Are you trying to start shopping for, selling and trading cryptocurrencies, however are usually not positive if Kucoin is the precise alternate for you? Or possibly you've got seen a selected coin listed on Kucoin, and now you want to make sure that it’s safe to use? So, you’re looking for a Kucoin evaluate?
Well, no matter it's that you wish to discover out about Kucoin, I have it covered! In this Kucoin review, I'm going to start by providing you with a brief introduction in to the background of the trade, followed by how straightforward or troublesome it's 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 lastly, I'll list all of its advantages and disadvantages.
By the end of reading my information, you will have all the data you'll want to decide whether Kucoin is the precise change for you!
So, what are you ready for? Let’s soar in to the first part of this Kucoin evaluation — the alternate’s background!
Kucoin is a third party change that allows you to purchase, 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 similar to Ant Financial and that iBox PAY. Kucoin is certainly one of newest cryptocurrency exchanges in the industry.
The target of the founders was to create a simple and safe platform for folks all over the world to use to trade a range of digital coins. Within the long-time period, they need to be one of many 10 top largest exchanges in the world, they usually hope to achieve this by 2019.
Because it was launched, Kucoin
change has not experienced any notable problems, and usually, the exchange does not undergo from any system overloads. It's now potential to access the Kucoin platform by way 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. Nevertheless, their average trading volume is much less than different in style exchanges equivalent to Binance.
Whilst writing this Kucoin assessment, I also discovered that the exchange additionally has their very own cryptocurrency called Kucoin Shares (KCS)! By holding KCS coins, Kucoin customers get discounted trading fees.
Furthermore, holders of KCS coins also get a 50% share of all trading payment revenue made by the exchange! The Kucoin cryptocurrency skilled all-time highs in January 2018 of more than $1.eight billion!
So, now that you already know about their background, the subsequent a part of my Kucoin assessment goes to debate the types of cash you should purchase!
At 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 assist more than seventy five individual cryptocurrencies and they are adding to this list all the time.
Within this list consists of nearly all of standard coins, equivalent to Bitcoin, Ethereum, Litecoin and Bitcoin Money, as well as less popular (however nonetheless top cryptos) coins similar to VeChain and Lympo. The easiest strategy to get a whole up-to-date list of what cryptocurrencies you'll be able to trade at Kucoin is to click here.
One of the principal aims of Kucoin is to supply their traders very low fees. However just how low-cost is it?
Firstly, cryptocurrency deposits are free, aside from the blockchain transaction charge that you just pay to make the transfer. After all this will rely on which cryptocurrency you're using.
Relating to making a trade, you'll only pay 0.1% of the amount you might be buying. For example, should you wanted to purchase $1000 value of Litecoin, you would only pay $1! This is one of the lowest within the industry, which is an efficient reason to make use of Kucoin.
When it comes to withdrawing your coins out of the trade, the fee is determined by what cryptocurrency you wish to take out. Kucoin have a full list of every withdrawal payment, which you can view by clicking this link.
So, now that you understand concerning the totally different coins that Kucoin accepts and the Kucoin charges, the next a part of my Kucoin assessment goes to have a look at the completely different fee strategies, together with any verification steps you would possibly have to take.
Payment Methods and Verification
Does Kucoin accept fiat forex? Well, unfortunately they don’t, meaning that you'll want to deposit using one other cryptocurrency.
If this is your first time within the cryptocurrency industry, the easiest option to get started is to purchase a well-liked cryptocurrency like Bitcoin or Ethereum at Coinbase. Coinbase let you use traditional payment methods corresponding to a debit card or bank account. Upon getting done this, you possibly can then transfer your coins directly in to your newly created Kucoin account.