Adrian JulianCryptocurrency trading has quickly become a very lucrative market. Traders are always looking for serious platforms to make this type of investment. KuCoin is a cryptocurrency exchange platform and a trading platform that is increasingly recognized among traders.
The reason? This is explained by the fact that many exclusive tokens are listed on the platform. This is indeed how a platform gains new users. This is typically the case with Kucoin.
Personally, for example, we have used a lot Binance but our last purchases of tokens were made on Kucoin because it was the only platform on which they could be purchased.
We are delighted to have discovered this platform in depth and we decided to tell you about it.
The site also allows you to negotiate derivative products among others. For you, I will review all the features of KuCoin, its functionalities, its trading platform, its fees and other services offered.
Presentation of Kucoin
KuCoin is a cryptocurrency exchange et a trading platform which was founded in 2017 This cryptocurrency exchange offers a wide range of digital assets and started solely as an exchange site before expanding to a range of popular financial derivatives. Starting in 2021, KuCoin started offering margin trading, futures trading and leveraged tokens, like other well-known sites.
Among the advantages offered by this exchange site on derivatives trading, we find a leverage up to 1:100. Trading commissions are competitive compared to other exchanges and the trading platform is very well designed, with a fairly clear GUI.
Concretely, Kucoin is a cryptocurrency exchange that also allows spot trading and futures trading. KuCoin supports spot trading of 70+ crypto assets and margin trading where you can trade cryptocurrencies with leverage of up to 1:10. The site offers perpetual and quarterly futures contracts. The platform also provides leveraged token trading, which does not require collateral or margin.
KuCoin trading platform
KuCoin provides 3 versions of desktop platforms for trading futures. The first is Futures Lite, ideal for beginner traders, with a very simple and intuitive interface. The second is Pro Futures, much more professional, with a set of high-level tools and indicators and the TradingView charting system. The third is Future Brawl for those who want to benefit from the best features.
For smartphone addicts, KuCoin offers a trading application available for Android and iOS systems. The mobile application allows you to trade, access your wallet, fund your account, receive notifications and view your transaction history.
More than 600 cryptocurrencies available on KuCoin
The platform offers investors more than 600 crypto asset pairs. It is possible to trade not only the most famous cryptocurrencies like Bitcoin or Ethereum, but also emerging cryptocurrencies like Stellar or Dash.
If you are new to trading, I recommend only trading the most well-known cryptocurrencies. As most cryptocurrencies are subject to strong price fluctuations, the market is considered extremely speculative and any investor can lose significant amounts of money in a short period of time.
The platform has set up its native token, it is the KCS. This token gives you the opportunity to get discounts on trading commissions and is designed to promote the site and retain users as much as possible. We also invested in this token.
Payment methods accepted by KuCoin
With KuCoin, you do not need common payment methods such as Paypal, credit cards or a bank account to make deposits. All deposits work exclusively via a wallet with available cryptocurrencies. Only if you already own coins of a digital currency can you exchange them for other cryptos. You can only exchange them for other cryptos if you already have coins in a digital currency. Fiat currencies of any kind are not supported and setting, for example, euros or dollars only serves to calculate transactions.
However, if anyone wants buy bitcoin, Ethereum or Litecoin via KuCoin, he can do it by credit card. After selecting the amount, the buyer is redirected to the Simplex website, where they must authorize and complete the payment.
How to register on KuCoin?
To create an account on the KuCoin platform, you do not need to be an IT expert. You just need to follow the following procedure:
- Go to the KuCoin website and click “Register”.
- Fill out the short online form. You have the possibility to register with your email address or your telephone number.
- You are not required to follow the KYC protocol unless you want to make significant withdrawals.
Kucoin Launchpad: Spotlight
For those who like to discover find new cryptocurrencies, this is then the ideal opportunity to unearth the next nuggets on the Kucoin Spotlight. It is the space where IEO (Initial Exchange Offering) are launched. You will then have the opportunity to invest in tokens before their launches. This makes it possible to have them at lower prices and to be able to generate more return on investment.
—> Read the article to find out more about the Kucoin Spotlight.
Fees and commissions on KuCoin
Fees on KuCoin vary depending on your chosen cryptocurrency. Deposits are free and transaction fees amount to 0,1% per transaction. However, if you use the KCS token, you get a discount on trading fees. Withdrawals or payments to another wallet also incur fees, which depend on the desired currency. KuCoin charges withdrawal fees for all cryptocurrencies. For example, it charges 0,0005 BTC for bitcoin withdrawals and 0,004 ETH for ETH withdrawals.
Security on KuCoin
Site KuCoin is secured by SSL encryption and each user must equip their account with a 2FA authentication. Additional 2FA authentication requires a mobile device to generate a random code. Data encryption is extremely important because transactions that have been made cannot be recovered. I urge you to always check the accuracy of data after entering it and before confirming it. This is the basis you will tell me.
Despite all these measures, KuCoin suffered one of the largest cryptocurrency thefts in history on September 25, 2020. Nearly $281 million in various cryptocurrencies were stolen from the exchange's wallet. The platform immediately assured its users that they would not lose their funds and that if a user suffered a shortfall. KuCoin has assured its users that they are covered by compensation funds.
Conclusion and final opinion on Kucoin
KuCoin is a trading platform, which, although it is quite new, continues to attract customers from all over the world. Thanks to its new features and the services it offers, KuCoin is already one of the strongest exchange platforms on the market.
We are preparing a tutorial video for those who are interested. Follow our Youtube channel to stay informed of new videos.
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Disclaimer: This content is for informational purposes and does not constitute financial advice. We strongly advise our readers to conduct their own independent research before committing to any investment.
