Is Kucoin Exchange Legit? Arbitrage Questions

[brozamsterdam]

Alright guys,

My crypto journey has been largely in XRP, but decided today to venture into some of the more exotic coins to see if I can get any them big swings (yes, wish me luck!). So, I bought four coins on Binance, and after checking coinmarketcap and then checking my balance, the Binance balance was always lower than if I calculated via the coin price on coinmarketcap.

I looked around, and Binance seems to have sell prices far lower than many other exchanges. I'm aware of the concept of arbitrage, but the differences were about 10% - which seemed too large. Then I found one, Kucoin, where it's almost 40%. 

My question here is - is Kucoin exchange legit? Are there any hidden traps I'm not aware of.

UPDATE: Figured it out. The buy price on Kucoin is 40% higher than the sell price and they list the buy price on coinmarketcap. So, just as I thought - no easy killing here.

Edited December 8, 2017 by brozamsterdam