KuCoin has something for everyone, whether you’re a newcomer to the world of digital coins or a seasoned crypto trader searching for better rates and features.
You’ll learn everything you need to know about KuCoin, a rising star in the crypto exchange market, in this article.
What is KuCoin
KuCoin, dubbed “The People’s Exchange” by its founders, was publicly launched in September 2017 by Michael Gan and Eric Don, with headquarters in Seychelles.
The KuCoin exchange is based on the concept of openness. It offers a user-friendly and intuitive UI, for starters. It also has among the lowest transaction costs on the market, making it ideal for traders who are just getting started.
KuCoin also takes pride in providing one of the most comprehensive listings of accessible cryptocurrencies. One of the primary objectives of the exchange’s creation was to provide traders with access to lesser-known cryptocurrencies. KuCoin has around 400 coins available for trading as of this writing.
Coins
Patrons can trade as many mainstream and riskier coins as they want, as long as they don’t break KuCoin’s rules of service.
Security
KuCoin takes some initiatives to improve its security, which will be covered in more detail later. However, the exchange is still not licensed for usage in the United States, which means that if something goes wrong, the law will not protect you.
Licensing
Although it does not have a license to operate in the United States, KuCoin has good liquidity and significant trading volumes. Its minimal fees, many opportunities to generate money, and dynamic trading platform are most likely to blame.
How KuCoin operates
KuCoin allows you to purchase and sell cryptocurrencies just like any other exchange. However, compared to other prominent exchanges, you can do it at a reduced cost. You can also earn incentives and lower costs by purchasing and holding the KCS token, KuCoin’s native cryptocurrency.
KuCoin provides a variety of trading options. You can purchase and sell cryptocurrency on a normal basis, but you can also trade on leverage, in futures, or through peer-to-peer platforms.
Custodial and Non-custodial
Custodial and non-custodial bitcoin services are also available on the site. This implies you have the option of keeping your wallet or storing it on the site.
Non-custodial choices are for those who are extremely careful and only trust their bank account. KuCoin can also be connected to an offline wallet and used in the same way.
Wallets
You can alternatively keep your tokens in a crypto wallet if you prefer things to be a little more convenient. KuCoin has teamed with Onchain Custodian, a Singapore-based digital asset custody provider.
Finally, you may easily open a KuCoin account with only your email address or phone number. However, you must first authenticate your account to enjoy richer, more advanced services. Residents of the United States, in particular, may find this challenging because KuCoin is not permitted to operate in the country without a license.
For your convenience, KuCoin also provides other options such as leverage, margins, and even trading bots.
KuCoin Cryptocurrency Selection
KuCoin, as previously said, hosts a wide range of cryptocurrency tokens. It contains over 380 different crypto tokens as well as 750 different currency pairs.
These coins include well-known coins like Bitcoin and Ethereum, as well as lesser-known cryptos like Stellar (XLM), Nano (NANO), and Qtum (QTUM), which have the potential to grow in value over time.
One of the key reasons for KuCoin’s rise in popularity is its ability to access lesser-known cryptocurrency coins.
KuCoin Security
Even though certain exchange platforms offer a wonderful bargain, it’s all for naught if the platform isn’t safe.
KuCoin is a great and responsible organization when it comes to security and integrity, albeit there are a few snags.
It isn’t allowed to operate in the United States, for example. This implies that US citizens won’t be able to take advantage of all of the platform’s features, and you won’t be protected by the law if you use it on your own.
KuCoin, on the other hand, is a very responsible coin when it comes to security. For the safekeeping of its digital assets, the company worked with Onchain Custodian. It’s a Singapore-based firm that specializes in digital asset custody, and it’s backed by Lockton, the world’s largest private insurer.
This means that if you elect to store your bitcoin with KuCoin, Onchain Custodian will take care of it, giving you peace of mind from a reputable international organization.
In addition, the platform has some security features in place to avoid security breaches.
Is KuCoin worth using
KuCoin is a fantastic, beginner-friendly cryptocurrency exchange that values its reputation and security. It’s well worth checking out. People may now exchange cryptocurrencies with ease and security thanks to this site.
