KuCoin is a crypto trading platform that is available in 200 countries of operation. Although experienced traders may enjoy a few of the capabilities of KuCoin, the fact is that it is not regulated in the United States and has received negative customer feedback. KuCoin allows customers to invest in and exchange over 600 crypto coins. Those seeking a diverse range of assets may benefit from this platform. There are a number of pros and cons that determine whether you should use KuCoin for trading or not. In this post, you are going to see them. Let us get started.
Use KuCoin For Trading In 2022
Users of KuCoin will manage their funds via an online platform or mobile apps. These apps are available both on iOS and Android. The app and the site versions both include a plethora of characteristics and functions. KuCoin users may browse markets, acquire cryptos and exchange them after creating their account. The platform accepts four different types of orders. Futures, Margin, and peer-to-peer trading are accessible with the exchange, which may be appealing to some customers. Furthermore, KuCoin enables staking and has recently included a trading bot function to assist ease the trading process. It effectively serves as a consultant for your bitcoin portfolio.
This exchange platform has a graded maker/taker charging structure, with trading costs varying from 0.0125 percent to 0.1 percent based on the tier level. Its costs are minimal in comparison to rivals, who might take up to 0.50 percent of every deal. Traders can further receive savings on trading fees depending on the balance of the KuCoin token. KuCoin imposes withdrawal charges besides the trading charges, which vary according to the performance in the market. There is no charge for deposits, although it is worth noting that the exchange currently has restricted choices for deposits via fiat.
It is crucial to look at the security features that this exchange provides to its users. Although KuCoin provides KYC authentication and business security measures, the platform was hacked two years ago. Hackers plundered more than $280 million in cryptocurrency from consumers’ hot wallets. Nevertheless, the funds were insured, but a breach of this size is really troubling. KuCoin, apart from the security measures such as encryption and 2FA, provides users with different trading. It is needed together with the user’s standard login credentials in order to withdraw assets and initiate trades. That adds an extra layer of protection.
To create an account, go to its official site and click “Sign Up. After that, select the KYC verification procedure, which will grant you a larger limit of withdrawal and access to other services. This crypto exchange platform supports both basic and complex KYC verification. While trading, you will find the KuCoin price protection strategy for its own KuCoin token. Some other coins may also benefit.
KuCoin has a variety of customer service alternatives, yet, like many rivals, you cannot interact with the supporting team via email. Users can, nevertheless, participate via the live chatting process to obtain answers to basic concerns or file a complaint to seek aid with more sophisticated issues.
KuCoin May Delist Some Coins
It is difficult to distinguish between real crypto advice and fraud because there are many predators out there eager to grab your money. Examine the cryptocurrency critically. How many people utilize it? What issue does it address? Avoid tokens that make promises but provide nothing concrete. You will find them with KuCoin also because it is already trading with 600 coins. KuCoin may delist some coins after finding complaints or knowing that they are offering nothing to traders and investors. You should not worry at all. Coins come and go from time to time. You may observe an updated list.
There are many pros and a few cons. So, you should use KuCoin for trading this year. The daily trading volume is increasing. This indicates that more and more people are becoming a part of KuCoin. One best thing to know about this crypto trading platform is that account management is easy. The process is simple and straightforward. However, the bad thing is that you cannot contact the supporting team on the phone. Neither, you cannot send emails. KuCoin is not as good as Binance, Coinbase and Kraken. Still, you can consider it. The charges are low. This is a great benefit.