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KuCoin Review 2022: Excellent Advanced Crypto Trading Features

KuCoin Review 2022: Excellent Advanced Crypto Trading Features

What is KuCoin?

 KuCoin is a Singapore-based change that was originally launched in Hong Kong in 2017, marketing themselves as 'The People's Exchange'. Their aim was to give people all over the world access to a simple and safe platform to buy and sell a range of digital currencies. They have certainly made an impact in the international crypto community, growing its user base to over 8 million in just 4 years, and serving one in 4 crypto holders worldwide.

Kucoin Now is best cryptocurrency exchange of 2022 and low fee.

Coin and services group I really like kucoin which is the reason why kucoin is so popular all over the world

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KuCoin's interface can be slightly daunting for new users, but after you learn your way around the platform, you will love the low 0.1% And kucoin provides trading fees and abundance of trading tools. These are my top three reasons to recommend KuCoin:


1) KuCoin trading fees are very low (0.1%) and you can reduce this fee to 0.08% If you use their token (KCS coin) to pay the fee, you can reduce that fee to 0.08%.  If your transaction volume is large and you hold a certain amount of KCS coins, your fee will be charged more.  If you choose to buy and sell crpyto on the P2P marketplace, you will incur no costs at all!


2) KuCoin has more than 250 cryptocurrencies that can be traded in the market, it is one of the most widely available, and they are constantly adding new digital currencies to their list.. You will likely find the coin you're searching for on KuCoin.


3) KuCoin has an extensive array of extra features that are not found on more fundamental crypto exchanges. Experienced crypto traders and traders will enjoy Margin trading, Spot trading, P2P marketplace, Futures trading and there are even ways to earn interest on your crypto, using Crypto lending and KuCoin KCS bonus.


There are also ways to use Crypto Lending and KuCoin KCS Bonus to earn interest on your cryptocurrency.  My biggest criticism of KuCoin is that although it is an excellent trading platform, it is not particularly suitable for cryptocurrency transfers, and vice versa.For example, if you need to buy crypto directly on KuCoin, the fee ranges from 3% - 12% pending on payment method. Also, you can't withdraw fiat currency from the exchange. I would suggest using another exchange, such as Coinmama, Coinbase, or Gemini to buy your crypto using fiat, then deposit that crypto into your KuCoin account (fee-free) to take advantage of the excellent features and low buying and selling charges.

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Key Features & Advantages of KuCoin

What Services does KuCoin offer?

If you have spent a bit of your time looking at that are the best crypto exchanges, you will know that there are tons of options and it's difficult to pick one. I hope I can help you decide by going into detail about the key services that KuCoin offers its customers.

Over 250+ different|completely different} cryptocurrencies:  KuCoin offers over 250+ different cryptocurrencies which is among the widest ranges found on crypto exchanges. KuCoin is usually adding new coins to their platform so you can be among the first to buy the new crypto you have been researching.

Pro Tip: To access the entire range of 250+ coins, you need to trade on the Market. If you wish to purchase crypto directly using fiat currency, you only have access to about fifty popular coins. To access the other coins, you may got to trade them on the market. North American nationDT may be a stable coin that's pegged to the US dollar (it holds the same value as USD), which you can use to trade different coins. This essentially creates the same scenario as trading from USD to crypto. for example, if you want to buy a coin called mem on KuCoin, you cannot buy it directly using your credit card. 1st buy USDT using your fiat currency, then go to Market and buy mem using USDT.


Mobile app for iOS associated humanoid:  KuCoin has an app out there for iOS and Android devices, so you'll be able to trade where you're. The interface is sleek and even includes a commerce larva that's not out there on the desktop website. On the Google Play store, KuCoin's app has over one million downloads, with a high user review rating of four.5 stars, from thirteen 13000 reviews.



Buy crypto directly with fiat currencies: buying crypto using your fiat currency (eg: USD) is probably however you will start your crypto journey on KuCoin. All you need to try to to is choose how much you would like to spend in your fiat currency (KuCoin supports over 50 fiat currencies) and select which cryptocurrency you want to buy. Follow the prompts and you'll see the digital assets in your KuCoin billfold shortly. There square measure about 50 different coins offered here. If you want to buy a coin that is not available to purchase using fiat currencies, you need to trade on the market. Click here to read how to do that.

Pro Tip: If you want to avoid any immediate volatility then I suggest you buy USDT, that is a stable coin linked to the value of the US dollar. you can use USDT to trade to any of the 250+ cryptocurrencies on the market. However, there's a fee of around 3-5% reckoning on that payment method you use, so if the coin you want to buy is available in the list of 50 supported coins, it is cheaper to buy it straight away.


Only partial KYC verification required:  Some crypto exchanges require a lengthy verification method that features sending photos of your identification, photos of yourself, and even voice and video recording of your face, just to be able to use the platform. On KuCoin, only partial verification is needed, and full verification is only requested if there is suspicious activity, or if you want to withdraw >5 BTC in a 24 hour period.

P2P marketplace - buy & sell with ZERO fees:  KuCoin provides a P2P (peer-to-peer) marketplace where you can buy or sell cryptocurrency with another user at an agreed price. you can advertise how much you are willing to buy or sell, and if another individual likes your offer, then your deal is complete and you make the trade. There are also no fees using P2P marketplace which is a bonus.


Futures and margin trading:  KuCoin offers futures trading with up to 100x leverage. There are two interfaces you can choose between once trading futures. the first is called Futures lite which is simple to use, and is perfect for a quick futures trade. I have included a screenshot below. The second option is Futures pro, which has full trading tools and supports up to 100x leverage. there is a screenshot of Futures pro underneath the screenshot of Futures lite. 

Pro Tip: it is very risky to margin trade, as you can lose more than your initial capital. i would suggest that you only try margin trading if you are old, and remember that cryptocurrency can be extremely volatile.



KuCoin bonus - earn KCS daily:  Any user that holds more than 6 KCS coins (KuCoin's own token) on the exchange will earn money from it, much like earning interest within the bank on a savings account. The bonus is given daily, with an calculable apr over 22nd. 

Pro Tip: you can use your KCS coins to reduce the fees you pay on your trades by 200th. this implies that instead of paying 0.1% fee for trading on KuCoin, you will only be paying 0.08%. consider buying KCS to reduce your fees as well as earn interest.

Crypto lending and borrowing: another way you can earn interest on your crypto is to lend it to others on the KuCoin platform. There ar over 70 different cryptocurrencies that you will lend, and you can choose a term of 7, fourteen or 28 days. The daily interest rate depends on the amount of interest you want to charge. the higher your interest rate, clearly the more crypto you'll make, but it's less likely someone will take up your offer, if there are better rates on the market.

If you are looking to borrow crypto, you'll also do that on KuCoin. simply select which coin and how much you would wish to borrow, and also the applicable daily charge per unit that suits you.

Pro Tip: If you lend USDT, you can earn interest without worrying about the fluctuations of the crypto market. it is also a good option for those planning on HODLing their crypto. If you aren't going to sell it in the short term, you'll as well grow the amount of crypto you own.



KuCoin trading bot:  KuCoin has several bots available to help you with your trading. On the desktop site, it appears that only Spot Grid bot is supported; for the other 3 bots, you need to use the mobile app. A trading bot is a very useful tool to help increase your investment profits. you can choose the rules that your bot will follow, and it will execute trades for you automatically, meaning you can trade while you sleep. The bots are free and they run on a cloud, so you do not need to have your phone or computer in use to support it. you can even see the most thriving bots ranked on a daily or 7-day basis, and copy their configurations to create the same bot on your own account.




Bank-level asset security: you can rest assured that your cryptocurrency is safe when you trade with KuCoin. The exchange implements many security measures, such as micro-withdrawal wallets, industry-level multilayer encryption and dynamic multi-factor authentication. This runs alongside their dedicated internal risk control departments who overlook all transactions on a daily. KuCoin was hacked in 2020, but they managed to recover a large portion of the funds. The unrecovered funds were lined by their insurance, so users did not suffer any losses due to this cybersecurity breach.


KuCoin Fees

KuCoin charges different fees for depositing, withdrawing, trading and purchasing cryptocurrency; i will go into detail below.

KuCoin Deposit Fees

If you are depositing cryptocurrency into KuCoin, there are zero fees incurred.

KuCoin does not support fiat deposits. However, if you want to buy crypto with fiat, you can do so at the time of purchase, without pre-funding your account.

How much is the fee to buy crypto on KuCoin?

I couldn't find a clear answer on any reviews or even from KuCoin's website. to find out the answer for this review, I purchased USDT using US dollars on my own account. Since U.S.DT is the same value as the US dollar, the difference in what I pay, and the amount of USDT I receive will show the fee that is taken out. As you can see from the screenshots below, depending on the payment method, and the payment channel, the fees are completely different.

The best value seems to be SEPA, where you receive 96.93 USDT for $100. this means the fee that's charged is about 3.1%. the highest fee is when you Visa/Mastercard or Apple Pay using the Simplex payment channel, where they take a whopping 12.3%!






KuCoin Withdrawal Fees

When you withdraw cryptocurrency from your KuCoin account, there is a flat fee that varies depending which coin you are transferring. to see a full list of KuCoin's cryptocurrencies and their respective withdrawal fees, click here.

KuCoin does not support fiat withdrawals.

KuCoin Trading Fees

KuCoin fees for spot trading (buying and selling crypto) start at a low 0.1% and you'll easily access a 200th discount if you use KCS coin (Kucoin's token) to pay your fees. This equates to only 0.08% per trade.

Verdict

KuCoin is one of the most popular cryptocurrency exchanges, and it has a lot going for it. Extremely low trading fees, P2P market with no fees, over 250+ cryptocurrencies, and packed full of additional features that advanced traders love, like trading bots, futures, margin trading, and crypto lending.

A couple of downsides to KuCoin is that if you want to purchase crypto using fiat, there will be a minimum fee of 3% and you also can't withdraw fiat currency from the exchange. This may not be the best exchange for those that are new to cryptocurrency, but for experienced traders, the benefits outweigh the disadvantages.

If you are looking to compare other options, Binance is the largest crypto exchange in the world by trading volume. You can read my full evaluate of Binance and I also have an article comparing KuCoin to Binance.


Frequently Asked Questions

Is KuCoin legitimate?

Yes, KuCoin is a legitimate and reliable cryptocurrency exchange that was situated in 2017. It has expanded rapidly in recent years and now serves over 8 million users.


Is KuCoin safe?   













Yes, KuCoin is a secure cryptocurrency exchange. You can exchange with no trouble on KuCoin, knowing that your digital property are invulnerable on the exchange. KuCoin utilises several layers of security, consisting of micro-withdrawal wallets, industry-level multilayer encryption and dynamic multi-factor authentication. They additionally have dedicated internal risk control departments who forget all transactions on a daily basis.

Can KuCoin be trusted?

Yes, KuCoin is a trusted cryptocurrency exchange installed in 2017 and used through over 8 million clients round the globe. It makes use of multi-layered security, including micro-withdrawal wallets, industry-level multilayer encryption and dynamic multi-factor authentication. KuCoin even has internal danger manipulate departments overseeing all the transactions made every day.

Can KuCoin be hacked?

It does not count number how invulnerable a crypto alternate is, there is continually the hazard that hackers discover a vulnerability. KuCoin was once hacked in 2020, however the vital trouble is how they dealt with it. KuCoin managed to get better a giant element of the stolen cryptocurrencies, and the ultimate unrecovered dollars had been protected through their insurance plan policy. Their customers did now not lose any cash as a end result of this cybersecurity breach.

Can KuCoin be used in the USA?

Yes, KuCoin is available to US residents. You may not be in a position to get admission to the KYC verification, however this is now not required. You can nonetheless use the platform besides full verification.

 



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