KuCoin (KCC) is a cryptocurrency stock market that debuted in August 2017, despite the founding team’s involvement with blockchain technology dating back to 2011. Mek Global Limited is the parent business, which is based in the Seychelles, and Johnny Liu is the current CEO.
The company KuCoin, like many other cryptocurrency exchanges, is not regulated by the UK Financial Conduct Authority (FCA) or any other regulatory authority. There are nearly 8 million registered users in 207 countries and regions, while consumers in the United States, for example, are unable to trade on the site.
KCC raised funds through ICO (New Coin Listing). His own token, KuCoin Shares (KCS), has been sold for bitcoins (BTC) for around $ 20,000,000. The cost of one KCS token at the time of listing was 0.000055 BTC.
KuCoin is not governed by any government or regulatory organization. While this may appear to be a warning sign, it is widespread among crypto exchanges and currencies attempting to imitate Satoshi Nakamoto’s decentralized ideal for bitcoin and cryptocurrencies. However, caution should be used when dealing using KuCoin, as the absence of regulation means that money cannot be reimbursed in the event of a hack.
The KuCoin trading platform is simple to use and operates with an Application Programming Interface (API) key. Its powerful engine can process millions of transactions every second, rivalling Binance, Kraken, and Coinbase. The platform, however, is only accessible as an online trader and cannot be downloaded as a desktop client for Windows or Mac.
The interface makes it simple to execute trades and monitor order history.http://Kucoin Other capabilities include the option to set up notifications for impending listings as well as risk management methods such as order stop loss restrictions.
The tool displays the values of various cryptocurrencies plainly, eliminating the need to visit sites such as CoinMarketCap and CoinGecko.
When trading cryptocurrencies, KuCoin has somewhat higher costs than traditional trading firms. The firm does not charge spreads or commissions; instead, it is compensated through producer and receiver payments. The maker is the one who publishes the trade, whereas the taker is the one who chooses from the pre-listed transaction.
KuCoin trading fees are reduced depending on KCS stocks and 30-day trading volume (not 24-hour trading volume). Fees can be lowered even further by utilising KCS Pay. The following are some instances of holding trading costs.
- In the absence of holdings, the commission for both the maker and the recipient is 0.1%.
- For stocks of more than 10,000 KCS or more than 200 trading volumes, the producer / recipient’s commission is 0.07% / 0.09%.
- holding assets over 30,000 KCS or over 1000 trading volumes, the producer / recipient commission is 0.03% / 0.07%.
- funds over 70,000 KCS or over 15,000 trading volumes, no commission is charged.
Futures costs on KuCoin are slightly different. The taker’s commission is 0.06 percent, while the manufacturer’s commission is 0.02 percent. A 0.025 percent settlement fee is also levied once the contract is signed. These costs can be reduced based on KCS assets and trading volume.
Platform fees are around average for the market and competitive level.
Leverage or margin trading is provided on KuCoin for 36 market pairings denominated in USDT, BTC, and ETH. Crypto tokens such as Bitcoin, Ethereum, Litecoin, Ripple, and Cardano are included in these pairs. KuCoin’s network may provide up to ten times the leverage. This implies that traders can deposit £100 and trade £1,000 at the same time. While leverage might raise your gains, be aware that any losses will be amplified as well.
KuCoin has a mobile app available for Android and iOS. The app is fully functional with all analytical charts and tools. It can be downloaded for free from the Google Play Store and App Store. Users can easily open and close trades through the app, as well as view their current portfolio and order history.
The app supports two-factor authentication (2FA) during login using a verification QR code.
Deposits with KuCoin may be made in either one of the underlying cryptocurrencies, or in fiat cash. There is no required minimum deposit. Fiat deposits can be made in US dollars, euros, British pounds, and over 20 other currencies. In this situation, customers utilize their fiat cash to purchase one of the underlying cryptocurrencies.
With the exception of bank transfers, which can take up to two days, most deposits are nearly rapid. Varied payment methods result in different rates, with fees ranging from 1% to 3%. Deposits can be made using the following payment methods:
- Bank transfer (bank transfer)
- Credit / Debit Card
- Transfer to an electronic wallet
- Google pay
- Apple Pay
KuCoin funds may be withdrawn using a variety of cryptocurrencies. Users are unable to withdraw money to fiat currencies such as sterling or bank accounts.There are no withdrawal limits for any cryptocurrency, although the minimum withdrawal amount and fee vary. For example, the withdrawal cost for Tether (USDT) is one dollar, and the minimum withdrawal value is one dollar. Withdrawals are typically completed within 24 hours of being requested.
Cryptocurrencies that can be withdrawn include:
- Ethereum (ETH) – commission 0.004 ETH, min. 0.01 ETH
- Bitcoin (BTC) – commission 0.0005 BTC, min. 0.001 BTC
- Ripple (XRP) – 0.1 XRP commission, minimum 20.1 XRP
- Tether (USDT) – commission 1 USDT, minimum 1 USDT
- Cardano (ADA) – 1 ADA collection, 2 min. ADA
In many countries, including the UK, KuCoin does not require KYC verification to trade and withdraw funds.
KuCoin provides a demo account for people who are new to trading. Users can make limitless investments, using a demo account to become acquainted with the platform and the market. Before upgrading to a genuine account, a demo account is an excellent way to practise methods and test price forecasts.
KuCoin includes a section dedicated to trading bots. Simultaneously, traders may enter the tactics they choose, deposit cash, and begin making money through automated trading. 3Commas created the out-of-the-box bots for users. These bots may be utilised in both a web trader and a mobile app.
Furthermore, the KuCoin website has a news area where users can learn about forthcoming ICOs and DeFi events.
KuCoin is establishing a loan scheme, in which customers may borrow bitcoin in exchange for interest, effectively betting their assets in digital currency. This allows traders to create passive revenue, but due to the volatility of the cryptocurrency, it may also be a hazardous approach.