Kuna Exchange is a centralized cryptocurrency exchange based in Ukraine. The platform is run by Kuna Fintech Limited, registered and operating under the laws of England and Wales, №11834168. To verify that, the exchange even provides a scanned copy of the Certificate of Incorporation on its website. Kuna Exchange is headquartered in Kyiv, Ukraine (address: Verkhnii Val Street, 10, Kyiv, 04071) and has an office in London (address: 7 Bell Yard, London WC2A 2JR).
Kuna Exchange was launched in 2016 by Michael Chobanian. He is known as a serial entrepreneur, having also launched companies like Inlight Consulting and Silenica Digital. Chobanian has substantial managerial experience, having been the CEO of Vulkanit and ITC. He had also founded the Bitcoin Foundation in Ukraine and, at the time of this writing, is the current president of the local Blockchain Association. Chobanian has a very solid academic background, including institutions like the London Business School, the Columbia Business School, and the University of Hong Kong. However, at the time of this writing, he isn’t the CEO of the exchange. The business is run by Simon Kaploushenko.
It is worth noting that the team behind the project has succeeded in the process of building credibility by providing extensive information and а very detailed website. Aside from the corporate information, the platform offers plenty of resources aimed at teaching users how to navigate it or educate them about the world of cryptocurrencies. It also features a roadmap page where clients can get familiar with the Kuna team’s plans for the development of the platform. The FAQ section features in-depth articles and guides, while those who need additional assistance can get in touch with customer support via a variety of channels, including email, Telegram, and Messenger. The team claims to have 24/7 customer support that can “answer within 30 seconds” and adds that real humans, not bots, handle all communication.
Regarding users’ personal data handling process, the exchange points out that they are compliant with GDPR and KYC procedures. To ensure the protection of sensitive personal information, the Kuna Exchange team has hired a Data Protection Officer. The platform is also under the guidance of the UK Information Commissioner’s Office.
The exchange also has its own token, named KUN. The KUN token has been released on the WAVES blockchain platform through a KUNA Exchange Crowdsale campaign. It is designed with a finite amount of 1 million tokens, 30% of which are in circulation, while the rest 70% is stored in cold wallets. KUN holders can use the token to pay for the platform’s PRO-account mode which includes increased limits (Kuna’s team recommends choosing the PRO account if the value of the user’s trades is more than $800 per day), zero commission for maker-deals (0% compared to a standard rate of 0.25%) and reduced commission on taker-orders (0.125% compared to a standard rate of 0.25%). Premium accounts paid for with KUN tokens can also benefit from an additional dedicated strategic communication contact with a personal technical support operator.
Aside from that, in 2018, Kuna partnered with Binance to bring the Binance Coin (BNB) to Russian and Ukrainian customers. That way, clients from the respective markets can trade BNB against the Russian Ruble and Ukrainian Hryvnia.
The platform offers several interesting features that many of its competitors lack. For example, individuals who aren’t even Kuna’s clients can take advantage of its Fast Buy functionality that allows purchasing BTC and ETH directly with a debit or credit card, without having to set up an account (the fees are quite high though). Kuna has also developed a Chrome extension called Kuna Ticker that makes it easier for users to track the price of their preferred cryptocurrencies from their browser.
Kuna Exchange also offers a referral program that allows clients to earn up to 75% commission on all of their referrals. The exchange’s team tries to motivate the participants in the referral program by pointing out that “the higher the trading volume, the higher the profit” they will gain is.
According to Kuna’s information, at the time of this writing, the exchange serves more than 100 000 clients. The security measures it claims to provide are limited to two-factor authentication and email confirmation. In addition to the fact that the exchange claims to keep all funds in cold wallets, it claims to maintain money reserves that can cover 100% of the users’ deposits, in a bid to avoid insolvency problems. It also has a reward program for programmers who detect platform vulnerabilities and report them to the team.
Regarding Kuna’s reputation, it is safe to say that the exchange has managed to earn the trust of the online community. At the time of this writing, its Trustpilot profile has a very high score, while Reddit and Bitcointalk don’t have any threads with user complains or negative reviews.
At the time of this writing, there are no reported cases of security breaches or hacker attacks targeted at the Kuna Exchange. The platform has no history of governmental investigations as well.