What is KuCoin
What is KuCoin?
KuCoin is a cryptocurrency exchange that was founded by Johnny Lyu in September 2017. It is based in Hong Kong and has offices in Singapore, the Philippines, and Thailand. The KuCoin Exchange offers a wide range of features and services to its users. KuCoin Currently operates in over 200+ countries. including Singapore.United Kingdom, Russia, Australia, India, and Germany.
Kucoin also has its own native token, called Kucoin Shares (KCS), which allows holders to receive rewards for trading on the platform.
One of the most popular features of the KuCoin Exchange is its low fees. The exchange charges a 0.1% fee on all trades. This is much lower than the fees charged by other exchanges. The KuCoin Exchange also offers a referral program that gives users a discount on trading fees if they refer other users to.
Supported Cryptocurrencies
Kucoin is a cryptocurrency exchange that offers a wide variety of digital assets. There are currently over 700+ different types of cryptocurrency tokens available on the Kucoin platform. Kucoin also offers a variety of features, such as margin trading, staking, and spot trading.
Here’s a some Most Popular cryptocurrencies that are currently available on KuCoin:
BTC
ETH
BNB
XRP
SOL
ADA
DOT
DOGE
SHIB
TRX
LINK
MATIC
Trading Platforms
There are two main types of trading platforms on Kucoin: the Basic trading platform and the Advanced trading platform. Both the Basic and Advanced trading platforms allow users to trade a variety of cryptocurrencies. Kucoin also offers a mobile app, which is available for both Android and iOS devices. The mobile app is similar to the Website trading platform, but it has a few extra features, such as fingerprint login and push notifications.
Basic Trading Platform:
The Basic trading platform is designed for users who are new to cryptocurrency trading. It is very user-friendly and easy to use.
Advanced trading platform:
The Advanced trading platform is designed for more experienced traders. It has more features and tools, P2P fiat trading, staking, spot trading, lending, crypto derivatives, and margin trading. but it can be more complicated to use.
KuCoin mobile app vs KuCoin web
trading with KuCoin, the desktop, and mobile apps is a much more seamless experience. Web mode will default to light mode while your mobile will default to dark mode.
The desktop album has a different layout with all the options listed on the left. Among these, you have Home, Markets, Trade, Futures, and Assets. On your mobile device (iOS), there are five tabs at the bottom of your screen with various selections.
How to deposit USDT on Kucoin
If you're looking to deposit USDT on Kucoin, there are a few things you need to know. First off, USDT is a stable coin that is pegged to the US Dollar, so its value doesn't fluctuate like other cryptocurrencies. This makes it a popular choice for traders who want to avoid volatility.
To deposit USDT on Kucoin, you'll first need to have some USDT in your wallet. If you don't have any, you can purchase it on an exchange like Binance. Once you have your USDT, simply send it to your Kucoin wallet address.
Once your USDT is in your Kucoin wallet, you can start trading! USDT is a popular choice for trading pairs with other cryptocurrencies, so you should have no trouble finding a good market to trade in.
How to use KuCoin Fiat on-ramping feature
If you're looking for an easy way to buy cryptocurrency with fiat currency, Kucoin's Fiat on-ramping feature is a great option. Here's a quick guide on how to use it:
1. Go to the Kucoin website and sign up for an account
2. Once you're logged in, go to the "Assets" page and click on the "Fiat" tab.
3. Select the currency you want to use to buy cryptocurrency (USD, EUR, GBP, etc.) and the amount you want to spend.
4. Enter your wallet address for the cryptocurrency you want to receive (this can be found in the "Deposit" section of the assets page).
5. Click on the "Buy Now" button and your transaction will be processed instantly
Trading options on Kucoin
There are 4 types of trading options available on Kucoin, and each one has its own set of benefits and drawbacks. Here, we'll take a look at the different types of trading options on Kucoin, and what they have to offer.
Spot
Futures
Margin
Spot Trading
This is the most simple and straightforward option, allowing you to buy and sell cryptocurrencies at their market prices. KuCoin spot trading has a set cost of 0.1 percent, which is lower than the worldwide industry average.
Futures Trading
This is a more advanced option that allows you to trade contracts for future delivery of a cryptocurrency at a set price. This can be used to hedge against price fluctuations or speculate on the future direction of the market.
Margin Trading
This option allows you to trade with leverage, giving you the ability to amplify your gains (or losses). Note that margin trading is only available in certain markets.
Kucoin Fees
If you're looking to trade on Kucoin, you must know what fees you'll be charged. We'll break down the different types of fees charged by Kucoin, as well as how they compare to other exchanges.
We'll start with trading fees. Kucoin charges a 0.1% fee on all trades. This is lower than the industry average of 0.25%, making Kucoin a very competitive option for traders.
Next, we'll take a look at deposit fees. Kucoin does not charge any fees for deposits made in Bitcoin, Ethereum, Litecoin, or NEO. For other currencies, there may be a small network fee required in order for the deposit to be processed.
Finally, we'll discuss withdrawal fees. Kucoin charges a flat fee of 0.0005 BTC for Bitcoin withdrawals and 0.01 ETH for Ethereum withdrawals. These fees are significantly lower than those charged by most other exchanges.
All in all, Kucoin is a very affordable option for those looking to trade cryptocurrencies. Their low fees make them especially attractive to high-volume traders.
Withdrawal Fees:
BTC: 0.001
ETH: 0.01
LTC: 0.001
NEO: FREE
QTUM: 0.1
SNT: 10
KNC: 0.5
BTM: 5
USDT: 30
Deposit Fees:
BTC: 0%
ETH: 0%
LTC: 0%
NEO: 0%
QTUM: 0%
SNT: 0%
KNC: 0%
BTM: 0%
Kucoin Security Model
The Kucoin Security Model is designed to protect user assets and data. Kucoin takes a number of security measures, including 2-factor authentication, encrypted wallets, and regular security audits.
2-factor authentication is an important security measure that requires users to confirm their identity with a second factor, typically via a code sent to their mobile device. This makes it much harder for hackers to gain access to user accounts.
Encrypted wallets are another important security measure. Kucoin uses both hot and cold wallets, with the majority of user funds stored in cold wallets that are not connected to the internet. This reduces the risk of hacking and theft.
Finally, Kucoin regularly conducts security audits to ensure that its platform and systems are secure. These audits help to identify any potential weaknesses and ensure that they are addressed in a timely manner.
Kucoin Wallets
When it comes to the security of your Kucoin account, there are a few different things to consider. First and foremost, you'll want to make sure that you're using a strong and unique password for your account. You'll also want to enable two-factor authentication (2FA) if possible, as this adds an extra layer of security to your account. Finally, it's always a good idea to keep an eye on your account activity and monitor for any suspicious activity. If you see anything that looks out of the ordinary, be sure to contact Kucoin support right away.
Pros & Cons
Pros:
Decentralized exchange with high liquidity
Low trading fees
Fast transaction speeds
Supports a large number of altcoins
No verification – anonymous trading
Cons:
Not licensed in the United States
U.S.-based investors need to have crypto already
Difficult to navigate for new crypto investors and traders
Conclusion
Overall, Kucoin is a great choice for those looking for an altcoin exchange. The fees are reasonable and the selection of coins is excellent. The only downside somehow complex interface. However, these are minor inconveniences that are more than made up for by the benefits of using Kucoin.