Although, it’s only been 2 years since its inception, so far KuCoin has earned a positive feedback in terms of delivering performance, trust and reliability – all key aspects of great cryptocurrency trading. You can access the platform through the website as well as download their apps on iOS and Android.
This exceptional performance has propelled KuCoin to become a respectable player in the early running with 24-hour trading volumes exceeding $30 million.
How to Sign Up On KuCoin
Registering with the service is quite straightforward. Go to the site’s home page and hit the sign-up button on the top right corner. Agree to the terms and provide your email address and password. Once you’re through these steps, you will need to verify your account by clicking on the link sent to your registered email address.
KuCoin doesn’t require any identity verification so you can trade anonymously. However, it’s recommended that you enable two-factor authentication right way to add another safety cushion, especially if you are a new trader.
How to Buy Bitcoin & Payment Methods
Currently, KuCoin doesn’t have the option to purchase cryptocurrency with fiat money. It means that you’ll need another cryptocurrency to start trading. If you’re new to this, just go to Coinbase and buy yourself a popular currency like Ethereum or Bitcoin where you can use your conventional payment methods such as wire transfer or debit card. Then you can transfer the currency to your KuCoin account.
Buying on KuCoin is quick and convenient, thanks to a user-friendly platform. All you have to do is sign into your account and click on Markets and search for the currency you are looking to buy. You will be shown all the available trading pairs for the currency you want to purchase.
Once you’ve selected a pair, the system will lead you to the main trading screen where you can enter the number of crypto coins you want to buy. Then click on the best price option and complete the trade by tapping the green buy box. You are done!
Trading Fee & Charges
KuCoin Shares or KCS is the proprietary currency of the KuCoin platform enabling holders to benefit from the exchange’s success. KuCoin considers the magnitude of currency KCS users own at the time of coin distribution. The trading fee for KCS holders is discounted to 0.1% and withdrawal fee is also comparatively lower.
KuCoin brings you a straightforward and quite affordable fee structure. You don’t get charged anything on the deposit while the trading fee is only 0.1% depending on the crypto asset you are buying with the exception of GGC pairs where KuCoin charges 0.25%. Complete fee structure is as follows.
|Tier||Past 30-Day Trading Volume X（BTC）||KCS Balance Y (KCS)||Maker||Taker|
|1||Y < 1000||0.10%||0.10%|
|2||1000 ≤ Y < 10000||0.07%||0.10%|
|3||300 ≤ X < 500||10000 ≤ Y < 20000||0.065%||0.10%|
|4||500 ≤ X < 1000||20000 ≤ Y < 30000||0.0575%||0.07%|
|5||1000 ≤ X < 2000||30000 ≤ Y < 45000||0.05%||0.07%|
|6||2000 ≤ X < 3000||45000 ≤ Y < 65000||0.0425%||0.06%|
|7||3000 ≤ X < 5000||65000 ≤ Y < 85000||0.035%||0.06%|
|8||5000 ≤ X < 10000||85000 ≤ Y < 110000||0.0275%||0.05%|
|9||10000 ≤ X < 20000||110000 ≤ Y < 150000||0.02%||0.04%|
|10||20000 ≤ X||150000 ≤ Y||0.0125%||0.03%|
Withdrawal fees depends on the currency and is adjusted in accordance with the market performance. For example, withdrawal fee for bitcoin and Ethereum is 0.0005 and 0.01 respectively while for Neo, it’s free.
Safety & Security
Wallets on KuCoin platform feature a variety of security initiatives to ensure maximum safety. A private network is purpose built using AWS to store micro-withdrawal wallets allowing them to use the firewall. Wallet documentation comes with industry-level multilayered encryption. On the other hand, macro wallets are stored with a financial institution.
KuCoin is built from the ground up using financing level standards which includes encryption protocol to protect data transfer. This means that all the sensitive user data is stored with bank level data encryption. The system also offers two-factor authentication for additional safety.
KuCoin has emerged as one of the leading cryptocurrency platforms in the last 2 years despite being a new player. However, it still has some way to go to substantiate long term reliability and trust.
|Pros of KuCoin||Cons of KuCoin|
|• User friendly and intuitive interface||• Lacks long term legacy of other platforms|
|• Many early phase listings||• No fiat currency payment method|
|•Simple and affordable fee s tructure||• No leveraged trading|
|• Good customer service|