KuCoin is a global cryptocurrency exchange that started operating in 2017 and is now among the top 5 crypto exchanges by volume. The platform allows trading futures and margin products using a wide selection of tokens. Also, KuCoin is an attractive cryptocurrency exchange due to its low fees and extensive functionality.
KuCoin’s extensive features, low fees, and wide variety of cryptocurrencies make it an ideal platform for experienced cryptocurrency traders and new ones alike. Here are three reasons why you should use KuCoin to buy, sell and stake your cryptos.
What is KuCoin?
In 2017, KuCoin began operations as a global cryptocurrency exchange and trading platform. It now has 10 million members and various trading options for its clients. This group includes spot trading, futures trading, peer-to-peer trading, margin trading, crypto lending and staking with high returns (APY).
KuCoin offers the highest level of security in the industry and a selection of around 600 different cryptocurrencies. The platform is designed to be user-friendly for novices, with a simplified and easy-to-learn interface, given the large number of capabilities it offers. Also, the platform fees are among the lowest in the industry. KuCoin prioritizes listing lesser-known crypto tokens with significant growth potential. It also allows users to access a very large number of tokens, some of which are not as well known as other cryptocurrencies.
KuCoin has modernized its user interface by upgrading to the 2.0 platform, which has resulted in the current look of the platform. The update added new features like advanced order types and a brand new API. In 2020, the KuCoin ecosystem has grown significantly. The company’s most significant achievements include the launch of its EARN liquidity trading marketplace and its one-stop exchange solution, KuCloud.
Additionally, KuCoin announced in 2020 that its P2P cryptocurrency marketplace now supports PayPal transactions in addition to other more efficient fiat currency payment methods. Due to its global growth, KuCoin is now available in almost all countries and can be used in 17 languages.
1- A wide range of crypto products
A few unique features make KuCoin stand out from other crypto platforms. It is one of the few cryptocurrency exchanges that allow US residents to open margin accounts.
Clients can therefore borrow money and use their assets to increase the return on their investments (crypto lending). When it comes to an asset that is already dangerous and has a volatile history, margin boosts your ability to take risk.
KuCoin members can lend to margin traders. Interest rates and terms vary by token. As you might expect, funding cryptocurrencies is risky. Even though the loans are secured and the recipient must maintain a balance, asset price falls can lead to unexpected losses.
KuCoin can return loaned coins when a user’s account drops below 97% of the borrowed amount. If KuCoin cannot fully reimburse you, its insurance should. Losses are not fully protected by the terms of service of the exchange.
KuCoin users can choose from a wide variety of additional functions. But it’s up to you whether you want to use them or not. Leverage is only recommended for experienced traders, as it increases the volatility of an already volatile asset like bitcoin. Trading bots can also be used through KuCoin’s mobile app. Cryptocurrency trading bots can help you buy and sell cryptocurrency automatically.
You won’t have to worry about keeping an eye on the market when you’re away from your computer. Purchases intended to be maintained for an extended period of time have minimal influence on automated bots. For this reason, you need to know the strategies of crypto trading bots. Don’t forget that KuCoin also provides live trading charts like BTC/USDT and LUNC/USDT etc…
2- Unparalleled security
Multiple security features are available, as we have already mentioned. One of these features is the transaction password. On the platform, this password is a brand new feature that has just been added.
This measure has been taken to protect your online visibility and digital assets. Users can create their own unique trading password, which they can then use to validate platform transactions, withdraw assets, and build APIs, among other things.
The KuCoin exchange started using the “Know Your Customer” (KYC) method in November 2018 to protect its customers’ money when performing financial transactions on the platform.
As stated in the User Identity Authentication Statement, KuCoin users must disclose their personal information to comply with industry standards. This measure has been taken to prevent the website from being used for money laundering and other types of fraud.
Also, there is a maximum daily withdrawal restriction of 3,000 BTC for KYC-certified users. In order to increase their daily withdrawal limit, users must meet KYC1 and KYC2 verification standards.
Additionally, KuCoin strongly recommends two-factor authentication to enhance your account security. The system further uses Google Authenticator as an additional layer of security to protect your account and deter theft.
The KuCoin website and mobile app are now compatible with Google Authenticator. Users must enter a code sent to their phone to log in or complete a transaction. Even if someone found your password, they would be unable to access your account without your phone thanks to this extra layer of protection.
3- Reduced fees
KuCoin’s transaction fees are comparable to other major cryptocurrency exchanges. Additionally, investors can qualify for a discount based on either their average monthly holdings of the platform’s native coin, KCS, or the number of transactions they made in the previous month. Customers who pay with KCS rather than by other means are entitled to a 20% fee reduction.
Like the vast majority of other cryptocurrency exchanges, KuCoin has a maker-taker fee structure. This means that you will face different fees depending on whether your order is determined to be a taker or not.
KuCoin is a cryptocurrency exchange founded in 2017 that has over ten million users and offers various trading opportunities.
KuCoin is widely regarded as one of the most trusted cryptocurrency exchanges available today, with extensive security measures.
KuCoin stands out from other cryptocurrency platforms by offering the widest offer of Altcoins.
KuCoin is a great place for beginners to start trading cryptocurrencies as it offers diverse cryptos and superior security.