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Major Cryptocurrency Exchange KuCoin Now Launched Fiat Deposits

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KuCoin, a major cryptocurrency exchange, announced today it is launching a new service “KuCoin Fiat Account,” which will allow its users to deposit US dollars (USD) to the platform. KuCoin was named one of the best crypto exchanges for 2021 by Forbes.

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The new feature will allow traders to deposit USD by using a credit or debit credit and then invest and trade cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), etc.

This way, the popular cryptocurrency exchange has responded to a growing demand for fiat deposits. New traders with little or no prior experience may have struggled to convert fiat to crypto and ultimately start trading digital assets. 

Users will be able to deposit funds in USD by using Visa or Mastercard debit and credit cards, before converting funds to crypto-assets. The cryptocurrency exchange plans to expand the list of accepted fiat currencies to EUR, AUD, GBP, and RUB in the “near future.”

By launching KuCoin Fiat Account, KuCoin launched a new feature to supplement existing services like P2P Fiat Trade, as well as third-party fiat gateways that include Simplex, Banxa, and BTC Direct.

As the ‘People’s exchange’, KuCoin continues to improve the experience for all classes of crypto investors by introducing advanced products with less complexity and lower fees. The KuCoin Fiat Account will help get more intenders on board, contributing to the mass adoption of crypto ahead,” commented Johnny LYU, CEO at KuCoin Global.

To mark the launch of a new popular feature, KuCoin pledged to reward users with a 50% discount on their purchase, valid only for the first 100 traders who buy USDT via KuCoin Fiat Account from  18:00 on November 2 to 18:00 on November 5, 2021 (UTC).

This news comes just a day after KuCoin listed 4 new tokens on its platform – TrueFi (TRU), Dreams Quest (DREAMS), Meter (MTRG), QuickSwap (QUICK).

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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