Cryptocurrency exchanges are on the rise. Wouldn’t you agree?
Over the last two years, there have been many cryptocurrency exchanges have come to the forefront. However, if you go back a few years, there was only one exchange – Mt. Gox. Things were different.
The shift has happened because many investors worldwide have become more educated about cryptocurrencies, and we at CoinSutra would like to believe we have had an important role in spreading awareness.
Cryptocurrency users are more mature than ever and have a plethora of options. Also, every crypto exchange has its USP that it uses to entice users. In today’s times, it is not just Mt. Gox or FTX.
One such unique exchange is KuCoin. I have used this exchange several times and have found it rather easy to use with a lot of cryptocurrencies to buy/sell here.
In this article, I wish to share some of the key aspects of my review after using the KuCoin exchange.
You should check out MEXC Exchange which seems to be a good alternative to KuCoin.
KuCoin is a world-class blockchain asset exchange that prides itself as “The People’s Exchange” and has risen to the crypto space in 2017.
KuCoin also has a native cryptocurrency called as KuCoin for its exchange users. Holders of this token get access to unique features that we will discuss further in this article.
Moreover, it is a crypto-to-crypto exchange which means you won’t find fiat pairs like USD/EUR here. You can, however, rely on USDT-like stablecoin to save yourself from volatility.
For quite some time, it was also amongst the busiest exchanges in the world that was pulling the most crypto trading volume (in the top #10).
It also has real-time order books and programs for institutional investors, which we will discuss later in this article.
Kucoin offers very clean dashboard, which a lot of you would enjoy.
KuCoin offers multiple accounts within one account, such as:
You can always move funds from one account to another within a few clicks, and such transfers are free and instant
KuCoin is a multi-coin international exchange that maintains order books to match buyers and sellers. But to use these, you need to go through a simple KYC check.
The UI of this exchange is excellent and not cluttered like Bittrex or Bitfinex. That’s why it is easy to glance at books and make decisions quickly.
KuCoin has more than 400 markets live as per CoinMarketCap, which means you have 398+ cryptocurrencies/pairs trading on it.
You will find popular cryptocurrencies like BTC, BCH, LTC, ETH, and LTC, and numerous other tokens from various blockchains.
The real fun is here.
KuCoin has a simple trading fee structure of 0.1% and doesn’t follow the taker/maker model. But one can even customize this trading fee and get a discount of up to 30% on the 0.1% trading fee.
The important thing to note here is that only KCS (KuCoin Shares) holders can get this discount as per the following model:
For every user holding at least 1000 KCS, this will result in a 1% discount on trading fees. The maximum discount rate shouldn’t exceed 30%. Therefore, holding 10,000 KCS results in a 10% discount, holding 30,000 KCS results in the maximum discount rate of 30%.
For deposits, the transaction fee is ZERO. For withdrawals, here is the fee structure based on different cryptocurrencies. You can also use this special KuCoin referral code to save 5% on Kucoin trading fees forever.
KuCoin supports a large number of countries around the world, such as India, Turkey, Japan, Canada, the UK, Singapore and many others. KuCoin doesn’t have a license to operate in the USA yet.
Customer support of KuCoin is quite robust. I have not faced any issues with them thus far. Also, their live chat feature is unique and unlike any other exchange and helps in on spot resolution of minor problems.
Apart from that, you can leverage their Freshdesk-powered ticketing system and an FAQ section to solve your most pressing questions. If you ever get stuck with KuCoin and need support, you can reach out to their Telegram support, which is faster.
To get support, you can find KuCoin support link at the footer of the site (See screenshot below)
As if all the features above weren’t enough, they also have mobile apps which anyone can use with the same login credentials to trade cryptocurrencies on the go!
One requires this facility because cryptocurrencies are highly volatile assets that need quick decision-making to make the most out of them.
On the KuCoin exchange, you can also find interesting, advanced charts for a more in-depth analysis of your trading strategy. You will find charts of different intervals where you can apply different indicators to reach a conclusive decision.
You can also check the market depth by looking at the buy/sell walls.
It is effortless to get started on KuCoin. You require an email sign-up to get started on it.
The KYC verification process consists of completing an online questionnaire, submitting supporting documents and authorizing KuCoin to complete the verification process. The processing time for each KYC Verification can take up to 2-4 weeks, depending on the total volume of submissions. (source-KuCoing blog)
That’s why it is advised that you apply for it right away. A KYC-verified account will also have access to the Fiat-Crypto exchange services that KuCoin plans to launch shortly.
Is KuCoin Trustworthy & Safe To Trade?
Given its last year record and my experience of using it, I can say it is an excellent and safe exchange to trade some exciting cryptocurrencies that you might not find on any other exchange.
In the recent time, KuCoin has added many advanced features, such as
and they continue adding new features.
Moreover, there is another incentive for KCS holders to earn passively on the KuCoin exchange as they are entitled to a 50% bonus which KuCoin will be sharing with these users from its trading fee earnings.
For example, user Bob holds 10000 KCS in his account on our exchange. Let’s say in October, the average volume of our entire exchange per day is 10000 BTC; according to our current fee rate, the trading fee we collect per day is 20 BTC. So this user will get 20 * 50% * (10000/100000000) = 0.001 BTC per day, 0.03 BTC per month!
Another cool thing for KuCoin exchange users is the availability of its UI in 12 different languages and prices in more than 30 fiat currencies, which is a must requirement for an international crypto exchange.
Now time to hear from you: Which exchange do you use? Have you used KuCoin yet? How has your experience been so far? If you have, do share your experience with us in the comments belowNews appeared first on: Coinsutra.com