This is a cryptocurrency exchange that operates on a crypto-to-crypto basis. Kucoin was established in Hong Kong in 2017. This KuCoin exchange review will provide you with all the ins and outs.
Rating: 4.5 / 5
- This exchange is easy to make use of
- The exchange offers users with KCS tokens promotions
- Competitive trading fees
- There is no transaction limit
- Users are not required to verify their personal information
- It is a new exchange
This Hong Kong-based cryptocurrency exchange has gained popularity because of its Kucoin Shares (KCS) a reward currency. Also, the number of cryptocurrencies that this exchange supports makes it stand out from other exchanges. Since its launch, this exchange has been referred to as an “early adopter” which means that users hoping to buy coins while they are still very cheap might want to consider using this exchange. Powered by a system called “TradingView”, the Kucoin exchange is capable of offering users a useful charting package. This package has been designed to ensure that the needs of focused traders are catered for.
When it comes to transaction fees, the Kucoin exchange charges less when compared to others. Launched in 2017, the developers of this exchange are keen on making it one of the top 10 exchanges in the world. To do this, the developers have set out a plan which is that of attracting new customers all over the world, reward users or customers for trading, as well as offering users an easy to use the exchange. This plan is working as planned as Kucoin is currently one of the top crypto exchanges in the world.
Like some exchanges, the Kucoin exchange has its native token, the KCS token. Users can receive huge rewards for simply holding these tokens and also receive discounts for all trading fees. Interestingly, users who hold the KCS token stand to receive dividends from the trading or transaction fees that are collected on the platform.
The rewards and dividend system of the Kucoin exchange distinguishes it from the other exchanges available in the crypto market. To explain better, users that hold about 1,000 or more KCS tokens will not only receive discounts on all trading or transactions that are carried out, but they also get passive income on a daily basis. Although this token may be exchanged for other tokens, it can only be bought on the Kucoin exchange.
KuCoin Exchange Fees (Payment Methods)
On the Kucoin exchange, there are no deposit fees other than what users will be required to pay for the transfer of a particular cryptocurrency. On the Kucoin exchange there is a flat rate of 0.1% on all transactions that is carried out. The discounts users stand to gain are not included in this rate.
When to comes to withdrawals, the value may differ depending on the digital currency that is to be withdrawn. Withdrawing most currencies on the exchange is free, while you will be required to pay a substantial amount for other currencies. Users can make purchases on this exchange with their credit/ debit cards.
This exchange is considered one of the most secure exchanges. This is because of the reliable nature of this exchange and the team of developers. The team behind this exchange has built a community on trust by simply focusing of customer service.
For the security of the account of users, the 2-step authentication system has been integrated. This system will require users to input certain codes before they carry out an transaction on the site. For additional security, Bank-level encryption is deployed on all transactions to be carried out. The exchange is reliable and has not been hacked.
How To Use The Exchange
To make use of this exchange, you will have to create an account. To do this, you have to follow these steps;
Step 1: when compared to other exchanges, Kucoin has one of the simplest and precise signup procedures. The exchange makes the Know-Your-Customer (KYC) validation policy optional. This means that users will have to decide to verify their personal information or not.
Step 2: users will have to secure their accounts. The Kucoin exchange offers users the opportunity to install the Google Authenticator system for further security. Users can decide to validate their personal information or not.
Step 3: fund their accounts. Users will have to click on the “Deposit” button which is found on the label at the left. You will be required to choose a cryptocurrency you want to fund your account with.
Step 4: once you have successfully funded your account, you can then begin buying and selling cryptocurrencies. To buy coins, users will have to click on the “buy” option.
This exchange is designed in such a way that users with little or no knowledge of cryptocurrencies and exchanges can conveniently make use of it. Unlike most exchanges, Kucoin keeps most of the detailed chart information hidden unless users need it. This feature creates an inviting atmosphere for new customers.
The Kucoin exchange supports the buying and selling of these currencies;
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Steemit (STEEM)
- NEO (NEO)
- Cardano (ADA)
- Tron (TRX)
- Ripple (XRP)
- Litecoin (LTC) and over 50 more cryptocurrencies.
KuCoin Exchange app
The KuCoin exchange app is avaiable through the following means:
- Android (beta app)
- IOS (beta app)
- Mobile browser
The KuCoin exchange app has been designed to be mobile friendly. This means that new and professional traders can easily make use of it. See the image below for a brief overview of the mobile application.
The development team behind this exchange is currently banking on an active customer support team. Several avenues to reach the customer support team have been deployed by the development team. The customer service team is made accessible to all and they pride themselves as being able to respond and resolve user complaints as soon as possible.
Aside from resolving issues and answering questions, the customer support team also listens to suggestions on how best they can operate to ensure that the needs of customers are catered for. They do not have a chatroom.
Although the KuCoin exchange is new to the crypto sphere, it has shown great potential that it is ready to compete for the top position. The low trading fees, the user interface, and active customer support team has placed the exchange on the path to success. Also, this exchange has been recommended for first-time crypto traders. This exchange is one that can be recommended to both first-time and professional traders. It has been designed with certain amazing features that would help them trade better.
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