How to Use KuCoin Exchange?

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September 15, 2019

FrederikNielsen
29

What is KuCoin?

Today, the KuCoin cryptocurrency exchange is based in the jurisdiction of Hong Kong. A large list of promising cryptocurrencies is currently being traded on the site. The CEO and founder of the KuCoin exchange, Michael Gam, is a technical expert of the world’s largest fintech company Ant Financial.

A unique feature of the KuCoin exchange is that the exchange daily shares half of its profits with everyone who keeps an internal token on the wallet – the cryptocurrency KuCoin Shares (KCS). Also, like Binance, KuCoin takes very low commissions on transactions, and discounts are available for owners of KuCoin Shares.

In this article, we will look at how to trade on the KuCoin cryptocurrency exchange, how to replenish the balance and withdraw coins from the exchange. The limits and commissions of the platform will also be described. A review of the KuCoin crypto exchange will start with a research team.

Registration and Verification

Registration on the KuCoin exchange is extremely simple and takes place in three clicks. To register, you need:

  • Agree to the service rules
  • Specify mail and password
  • Confirm mail
  • Registration at KuCoin

And it’s all! After registration, you can immediately replenish the balance and proceed to trade on the KuCoin exchange. From November 1, 2018, the exchange imposes restrictions on withdrawal – 2 BTC per day for unverified accounts. If you will not withdraw from the exchange more than two bitcoins (or another cryptocurrency in the corresponding equivalent in BTC), then you do not need to be verified.

Also, verification may be needed if you start or withdraw fiat funds from the exchange. As stated by KuCoin management, such a function is planned in the near future.

How to deposit KuCoin balance

On any page of the Exchange website, you need to click on the “Dollar” button in the upper right corner and a window will open with a choice of cryptocurrencies that are on the site. In this window, you should click on the “Deposit” button opposite the desired coin that you plan to add to the exchange.

Then another window will open in which you are informed that if you make a mistake when sending coins to the stock exchange, for example, send the wrong currency or send coins to the wrong wallet address, it will be impossible to recover the lost funds. After you confirm that you understand the risks, there will be another window where you will see the address of the purse to replenish.

KuCloin limits and commissions

Commission on transactions on the Kukoin exchange is only 0.1%. This is less than most popular cryptocurrency exchanges. In addition, part of the commission can be redeemed by the KCS token.

Also on the stock exchange established fees for the withdrawal of cryptocurrency. For each coin, the commission is different, for example for BTC it is 0.001, and for EOS cryptocurrency the size will be 0.5. A complete list of current commission rates can be found here.

https://www.youtube.com/watch?v=GHSLV2lVQo0

Cryptocurrency KuCoin Shares (KCS)

Like the Binance Exchange, KuCoin created their own cryptocurrency, which is actively developed and promoted among users. Investors who hold KCS on the stock exchange’s balance sheet receive a discount on the percentage of commission on trade transactions. Also, the KuCoin exchange daily shares with all the owners of the KCS token its profit from transactions. 50% of the total daily profit is distributed among the owners of the KCS coin, depending on the amount of investment. The calculator for calculating profitability is here.

Conclusion

The KuCoin cryptocurrency exchange is a modern secure platform for trading and exchanging digital currencies. The management of the exchange is actively developing the platform and is looking for new ways to attract users by offering new points of interaction. The exchange is translated into ten languages and has a good reputation in the cryptocurrency community.

KuCoin Shares internal token (KCS) allows you to receive passive income as a percentage of the exchange profits. This trading platform has its own working mobile applications, which are a priority for management. In general, the KuCoin Exchange is a progressive, reliable trading platform that is continuously evolving and takes into account the opinions of users.

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Frederik Nielsen
Frederik Nielsen

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.

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