KuCoin has quickly and effectively grown into the most widely used crypto exchange. This platform is based in Hong Kong and serves people from all over the world. It is simple to use even for beginner traders and provides significant benefits to its users.
KuCoin Pros and Cons.
- The trading platform is pretty simple to understand and use.
- There are several different layers of protection for your account.
- Users can earn crypto via staking, lending, and trading Futures.
- Combines a secure, high-performing automated trading bot.
- It provides a variety of tools for decentralized financial activities.
- There is no such concern to mention.
Some basics of Kucoin.
Kucoin is a leading cryptocurrency exchange that has built up the trust of the crypto asset user community by introducing unique features to the digital currency trading market, such as Loans, Staking, Mining, P2P, Futures, and Credit Card purchases of cryptocurrencies. The exchange platform supports a wide variety of cryptocurrencies as well as brand-new tokens. This makes it possible to buy digital assets, store them in a wallet, and even trade them in an easy and secure manner.
Kucoin is also an exchange that simplifies transactions in cryptocurrencies in a quick and easy manner by integrating a variety of blockchain networks that are suited to each cryptocurrency. This makes it possible to carry out efficient transactions while paying low commission fees to a number of different blockchain networks. To use KuCoin, you must Register Here and complete KYC (Not Mandatory). You’ll need to provide your ID. To access additional trading options, you may provide more personal details. The KuCoin verification procedure takes around an hour. Other than KYC, you may use the platform, however, there are limits.
KuCoin’s services are innovative, and users can quickly and easily access them. It offers cutting-edge services, and users can easily access them because the platform has an attractive navigation bar and an intuitive design. These features make it possible to customize the platform in a number of ways, including the language used for the interface and the currency used to display the dollar value of each token in relation to fiat currency.
It is simple to carry out transactions with KuCoin because the platform makes use of QR technology, incorporates a number of different blockchain networks, and requires the use of a security PIN, authenticator, and mail-in code in order to carry out transactions. These features inspire both confidence and security.
Trading on the KuCoin platform.
It is a secure trading platform with good options for crypto trading and checking assets in crypto wallets, and it also has a mobile application with an innovative interface that works with both iOS and Android devices. KuCoin trading is simple and clear, tokens must be moved from the main to the trading account, which secures funds, the trading interface looks nice, most tokens are liquid, so trades are executed quickly and a trading PIN is needed to authorize tokens sales and purchases, which serves as an additional layer of security against unauthorized digital asset transactions.
It is quite clear that the target audience consists of expert traders who are interested in trading the large variety of cryptocurrencies that the platform provides. However, the user interface was designed to be simple on purpose, so if you are an expert trader, you will find that it is rather easy to use. You may also conduct trades and request withdrawals via the dashboard, in addition to monitoring your portfolio and keeping track of its status.
In addition to this, it offers a variety of helpful graphs that can be used in order to have an understanding of the patterns in the industry. These tools may help many experienced investors make judgments based on accurate information. On the other hand, when it comes to the design itself, we get the impression that there is space for development.
Trading Fees.
It features a leveling system that ranges from 1 to 12. The higher your level, the less you will have to pay to make trades. Your level shifts every day, depending on the 30-day moving average of your trading volume and the number of KCS you have. You will be charged 0.10% of the total amount from level 0 to level 4. The maximum amount that may be withdrawn is capped at 200 BTC or its equivalent. As soon as you achieve level 5, your transaction costs will begin to go down. Your maximum withdrawal per month has been increased to 4,000 BTC, and the taker charge has been lowered to 0.7% while the maker fee has been eliminated entirely.
There are different costs associated with funding futures contracts on the marketplace. The funding rate for futures contracts will be in the range of 0.03% to 0%, with 0% serving as the base rate when the market circumstances are usual. Because withdrawal costs are essentially tied to the transaction fees that are charged by the network itself, their amounts are subject to some degree of variation.
Some of KuCoin’s advanced features.
Some of the advanced features of the KuCoin platform make the platform more attractive to crypto traders. These features are mentioned below.
- KuCoin Earn: It will place the funds into a separate account for you, but it will enable you to generate passive income from your cryptocurrency holdings. Earn provides customers with the option to choose between flexible and fixed terms for products such as Flexible Savings and Staking.
- KuCoin Trading Bots: It provides you with the opportunity to develop trading bots, which assist in automating a significant portion of the manual complexity associated with trading and let you focus on the essential components of your investments. A trading bot is a piece of software that monitors prices and variations in the market in addition to making trades on your behalf. You have the ability to develop a variety of different trading bots, some of which are more complicated than others.
- Margin & Future trading: On its platform, it provides the option to trade with margin. Trading on margin entails obtaining a loan in order to trade with it, which places it significantly closer to the more advanced end of the range. It’s risky and not recommended for beginners. Futures trading requires you to make a prediction about the price of a cryptocurrency and then commit to buying it at a certain future date and price. It is strongly suggested that you do not engage in futures trading unless you have previous experience doing so. However, if you are aware of the potential risks involved and would still want to try your hand at it, KuCoin is a fantastic choice.
How secure is KuCoin?
KuCoin was developed on a platform that is decentralized and utilizes blockchain technology. Additionally, many other safety processes have been implemented to protect your trading activities. These policies are now in effect. It is also encrypted from beginning to finish, which means that none of your passwords will ever be compromised. You also receive access to more complex features, such as Two-Factor Authentication, which helps protect the user login credentials you use.
It uses a more robust kind of SSL encryption to better safeguard your personal information. Because it may make or break your whole trading experience, security is an essential component of every cryptocurrency exchange platform. Despite this, we feel comfortable stating that KuCoin is a safe cryptocurrency trading platform.
Closing Thoughts.
It provides what is widely considered to be the industry’s greatest trading service at the present time. When you combine the variety of options that KuCoin provides with its cheap trading costs and savings for holding KCS tokens. As of right now, it supports over 1100 markets, which helps it stand out as one of the most important participants in the cryptocurrency business.
We have come to the conclusion that KuCoin is an excellent site to use if you are interested in trading a number of alternative cryptocurrencies. In addition, we find the cheaper fees and increased services offered by the platform to be beneficial, and as a result, we have no hesitation in suggesting KuCoin.
Our overall rating for KuCoin is 9 out of 10.
Are you looking for a better and more secure crypto exchange?
