Launched in September 2017, KuCoin is a cryptocurrency change that provides a wide variety of cryptocurrencies and digital property. Impressively, KuCoin claims that one out of 4 crypto holders worldwide are with KuCoin, which is testomony to the change’s attain and speedy development over the past three years.
Though it suffered a hack earlier this yr, the change handled it actively, has now recovered the overwhelming majority of the funds that had been stolen and enhanced its safety measures to maintain its customers secure from future assaults. No customers have suffered from any losses as a result of incident.
Partnered with Banxa and Simplex for facilitating fiat funds, the wonderful thing about KuCoin in comparison with many different exchanges is you possibly can spot purchase Bitcoin and different cryptocurrencies together with your debit card, after which commerce on the identical platform. That is nice for making the most of dips out there to buy crypto rapidly and safely.
KuCoin relies within the Seychelles, however adheres to its personal AML and KYC insurance policies and has to this point in its historical past confirmed itself to be a reliable change.
Some exchanges prior to now have been extensively criticised within the crypto neighborhood for allegedly manipulating costs or claiming cases of “overloading” at instances of utmost quantity out there when commerce orders have been unable to be accomplished. KuCoin avoids these issues due to its superior design that enables it to course of as much as 1 million transactions per second.
However why use KuCoin as a substitute of certainly one of its rivals? Let’s check out a few of their key options
KuCoin Key Options
Can spot purchase Bitcoin simply and safely — Restrict, cease, market, submit solely and iceberg orders. Plus day by day quantity of just about $500 million for loads of liquidity for making trades.
Large Vary of Digital Property — with about 250 cash and over 400 buying and selling pairs, KuCoin is the primary cease for a lot of crypto hidden gems
Trade-leading security measures — For shielding your KuCoin account, akin to a customized passphrase so as to add to KuCoin emails for verification and restrictions on IP addresses that may log into your account. These further steps have been added by the platform following its 2020 hack.
Anti-liquidation measures — KuCoin’s index compares costs throughout six exchanges earlier than finalising liquidations, retaining your funds secure from value manipulation.
L3 mechanism — Lets you know the small print of every transaction and eradicate human manipulation.
A number of choices for staking — Select between two sorts of locked-up merchandise: mounted or versatile. Locked-up merchandise may also be instantly traded to finish their locked-up standing at any time.
Double Rewards for staking — The primary lock-up mining mode, can acquire staking revenue plus POL mining reward.
Superior API options — Organising KuCoin APIs are a simple and environment friendly option to develop a safe and programmatic buying and selling technique.
Cell app for IOS and android for buying and selling on the go.
Kucoin: Professionals and cons
Professionals
Stable consumer base of 6 million customers to make sure good ranges of liquidity
Round 200 cryptocurrencies and tokens and 400 buying and selling pairs to supply as many buying and selling alternatives potential to its customers
Leverage options can be utilized to make your capital go additional to probably maximise your earnings
Beneficiant and versatile staking applications, akin to for ATOM, TRX, KCS and WAN
Energetic neighborhood and good social media presence
Cons
Suffered a big hack assault earlier this week resulting in questions over the protection of the platform — KuCoin has now applied tighter safety measures to deal with this
Not regulated by an formally recognised regulatory physique, however nonetheless applies KYC and AML measures to all customers.
Person interface KuCoin
KuCoin’s web site is modern and fashionable. The homepage has a number of helpful details about the platform with a very informative assist and FAQ part.
The house web page options three totally different accounts: The “Important Account” used for deposits and withdrawals of cryptocurrencies, the “Buying and selling Account” is used for making trades and transactions, whereas the “Margin Account” is used to facilitate borrowing and margin buying and selling.
The buying and selling platform itself is simple sufficient to observe. As seen within the screenshot, customers can simply organise the property they commerce into their favourites for straightforward entry. As well as, the platform is built-in with TradingView to permit for using industry-standard buying and selling instruments and indicators so that you by no means have to depart the platform.
Neighborhood Exercise
A take a look at the platform’s social media and neighborhood presence exhibits a really energetic and vocal crew of builders and supporters. KuCoin’s Medium weblog could be very energetic, averaging two to a few posts per day for bulletins on subjects akin to new staking campaigns, money giveaways and market information.
The social media platforms of KuCoin additionally look to be comparatively energetic, with its Telegram channel boasting a powerful 73,000 customers.
KuCoin: In Abstract
KuCoin is a good multi function platform for purchasing, promoting and buying and selling cryptocurrencies. That is particularly helpful for merchants who need to keep away from paying further transaction and community charges in the event that they at present purchase and commerce their cryptocurrency on totally different platforms. On KuCoin you possibly can pay for crypto in fiat, commerce, and money out your earnings.
As well as, KuCoin’s staking providers are among the finest within the crypto house, permitting you to earn out of your holdings over the long run.
Though there had been safety issues surrounding the platform earlier this yr, KuCoin has taken strides to treatment this to revive belief in the neighborhood and add new safety measures to its platform.
KuCoin is more likely to stay as one of many premier exchanges within the coming years because the cryptocurrency {industry} continues to mature and develop.
