kucoin crypto exchange

KuCoin Crypto Exchange-Understanding The Features Of KuCoin

KuCoin Crypto Exchange is a Chinese cryptocurrency exchange that, like Binance, pays out 90% of daily trading fees to token holders. To share that much money with token holders is a pretty creative way to incentivize token holders. The method is even more ingenious—each day, dividends are paying out in the form of additional tokens.

So, just owning Kucoin (KCS) tokens entitles you to daily payments in Bitcoin, Ethereum, Neo, Litecoin, and any other token listed on their market.

KuCoin, at first appearance, seems to be a great cryptocurrency trading platform for experienced and aggressive traders. Hundreds of tokens are available for trading, futures, and margin instruments. KuCoin is a good place to trade cryptocurrencies because it has low fees and many features.

kucoin crypto exchange

KuCoin Crypto Exchange For Beginners?

Even for the most novice crypto investors in the United States, numerous drawbacks make it less than ideal. Because KuCoin does not have a U.S. operating license, most crypto investors in the country are left scratching their heads.

First, KuCoin has typically not permitted U.S. investors to purchase crypto using U.S. dollars, but the exchange recently launched a function that it claims permits this, although with some hoops to jump through. In addition, there are a lot of bad customer reviews.

The “people’s exchange” label was given to KuCoin when it was first introduced in 2017. The corporation has its headquarters in Seychelles and is thus exempt from U.S. regulatory requirements.

Is KuCoin A Legit exchange?

kucoin legit

KuCoin is, indeed, a legit bitcoin exchange. KuCoin employs industry-standard encryption and provides two-factor identification. The company says that it has set up an insurance fund to pay for damage cause by hacking, like the loss caused by the attack on KuCoin’s hot wallets in 2020.

Is KuCoin A Wallet Or An Exchange?

Custodial and non-custodial services are available at KuCoin. That implies that you can either keep your crypto assets on the KuCoin exchange or link them to a third-party wallet and trade straight from there. Those who desire to maintain ownership of their crypto assets may like this choice.

Can You Legally Use KuCoin in the U.S.?

KuCoin is not legal in the united states. Because citizens may limit in terms of both their ability to withdraw and the leverage they have. Using U.S. dollars on KuCoin is trickier than on other prominent exchanges. USDT a stablecoin linked to the U.S. dollar and is the “currency” instead of the U.S. fiat money.

KuCoin cannot do business in the United States since cryptocurrency exchanges in the country are subject to stringent laws. In the United States, it may be tempting to use KuCoin without finishing the KYC verification procedure. 

There are restrictions on how much money you can remove and how much leverage you can use.

Can I Exchange On KuCoin?

According to the company, there are approximately 400 different cryptocurrencies available on KuCoin. Even though it has a wide range of options, this is still a user-friendly exchange with a simple layout. As a result, it is one of cryptocurrency’s most cost-effective trading platforms.

KuCoin’s Benefits:

  • To get access to over 500 currencies
  • You get free coins when you sign up for KuCoin (USDT).
  • The ability to put money at risk for a reward.
  • Advancements in trading options, such as futures and margin trading,
  • Charges are relatively low.

KuCoin’s disadvantages:

  • In the United States, this product is not licensed.
  • Cryptocurrency must already own U.S. investors.
  • Novice crypto investors and traders may have difficulty navigating the site.
  • Trustpilot has a lot of bad ratings.

Which Cryptocurrencies Are Available on KuCoin?

kucoin crypto exchange

 

Over 500 cryptocurrencies are available on KuCoin. It accepts a wide variety of currencies as payment, including the following:

  • Bitcoin (BTC)
  • Decentraland (MANA)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cosmos (ATOM)
  • BCH (Bitcoin Cash).
  • Solana (SOL)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Chainlink (LINK)

KuCoin’s native currency, the KuCoin (KCS), and other altcoins are available on the KuCoin network and exchange. Trades in U.S. dollar notes are based on the stablecoin Tether (USDT), which has an exchange rate tied to the greenback. 

KuCoin Fee:

KuCoin uses a tier-based structure based on the maker-taker paradigm for spot trading and futures trading. A cryptocurrency is not truly “purchased” when you use spot trading; instead, you exchange a currency you currently own for another money you want. 

In most cases, you have the option of placing a “limit” or “market” order, depending on your needs. Once the cryptocurrency achieves that price, you’re ready to buy or sell. The current price is using to execute a market order. And when you trade in futures, you can buy or sell something at a certain price and on a specific date.

The makers often get a lower fee in a maker-taker approach since they supply liquidity to the market by giving two sides of the deal. As for takers, they’re those who purchase at the current market price. You can have look at scalping and an overview of the stock market.

Advanced Features:

KuCoin provides many additional features, but you’ll have to decide whether you want to utilize them before you do. Margin trading, for example, enables you to borrow money to acquire additional cryptocurrency.

Leverage shouldn’t can use by traders who aren’t very good at what they do because it makes a bitcoin investment riskier. Here is the official link of KuCoin Exchange.

Auto Bot Trading System:

KuCoin’s mobile app also lets you employ trade bots. You don’t have to be online all the time to keep up with the market if you use trading bots to purchase and sell your cryptocurrency automatically. However, unlike Robo-advisors, crypto bots are still in their infancy. 

For example, there are certain issues with the software. It’s also not always apparent what they’re doing with your money, and you’ll have to learn about the bitcoin trading tactics they use. Bots don’t provide much value if you’re purchasing for the long run.

How to Open an account?

You may create an account on your phone or email, and the process is simple. You’re all set after entering your username and password and confirming your account with a code.

A KYC verification function requires additional evidence and an in-depth verification procedure. This is another option for verifying your identity. The greater your withdrawal advantages and trading features are, the better your account will be.

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