KuCoin Cryptocurrency Exchange Review
KuCoin – Bitcoin and Cryptocurrency Exchange Review
KuCoin is ranked 6th top cryptocurrency spot exchange according to CoinMarketCap, scoring a 8.1 out of 10. It’s known for being an early adopter of new digital coins. The withdrawal fees were described as reasonable, which is a big plus. Voting also takes place when a new coin is added to the marketplace.
Kucoin is offered as a cloud-based product that you can use directly from your web browser and on mobile phones and tablets.
I use the mobile version more frequently but if you are using the PC version, there are slight differences, however the general feel of things is replicated, so you won’t struggle to adapt from mobile to PC or vice versa. According to online reviews, the program’s user-interface was described as uncluttered, easy to navigate, practical and functional, and I have to agree with that, the platform is really intuitive.
The mobile app is divided into 5 sections.
Firstly, there’s the home page, this usually has a slideshow of competitions, discounts, giveaways and promotions they’re offering. They also have a simple BUY CRYPTO button, which I think is great for beginners who just want to buy their first share of Bitcoin. They also allow Visa/Mastercard as a payment method. There’s a whole bunch of useful information and features you could explore on the home page. A few of these include staking, crypto lending and they also have bots you could use to automate your trading strategies.
Second, there’s a markets tab. This gives you an overview of the market. There’s also a section that allows you to favorite pairings you want to see. This is very convenient.
Third, the trading tab. This is where you will buy and sell cryptocurrencies. There’s spot trading, margin trading, purchasing through FIAT (credit/debit card) and bot trading.
Fourth, Futures trading tab. Basically trading with much higher risks. I would not recommend playing around there if you have no idea what you’re doing. You could potentially liquidate your account.
And then finally, the Assets tab. This gives you an overview of your assets. You have your MAIN ACCOUNT’s assets which could be considered your wallet. This is where you could store (HODL) your cryptocurrencies. Then you have your TRADING ACCOUNT assets. Your trading account is where you trade (buy and sell) cryptocurrencies. This is how you will purchase the coin your trying to accumulate.
NB! – Very important to remember that your MAIN ACCOUNT and your TRADING ACCOUNT are divided into separate sections so if you have some Bitcoin in your MAIN ACCOUNT you will select the option TRANSFER and switch the arrows to allow the Bitcoin you have in your MAIN ACCOUNT to move into your TRADING ACCOUNT. And the same applies moving coins you’ve traded from your TRADING ACCOUNT back into your MAIN ACCOUNT. The assets tab is also where you will find the options to withdraw and deposit cryptocurrencies.
Overall, everything is user friendly. They also have really awesome characters that pop up to give you a brief tutorial on what certain features do and how to use them. So they’ve really gone the extra mile to help those who are new to their platform. Security-wise, they allow 2FA, an additional anti-phishing safety phrase, your finger print (if you wanted that) or even a pattern to unlock your account. It’s all up to you.
KuCoin is one of the best jam packed platforms to use in the crypto space. If you really wanted to, you could get by using KuCoin alone and that’s a huge achievement. I definitely recommend checking KuCoin out if you’re looking for a high-liquidity cryptocurrency software that comes with a robust security toolkit.