Kucoin is a cryptocurrency exchange that allows people to trade digital assets such as Bitcoin, Ethereum, and various others. It’s become one of the more popular exchanges in recent years because it offers an easy-to-use platform with a wide variety of coins. The founders’ goal was to provide a simple and secure platform for people all around the world to exchange a variety of digital currencies. They intend to be one of the top ten largest exchanges in the world in the long run, and they expect to do it by 2021. The KuCoin exchange has not had any major issues since its start, and it is normally free of system overloads. The KuCoin platform may now be accessed from a desktop computer as well as the KuCoin app for Android and iOS.This blog post will cover some information about Kucoin so you can get started trading today!
Top Four Attributes:
- Bitcoin Purchase Made Safely and Quickly
- There are a variety of order types to suit any risk appetite.
- Numerous Ways to Earn That Will Help You Preserve and Increase Your Wealth
- KuCoin is held by 1 out of 4 cryptocurrency holders worldwide.
Pros:
- Deposit, withdrawal, and trading costs are all quite minimal.
- It’s quite easy to use, therefore it’s ideal for beginners.
- A wide variety of coins are available, including recently announced cryptocurrencies.
- Security features that are effective
- There is no authentication, so you can trade anonymously.
Cons
- Support can be difficult due to a language barrier.
- During periods of high usage, the platform has issues.
Services and Key features
KuCoin, as a cryptocurrency exchange, provides customers with access to the majority of common cryptocurrency services. The sheer number of trade pairs available for both established and emerging coins sets this exchange apart from others. KuCoin, as an early adopter, allows intelligent traders to invest in cryptocurrencies that aren’t accessible on other platforms while they’re still inexpensive, making it a good option for traders willing to take a chance on new coins.
KuCoin was among the first digital currencies to embrace the current trend in cryptocurrency financing, the initial exchange offering (IEO), even establishing its own platform to give its consumers a leg up on the competition.
Finally, one of the platform’s most prominent features is its unique rewards system, which not only helps traders to save on trading costs but also offers users passive income through the KuCoin dividends system. The system is built on KuCoin’s native cryptocurrency, KuCoin Shares, which may be exchanged with a variety of currencies but can only be purchased using KuCoin.
Sign-up Process
To open a new account with KuCoin, you must first go to their official website. After that, go to the top right-hand side of the screen and click sign up.
The terms and conditions of the transaction will then be disclosed to you. Despite the fact that I have previously read them, it is definitely better if you go through them again to ensure you understand everything. After that, check the box to agree to the terms and conditions, then click next. Now you must enter your email address and create a password that is extremely difficult to guess. You’ll next be asked to slide the bar from left to right to verify that you’re human! Finally, you must confirm your email address by clicking on the link sent to you by KuCoin in order for your account to be activated. That’s all there is to it; you now have a KuCoin account! You may now fund your account with coins and begin trading right away. Furthermore, you will not be required to submit any documentation to establish your identification!
How to use Kucoin exchange?
Do you want to know how to acquire KuCoin? This is also really simple! After you’ve financed your account, go to the top of the website and select Markets.
After that, you must look for the coin you wish to purchase. To do so, type it into the search box on the right-hand side of the page.
KuCoin will then provide all of the possible trade pairings for the coin you want to purchase. Select the trading pair that corresponds to the coin you used to make your deposit!
You’ve arrived at the main trade screen. Look for the purchase box underneath the list of products on the right side of the page.
To finalize your transaction, just enter the quantity of coins you wish to buy, select the blue best price button, and then click the green buy box. That’s all there is to it! So, now that you know how simple it is to establish an account and purchase on KuCoin, the next section of my KuCoin review will look at which traders KuCoin is most suited for!
Why should you choose Kucoin as your trading platform?
When I initially used KuCoin, I was pleasantly surprised to see that the site is quite user-friendly. Everything from placing a deposit to executing a trade is quite straightforward, as you can see from my instructions above.
The KuCoin exchange is also suitable for more experienced traders, as it includes a number of tools for analyzing pricing movements, such as candlestick bars. However, compared to larger exchanges like Binance, KuCoin’s typical trade volume is in the tens of millions.
Low trade volumes can sometimes indicate a lack of liquidity, which can be a concern. This should not be a concern if you are just exchanging little amounts; but, if you are seeking to trade huge sums, KuCoin may not be the ideal exchange for you.
In the end, new cryptocurrencies are sometimes only listed on one exchange when they are initially released. If the cryptocurrency you’re looking for is only available on KuCoin, you’ll have no alternative but to utilize it. So, now that you know how user-friendly the platform is, the next section of my KuCoin review will examine whether or not the exchange is secure!
Is Kucoin safe?
Security is one of the most pressing concerns in the bitcoin sector. Although the cryptocurrency industry’s best efforts and continuous security system updates, hacking continue to be a major source of fear for traders, and with valid reason. Coincheck, the largest heist of 2020, saw virtual assets worth over $534 million stolen, prompting the exchange to freeze all deposits and withdrawals from all cryptocurrencies on its platform save Bitcoin. Hackers targeted a lesser-known cryptocurrency called NEM in the Coincheck breach, which reportedly plunged 11% as word of the hack spread online.
Despite the fact that KuCoin has built various security protections into its user interface, the network was targeted by hackers in 2020, with the exchange saying that over $150 million in virtual currency was stolen in September. KuCoin consumers are fortunate in that the company has extensive insurance coverage, which enabled affected users to be compensated following the hack. However, regardless of whatever exchange you choose, you should never retain substantial sums of money there. Withdrawing your funds to a secure personal wallet is always a better option (such as a hardware wallet).
Availability of Coins
KuCoin offers over 300 distinct trade pairs accessible at the time of writing. BTC/ETH, for example, is a trading pair that allows you to trade Bitcoin with Ethereum. They currently support over 75 different cryptocurrencies, with more being added all the time.
The bulk of prominent coins, such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, are included in this list, as well as less popular (but nonetheless top cryptos) coins like VeChain and Lympo.
KuCoin appears to be a popular exchange for new cryptocurrencies that have completed their initial coin offering (ICO), which means it’s an excellent place to start buying cryptocurrencies. KuCoin’s founders claim that by the end of 2018, the platform would support over 1,000 different cryptocurrencies.
Final thoughts
KuCoin has been an amazing exchange so far. I’ve enjoyed it so much that I decided to invest in some new coins on the platform, and now I can enjoy getting passive income from those investments too! If you want a safe way to trade your favorite cryptocurrencies without having to worry about being scammed or hacked, then sign up today for free at www.kucoin.com You won’t regret it!
