The limited deformation of hard cermet particles and impacted coating makes it difficult for conventional thermal spray powders to continuously build up on impact in cold spraying. In this study, three nanostructured WC-12Co powders with different porous structure and apparent hardness were employed to deposit WC-Co coatings on stainless steel substrate by cold spraying. The deposition characteristics of three powders of porosity from 44 to 5% were investigated. It was found that WC-Co coating is easily built-up using porous powders with WC particles bonded loosely and a low hardness. The microhardness of WC-12Co coatings varied from 400 to 1790 Hv with powders and spray conditions, which depends on the densification effects by impacting particles. With porous WC-Co powders, the fracture of particles on impact may occur and low deposition efficiency during cold spraying. The successful building up of coating at high deposition efficiency depends on the design of powder porous structure.