How to Verify Your Funds With KuCoin Proof of Reserves
As the ‘People’s Exchange’, the safety and security of users’ funds is our top priority. As a result of that, we have committed significant efforts to provide you with not only the best platform for crypto trading and investing, but the safest one as well. KuCoin was among the first exchanges in the industry to release our cold and hot wallet addresses to allay any concerns our users may have about the safety of their funds.
Our Proof of Reserves (PoR) verification makes it easy for you to check that the assets in your KuCoin balances are backed by real assets.
In keeping with our commitment to building trust and transparency not only in KuCoin but also in the overall industry, we have created this guide to help you with verifying your balances on KuCoin in just a couple of clicks.
What Is Proof of Reserves (PoR)?
Proof of Reserves is public proof that crypto exchanges or custodians hold the customers' assets on a full 1-to-1 reserve basis on the platform.
KuCoin uses cryptographic proofs and public wallet address ownership verifications to show the public that its holdings match user deposits.
In essence, a Proof of Reserves assessment on KuCoin works by taking an anonymized snapshot of all customer balances and creating a Merkle Tree. From there, the examining user obtains a Merkle Root — a key that identifies all the balances at the time of snapshot creation. Any client can independently verify that their balance was included in the Proof of Reserves assessment by visiting our PoR page.
Verify Your Crypto Holdings on KuCoin
We are proud to announce that we conduct period Proof of Reserves checks. As of March 2024, all our user funds fully backed by real assets with a reserve ratio of 100% or over.
KuCoin Reserve Ratio
All our users can verify that the assets in their KuCoin balances are fully backed by real assets in just a couple of minutes. We also made sure to make the verification process as user-friendly as possible — no need to download or install any programs or packages, everything is simple and easy to use. Let’s get into explaining the process!
1. Navigate to the KuCoin Proof of Reserves Page
Once you are on the KuCoin homepage, navigate to the Proof of Reserves page from the footer of the page.
Navigating to the Proof of Reserves Page on KuCoin
2. Select Your Desired PoR Snapshot Time
Once on the page, scroll down to the “Verify Account Assets” section. Click “Verify Now” inside the Period Proof of Reserves banner to check your funds via our own system at your desired snapshot time.
KuCoin Proof of Reserves Page
3. Get Your ID and Verify Your Funds
Selecting the snapshot you prefer will enable you to proceed with obtaining your ID.
Generating Your Proof of Reserves ID
Once you have obtained your ID, you can proceed by clicking on the “View Verification Details” link. This will lead you to your personal Proof of Reserves page.
Personal Proof of Reserves
The personal Proof of Reserves page will present your assets portfolio on KuCoin during the snapshot, as well as how they are backed during the selected snapshot. It will also give you the option to copy the Merkle Tree data or download your wallet address information.
KuCoin’s Proof of Reserves lower the barrier for crypto investors to check the safety of their funds on our platform. Our simple step-by-step guide ensures that users enjoy an easy-to-use and intuitive process for self-verification of their KuCoin balance, without any technical expertise. Finally, our PoR verification supports diversified assets, so users can rest assured that their funds across a wide range of crypto assets are fully backed and held safely on KuCoin.