KUCOIN EXCHANGE | REVIEWING ONE OF THE MOST POPULAR CRYPTOCURRENCY EXCHANGES
KuCoin is among the most popular exchanges in the world if we have in terms of the average volume of operations carried out per day and the average level of users.
This exchange platform began operating in 2017 and accepts users from more than 100 countries. KuCoin's interface is simple and fast, with quality technical support and customer service. Plus, they have one of the largest business communities in the industry.
After knowing this data, we are going to see how KuCoin works and some of its main features. We hope it helps you!
How to register in KuCoin?
In order to access the exchange platform, the first thing you must do is open an account in KuCoin. It is important to note that users do not have to go through a KYC verification when registering (this step is done later). This process is used to unlock additional features like increased withdrawal limits and more.
KYC (Know Your Customer) is a process by which a company identifies and verifies the identity of a customer. The term is also used to refer to banking regulations and anti-money laundering.
When you get to the Exchange home page, you should look for a red button in the upper right corner and register by entering the data in the form that will appear on the screen.
The platform allows you to register by entering a telephone number or an email address, but in both cases the data entered must be valid since you will have to verify your account with the code you receive.
Once the form is filled out, you will have the basic account configured and you will be able to view the characteristics of the platform, as well as start depositing and operating. However, you should be aware that it is important to take some additional measures to increase the security of your account. To do this, go to the "Account security" tab and carry out the following actions.
Set up an authenticated two-factor 2FA
Check email or phone
Set a business password
Set up security phrases for email, login and withdrawal.
You can also restrict the login IP, which is recommended if you have a balance greater than 0.1 BTC.
Without a KYC verification you can withdraw up to 5 BTC per day. If you want to increase this limit, you must verify your personal information. The process is fairly quick and easy to follow.
Once all these steps are completed you can start trading cryptocurrencies, but first, you will have to deposit funds.
Deposit money in KuCoin
KuCoin brings together all the different types of accounts in one comprehensive panel, and it's easy to transfer funds from one to another. However, to deposit and withdraw, you must use your main account tab.
As you will discover in the interface, on the right side of each asset there are options to deposit, withdraw, transfer and loan.
Once you click deposit, you will see the address to which you need to send funds. This address is that of your main account at KuCoin. Once you have deposited the funds at the address, you must transfer them to your "Trading Account" by clicking on the "transfer" button.
To withdraw you must follow the same steps, but in reverse.
Once you have deposited and transferred the funds to your trading account, you are ready to start trading.
Trade with KuCoin
The moment you access the exchange, you will need to enter your trading password in the lower right corner. This is an additional security measure, so we mentioned that it would be a good way to protect the account when setting it up.
KuCoin's interface is elegant and easy to use. It has a chart that is displayed on the main panel and at the top you can add your favorite trading pairs. On the right side, there is the order book, and just below it you can see the different types of order that you can open.
Just below the chart, you have your positions dashboard, where you can monitor how your trades are going.
In order to open a position, users have two options: a limit order and a market order.
What is a limit order?
Limit orders are used when you want to purchase cryptocurrencies at a specific price.
To place a limit order, you must specify the price at which you want to buy or sell.
What is a market order?
This is the basic order type, and it is used to buy cryptocurrencies at the current price.
It is worth noting that KuCoin also supports Stop Limit and Stop Market orders - they are used to set Stop Loss and Take Profit limits which are particularly useful if you want to actively trade.
Future of KuCoin
For those looking to trade with leverage, the Exchange has a futures contracts platform called KuCoin Futures.
This platform allows users to open positions with a leverage of up to 100 times on some contracts. It is worth noting that leveraged trading carries higher risk, due to which you can make a greater profit, and is recommended only to experienced traders. If you want to know more about leverage, access from here.
KuCoin Token (KCS)
KuCoin Token is the native token of the Exchange and was launched in 2017. Mainly, it is a profit-sharing cryptocurrency issued in Ethereum's ERC20 protocol standard, compatible with most Ethereum wallets.
Token holders receive 50% of total trading commission income. Perhaps that is why the token was initially known as KuCoin Shares.
KCS 'total supply is set at 200 million, but the company will make a planned buyback and continue to burn tokens until 100 million remain.
KuCoin fees
One of the most important things to consider when choosing a cryptocurrency exchange is the platform's fees.
Fortunately, the KuCoin fee structure is pretty straightforward. For trading, the platform charges:
0.1% manufacturer fee
Policyholder fee of 0.1%
Depositing in KuCoin is free, but there are fairly standard withdrawal fees, and its value in USD will depend on the current market price of the asset you want to withdraw.
KuCoin Customer Support
KuCoin is among the largest currency exchange platforms on the market. For this reason, you have a team dedicated to handling a different variety of problems.
In addition to containing an extensive FAQ section, users can submit a ticket or chat online with a KuCoin customer representative.
The online section is the most immediate way to handle problems as most of the time you are likely to get a response in the first few minutes.
In addition, the Exchange has also launched a technical support section with a different email where users can request technical support regarding a wide variety of problems, such as API problems, network failures, etc.
Conclusion
KuCoin is considered a secure exchange platform. In fact, it is one of the most reliable exchanges on the market.
It has a large international platform and is governed by multiple regulatory frameworks in countries around the world.
It's not easy to find the right crypto exchange for you.
https://aicrypto.vip/how-do-i-find-the-best-crypto-exchange/
But you are right. Kucoin is a good one, and you can use it even without KYC.