A trader’s guide to everything about KuCoin exchange

In a world where cryptocurrency is becoming more mainstream, crypto users are looking for a secured platform where they can trade cryptocurrencies easily. 

KuCoin is one of the crypto exchange platforms currently on its way to the top of the list of the most trusted exchanges in the world. With the aim of providing a seamless trading experience, KuCoin offers a wide range of services and trading options for users to utilize.

But what makes KuCoin different from other crypto exchanges? What will users gain from using the platform? To find the answers to these questions, read everything about KuCoin below.

KuCoin: The People’s Exchange

KuCoin is a cryptocurrency exchange that allows you to buy, sell and trade various cryptocurrencies. Launched in September 2017, KuCoin is based in Singapore that initially started in China and was founded by Michael Gan and Eric Do. It offers over 200 cryptocurrencies to more than 8 million users around the world. 

Although the exchange is relatively new, it immediately gained a lot of users due to its user-friendly platform that earned them the reputation of being ‘the people’s exchange’. Additionally, it also has its own native token called KuCoin Shares (KCS) designed to allow users to earn discounts on trading fees based on the amount of KCS they’re holding. 

During its Initial Coin Offering (ICO), KuCoin sold over 100 million KCS for 0.000055 BTC each. As of writing, KuCoin is at the 6th spot in CoinMarketCap’s list of top crypto exchanges. 

KuCoin features

Like other crypto exchanges, KuCoin has a wide array of features that separates it from others. Check them out below:

Deposit and Withdrawal services

One of the most popular features of KuCoin is its withdrawal and deposit feature, which allows users to place and get any token of their choice into and from their accounts. These tokens include cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT) and more. 

Withdrawals in KuCoin only take 30 minutes or less and the process is handled manually. This is to ensure the safety of your funds, given that withdrawal amounts are typically large. Additionally, the fees charged by the platform depends on the type of cryptocurrency you’ve chosen.   

P2P Marketplace 

KuCoin has a P2P Marketplace where you can trade instantly and directly from a person who’s selling their tokens. You can buy and sell various cryptocurrencies such as Bitcoin, Ethereum and Ripple. 

However, if you choose to trade in the P2P Marketplace, keep in mind that KuCoin has no control over the person who’s selling their tokens. It only provides the platform to give users options on how they want to trade. 

Futures and Margin trading

KuCoin allows you to trade your cryptocurrencies with up to 100x leverage. A number of leverage Futures can be purchased and sold using various cryptocurrencies. Additionally, the Futures only supports Bitcoin (BTC) and Ethereum (ETH). 

Spot trading

As its name suggests, spot trading allows you to trade your cryptocurrencies on the spot. KuCoin offers four different options for you to trade which are the Market Order, Limit Order, Stop Limit Order and Stop Market Order.

Here are their differences:

• With the Market Order, you can purchase or sell assets at the current best available price on the market. 
• Limit Order is about purchasing or selling assets with a minimum or maximum price. 
• Meanwhile, Stop Limit Order allows you to purchase or sell assets when the specified trigger price was reached by the latest price. 
• Lastly, with Stop Market Order, you can purchase or sell assets at the current price on the market when the latest price reaches the predefined trigger price.
  

Advantages of using KuCoin

KuCoin comes with a lot of advantages that make it one of the top choices for both beginner and experienced traders alike. Here are some of them:

Low fees and incentives

KuCoin is one of the top crypto exchanges that offer low trading fees. It charges fees as low as 0.1% and you can even receive a discount if you pay using KCS. Those who have KC tokens receive a daily payout or KuCoin incentives that are equal to 50% of the trading costs on the platform. 

You will also receive some portion of the trading fees from new users you invited to join KuCoin. This is possible by sending the registration link to someone you want to join the exchange. 

Additionally, if you have enough KCS in your account, you can receive trading fee discounts. 

Buy crypto with fiat 

At KuCoin, you are allowed to purchase any cryptocurrency of your choice using fiat currencies such as USD, EUR, CNY, GBP, CAD and AUD through P2P fiat trade, credit and debit cards. With this, KuCoin provides you with options to easily buy cryptocurrencies. 

Wide range of payment options

KuCoin offers various payment methods to trade cryptocurrencies. Some of the payment solutions offered in KuCoin include Simplex, Banxa and PayMIR that makes buying crypto easier and convenient. 

Excellent customer service

KuCoin has excellent and seamless customer service that you can contact 24/7. You have the option to reach out to them if you have any questions through their website, email and ticketing system.  

Strong user base

Being at the 6th spot in the list of top crypto exchanges proves that KuCoin is one of the most trusted crypto exchanges in the world. The stronger the user base is, the bigger advantage you have since you can trade easily, given that there are a lot of people trading on the site.  

Safe and secured trading

Compared to other crypto exchange platforms, KuCoin doesn’t require its users to undergo the Know Your Customer (KYC) protocol to be able to trade on the site. 

This protects users from logging important details such as an address, email and contact number. You can simply register to create an account and begin trading immediately, giving you a seamless and quick way to use KuCoins services.  

However, if your account is unverified, you can only withdraw up to 2 BTC every 24 hours. If you want to withdraw large amounts of up to 100 BTC, you need to verify your account. 

Accessibility

KuCoin is accessible on any device whether a desktop computer, laptop, tablet or mobile phone. Download the KuCoin app on your iOS or Android devices to start trading!