Why You Should Choose KuCoin?

KuCoin

What is KuCoin?

KuCoin is a cryptocurrency exchange that offers third-party brokerage services. It was launched as recently as 2017 and has three years of trading history, but it now ranks among the largest in its field. It is also a cryptocurrency-only platform and it used to be impossible for users to deposit funds using fiat currency. The company has since formed a partnership with Simplex, which enables customers in Europe (and more countries soon) the ability of cash out crypto easily without any hassle or waiting on slow wire transfers.At KuCoin, you will find over 200 coins paired with about 450 cryptocurrency pairs. Not only does this include major trading pair like BTC/USDT and ETH/USDT but less known tokens as well. If you have an appetite to trade a less liquid ERC-20 token, chances are it’s at the exchange because of its wide selection. 

KuCoin Exchange’s Features and Products:

Trading Platform

 KuCoin’s trading platform is designed for both novice and seasoned traders. There’s no need to download or install anything on your desktop device, which you can access using a browser instead. Although the platform has a clean look and easy-to-use interface, it also has a wealth of complicated functions and tools available, allowing traders to personalize their KuCoin set-up completely. The standard KuCoin trading terminal (see the image below) provides all the necessary information for the traders to execute the orders precisely.

Trading Option

  • Spot- With a 0.1% transaction fee across all trades, KuCoin is one of the least expensive exchanges on which to trade cryptocurrencies and altcoins. Plus, their incentive system means that lower fees are even available for users who hold KCS tokens than those only holding BTC or ETH. With discounts up to 50%, this makes trading cheaper when you own more coins in your wallet at once.
  • Margin- With margin trading, Kucoin users can use other investors’ funds to increase their own capital. There are fifteen cryptocurrencies available for this function on Kucoin and KCS is one of them as well as ETH and BTC. This trading service may be utilized for both short and long positions. Remember that by borrowing money, traders may increase their potential profits; however, they also risk incurring a significant loss in comparison to the initial investment. The Kucoin exchange features 35 different pairings which can be leveraged up to 10X on average.
  • Futures- Users can trade contracts with coin margins with up to 100X leverage, for example, trading contracts up to $10,000 with as little as $100 in their account. There are two versions of Kucoin Futures trading: one for novices (light mode) and one for experienced traders (Pro mode).

KuCoin Fees:

Trading fees

The reason for KuCoin’s popularity is its low fees of 0.1 percent per trade compared to other cryptocurrency exchanges, which helps make it easier for consumers to understand the trading costs and plan accordingly. Check out the fee schedule in KuCoin app if you want more information on how exactly they calculate their fees.

Withdrawal fees

The withdrawal costs for KuCoin are the lowest in the cryptocurrency space. Every time a user withdraws BTC, it costs 0.0004 BTC. This cost is lower than the industry standard, which is why millions of people choose the exchange. The withdrawal costs are determined by the various cryptos accessible on this site. You can find more information about the fees in KuCoin app or website.

Deposit fees

KuCoin has no deposit fees. It means that it does not charge consumers for deposits or associated transactions.

Is KuCoin safe?

You can feel safe knowing that your investment is secure, KuCoin utilizes bank-level security to provide the safest environment for all transactions and account holders. Some of their techniques include micro-withdrawal wallets, multi-factor authentication, industry level multilayer encryption and a dedicated internal risk control department.

The platform of KuCoin is committed to keeping the vast majority of customer funds in cold storage. However, this does not mean that there are no hot wallets for withdrawals because they do exist and operate on the needs-basis.

To further improve security, in April 2020 KuCoin partnered with Onchain Custodian to provide support for crypto-asset storage. The partnership brings together Singaporean platform Onchain Custodian and Lockton the world’s largest private brokerage firm that will back custodial funds.

KuCoin Customer Support

Although many questions can be answered through the FAQ section, some traders may find this option unsatisfactory. For these individuals, KuCoin has an available support team that is accessible 24 hours a day 7 days per week via email and live chat options. There are no phone lines for assistance so it would probably be more efficient to contact them by one of those two methods instead if possible.

KuCoin: Pros & Cons

Pros

KuCoin features straightforward and fair fees; it is simple to use, in addition to providing excellent assistance. Furthermore, the site offers Futures and Margin Trading, as well as other ways to generate money.

  • Transparent & reasonable fees;
  • Solid customer support;
  • Ease of use;
  • Futures & Margin Trading;
  • Options for earning;
  • Native-coin (KCS) holders enjoy additional benefits and promotions.

Cons

KuCoin is not regulated; therefore, users do not have the same level of insurance that they would get with a regulated exchange.

  • Unregulated;
  • Before making a deposit with a debit/credit card, you must first authenticate your identity;
  • The platform could be challenging to navigate for novice traders.

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