For new users, trading and claiming crypto tokens, then selling or purchasing more, can be pretty intimidating at first. A great crypto exchange platform, such as KuCoin, could assist them de-clutter their dilemma.
KuCoin is a cryptocurrency exchange run by a third-party that allows you to buy, sell, and trade a wide range of cryptocurrencies. The main goal is to provide a safe and simple platform for people to trade digital currency all over the world.
“The People’s Exchange” is another name for Kucoin. It offers a wide range of trading pairs as well as crypto-related services.It also has a user base of more than 8 million people from 200 countries.
How to Set Up Account
- Step 1: Go to the KuCoin official website.
- Step 2: Finish the Login process by entering your Email Address and a strong password.
- Step 3: Verify your account by uploading the required identification document. The KYC will be approved soon. Verification, on the other hand, is optional.
- Step 4: Select a coin from the list or search for it using the ‘Deposit’ option to make a deposit. Then select an account, fill in the required information (address and amount), and paste it into the withdrawal platform.
How to buy tokens
- Step 1: Go to the top of the page and select “Markets.”
- Step 2: Using the search bar, look for the coin you want to buy. KuCoin will then display all of the available trading pairs for the coin you want to purchase.
- Step 3: Select the trading pair that corresponds to the coin you deposited.
- Step 4: Underneath the list of orders, click the buy box.
- Step 5: To complete your transaction, enter the number of coins you’d like to purchase, click the blue best price button, and then click the green buy box.
Process of Deposit and Withdraw
- Step 1: Locate “Asset” in the website’s right upper corner and select “Primary account (Deposit & Withdraw)” from the drop-down menu.
- Step 2: On the left side, click “Deposit,” then select the coin you want to deposit from the drop-down menu or directly search for the coin’s name and select it.
- Step 3: To deposit coins to KuCoin, simply copy the deposit address and paste into it at the withdrawal platform.
- Step 1: Log in to your KuCoin account first. Select “Overview” from the “Assets” tab, then “Withdraw” from the “Assets” tab. You can either type the token’s name into the search box or scroll down and select the token you want to withdraw by clicking on it.
- Step 2: After you’ve chosen the right token, you’ll need to enter the wallet address (which is made up of your name and address) as well as the amount. It’s up to you whether or not to add a remark. Then, to complete the withdrawal, click “Confirm.”
- Step 3: Enter your trading password> Verify your e-mail> To finish the withdrawal process, you’ll need a Google 2FA code or an SMS verification code.
Chargesand Supported Cryptocurrencies
Deposit fees for KuCoin are nil. It means that users will not be charged a penny for making deposits or other related transactions. When it comes to withdrawals, it has the lowest fees in the crypto market. It charges 0.0004 BTC every time a user withdraws BTC.
KuCoin has a free native mobile app available on Google Play and the Apple App Store. You can use the app to trade, check your transaction history, access your wallet, fund your account, and receive notifications.
Users can earn money through KuCoin’s referral programme by referring friends and family to the exchange. When a user refers a friend to the exchange, the first user receives 20% up to of the mentioned user’s trading expenditures for the first year of the mentioned user’s contribution on the site.
Kucoin Trading Bot
KuCoin has made it easier for anyone interested in trading to generate passive income with their new trading bot. The trading bot for KuCoin is currently available on their mobile app, with the following settings:
- “Classic Grid”
- Futures Grid
- Smart Rebalance
The bot simply assists you in dollar-cost averaging your cryptocurrency investments, as DCA stands for dollar-cost averaging.
Classic Grid happens to be a quantitative trading strategy in which various price points use to beshowed on a grid. Before buying or selling the cryptoasset at a low price, the bot postpones for certain price points to be met.
You have two options when setting up the bot: a minimum and maximum price range in which the trading bot will operate, as well as the number of orders that will be placed. The bot will purchase crypto assets at the Min and Max price points, which determine the bot’s lowest and highest price points. If the bot trades outside of this range, it will stop trading.
KuCoinuse to allow you to lend your unused assets to other KuCoin users in requirement of margin trading loans. The margin trader might borrow USDT and bet on a token that she thinks will appreciate in value. After that, the USDT is repaid with interest. To guarantee the loan, she must, however, keep a certain amount of assets as collateral.
USDT has an average annual interest rate of around 50%. The interest earned on KuCoin will go to an insurance fund in the amount of 10%, with the remaining 5% going to a trading fee. If the borrower’s collateral loses value, the insurance fund will cover the loss.
KuCoin leverage tokens
KuCoin Leveraged Tokens are leveraged tokens managed by a fund manager, with the goal of providing traders with anexactmanifold of underlying advantageincomes by trading Leveraged token shares.
Because KuCoin Leveraged Tokens have no expiration date and no negative price, there is no risk of them being liquidated.Investors can subscribe to or redeem tokens on the primary market, and they can buy or sell them on the secondary market. Traders do not need to pay any margin for KuCoin Leveraged Tokens.
KuCoin Leveraged Tokens traders do not need to pay a margin or borrow money to try margin trading for higher profits.Trading fees, subscription fees (0.1%), redemption fees (0.1%), and management fees are all generated by KuCoin leveraged tokens (0.045 percent every day).
Is Exchange Secure and Safe?
To protect both divides, KuCoin uses a variety of security methods, such as micro-withdrawal wallets. It uses dynamic multi-factor authentication, industry-standard multilayer encryption, and a dedicated internal risk control department to safeguard your funds.
The KuCoin team monitors organisations on a regular basis to ensure that they are adhering to stringent security standards when conducting day-to-day data activities.