Basic guide on using Ku-coin - Steemit Crypto Academy Season 4 - Homework Post for Task 7

in SteemitCryptoAcademy3 years ago


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Here is my homework post for Steemit Crypto Academy beginners fixed course task 7 by prof @imagen with the question;

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

kuCoin exchange


Kucoin exchange is a centralised Cryptocurrency exchange known worldwide as a top notch exchange which is user friendly with a low transaction fee. It was established in 2017 by Michael Gan and Eric Don who located their headquartered in Singapore. They have a 24 hour customer service responsing to people questions and problems to provide the best service.

Kucoin exchange has a website and a mobile application for easy of their user. Centralised Cryptocurrency exchange most time offer low transaction fee with high withdrawal fee but Kucoin Offers a low withdrawal fee. They also do not make know your customer (kyc) compusory like most other exchange but instead they put some limit to the transaction a user can do without a kyc verification.

Kucoin exchange did an initial coin offering for their own token in 2017, the name of the token is Kucoin shares (kcs). Kcs is used as a utility on the Kucoin exchange and more power will come to the token as they plan for a decentralized exchange with the help of their own network called kuchain.

Basic guide on Kucoin

To register a Kucoin account visit the website here or on the mobile application, then click on the options icon on the upper left concer. Now click sign up to fill in the required details. You can sign up using either your mobile number or a Email. Input the phone and request for a verification code then proceed to input a password. Below are screenshot for the process.

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After that I strongly recommend that you download the mobile application with the link here for easier navigation of Kucoin exchange.

Below are the details of some of the function on the mobile application and their functions just to serve as a guide on the Kucoin exchange.below is a table of the icon On the home page and their function in simple English, we have ;

Optionsfunction
Search buttonTo search for coin pairs available for trading
New outletTo get update from Kucoin exchange
Profile optionson the top left side, to login into the application
Bell iconTo view messages from all notifications on the application
Buy cryptoFor transaction with local currency including the p2p
Community buttonAccess to link for all their social media pages
Crypto lendingTo get to borrow token
StakingAccess to earn by staking options
Top gain/ top loserindicating the best gaining and best losing pair of coin on the exchange
Market buttonTo access the details of pair of coin available on the exchange
Trade buttonTo access where transaction take place
Future Buttonto access where future trading takes place
Asset buttonTo access the wallet on the exchange.

Below is a screenshot indicating those button in order.


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Conclusion

Kucoin exchange has been since it's was created having over five million user and about 100 million volume of transaction per 24 hours, increasing pair of token on the exchange by analysis the project and consideration from their users opinion. The management of the company is the reason why it is classified as a centralised Cryptocurrency exchange.

NOTE: All screenshot in my post where taken from the Kucoin site and Mobile application.

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