Are you seeking to start shopping for, selling and trading cryptocurrencies, but are not sure if Kucoin is the appropriate exchange for you? Or possibly you've gotten seen a particular coin listed on Kucoin, and now you need to make certain it’s safe to make use of? So, you’re looking for a Kucoin evaluation?
Well, whatever it is that you wish to find out about Kucoin, I've it covered! In this Kucoin assessment, I'm going to begin by providing you with a quick introduction in to the background of the exchange, followed by how simple or tough it's to make a deposit.
Following that, I'm then going to let you already know what coins you possibly can deposit, what verification process they've, after which lastly, I'll list all of its advantages and disadvantages.
By the top of reading my information, you'll have all the data it's essential to determine whether or not Kucoin is the precise change for you!
So, what are you ready for? Let’s bounce in to the primary a part of this Kucoin review — the change’s background!
Kucoin is a third party alternate that allows you to buy, promote and trade numerous completely different cryptocurrencies. It was created in Might 2017 by a gaggle of skilled business specialists who had previously worked on projects comparable to Ant Monetary and that iBox PAY. Kucoin is one among newest cryptocurrency exchanges in the industry.
The objective of the founders was to create a simple and safe platform for individuals all over the world to make use of to trade a range of digital coins. In the lengthy-time period, they want to be one of many 10 top largest exchanges on the earth, and so they hope to achieve this by 2019.
Since it was launched, Kucoin alternate has not experienced any notable problems, and generally, the exchange doesn't undergo from any system overloads. It is now potential to access the Kucoin platform by a desktop laptop, as well as on the Kucoin app on both Android and iOS.
In early 2018 it was reported that Kucoin has more than 1 million users. Nonetheless, their average trading volume is much less than different well-liked exchanges equivalent to Binance.
Whilst writing this Kucoin evaluate, I additionally discovered that the exchange additionally has their very own cryptocurrency called Kucoin Shares (KCS)! By holding KCS coins, Kucoin customers get discounted trading fees.
Additionalmore, holders of KCS cash additionally get a 50% share of all trading payment profit made by the change! The Kucoin cryptocurrency skilled all-time highs in January 2018 of more than $1.8 billion!
So, now that you recognize about their background, the next a part of my Kucoin review goes to discuss the types of coins you should purchase!
On the time of writing (June, 2018), Kucoin have more than 340 totally different trading pairs available. An example of a trading pair is BTC/ETH, which means to trade Bitcoin with Ethereum. They support more than 75 individual cryptocurrencies and they're adding to this list all the time.
Within this list consists of the vast majority of common coins, equivalent to Bitcoin, Ethereum, Litecoin and Bitcoin Money, as well as less common (but nonetheless top cryptos) coins equivalent to VeChain and Lympo. The easiest way to get a complete up-to-date list of what cryptocurrencies you may trade at Kucoin is to click here.
One of the foremost goals of Kucoin is to offer their traders very low fees. However just how cheap is it?
Firstly, cryptocurrency deposits are free, other than the blockchain transaction fee that you just pay to make the transfer. After all this will depend on which cryptocurrency you are using.
Relating to making a trade, you'll only pay 0.1% of the amount you're buying. For instance, in case you needed to purchase $1000 price of Litecoin, you'll only pay $1! This is without doubt one of the lowest in the business, which is an effective reason to make use of Kucoin.
When it comes to withdrawing your cash out of the trade, the fee will depend on what cryptocurrency you want to take out. Kucoin have a full list of each withdrawal payment, which you'll be able to view by clicking this link.
So, now that you already know concerning the completely different cash that Kucoin accepts and the Kucoin fees, the following part of my Kucoin
review goes to look at the completely different cost methods, together with any verification steps you might have to take.
Cost Strategies and Verification
Does Kucoin accept fiat foreign money? Well, sadly they don’t, that means that you'll want to deposit using one other cryptocurrency.
If this is your first time within the cryptocurrency business, the simplest way to get started is to purchase a well-liked cryptocurrency like Bitcoin or Ethereum at Coinbase. Coinbase let you use traditional fee strategies equivalent to a debit card or bank account. After you have completed this, you may then transfer your coins directly in to your newly created Kucoin account.