KuCoin is a global cryptocurrency exchange that started in 2017 and now ranks among the top 5 crypto exchanges by volume. The platform allows trading futures and margin products using a wide selection of tokens. KuCoin is also an attractive cryptocurrency exchange due to its low cost and extensive functionality.
KuCoin’s comprehensive features, low cost, and wide variety of cryptocurrencies make it an ideal platform for experienced cryptocurrency traders as well as new ones. Here are three reasons why you should use KuCoin to buy, sell and wager your cryptos.
What is KuCoin?
In 2017, KuCoin started 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 high-yield staking (APY).
KuCoin offers the highest level of security in the industry and a selection of approximately 600 different cryptocurrencies. The platform is designed to be user-friendly for beginners, with a simplified and easy-to-learn interface, given the wide range of features 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 gives users access to 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 resulted in the current look of the platform. The update has added new features such as advanced order types and a brand new API. In 2020, the KuCoin ecosystem has grown significantly. The company’s key achievements include the launch of its EARN liquidity trading marketplace and its one-stop exchange solution, KuCloud.
In addition, 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 set KuCoin apart from other crypto platforms. It is one of the few cryptocurrency exchanges that allows US residents to open margin accounts.
Thus, clients can borrow money and use their assets to increase the return on their investments (lending crypto† When it comes to an asset that is already dangerous and has a volatile history, margin increases your ability to take risk.
KuCoin members can lend to margin traders. The interest rates and conditions differ per token. As you would expect, funding cryptocurrencies is risky. Although the loans are secured and the recipient must maintain a balance, falls in asset prices can lead to unexpected losses.
KuCoin can return borrowed coins when a user’s account falls below 97% of the loan amount. If KuCoin can’t fully reimburse you, the insurance should. Losses are not fully protected by the exchange’s terms of service.
KuCoin users can choose from a wide range of additional features. 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 don’t have to worry about keeping an eye on the market when you’re away from your computer. Purchases that are intended to be maintained for an extended period of time have minimal impact on automated bots. For this reason, you should 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
There are multiple security features available, as we have already mentioned. One of these functions is the transaction password. On the platform, this password is a brand new feature that was just added.
This measure was 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 trades, withdraw assets and build APIs.
The KuCoin exchange began using the “Know Your Customer” (KYC) method in November 2018 to protect its customers’ funds when conducting financial transactions on the platform.
As stated in the User Identity Verification Statement, KuCoin users must disclose their personal information in order to comply with industry standards. This measure has been taken to prevent the website from being used for money laundering and other forms of fraud.
There is also a maximum daily withdrawal limit of 3,000 BTC for KYC certified users. To increase their daily withdrawal limit, users must meet KYC1 and KYC2 verification standards.
In addition, KuCoin strongly recommends two-factor authentication to improve the security of your account. The system also uses Google Authenticator as an extra layer of security to protect your account and prevent 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 wouldn’t be able to access your account without your phone thanks to this extra layer of security.
3- Reduced costs
KuCoin’s transaction fees are comparable to those of other major cryptocurrency exchanges. In addition, investors may qualify for a discount based on their average monthly holdings of the platform’s original currency, KCS, or the number of transactions they made in the previous month. Customers who pay with KCS instead of another way are entitled to a 20% discount on costs.
Like the vast majority of other cryptocurrency exchanges, KuCoin has a maker-taker fee structure. This means that you will incur different costs depending on whether your order is accepted or not.
KuCoin is a cryptocurrency exchange founded in 2017 with more than ten million users and offers various trading options.
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 range of Altcoins.
KuCoin is a great place for beginners to start trading cryptocurrencies as it offers diverse cryptos and superior security.