Homework Task 7

Subject: 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

HOMEWORK

Preliminary Information

Before moving on to homework, I would like to start by giving some information about KuCoin;

I choose KuCoin exchange to answer this question. I chose this exchange because I have used this exchange before and I know how to use it.

KuCoin was founded on September 5, 2017 in Hong Kong. There is a list of cryptocurrency exchanges that are sorted according to their security, size, number of coins, and many similar features. These rankings may vary according to their characteristics. KuCoin exchange is ranked 4th on https://coinmarketcap.com and 6th on https://www.coingecko.com/.

According to Coinecko, KuCoin has 447 cryptocurrencies. But according to Coinmarketcap, KuCoin has 451 cryptocurrencies.

The withdrawal fees of the KuCoin exchange are as follows:

• Bitcoin and Ethereum: 0.0005 BTC
• Litecoin: 0.001 LTC
• NEO and GAS: Free
• Qtum and OmiseGo: 0.1 QTUM/OMG

KuCoin exchange has 24/7 technical support. They do their best to solve any of your problems as quickly as possible. KuCoin's interface is somewhat easier and more understandable than other cryptocurrency exchanges.

In addition, the KuCoin exchange has its own cryptocurrency: KuCoin Token (KCS). The total amount of KCS is 170 million units and there are 80 million KCS in circulation. The current price of KCS is 12,152 USD.

Besides all that, let's talk a little bit about the advantages of the KuCoin platform.

• The KuCoin platform has an easy and fast interface.
• KuCoin exchange is an exchange that constantly renews itself and is developing day by day thanks to the updates it receives.
• The KuCoin platform can support two million transactions per second.
• KuCoin keeps you safe thanks to an algorithm that encrypts your account and activities.
• KuCoin prevents your assets from being sold by others thanks to your trading password.

Perhaps the most interesting thing to say about KuCoin is that the KuCoin exchange describes itself as a hybrid exchange that integrates both centralized and decentralized. This means that the KuCoin exchange can incorporate both centralized and decentralized blockchain technologies and crypto assets.

The only disadvantage we can mention about the KuCoin exchange may be this. You pay separate fees for both trading and withdrawing.

How to use KuCoin?

After what we learned in the preliminary information, we had an idea about KuCoin. Let's take advantage of this idea and learn how to use the KuCoin exchange. To use KuCoin exchange, which has both centralized and decentralized features, the first thing we need to do is go to https://www.kucoin.com and create a user account.
All you need to do to create a user account is to click the Sign Up button at the top right of the page.

^{Image Source}

From the page that opens, we see how the registration is made, respectively:

^{Image Source}

• 1: We choose the phone code of our country. (For example Turkey +90)
• 2: We write our phone number
• 3: By clicking on the Send Code button, we ensure that the verification code is sent to our phone.
• 4: Here we write the code that came to our phone.
• 5: We set a password.
• 6: If someone has invited you to use KuCoin, we can enter that person's referral code here. We can leave it blank if we want.
• 7: After reading and understanding the user agreement, we click on the button that shows we accept. (Otherwise, it cannot be registered.)
• 8: We complete our registration by clicking the Sign Up button.

After registering, we will see a page like this:

^{Image Source}

We close the small tab in the middle with a cross. From the Orders button on the top right of the page, we can do the following:

^{Image Source}

• 1: Here we can see the spot orders that are currently in the process.
• 2: Here we can see the margin orders that are currently in the process.
• 3: Here we can see the futures orders that are currently in the process.
• 4: Here we can see the previous spot trade history.
• 5: Here we can see the previous margin trading history.
• 6: Here we can see the futures trade history we made earlier.

Let's get to know the features in the Assets button next to the Orders button and the features next to it:

^{Image Source}

• 1: Here we can see the value of all assets we currently own in BTC and USD.
• 2: Here we can change the language of the site.
• 3: We can check our notifications from here.
• 4: Here we can hide or make our balance visible.
• 5: Here we can download the KuCoin mobile app by scanning the QR Code with our phone or tablet.
• 6: Here our main, trading, margin and futures accounts appear. We can control what we want by clicking on it. We can also make deposits and withdrawals from our main account.
• 7: We can buy crypto assets with Credit/Debit Card by clicking this button.

By clicking the circle button next to the Assets button, we can do the following:

^{Image Source}

Account security, API management, KYC verification, referral transactions, sub-account transactions and logging out.

• In the Trading Fees section, we can control the commission we will earn by holding KCS.

I would like to briefly describe the tabs in the upper left part of the main page:

^{Image Source}

Markets: Here is a page listing all coins in general.
Buy Crypto: Here you can buy crypto money in the form of Credit/Debit Card, P2P or fast pay.
Trade: All crypto assets on the KuCoin exchange can be traded here. In addition, thanks to the trading bot, you can make a profit by trading without watching the market at any time.
Derivarives: Here, Long and Short transactions, futures transactions and leveraged tokens transactions are made.
Finance: Referral transactions, crypto lending, KCS holding and pool transactions are made here.
More: Here are sweepstakes, promotions, news and announcements, support, blog and token listings.

Now I want to show the trade page. Click on the Trade button in the upper left section and we will see a page like this:

^{Image Source}

• 1: Here we can add different parameters to analyze.
• 2: Here we can choose the time period you want to see on the chart.
• 3: You can use many analysis tools from here.
• 4: Here we can see our balance.
• 5: Here we can see the transactions and transaction history.
• 6: We can do margin and futures transactions here, but it is very risky to use these features without learning the stock market well and without strong analysis.
• 7: Here we can choose the type of trade.
• 8: We can buy and sell from this section. (I'll add one more photo.)
• 9: To be able to trade on the KuCoin exchange, we must first set a trading password. Without knowing this password, no one can transact in your account, so your assets will be better protected. If we lose this password, we can contact support.

After determining the trading password, we finally follow these steps to trade:

^{Image Source}

• 1: Here we enter the amount we want.
• 2: If we want to buy by specifying the amount of BTC instead of USDT, we enter the amount here.
• 3: If we want, we can determine the purchase amount according to the percentage of our budget.
• 4: Finally, we perform our transaction by clicking the Buy BTC button.
• 5: After filling in the required fields for the sale transaction, we press the Sell BTC button and perform our transaction.

Conclusion

As a result;

• KuCoin is both a centralized and decentralized platform. So it is a hybrid platform.
• KuCoin is one of the top 10 crypto exchanges.
• We are safe thanks to the trading password on KuCoin.
• Thanks to the trading bot, we can earn without the need to watch the screen for a long time.
• KuCoin exchange is easy to use and easy to trade.

References

• All screenshots in this presentation are from https://www.kucoin.com

CC: @imagen

by @theoxl