Cryptocurrency Exchange

KuCoin Exchange Review – Reliable, Safe, And Simple Exchange

Trading and holding crypto tokens, subsequently selling them or buying more can be quite intimidating at the beginning for new users. What could help them declutter their dilemma is a great crypto exchange platform and one such is KuCoin.

In this review, get a complete guide to KuCoin and know about it all from fees, security, a referral program to customer support, legitimacy, and more.

Overview

Legal NameKuCoin Exchange
HeadquartersSeychelles
CEOMichael Gan and Eric Don
Year Founded2017
Exchange TypeCentralized
Deposit MethodsWire transfer
Supported CryptosBitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

About  KuCoin Exchange 

KuCoin is a third-party cryptocurrency exchange that lets you buy, sell, and trade a variety of cryptocurrencies. The main goal is to provide a secure and simple platform for people all over the world to trade digital currency.

Kucoin is also regarded as “The People’s Exchange.” It has a large number of trading pairs and crypto-related services. It also boasts a user base of over 8 million people from 200 different countries.

Kucoin has its own cryptocurrency, which is known as Kucoin token(KCS)If you hold KCS coins, you could save a lot of money on trading costs and gain more cryptocurrency.

How to Set Up Account 

Step 1: Head to the official KuCoin website

Step 2: Complete the Login process by feeding in your Email Address and creating a strong password.

Step 3: Get your account verified by uploading the document of identity required. The KYC will soon be approved. However, verification is optional.

Step 4:  Make a deposit by Selecting a coin from the list or search for it by clicking the ‘Deposit’ option. Then choose an account, fill in the address and amount, and paste the information into the withdrawal platform.

How to Buy tokens

Step 1: Click on “Markets” on top of the page

Step 2: Search for the coin you want to buy by using the search bar. KuCoin will then list all of the different trading pairs that are available for the coin you want to buy.

Step 3: Click on the trading pair which matches the coin you deposited with.

Step 4: Click on the buy box, located below the list of orders.

Step 5: To finalize your deal, enter the number of coins you want to buy, select the blue best price button, and then click the green buy box.

How to Deposit and Withdraw ?

Deposit

Step 1: In the upper right corner of the website, find “Asset” and click “Main account (Deposit&Withdraw)” from the drop-down list.

Step 2: Click”Deposit” on the left side, select the coin you want to deposit from the drop-down list, or search for the coin’s name directly and select it.

Step 3: Just copy your deposit address and paste it into the withdrawal platform, and then you can deposit coins to KuCoin.

Withdrawal

Step 1: Log in to your KuCoin account. Click on the “Overview” under the “Assets” tab, then the “Withdraw” tab. You may type the token name in the search box, or scroll down and click on the token you want to withdraw.

Step 2: Once you have selected the correct token, you will need to add the wallet address (composed of remark name and address) and amount. The Remark is optional. Then click “Confirm” to carry out the withdrawal.

Step 3: Input your trading password> E-mail verification code> Google 2FA code or SMS verification code to complete all the withdrawal steps.

Fees And Supported Cryptocurrencies

KuCoin deposit fees are zero. It means it does not charge a penny to users for depositing related transactions. As for withdrawal, it is the lowest withdrawal costs in the crypto market. Every time a user withdraws BTC, it charges 0.0004 BTC.

KuCoin features over 770+ trading pairs for over 400+ cryptocurrencies, including BTC, ETH, MXR, DAG, BCH, EOS, and LTC. You can also get tokens such as DADI, KCS, and OMG.

KuCoin’s Simplex, Banxa, and OTC platforms now allow you to buy crypto with 50+ fiat currencies. EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND, IDR, CAD, ZAR, NZD, HUF, ILS, PLN, SEK, CHF, CZK, DKK, NOK are among the fiat currencies supported.

Mobile App

KuCoin offers a native mobile app on both Google Play and the iStore, free of charge. The app allows you to trade, access your wallet, fund your account, receive notifications, and check your transaction history.

Referral Commission

KuCoin’s referral program allows users to earn money by referring friends and family to the exchange. When a user refers a friend to the exchange, the first user will receive up to 20% of the referred user’s trading expenses for the first year of their participation on the site. 

Kucoin Trading Bot  

Through their new trading bot, KuCoin has made it easier for anyone who wishes to enter into trading to generate passive revenue. KuCoin’s trading bot is presently available on their mobile app, with the following settings:

“Classic Grid” and “DCA.”

Smart Rebalance

Futures Grid 

  • DCA is for dollar-cost averaging, and the bot simply assists you in dollar-cost averaging your cryptocurrency investments.
  • Classic Grid is a method of quantitative trading in which different price points are put up using a grid. The bot waits for certain price points to be met before buying or selling the cryptoasset at a low price.

When setting up the bot, you have two options: a minimum and maximum price range in which the trading bot will function, and the number of orders that will be placed. The bot will buy the crypto assets at the lowest and highest price points determined by the Min and Max price points. The bot will cease trading if it goes above or below this range.

It’s also feasible to replicate the results of individuals who are on KuCoin’s leaderboard. According to the leaderboard, some traders have APRs of over 3,000 percent, and all we have to do to duplicate them is click on their profiles, review their parameters, and click to automatically replicate the technique.

Kucoin Lending    

KuCoin allows you to lend your idle assets to other KuCoin users who are looking for margin trading loans. A margin trader can borrow USDT and place a wager on a token that she believes will rise in value. USDT is repaid with interest afterward. She must, however, keep a specified amount of assets as collateral to guarantee the loan.

The average annual interest rate on USDT is roughly 50%. A total of 10% of the interest earned on KuCoin will go to an insurance fund, with the remaining 5% going to a trading charge. The insurance fund will pay the loss if the borrower’s collateral loses its value.

You can choose how long you want to lend your assets and the platform is simple to use. The alternatives are seven, fourteen, or twenty-eight days. A borrower, however, can repay the loan at any time, regardless of the loan period you choose.

There is also an option called auto-lend that allows you to automatically lend your assets, but you must enter a daily interest rate.

KuCoin leverage tokens 

KuCoin Leveraged Tokens are tokens with a leverage feature that are managed by a fund manager and aim to provide traders with a specific multiple of underlying asset earnings by trading Leveraged token shares.

KuCoin Leveraged Tokens are everlasting tokens with no expiration date and no negative price, therefore there is no fear of liquidation. In the primary market, investors can subscribe to or redeem tokens, and in the secondary market, they can buy or sell them. For KuCoin Leveraged Tokens, traders do not need to pay any margin.

Investors trading KuCoin Leveraged Tokens do not need to pay a margin or borrow funds to try margin trade for more profits. KuCoin leveraged tokens generate Trading fees, Subscription fees(0.1%), Redemption fees(0.1%), and management fees(0.045% every day).

Is Exchange Safe and Secure? 

KuCoin employs a variety of security methods, such as micro-withdrawal wallets, to protect both divides. It protects your funds using dynamic multi-factor authentication, industry-level multilayer encryption, and a dedicated internal risk control department.

The KuCoin team checks on a regular basis to see if organizations are following tight security standards when conducting day-to-day data activities.

Conclusion

KuCoin is a transparent, and interactive exchange with its advanced API. It has about 456 trading pairs to choose from and is serving millions of users currently. The relatively young exchange platform in the industry has experienced significant growth, and its large user base is a testament to its reliability.

FAQ

  1. Is Verification compulsory on KuCoin?

No, it is not. A user can make small trades by an unverified account. However, verification is encouraged to get security and extra perks.

  1. Is KuCoin Safe and Legit?

KuCoin employs a variety of security methods, such as micro-withdrawal wallets, to protect both divides. It protects your funds using dynamic multifactor authentication, industry-level multilayer encryption, and a dedicated internal risk control department.

  1. Can I buy crypto with fiat on KuCoin?

Yes, KuCoin supports different fiat currencies for buying tokens.

  1. Have There Ever Been Breaches in KuCoin Security?

No, KuCoin has never been hacked.

  1. How many languages can the KuCoin platform be accessed in?

The trading website is translated into 18 languages, including English, Russian, South Korean, Dutch, and Portuguese.

KuCoin Exchange Ratings
  • Currency Support
  • Online Reputation:
  • Trading and transaction fees
  • Customer Support
  • Security
Overall
4.4

Pros

  • Anonymous trading
  • High Security
  • Supports a variety of cryptocurrencies
  • 24/7 Customer support
  • Free Deposits

Cons

Bank Deposits not available

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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