In the fast-paced world of cryptocurrency, KuCoin has emerged as a leading exchange platform catering to newbies and seasoned traders. Having robust security measures, an extensive range of cryptocurrencies, and a user-friendly interface, KuCoin provides a seamless trading experience.
We review the platform’s features, including its trading options and unique offerings.
KuCoin Overview
KuCoin is a prominent cryptocurrency exchange catering to new and experienced traders. With robust security measures, a wide range of supported cryptocurrencies, and a user-friendly interface, KuCoin provides a seamless trading experience.
The platform offers various trading options and unique features, including spot trading, margin trading, futures trading, crypto lending, and peer-to-peer trading. Additionally, KuCoin supports multiple payment methods and provides a convenient mobile app for online trading.
Official website | www.kucoin.com |
Location | Singapore |
Founded | 2017 |
Native Token | Yes (KCS) |
Listed Cryptocurrencies | 600+ |
Trading pairs | 1000+ |
Minimum Deposit | No |
Withdrawal fees | It depends on the currency involved. |
Pros and Cons of KuCoin Exchange
Pros
- Supports over 600 cryptocurrencies.
- Has multiple payment methods.
- Supports the exchange of fiat to crypto and vice-versa.
- Easy to download the mobile app for Android and iOS devices.
- Availability of micro withdrawal wallets.
- Lower trading fees.
Cons
- They are not licensed in some countries, including the US.
- It has poor user reviews.
- They have limited educational resources.
- It has limited payment methods.
What is KuCoin Exchange?
KuCoin is a prominent cryptocurrency exchange that allows users to buy, sell, and trade crypto. However, its services are not limited to buying, selling, or exchanging crypto tokens for altcoins or fiat legal tender.
Its operation and mechanism aim to provide users with safe and convenient digital asset transaction and exchange services. It does so while integrating premium assets worldwide and constructing state-of-the-art transaction platforms.
The exchange’s collection of supported cryptocurrencies and fiat currencies is quite impressive. Additionally, the platform offers multiple auto-trading and financial tools like trading bots and crypto lending. As such, it becomes a preferred exchange for passive earnings.
KuCoin is a convenient option accessible from most countries. However, KuCoin is not allowed to operate in the US.
Cryptocurrencies Available
KuCoin provides users with the opportunity to purchase, sell, and trade more than 700 different cryptocurrencies. Individuals seeking a diverse range of assets might find value in the offerings provided by this exchange. Here is a sampling of some of the cryptocurrencies presently accessible on KuCoin:
KuCoin Products and Services
KuCoin Exchange has a wide range of products and services, from trading crypto-assets and derivatives to lending crypto tokens. We explore these features.
1. Spot Trading
This feature instantly lets users buy and sell cryptocurrencies for a spot exchange rate. KuCoin has a fixed trading fee of 0.1% for makers or takers, which is an excellent reason to use KuCoin.
2. Margin Trading
Introduced in 2019, the feature enables traders to use the crypto tokens of other traders to acquire a higher capital amount for leverage positions. In the exchange, the crypto tokens used for this type of trading on KuCoin include (KCS), BTC, and ETH. This feature is ideal for long and short-trading positions, which offers up to 10x leverage.
3. Futures Trading
KuCon futures trading or contract trading service allows users to buy and sell the asset’s future standard contracts. The buyer orders a crypto asset for a particular price and time (future), while the seller must deliver the asset at the agreed-upon time and price. KuCoin supports margin trading with up to 100x leverage.
With such high leverage, traders can trade contracts worth more than the trading funds in their accounts. Some of the popularly traded contracts include BTC and USDT.
4. Crypto Lending
Crypto lending in the exchange allows investors to loan their crypto tokens for a specific interest rate. With this feature, investors can loan digital tokens to other users for margin trading. The loan tenure ranges from 7-28 days, where lenders can earn up to 12% interest.
5. KuCoin P2P
KuCoin peer-to-peer trading enables investors to move cryptocurrencies from their KuCoin accounts to other users’ accounts without going through a broker or financial institution.
Users can buy and sell crypto coins like BTC, ETH, LTC, etc., through KuCoin’s P2P marketplace.
Trading Experience
KuCoin offers its users the convenience of accessing their accounts through an online portal or mobile apps compatible with Android and iOS devices. Both the desktop site and mobile applications provide a plethora of features and tools for users to utilize.
KuCoin users can easily navigate and explore various functionalities. They may include viewing market information, purchasing cryptocurrencies, engaging in trading activities, lending digital assets, etc. The platform supports four types of orders: market, limit, stop-limit, and stop-market orders. Furthermore, KuCoin supports staking, allowing users to earn rewards, and has recently introduced a Trading Bot feature that acts as a robo-advisor, simplifying the trading process by managing users’ cryptocurrency portfolios.
Security
KuCoin provides KYC verification and standard security measures. However, it experienced a significant hack in 2020, resulting in more than $280 million worth of cryptocurrency theft from users’ hot wallets.
Moreover, besides features like multi-factor authentication and encryption, KuCoin offers an extra trading password for users. This password is separate from their regular login credentials and is mandatory for conducting trades or withdrawing assets. This unique feature adds a layer of protection not commonly found in other cryptocurrency exchanges.
Takeaway
KuCoin is a prominent cryptocurrency exchange known for its robust security measures, extensive range of supported cryptocurrencies, and user-friendly interface. The platform offers various trading options, including spot trading, margin trading, futures trading, crypto lending, and peer-to-peer trading. It supports over 600 cryptocurrencies and provides multiple payment methods.
Overall, KuCoin caters to both newbies and experienced traders and provides a range of features and tools for seamless cryptocurrency trading.