Kucoin is one of the top largest cryptocurrency exchange for buying and selling crypto. The platform is almost 5 years into crypto business it was established in the year 2017. With over 10 million users worldwide right now. Kucoin is one of the broker that offer the lowest fees for trading crypto compared to others exchanges.
Kucoin Pros and Cons
Pros
- Ability to earn interest on crypto
- Low fees
- Strong user base
- Wide range of coins
- Advanced trading features
- Good customer service
Cons
- Not licensed in the U.S.
- Limited payment methods
- Not for new traders
- Limited educational resources
Kucoin Tradable Coins
KuCoin users have the opportunity to trade over 500 different cryptocurrencies for buying, selling, and trade. In addition to most popular crypto such as
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Polkadot (DOT)
- Shiba Inu (SHIB)
- XRP (XRP)
· KuCoin offers one of the lowest fees among other exchange for a maker/taker commission fee, ranging from 0.0125%-0.1%, this depending on your tier level.
· Its fees are relatively low compared to competitors, which may charge up to 0.50% per trade.
· Kucoin users can get trading fee discounts based on their KuCoin Token (KCS) balance.
· KuCoin charges withdrawal fees that vary by asset and are subject to change based on market performance.
· Zero charge on deposits are free on this exchange,
· But it’s important to note that KuCoin offers limited options for fiat deposits at this time.
Note that a kucoin users can reduce the fees pay on KuCoin by trading more or holding at least 1,000 KCS. The maker/taker fee starts at 0.1% and gets lower as you level up. Users fees will be reduced further if opt to pay in KCS.
In KuCoin is free to make deposits. If you're depositing crypto, but you'll need to pay to put fiat (traditional) money into your account. For example, to convert U.S. dollars into USDT, the fees can be anything from 1% to 3% by card. Withdrawal fees vary by cryptocurrency. Here's what you'll pay to withdraw some of the popular coins:
|
Crypto |
Withdrawal fees |
Minimum Withdrawal |
|
BTC |
0.0005 BTC |
0.001 BTC |
|
ETH |
0.004 ETH |
0.01 ETH |
|
USDT |
1 USDT / 10 USDT |
1 USDT / 0 USDT |
|
ADA |
1 ADA |
2 ADA |
|
XRP |
0.1 XRP |
20.1 XRP |
Below are the summary table that show some withdrawal fees and minimum amount to withdraw in kucoin platform.
Kucoin Mobile App
KuCoin mobile app are awesome with google graphic inter-face very user friendly. The mobile app is convertible with both Android and IOS devices and is available to download in google play store for Android users and Apple store for IPhone users. Kucoin user are allows to use trading bots through its mobile app. Trading bots can automatically buy and sell your crypto so you don't have to be online all the time to follow the market.
KuCoin Security and Safety
KuCoin used cold storage to store most of their digital assets to protect themselves from hacking. The company has partnered with another company called Onchain Custodian to secure the crypto assets stored on its exchange. That includes insurance from Lockton against crimes such as hacking that mean if in case in the event the platform been hack their insurance cover be will fix such loss. This happened before and the company was taken quick action to fix and they are transparent about what happened. It also has a bug bounty program to encourage ethical hackers to report any weaknesses in their system.
In addition to that you their users can set up two-factor authentication and an additional password for trading. You can also set safety phrases that will appear in any emails from KuCoin to help protect you from phishing attacks.
It is important to know it's not clear whether the insurance policy would cover your assets against company failure. If your bank fails, FDIC insurance will normally kick in to cover up to $250,000 of losses. This is not the case with cryptocurrency exchanges.
Also, if you live in the U.S. there are additional risks in using an unregulated exchange. Authorities are clamping down on U.S. citizens using unlicensed services to prevent money laundering and tax evasion. You risk having your account frozen and not being able to access your crypto if you use an unregulated exchange.
KuCoin Account Verification
KuCoin platform implement know your customer (KYC) verification to combat facilitate combat against criminals and money laundering schemes. Nevertheless, account verification at KuCoin is entirely optional, especially if you’re a small volume trader. It means that you do not have to verify your identity to trade, however, verified users get benefits such as increased daily withdrawal limits or simplified account recovery in case of a lost password or two-factor authentication device.
KuCoin has three verification levels:
- Unverified account. It requires email verification, lets you withdraw up to 2 BTC per 24 hours.
- Verified Individual account. Requires you to submit your identity details such as ID or passport, as well as your country of residence, and increases your withdrawal limit to 100 BTC per 24 hours.
- Verified institutional account. Increases your withdrawal limit to 500 BTC per 24 hours.
Note that KuCoin, users are strongly recommended to complete verification to avoid troubles in the future. Besides, only verified users can be able to use fiat-to-crypto trading.
Kucoin P2P fiat trade
KuCoin P2P marketplace is another convenient service provided by KuCoin. Here, you can buy and sell cryptocurrencies such as USDT, BTC, ETH, PAX, and CADH directly to and from other merchants.
The P2P marketplace supports various payment methods, including PayPal, Wire transfers, Interact, and other popular payment methods using most popular fiat currencies like USD, CNY, IDR, VND, and CAD.
In order to trade using KuCoin P2P desk, you must verify your KuCoin account as I mentioned.
KuCoin Shares (KCS)
KuCoin Shares (KCS) this is coin create by kucoin is mostly used to fund the creation of the exchange.
KCS holders benefits from the following:
- Receive daily cryptocurrency dividends, which account for 50% of the collected trading fees.
- Get a trading fee discount (min. 1000 KCS for 1% discount; max 30,000 KCS for 30% discount). The system takes a snapshot of users' KCS holdings daily at 00:00 (UTC +8) to calculate the applicable discount rate.
- More trading pairs, including BTC, ETH, LTC, USDT, XRP, NEO, EOS, CS, GO.
- Experience exclusive KCS holder perks and offers.
KuCoin users earn part of the daily exchange profits by staking KCS.
Another way to earn KCS is by referring your friends. You can make up to 20% referral bonus each time your friend completes an order. You can sign up on the exchange using our KuCoin referral code: r3CB3FU.
In total, as much as 90% of KuCoin trading fees get back to the community.
Earn From KuCoin Platform
KuCoin also offers its users an ability to get some interest from their digital assets in a variety of staking and lending programs. These include:
· KuCoin Lend: Earn interest on your digital assets by lending them out for the funding of margin accounts. The loans last for either 7, 14, or 28 days, and you can earn up to 12% annualized interest rate from your holdings.
· Pool-X: Pool-X is a next-generation proof-of-stake (PoS) mining pool - an exchange designed to deliver liquidity services for staked tokens.
- Soft staking: As a part of Pool-X, soft staking lets you earn rewards for holding coins and tokens. You can get up to15% annual yield, with extremely low minimum deposits.
How to Open KuCoin Account
Go to Kucoin exchange platform in the homepage click sign up button in the upper left corner.
· Enter your email or phone number and create a strong password consisting of capital and lower-case letters and numbers.
· A code will be send to your email provided and check your email or phone for a verification code, which must be entered below, too.
· Then, check the mark that you agree with Kucoins terms of use,
· Click the next button and complete captcha, and you’re almost good to go.
· The last thing you need to do is to confirm your email address via the link send to your email inbox.
Used our Kucoin referral code is: r3CB3FU
KuCoin Customer support
You can reach Kucoin customer services via the following media:
- KuCoin Help Center
- FAQ Center
- Onsite chat
- Mobile app support
Besides, you can reach out to other KuCoin users, as well as join the exchange’s community via the following social media channels:
- Facebook (available in English, Vietnamese, Russian, Spanish, Turkish, Italian).
- Telegram (available in English, Chinese, Vietnamese, Russian, Spanish, Turkish, Italian).
- Twitter (available in English, Vietnamese, Russian, Spanish, Turkish, Italian).
- Reddit (available in English, Vietnamese, Russian, Spanish, Turkish, Italian).
- YouTube
- Medium
Using the above customer service you can reach kucoin customer support quickly and to respond with your queries within a few hours at most.
KuCoin Summary:
· The platform is now over 5year into crypto business
· Kucoin used cold storage to store most of their digital assets in order to protect themselves from hack
· Is one of the best crypto exchange that offer low trading commission fees
· Awesome graphic inter-face or user-friendly for both experienced and inexperienced traders/investors
- Is best for you if you live outside the U.S. and want to buy new or less popular cryptocurrencies.
- Is best for you if you’re an experienced cryptocurrency trader who wants access to advanced features.
- Is best for you if you want to earn interest on your
crypto stalking and understand the risks involved?
RISK DISCLAIMERS
This website includes information about cryptocurrencies, (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. knowaboutcryptocurrency.blogspot.com encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. All contents on this site is for educational, and informational purposes only and does not constitute any financial advice. Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions. Knowaboutcryptocurrency.blogspot.com may receive compensation from the brands or services mentioned on this website at no additional cost to you.
Risk Warning: Trading CFDs on leverage involves significant risk of loss to your capital.
No comments:
Post a Comment