KuCoin is a cryptocurrency online exchange company, founded in September, 2017 at Hong Kong, China. The exchange is said to be new but it has proven to be reliable. It supports 179 trading pairs of Cryptocurrency and it also has its own cryptocurrency called the KuCoin Shares (KCS). KuCoin can be assessed either online through their website KuCoin.com, or you can download the mobile app for both Android and IOS devices.
Trading on KuCoin
KuCoin developed their trading platform by themselves and it is fairly easy to use. Everything you need for efficient trading is available as there are trading and analysis tools to your advantage which are being managed by the popular Tradingview network.
KuCoin only allows trade between cryptocurrencies; it does not allow you to buy your cryptocurrency with any fiat currency (Money controlled by the government), which means you buy your coins with other coins. If you need to buy your coins with fiat currency, you will need to do it on another exchange before depositing it on KuCoin.
Creating an account with KuCoin is simple;
1. Visit their website at KuCoin.com
2. Click on the Sign Up link at the top right side of the page.
3. Agree to their Terms and conditions and then fill in your email and password.
4. Verify your account by the mail sent to your email and you are done.
There is a referral bonus if others sign up through your invite.
KuCoin charges a trading fee of 0.1% of the trading amount, there are no fees for depositing but there are fees for withdrawing which varies depending on the currency and withdrawal amount but these fees are relatively low compared to other crypto exchanges. KuCoin also offers about 30% discount on trading fees for those trading with KCS.
KuCoin uses AES (advanced encryption system) and 2FA (Two-Factor Authentication) for their security. These are recent security technologies; the encryption helps to authenticate the site and the 2FA is a code generating securing system, Users are required to enter a code being sent to their mobile number whenever a login is need, or when making deposits/withdrawals. So far, there have been zero records of security breach in the KuCoin security system.
KuCoin provides 24 hours support services and with their FAQ you can see related issues that they can help you with. They have active Social Media accounts on Facebook, Twitter, Google Plus and more, you can send a message to them to help you with any issue you are having.
To conclude, some people think KuCoin is a scam exchange because at times traders complain about slow response from the support and delay in trading transactions but truthfully, it is not. The problem of not being able to buy coins with fiat currency has been a major disadvantage of KuCoin compared to other exchanges but all the same, for an
exchange with less than a year in operation we have to give them credit for how well they have performed.
Hopefully, most of these issues will be erased in the future. For now, I believe KuCoin is a nice bet for cryptocurrency traders