Steemit Crypto Academy Season 5 Beginner Course - // Task 7: Dex, Cex, Popular Exchanges and Crypto Trading by @kenneth00

Image created by me @kenneth00 in canva

INTRODUCTION

Greetings to every one in steemit reading this post, I am here to submit task 7 of the steemit crypto academy introductory post given by our creative professor @imagen and i will be answering the (1st) question for task 6 on the topic "DEX, CEX, POPULAR EXCHANGES AND TRADING CRYPTOS"

1-) Choose any of the following exchanges and develop a basic guide on how to use it, indicating whether it is decentralised or centralised.
Huobi
KuCoin
Waves Dex

Since the creation of cryptocurrencies that has revolutionized the world of economy finance, not only systems have been developed that allow improving the service, but also a means of exchange where currencies are traded and being able to choose the one that best suits our requirements as a beginner or a professional.

Let's first know what an exchange is, in simple words it is nothing more than exchanging an element for another of the same value. An Exchange is a page or a web portal where investors, small or large, can make an exchange for fiat money or crypto assets, the value of the exchange depends on supply and demand and in this way they determine the cost of the asset. Having these concepts established, let's get to know this Kucoin Cryptocurrency exchange platform.

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It is a centralized platform for the exchange of cryptocurrencies, (Bitcoin, litecon Ethereun cardano among others), it allows the sell and buy of cryptocurrencies. Originally from Hong Kong, it is a platform that was developed in 2011 but launched in 2017 and had its highest growth in 2019. The platform is available 24 hours for its operations and is operational in around 197 countries.

The objective of the creation of this platform is that anyone can make use of it by providing a transparent interface and simple handling. It has its own native currency Kucoin Shares (KCS). This Exchange is available to be used on PC as well as its application on Android and IOS devices.

Image created by me @kenneth00 in canva

Its trading capacity is less than other exchenge such as Binance, however by owning the native Kucoin KCS currency, users can have a discount on currency trading as well as bet on the currency and have passive profits in addition to that if a user owns more than 6 KCS have the possibility to receive a daily bonus. Another feature of this Exchange is that it offers the Bot trading service, basically it analyzes market information and makes market forecasts, which makes it easier for those who make use of this function to trade.

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It is currently one of the main exchange platforms, has low commissions and is easy to use, in addition to not needing KYC verification to operate within the platform.

How to create a Kucoin account?

Step 1
Search for the Kucoin website

Step 2
Then locate the registration section, you can do it by phone or by mail. I made my registration through my email.

• we put the email
• We request the code that will arrive to our mail
• then a Captcha verification appears, verify
• we put the code where it says "email verification code"
• put your password to enter the portal
• Click on the "I have read and agree to the terms of use" part and register.

And that's it, we already have our Kucoin account, we can now operate on the platform.

We explore the platform a little and visit our profile where we have several options, including KYC verification, as I mentioned, this platform allows you to perform some operations without this verification but to have more advantages, the ideal is to verify yourself.

We enter the Market in Spot with respect to BTC and verify its variations such as the price and volume in the last 24 hours among others:

To Buy Crypto we go to P2P (peer to peer trade) exchange or purchase and sale from person to person and we observe some orders and if we want to buy or sell according to our requirements we can offer to the one that suits us:

When We explore the spot market and we will see what trading is like, where you can buy and sell assets where the main idea is to buy low and then sell it when it is high.

Within the platform you can also use your crypto as loans and obtain a profit for the interests

In the Buy Crypto section there is the new option to make quick purchases

Conclusion

The Kucoin exchange provides a pleasant experience, its registration is easy and basically works like any other exchange, it is expected that a not so distant future it will allow operations with fiat money, but so far it is simple to use especially for those who start in buying and selling of cryptocurrencies

The screenshot were taken from my phone and edited in the gallery app in my phone