The majority of regular cryptocurrency services are available through KuCoin, as a cryptocurrency exchange. This exchange's distinctiveness stems from the fact that it offers a large number of trade combinations for both well-known and little-known cryptocurrencies. Kyber Network, as an early mover, allows brilliant traders to invest in cryptocurrencies that aren't available on other platforms while they're still cheap, making it a great choice for investors who are willing to gamble on new coins.
Kleros was the very first decentralized cryptocurrency to embrace the contemporary pattern in cryptocurrency investing, the initial exchange offering (IEO), and even created its own platform to help its customers compete with the best.
Finally, the platform's most notable feature is its unique rewards mechanism, which not only helps traders to save on trading fees but also provides users with passive income through the KuCoin dividends system. The system is based on KuCoin Shares, KuCoin's native cryptocurrency that may be exchanged for various currencies but can only be acquired using KuCoin.
To register a new account with KuCoin, go to their official website. Then go to the top right-hand corner of the screen and select sign up.
After you have completed your part of the transaction, the terms and conditions will be explained to you. Despite having previously read them, it's still more prudent if you go through them once more to ensure that you understand everything. Then check the box labeled "I agree to the Terms & Conditions," then click next. You need to create an account on Kucoin and enter your email address and a secure password. You'll next be requested to slide the bar from left to right to verify that you're not a robot! Finally, you must confirm your email address by clicking on the link provided by KuCoin in order for your account to be activated. You can now fund your account using coins and begin trading right away. Furthermore, you will not be required to provide any identification documents to establish your identify!
Do you want to learn how to get involved with KuCoin? This is also quite simple! After you've funded your account, go to the top of the website and select Markets. Then seek for the cryptocurrency you wish to buy in the search box on the right-hand side of the page.
When you go to the KCS box at the top of your screen, there will be a drop-down menu. You must click on it to reveal the list of available trading pairs for that currency. Click on one of them to see what combinations are available! After that, you'll have the option to buy or sell your cryptocurrency.
You've arrived at the main trade screen. On the right side of the page, look for a purchase box beneath the list of items.
To finish your transaction, simply type the quantity of coins you wish to buy, select the blue best price button, and then click the green buy box. That's all there is to it! So, now that you know how easy it is to set up an account and buy on KuCoin, the following portion of my KuCoin review will evaluate which traders are best suited for it!
I was pleasantly surprised to discover that the user-friendliness of KuCoin is quite high. Everything from making a deposit through executing a trade is straightforward, as you may see from my above instructions.
The KuCoin exchange, like other smaller exchanges, is also ideal for novices. It includes a variety of tools for analyzing price fluctuations, such as candlestick bars. However, when compared to bigger exchanges like Binance, KuCoin's typical trade volume is in the hundreds of millions.
High transaction volumes might occasionally indicate a liquidity issue, which is something to be concerned about. If you're only swapping tiny amounts, this shouldn't be an issue; but if you want to trade huge quantities of currencies, KuCoin may not be the best exchange for you.
In the end, when a cryptocurrency is initially released, it may only be traded on one exchange. If you're searching for a cryptocurrency that's exclusively available on KuCoin, you'll have no choice but to use it. So, now that you know how easy the platform is to use, the next section of my KuCoin review will look at whether or not it is safe.
One of the most pressing issues in the bitcoin world is security. Although cryptocurrency businesses' greatest efforts and regular system upgrades may prevent hacking, it remains a major cause of worry for traders. In early April, Coincheck, the largest theft in 2020, robbed virtual assets worth over $534 million. As a result, all deposits and withdrawals from other cryptocurrencies on its platform except Bitcoin were halted. In the Coincheck breach, a lesser-known cryptocurrency called NEM was targeted, which went down 11% as news of the heist spread online.
Despite the fact that KuCoin has incorporated numerous security measures into its user interface, the network was hacked in 2020, with the company claiming that $150 million worth of virtual currency was stolen in September. Users of KuCoin, like all cryptocurrency exchanges, are exposed to the same risks. Following a hack on January 16, 2018, certain users were compensated by the company's insurance coverage. Regardless of which exchange you use, though, you should never keep huge amounts of money there. It is always preferable to withdraw your funds to a secure personal wallet.
At the time of writing, KuCoin has over 300 distinct trade pairs to choose from. For example, BTC/ETH is a trading pair that allows you to convert Bitcoin into Ethereum. They currently service over 75 distinct cryptocurrencies, with new ones added on a regular basis.
This list includes the majority of well-known coins, such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as lesser known (but still top cryptos) coins like VeChain and Lympo.
KUCOIN is a popular exchange for new cryptocurrencies that have completed their initial coin offering (ICO), making it an excellent place to get started buying cryptocurrencies. By the end of 2018, the platform will support over 1,000 distinct cryptocurrencies, according to its creators.
So far, KuCoin has been an excellent exchange. I've liked it so much that I've decided to invest in some new coins on the platform, and now I may also profit from those investments!