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KuCoin is one of the fastest growing cryptocurrency exchanges in the world right now. Since their launch earlier this year, they have added hundreds of new users every day and recently surpassed two million registered users. In this blog post, we’ll explain everything you need to know about KuCoin and how you can start trading on their exchange. Arriving in the shadow of another booming exchange — Binance — KuCoin has quickly gained traction with traders looking for an alternative option. Even though they’re both based in similar locations — Singapore and Hong Kong — there are key differences between the two exchanges that might sway your decision one way or the other when choosing where to trade altcoins and tokens.
Why is KuCoin Growing So Fast?
The most obvious reason why KuCoin is growing so fast is because it actually works! The platform rarely suffers from downtime and has minimal hacking incidents. This is unlike many other exchanges we see today where users have to worry about their funds being stolen or having their account hacked. It’s also worth noting that KuCoin pays out 90% of trading fees back to users in the form of a token that can be used to reduce trading costs or be traded on the exchange for profit. KuCoin Shares (KCS) currently has a market cap of over $500 million and is currently one of the top 50 cryptocurrency tokens in the world. What’s more, KuCoin’s user-friendly interface and simple trading features make it ideal for beginner crypto traders.
How to Trade on KuCoin
If you’ve made up your mind to trade on KuCoin, the first thing you need to do is to create an account by submitting your email address and clicking on the “Sign Up” button. Once your account is verified, you’ll need to send some funds to your account so you can start trading. There are two ways to do this: – Send ETH or other ERC-20 tokens to your KuCoin wallet address; or – Buy BTC or ETH with your card or through your bank account and send it to your KuCoin wallet. Once you’ve deposited funds in your KuCoin wallet, it’s time to trade. Navigate to the “Markets” tab on the home screen and you can start trading right away.
Earn FREE KCS Tokens With Your Trades
If you’re new to cryptocurrency trading and don’t know where to start, one of the best things about KuCoin is that you’ll earn free tokens just for completing your first trade. Every time you make a new trade on KuCoin, you earn 10% of the trading fees paid by the person you’re trading with. Just like Binance, this is a great way to earn free tokens by trading the tokens you already hold. You can also earn additional KCS tokens by inviting your friends to trade on KuCoin. For every person you invite who successfully completes their first trade, you’ll earn an additional 100 KCS tokens. Keep in mind that there’s a daily limit of earning KCS tokens through trading. You can only earn up to 2000 tokens per day and you have to wait a full 24 hours between each trade.
What is KuCoin?
KuCoin is an international cryptocurrency exchange that’s based in Singapore and Hong Kong. The company was founded in 2017 by a team of blockchain experts with significant experience and knowledge in the industry. KuCoin was created as a solution to the growing number of people who were looking to trade cryptocurrency and other digital assets but weren’t able to on other exchanges. The company’s founders realized there was a huge gap in the market for an international exchange that was secure, easy to use, and available to anyone in the world. When KuCoin first launched, it naturally attracted a lot of people who were already trading on other exchanges. However, KuCoin has quickly distinguished itself as a leading exchange in its own right due to its innovative features and useful platform tools.
Key Features of the KuCoin Exchange
– Hundreds of cryptocurrencies – KuCoin offers hundreds of different cryptocurrencies and tokens to trade such as Ethereum, Litecoin, Bitcoin, NEO, IOTA, XRP, TRON, ADA, and many more. – Low trading fee – One of the reasons why KuCoin has gained so much traction among traders is because of their low trading fee of just 0.1%. – Safe and secure – KuCoin uses a complex network of state-of-the-art security protocols and safety measures to protect assets and user funds. – Competitive referral program – One of the most popular reasons why people choose KuCoin over other exchanges is because of their generous referral program. – Multiple language support – You don’t have to worry about not being able to understand the platform or the company. KuCoin supports English, Chinese, Japanese, and Korean languages.
Limitations of the KuCoin Exchange
– Poor customer support – There have been many complaints from users about the lack of response from KuCoin’s customer support team. – Localized website – Although KuCoin’s website is available in multiple languages, the majority of the website is written in Chinese. – High deposit and withdrawal fees for credit card users – If you want to buy BTC or ETH with your credit card and send them to KuCoin, you’ll have to pay a very high fee. – Hacking incidents – Although it’s true that KuCoin is generally safe and secure, there have been a few hacking incidents where malicious hackers have stolen funds from user accounts. – Regulated in just a few countries – At the moment, KuCoin is only legally allowed to operate and be based in a few countries.
KuCoin has quickly emerged as one of the leading exchanges for cryptocurrency traders. This is due to the high-quality features and tools that it offers to its users. One of the best things about KuCoin is that it doesn’t just cater to serious traders. It also provides beginners and crypto novices with an easy-to-use platform and helpful tools to start trading and earning free tokens. KuCoin is definitely an exchange that you’ll want to keep your eye on in the future!