KuCoin is a leading cryptocurrency trading platform that has dubbed itself as “The People’s Exchange”. Despite being among the latest entrants into the cryptocurrency world, KuCoin has managed to establish itself as a reputable trading platform aimed at making trading smooth. Apart from offering unique trading packages, KuCoin has been operating smoothly without any security hitches. The exchange comes with good trading rates, bonuses and easy accessibility through both Android and iOS platforms.
The success of the Hong Kong-based exchange can be tied to research by the team before unveiling it. In this article, we look at the in-depth review of KuCoin by highlighting some of the features that make it stand out.
Getting Started with KuCoin
The KuCoin sign up process is easy and smooth. Note that the exchange’s Know Your Customer (KYC) validation is optional. To sign up with KuCoin, you need to visit the official website. You will use your email and select a strong password. KuCoin then sends you an account verification email. To keep your account safe, KuCoin has the two-factor authentication feature which you need to use. You can then log into your account and start trading.
KuCoin is among the affordable trading platforms based on its relatively low fees. To deposit on KuCoin is free while the charges for trading stand at 0.1%. However, withdrawal fees are determined by the asset. GAS and NEO assets are free to withdraw. Withdrawing Bitcoin will cost you 0.0005BTS, Litecoin is 0.001 LTC while Ethereum stands at 0.01 ETH. KuCoin has a unique program where a big percentage of KuCoin fees is channeled back to the users. 90 % of the daily trading fees go to the KuCoin shares plan. The exchange only retains 10% of the entire trading fees.
How To Trade on KuCoin
KuCoin supports more than 100 cryptocurrencies including Bitcoin, Ehereum, Litecoin, NEO, Cardano among others. KuCoin offers various trading pairs. To get started, you need to deposit funds into your account. Note that KuCoin does not accept fiat deposits. To trade, log into your account and use the ‘Markets’ button in the top banner menu and select the crypto you deposited. You will then click on the pair you would like to trade. KuCoin then redirects you to a new screen that displays a chart with price over time, the order book, price data and trade history. You will also provide your 2FA code.
Once your trade has been lodged, wait for a few seconds until there is a corresponding buy/sell order. The coins will then reflect in your wallet once the trade is successful. Recently, KuCoin added the efficient notification module for sending real-time market data. This information is availed through SMS push notifications and mobile applications. KuCoin does not allow fiat withdrawals. To withdraw your funds, you need to conduct a cryptocurrency wallet-to-wallet transfer. Click on the ‘Asset’ tab and select ‘Withdrawal’ from the menu. In the next stage, click on the asset you would like to move. Enter the required information to start the withdrawal process. You choose an external wallet address from the list, or add one and then insert the amount you want to transfer, followed by the answer to one of your security questions.
KuCoin Security Features
KuCouin is a secure cryptocurrency exchange considering the fact that it has not suffered any security hitches since establishment. The exchange exists based on top security standards in the market. The exchange has the standard transfer encryption protocol for data transfer layers. In other words, sensitive information on users is stored on data encryption at a bank level. Additionally, the exchange also deploys the authentication feature as another level security level.
Compared to peers, KuCoin is among the exchanges with an internal risk control desk. This department ensures all systems are running smoothly. Although KuCoin is still new, the team behind the exchange has a reputation for being professional. This aspect ensures that people have trust in the exchange.
KuCoin User Interface
KuCoin exchange can be accessed on the web, and mobile devices. The exchange comes with an easy to use interface for both beginners and experienced traders. The interface is not cluttered since most of the detailed chart information is hidden unless you need it. This is an encouraging feature for new customers. To trade, there is a clean listing of the over 300 crypto pairs making it easy to navigate.
KuCoin Customer Support
To contact the KuCoin team, there are several channels to use. Note that the exchange is available on a 24/7 basis to ease the resolution of customer concerns. You can reach out to the team through email or websites. The platform has accounts with various social media platform like Twitter and Facebook for easy contact with customers. Additionally, the KuCoin support center has an FAQ section to help users who experience common challenges while using the platform.
KuCoin Bonuses Referrals and KuCoin Shares
As an exchange of the people, KuCoin has a number of bonus programs in place. We have the KuCoin Shares program. KuCoin Shares (KCS) are the native currency of the KuCoin exchange that enables holders to profit from the success of the exchange. Kucoin Shares (KCS) is an ERC20 token on the Ethereum blockchain which has a set supply of 91,043,076 KCS tokens in circulation with 181,043,076 KCS in existence. Customers who hold more KCS receive more dividends. KCS is a good place for earning passive income in the long run. Note that if you hold the KCS you get a discount on trading fees. Furthermore, KuCoin also runs a referral program as a means of increasing its customer base. Upon signing up, every user gets a unique referral URL. When someone joins and starts trading, you’ll automatically get 20% of their fees.
- Offers an exceptionally wide range of currencies.
- Adopts promising new coins.
- No verification required.
- Additional features and benefits offered by KCS.
- Very low deposit, withdrawal, and trading fees
- Simple to use – perfect for beginners
- Cryptocurrencies only trading.
- No fiat currency accepted.
- KuCoin sometimes experiences difficulties during high-traffic periods.
- Sometimes difficult to find English-language support if needed
KuCoin is a new cryptocurrency exchange that is making great moves in the market. The exchange has a reputable team of professionals. The exchange is friendly to traders of all levels due to an easy to navigate interface. Additionally, we have community features that can be beneficial to your trading journey. The exchange is ideal considering the fact that you can make passive income through the KCS initiative. Furthermore, the exchange comes with one of the most competitive trading fees out there. The referral bonus is positioning the exchange for a high clientele in the future. However, on the downside, the exchange needs to allow fiat deposits. This help to increase the exchange’s customer base.
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