Kuna has its own app. You can download it for your iPhone or Android to trade on the go.

Supported Countries

Up until recently Kuna was only available for Ukrainian and Russian users. However, on April 2019 they finally expanded to more countries, adding US dollars as a fiat alternative.

You can currently make purchases using any card issued by VISA / MasterCard, except cards issued in the USA, England, Germany and Japan.

Kuna Rates and Buying Limits

To get the best bang for your buck remember to always examine your platform’s fees. Kuna has a simple flat trading fee for both takers and makers:

Kuna fee: 0.25%

This is pretty much the industry average, so Kuna is right at the middle. They also waive the fee for their VIP users. Since Kuna is looking for investors, it launched its own token, the KUN. Any user who deposits at least 100 KUN become a VIP member. VIP members pay no maker fees and only a 0.125% taker fee.

Kuna also charges a fixed fee of 0.0005 BTC when withdrawing Bitcoin which is well below the industry average.

Kuna Pros

  • Credit card as payment: Kuna is one of the few exchanges that is currently accepting credit card payments, although at a larger fee.
  • High reviews: It’s rare to see an exchange with positive reviews, and even more rare to see an exchange with a review this high.
  • 24/7 live support: Great for whenever you have any doubt, day or night.
  • Simple registration process: You can start using Kuna without even passing verification, simply by choosing a username and password and activating your account through your email.

Kuna Cons

  • Not fully supported in the US: You can’t use your US issued credit or debit cards to purchase bitcoin on the website.
  • Low popularity: Kuna is still trying to get big, so it has experienced some growing pains with their audience.

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Is Kuna Good For Bitcoin?

Kuna is still growing, and it has only recently started to accept USD as a fiat option. Up until April 2019, Kuna was mostly for Ukrainians and Russians who wanted to trade in a simple way. Despite their efforts to become more transparent, friendly and profitable with users, including their generous affiliate reward system, Kuna is yet to find a large enough audience.

However, with their focus on technology and simplicity, we’re excited to see what’s in Kuna’s future. The team behind it is clearly very ambitious and it’s only a matter of time to see if all of their investments finally pay off.