Are you trying to start buying, selling and trading cryptocurrencies, but aren’t certain if Kucoin is the best exchange for you? Or possibly you could have seen a selected coin listed on Kucoin, and now you want to be certain it’s safe to use? So, you’re on the lookout for a Kucoin assessment?
Well, no matter it is that you simply wish to find out about Kucoin, I have it covered! In this Kucoin assessment, I’m going to start out by providing you with a brief introduction in to the background of the exchange, followed by how easy or troublesome it is to make a deposit.
Following that, I’m then going to let you already know what coins you can deposit, what verification process they have, and then finally, I will list all of its advantages and disadvantages.
By the end of reading my information, you will have all the knowledge it is advisable to resolve whether Kucoin is the appropriate exchange for you!
So, what are you waiting for? Let’s leap in to the primary a part of this Kucoin evaluate — the change’s background!
Kucoin is a third party exchange that means that you can buy, promote and trade numerous different cryptocurrencies. It was created in Could 2017 by a group of experienced enterprise 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 target of the founders was to create a easy and safe platform for individuals all over the world to use to trade a range of digital coins. Within the lengthy-time period, they wish to be one of the 10 prime largest exchanges on this planet, and they hope to achieve this by 2019.
Because it was launched, Kucoin exchange has not skilled any notable issues, and customarily, the exchange does not suffer from any system overloads. It is now potential to access the Kucoin platform by means of a desktop computer, 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. However, their common trading quantity is far less than other widespread exchanges akin to Binance.
Whilst writing this Kucoin evaluate, I also discovered that the change also has their very own cryptocurrency called Kucoin Shares (KCS)! By holding KCS cash, Kucoin customers get discounted trading fees.
Furthermore, holders of KCS coins additionally get a 50% share of all trading fee revenue made by the trade! 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 subsequent a part of my Kucoin evaluation is going to discuss the types of cash you can buy!
At the time of writing (June, 2018), Kucoin have more than 340 different trading pairs available. An instance of a trading pair is BTC/ETH, which means to trade Bitcoin with Ethereum. They assist more than seventy five individual cryptocurrencies and they are adding to this list all of the time.
Within this list includes nearly all of fashionable cash, similar to Bitcoin, Ethereum, Litecoin and Bitcoin Money, as well as less common (but still top cryptos) coins resembling VeChain and Lympo. The easiest method to get a complete up-to-date list of what cryptocurrencies you can trade at Kucoin is to click on here.
One of many fundamental aims of Kucoin is to offer their traders very low fees. But just how cheap is it?
Firstly, cryptocurrency deposits are free, apart from the blockchain transaction price that you pay to make the transfer. In fact this will depend on which cryptocurrency you’re using.
On the subject of making a trade, you’ll only pay 0.1% of the quantity you’re buying. For example, in case you needed to buy $1000 value of Litecoin, you’d only pay $1! This is without doubt one of the lowest in the trade, which is an effective reason to make use of Kucoin.
When it comes to withdrawing your cash out of the alternate, the price is dependent upon 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 realize concerning the totally different cash that Kucoin accepts and the Kucoin fees, the subsequent part of my Kucoin evaluate goes to take a look at the completely different payment strategies, together with any verification steps you would possibly must take.
Fee Methods and Verification
Does Kucoin settle for fiat foreign money? Well, unfortunately they don’t, which means that you will want to deposit using one other cryptocurrency.
If this is your first time in the cryptocurrency business, the best option to get began is to purchase a well-liked cryptocurrency like Bitcoin or Ethereum at Coinbase. Coinbase allow you to use traditional payment methods corresponding to a debit card or bank account. After you have finished this, you possibly can then switch your coins directly in to your newly created Kucoin account.