KuCoin Crypto Exchange Review
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What Is KuCoin?
KuCoin is a Hong Kong-based cryptocurrency exchange launched in September 2017. It is a third-party exchange that allows you to buy, sell and trade various cryptocurrencies.
This exchange was created by a group of experienced business professionals who previously worked on projects such as Ant Financial and iBox PAY.
The founders' goal was to create a simple and secure platform for people around the world to easily trade a vast list of different cryptocurrencies. Also, the creators of the project aim to create a platform that will stand out among competitors with its user orientation. For example, the exchange offers a lucrative bonus program, as well as round-the-clock and prompt support. Since its launch, the KuCoin exchange has not experienced any noticeable problems, and in general, the platform does not suffer from system overloads.
Coins on KuCoin are usually added even before they appear on competing platforms. On the site you can find a list of cryptocurrencies getting ready to be listed in the near future. Currently about 200+ coins and 400 trading pairs are supported, including the most popular coins: Bitcoin, Ethereum, Litecoin, XRP, Tether, Bitcoin Cash, Bitcoin SV, EOS, Tezos, Stellar, Monero, Cardano, Tron, DASH, NEO, Ethereum Classic, ZCash, IOTA, NEM, Ontology, Cosmos, Dogecoin, Bitcoin Gold etc.
Features of KuCoin
The platform is designed with the user's needs in mind. Let's elaborate on the features of the platform, which distinguish it from other cryptocurrency exchanges.
The main feature of KuCoin is its own cryptocurrency KuCoin Shares (KCS). For owners of coins on the exchange, the developers offer a number of benefits:
The commission share is a kind of cryptocurrency cashback model, thanks to which the team successfully maintains an influx of new customers, and experts make optimistic predictions for the growth of KCS rate. KCS tokens can be purchased directly on the KuCoin exchange.
There are many other advantages that distinguish the exchange from competitors:
One of KuCoin's main goals is to provide very low trading fees. Cryptocurrency deposits are free, except for the blockchain transaction fee, which you pay for the transfer. Of course, this will depend on which cryptocurrency you use.
When you make a transaction, you only pay 0.1% of the amount spent on the purchase. For example, if you want to buy the equivalent of $1,000 worth of bitcoin, you will only pay $1. This is one of the lowest commission rates among exchanges, which is a good reason to use KuCoin.
In terms of withdrawals from the exchange, the commission depends on which cryptocurrency you want to withdraw.
How to start work with KuCoin
First, you need to register on the site KuCoin. To do this, click on the "Sign Up" button in the upper right corner to begin the registration process.
Then you need to fill in all the required fields in the registration form. Registration is possible both by phone number and e-mail
After you enter and confirm the information, you can start working with KuCoin
Individual KYC Verification On KuCoin
To trade on KuCoin exchange, you do not need to go through the mandatory verification procedure. But if you want to get more benefits when working with this crypto exchange, you have to go through verification procedure. You can see a detailed verification process in the video below
How to deposit to KuCoin
KuCoin trading platform is considered one of the easiest to use, so it is easy to deposit and withdraw funds from the exchange. To deposit, simply click the "Deposit" button in the asset menu and select the currency in which you are going to transfer money.
Once you choose a cryptocurrency, KuCoin will immediately generate you a recipient address.
Copy this address or scan the QR code and send funds to this address.
How to withdraw funds from KuCoin
Withdrawing funds is as easy and fast as depositing. To withdraw funds from your account, simply click the "Withdraw" button in the assets menu. In the window that appears, you must enter the amount of withdrawal, wallet details, code from Google Authenticator to pay for the order. The system also immediately shows the KuCoin fee for withdrawal from the exchange. As a rule, the money arrives at the destination address in 10 minutes after creating a withdrawal request.
Withdrawal and trading commissions
To make financial transactions, as well as for transactions, you will need to pay a certain percentage in favor of the site. This platform offers quite pleasant prices - you definitely will not have to pay extra money. Compared to other top sites for trading, KuCoin's commissions are even slightly lower than the market average. You will not have to pay anything at all to deposit your balance. To place a buy or sell order, you will have to pay 0.1% of the total transaction amount. There will be different fees for withdrawals, depending on what kind of coin you want to get:
Advantages and Disadvantages
KuCoin trading platform has a number of powerful characteristics necessary for successful trading, and in some aspects it is objectively inferior even to the most top exchanges.
KuCoin is an excellent platform that guarantees a high degree of protection of your assets. Transactions are fast enough, and withdrawals are almost instantaneous. The main difference between the exchange is its own blockchain and cryptocurrency KuCoin Shares. Bonuses are provided for exchange holders. It will be a good choice for beginners and experienced traders.