KuCoin is a crypto exchange that allows users to buy, sell and trade Bitcoins. The platform is also known as “The People’s Exchange” and is headquartered in Singapore. KuCoin has more than 600 different trading pairs available. Kucoin aims to create a simple, safe platform for people to use to trade a range of digital coins. They support over 300 cryptocurrencies, including the most well-known coins like Bitcoin, Dogecoin, and Etherum, and are known for listing some interesting altcoins.
KuCoin Token (KCS)
KuCoin Shares is a token that helps to support the KuCoin exchange. It pays dividends and if you hold them in your account, they will accumulate. The more KCS tokens you have, the higher your dividend payout for each cycle period (every day). When trading on the KuCoin platform with other users or converting one cryptocurrency into another, there are no transaction fees applied from both parties which means traders get 100% of their trade amount back.
The only fee taken by KuCoins is a withdrawal fee of .001 KCS per address/transaction. This doesn’t include any gas costs when withdrawing Ethereum-based cryptocurrencies including ETH and ERC20 Tokens such as OMG etc.
Kucoin is based on an ownership model, where token holders reap benefits from owning tokens through dividends as well as bonuses. In order to receive these rewards, you must hold KCS tokens in your account (including any that are earned). As such, they have no use case beyond being traded or held long-term unless used within their platform. They also offer other incentives like zero transaction costs when trading with other traders or exchanging one cryptocurrency into another; payouts every day via dividend payments which increase according to how many tokens are owned
KuCoin official app
The Kucoin app is available on both iOS and Android, with the desktop version arriving soon. The mobile app allows you to trade directly from your phone or tablet which means less time waiting around for trades to be carried out. You can also use it as an exchange wallet if you want to store your tokens there rather than externally like in a hardware device or paper wallet.
Once downloaded, the app will run as a desktop application if you want to use it that way. You can also open and close trades without having to leave the screen which is useful for traders who multitask or need immediate response times in order to make profitable trades.
You have an overview of all markets on your home window along with market orders so you know what’s trending at any given time. The Kucoin team has also added Google Tango support so you’ll be able to see prices based on how much money is invested into different cryptocurrencies and coins – this provides insight into both volume and price fluctuations.
Unique aspects of Kucoin exchange
The platform uses technology similar to Bitcoin’s Lightning Network. Arwen protocol allows users to remain in complete control of their funds. A referral program offers users to profit by getting other people to sign up for an account. Trading competitions give out rewards to the top 50 users of a given asset in terms of the trading volume around particular trading pairs, which has the ability to compete with the top 100 in the market. Another unique aspect comes in the form of security, which is similar to the Lightning Network technology in the way to keep your bitcoin funds secure at the hands of an exchange that will allow users to have more control over their funds instead of having to trust the exchange.
Disadvantages of Kucoin exchange
Kucoin is not a great option for people just getting started with cryptocurrency. It’s not as intuitive to use and it lacks a lot of the features that are needed for beginners. It also has fewer coins available than many other exchanges, so people might want to look elsewhere if they’re looking for diversity in crypto trading.
Is KuCoin exchange safe?
The site is considered one of the safest for its clients and is highly secure. It offers two-factor authentication for its users. The site has never been hacked thanks to its stellar reputation over the years. Customer support is generally strong and you can always send concerns directly to the staff. If you keep large amounts of cryptocurrency on an exchange, you need a personal wallet to get it in use. Keep your Bitcoins safe: Get a wallet for any large amounts to be taken out of the exchange as several high-profile sites have been hacked in the past. Read ourLedger Nano SandLedger Nano X reviews here.
KuCoin sign-up for a kuCoin account – process
KuCoin allows you to make a new personal account with only a phone number or email address. After that, you have to input a verification code to start trading. This is a major difference from many other exchanges, which can take weeks to identify users. KuCoin is the only crypto-only exchange in the world that is dedicated to trading Bitcoins and cryptocurrencies. It’s also a major plus for those looking to get into the market in just a few minutes.
KuCoin then requires a valid form of identification to sign up and trade. The user must send an ID document, such as their passport or driver’s license, and upload it via the app.
KuCoin Exchange Fees
Kucoin’s fees are extremely low compared to those of other cryptocurrency exchanges. Users are able to receive a 1% discount by holding KuCoin Shares. Kucoin does not offer the ability to purchase crypto with fiat Fiatomability, which is where other exchanges offer the cheapest fees. KuCoin shares can be traded at a discount rate of 30% for every 1,000 shares they hold. There is also a 30% discount on fees for every 200 shares that you sell to buy with a price of 0. To sum this up, their service fee discount level is outstanding.
KuCoin referral bonus module
The KuCoin Referral Program gives a 50% rebate on all trading fees for the lifetime of your referrals. The program also offers an additional incentive where you can earn up to 20% in commission from their trades, as long as they’re still active and using their services. This means that if one of your referrals makes 100 trades with us over the course of six months, you’ll receive at least 120%.
You will be credited when your referral places trade orders under certain currency pairs- BTC/BTC; ETH/ETH; NEO/NEO! To see how much your referral has traded click on “My Account” -> “Referrers”.
Wrapping things up
After reading this article, you should have a better understanding of KuCoin and what it has to offer. It’s an excellent site for cryptocurrency trading as well as crypto-trading education with its blog posts on how to trade cryptocurrencies and general market knowledge from experts in the field. It also offers a brand new UI design. If you’re looking for diverse coins or lower fees then there are other exchanges that might be more suitable for your needs but if quick trading is something you want then KuCoin may be right up your alley!