DEX, CEX, Popular Exchanges And Trading Cryptos - Steemit Crypto Academy Season 5 - Homework Post For Task 7 ; by @chiomzy810
QUESTION(№ 1)
Choose any of the following exchanges and develop a basic guide on how to use it, indicating whether it's Decentralized or centralized.
- Huobi
- Kucoin
- Wave Dex
INTRODUCTION
From the above question and the mentioned exchanges, I will basically be making use of kucoin exchange. And will also explain in details what kucoin exchange means/is.
KUCOIN EXCHANGE
Kucoin Exchange which is also known as "The People's Exchange", is a cryptocurrency exchange that is based in Singapore. It was officially launched on September 15th, 2017 by Johnny Lyn who is the Co-founder and CEO of kucoin, which has developed into one of the most popular crypto exchanges and ranks over 8million registered users across 207 countries over the world. The following contributed in the discovery; Michael Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhu, and Linda Lin.
Therefore, kucoin is a global cryptocurrency which provides list of trading options to it's million users . These include spot, future, P2P trading, margine, along side with lending and staking. Kucoin boosts to provide the most advanced level of Security and a selection of closely 400 Cryptocurrency. It is a secure cryptocurrency exchange that makes it much easier for users to buy, sell and store cryptocurrencies.
In kucoin fees, the exchange uses a charge structure which is known as a "Flat Fee" which means every kucoin spot trading transaction has a set cost of 0.1% which is lesser than the global industry average. Trader should know it that levels on trading pairs have 0.1% maker fee which is equivalent with the taker fees and do not apply to all trading pairs.
From [Coinmarketcap]( I will indicate the kucoin details like the rank, market cap, market value etc. See screenshots below!!...
Source
SIGNING UP AND STEPS ON HOW TO USE KUCOIN EXCHANGE [GUILDLINES]
Here are some leading steps on how to sign up on kucoin exchange platform. I will be taking it one step after the other.
STEP 1:
Explore their offical page by simply searching on kucoin.com, then click on it. See below I clicked on the first option displayed.
STEP 2:
Once you have click on it, it automatically takes you to their homepage, by the top right side of the page you will see the two options of log in and sign up. I'm new to the system so i will be signing up to create a kucoin account.
STEP 3:
A page will display requiring for your sign up details which includes your phone number, phone verification code and login password, the code for the verification is sent after providing your phone number. Then after filling up your details kindly click on Sign Up
STEP 4:
After you have signed up successfully you will be rewarded with a gift just as I have received.
HOW TO DEPOSIT AND WITHDRAW USING KUCOIN EXCHANGE
In this part, I will be making use of kucoin website although Kucoin also uses application, in order to get it, go to your google play store and search on Kucoin and download.
STEPS ON HOW TO DEPOSIT
STEP 1:
On the homepage that displays click on deposit then select any cryptocurrency of your choice you wish to deposit. For instance I'm depositing in Bitcoin.
STEP 2:
After that, In the page that appears, copy it's address.
There are other way of depositing in kucoin which is the P2P , and you can as well deposit by buying USDT.
STEPS ON HOW TO WITHDRAW
To enable you withdraw from kucoin, you will have to firstly click on the icon showing Asset down the page. Then click on withdraw, input the address you want to withdraw it to, select the amount of asset you wish to withdraw then click on the confirm button.
You can as well use the P2P withdrawal procedure by clicking on the Buy cryto option on the homepage to select the crypto you wish to sell, then at the next page, click on Sell. And as well USDT.
LEARN HOW TO BUY CRYPTOCURRENCIES USING KUCOIN
In order to buy cryptocyrrency, you first of all click on market, a page displays, select the crypto you wish to buy. For Example, I buying BTC/USDT. Then will now click on buy. Where the next page displays, youre meant to put the BTC you want to buy then click on buy. Note that Before any user can proceed in buying this, you make sure you have USDT in your wallet. See the below screenshot.
N|B: ALL SAMPLED SCREENSHOTS ARE FROM KUCOIN EXCHANGE source
Conclusion:
I have read and understood the topic lectured by professor @imagen and It was well detailed and learned. Knowing more about this particular homework I choose to do was really interesting as I have delivered all I have learnt. Thanks to professor @imagen for the lecture. I really appreciate it.
THANKS FOR READING!!!...