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  • Writer's pictureEmre Ata

How to use KuCoin exchange? Step by step guide

Updated: Sep 17, 2022

How to use KuCoin exchange? Step by step guide

Secure cryptocurrency transactions start with KuCoin. So it says on its own website. A secure and quick purchase of a cryptocurrency with a simple click is possible. Different types exist for one or all types of risk-taking. You can try everything for free. There are numerous ways of maintaining and increasing wealth. In the end, of course, that's all advertising. Anything related to the application for the various operations can be traded at anytime and anywhere. KuCoin has its own platform, which ultimately results in easier networking. And then there is the KuCoin News. All important, current events in the crypto world are clearly presented on this site. Most of it is of course in English. No Different Accounts: If you register for an account with KuCoin, you don't have much choice. The providers do not charge any fees for registration or for using an account. Additional fees only apply from the moment when cryptocurrencies are traded. Basically, all that is required is a valid mail which you can choose. There is no distinction between an account for private traders and one for business customers. The free offer with the demo is an addition. How to use Kukoin exchange? Step by step guide

How to use Kukoin exchange? Step by step guide
How to use Kukoin exchange? Step by step guide

How to use the KuCoin exchange? Video and pictorial narration

How to use Kukoin exchange Step by step guide 1
How to use Kukoin exchange Step by step guide 1

How to use Kukoin exchange Step by step guide 2
How to use Kukoin exchange Step by step guide 2

The Process Of Registering On The KuCoin

At the top of the KuCoin webpage is the word, Register. A small window opens after a click. This registration can be done in two ways, once by mail and once by a smartphone. E-mail or phone number must be valid. When it comes to the phone, we do not recommend a landline, but a cell phone. A code is sent. There is a link in the mail. It will only be sent after the interested customer has agreed that he has read the terms of use and accepts them. Click on the Next button. In the second step, you enter a security code and confirm it. Later some personal information can be given in the account area.

KuCoin: The Trading Networks For Crypto Trading

Over 300 different trading pairs are available for trading at KuCoin. There are more than 30 currencies, although this number can undoubtedly change. Everything is prepared for beginners, there is a special guide for new customers. A special name for the network used for trading could not be found in this test. It seems realistic to speak of a specially created KuCoin trader. In any case, the platform is easy to understand.

There Are Security Standards

The KuCoin is SSL encrypted. This is the first sign of security. If the cones are first created using codes that are sent to a cell phone, for example, this also makes a good impression. An important fact is the so-called 2 FA. For this, a smartphone or a PC is required from the customer, who has to confirm twice that he or she is a real user. We have not become aware of any facts that speak against the security regulations at KuCoin. Otherwise: There is the possibility to try KuCoin for free. This is a serious offer. And a factor that we classify KuCoin as serious. The tradition mentioned, customers all over the world, the language, activities in social platforms, and that KuCoin adheres to personal information protection, youth protection, and so on, can also be mentioned at this point. The page is encrypted, which can also be said about any account.

Costs Incurred For Customers

Registration with KuCoin and a deposit are free. However, fees are charged for trading. How much they will depend on the currency selected. A min. of 0.1% per transaction can be expected. However, anyone who uses the KCS mechanism can count on a discount. Unfortunately, withdrawals entail additional costs. Under certain circumstances, these can be around 50% for small amounts, which is remarkably high. The more that is paid out, the less KuCoin charges. A detailed list can be found on the KuCoin page under the heading fee structure. We have our doubts that the advertisement of being particularly cheap corresponds to reality.

As mentioned, the KuCoin page is offered in various languages if the customer sets this up. You can see that at first glance through various English-language sentences. It is certainly interesting to see how many trades there are per day and how high the volume is in dollars. On the other hand, these numbers are difficult to understand and everything must be viewed as advertising. Current courses on the homepage are informative, but apart from that, there is mainly a variety of data. At the top you can set everything in terms of markets, there is the area of ​​buying cryptocurrencies, the stock exchange, the heading margin, and earning. Everything is designed for beginners, they say. That can be understood. From an objective point of view, there is no reason for criticism in terms of the colors. Here and there, however, there is a need for improvement. On a page for the topic described on this page, it is possible that a provider reports prices: KuCoin is not one of them. This can either mean that there was none or that they should not be advertised. Both are legitimate. Awards and accolades are not the regular ones. And even if many competitors can show this that does not have to speak against KuCoin. Because the market is fiercely competitive. In other words, there is a lot of competition competing with the KuCoin broker.

Available Payment Options

Fiat currencies cannot be used for payments with KuCoin. That's one of the downsides. If you don't know what fiat currencies are, it should be said that the dollar and the euro fall into this group. At KuCoin everything is done with cryptocurrencies, so cards, a regular account, or providers do not play a role. Everything runs through a wallet in which Bitcoin or other cryptocurrencies are stored. The credit card may also be a variant for these, but that should only be mentioned in passing. In principle, the money migrates from the crypto exchange into the purse at KuCoin and can be used.

What KuCoin Offers Besides The Trading Options

The platform is KuCoin’s greatest strength. The fact that it was set up for foreign customers in November can be seen as an advantage. In this platform, customers connect. This makes trading easier and promotes the exchange of data. Of course, foreign customers can also join the English-speaking community. This is easily possible on the page and with the application.

Latest News and More

The latest news is presented on the KuCoin page, 95 % in English. They are informative and can have advantages for dealers. There is of course no obligation to read all of them. That is up to you. Specific seminars, tutorials, and the like cannot be reported, but there are good explanations. For this reason, too, KuCoin is often judged that it is an exchange for beginners. As mentioned, a free test is possible after clicking on "Try it for free". A wallet for cryptocurrencies must also be available for this test.

Develop Your Own Strategy For Crypto Trading

As a crypto trader, one should try to get to know the different forms of these products. As mentioned, Bitcoin is the well-known one. In a foreign exchange market, one keeps track of how a cryptocurrency compares to real currencies. So dollars, euros and so on. Even if they don't actually play a role at KuCoin and the focus is on cryptocurrency pairs. In fact, their courses are based on other courses. And nobody knows what innovations KuCoin will present in the future. In principle, one can assume that certain effects such as inflation in cryptocurrencies are negligible. Without a doubt, the financial product is not tied to any country in which such inflationary movements can be observed and even measured. Anyone who develops their own strategy can neglect this fact as a consequence. This actually applies to all cryptocurrencies. Many traders have achieved enormous returns with these. Even with KuCoin. But there is no way that basically leads to success. Everyone interested has to develop their own strategy and gain experience.

No Known Awards

During a comprehensive review of KuCoin, we wanted to find out whether there have been any awards in the past. This can be an important criterion under certain circumstances. However, they are not the basics in the area described here. Probably for this reason we did not discover anything at KuCoin. As indicated earlier.

What Could Speak Against KuCoin

As indicated, intensive research did not lead to the result that there is a need to warn against KuCoin. Only the fact that investment on this site can lead to a loss of the deposits has to be mentioned. Every trader needs to consider whether he or she understands how it all works and whether one can afford the high risk of loss for the money. KuCoin competitors have higher numbers, at least some.

Profits and Losses Are Possible

Every KuCoin customer should note that profits can only be made if private predictions come true. If this is not the case, losses are written. This explains why notices about possible risks have to be read over and over again. Fortunately, there are opportunities in crypto trading that promise a certain level of security. Among other things, you can set limits or choose a small amount of capital. Even with KuCoin. This is the right course of action, especially for beginners. In principle, the trading explained here is similar to regular currency trading. Those who are experienced in this have advantages. Not all is the same, however. This is due to the other framework conditions. While you have to rely on the decisions of banks and financial institutions for actual currencies such as dollars, euros, etc., crypto trading is determined by other processes. Good brokers and platforms like KuCoin explain which ones exactly.

KuCoin made a good impression on us in this test. There is a lot on offer and there is a realistic possibility of making money by buying and selling various cryptocurrencies. The language is actually used quite perfectly, which cannot be said about all of KuCoin’s competitors. When it comes to KuCoin fees, nothing unusual is required of customers. Of course, if you are interested you have to know that a loss is possible. This applies to every comparable offer, not exclusively to KuCoin, as we always emphasize in such a test. For this reason: We consider KuCoin to be a good opportunity.

When using KuCoin, costs arise as fees if a user wants to buy or sell a cryptocurrency. Like many other exchanges for cryptocurrencies, the KuCoin system also lives on income that it earns in the shape of commission fees.

In contrast to most other file-sharing exchanges, KuCoin offers two advantages. First, the KuCoin costs are very low. However, they can be further reduced by acquiring KCS. This is the abbreviation for the cryptocurrency KuCoin Shares developed by KuCoin. KCS is based on the ERC20 regulation for Ethereum. There are currently around 200 million KCS in traffic. The company plans to buy tokens with 50% of its transaction fee income each quarter and then destroy them. These withdrawals should continue until a complete of 100 million KCS are destroyed. The KCS tokens can be purchased directly on the crypto exchange with Bitcoin or dollars.

If you have any questions or issues, a multilingual customer offer is available, which is actually available 24 hours a day. This is particularly useful when compared to other networks, where a response can sometimes take several days. If you still prefer an email provider, this is also offered by the site.

The Exchange For Smaller Cryptocurrencies

The KuCoin crypto exchange is a swap exchange for smaller cryptocurrencies. So if you already know that you no longer want to trade as Bitcoin and Ripple and are looking for a currency that is as simple as possible, for rich portals. These often only trade in the largest cryptocurrencies such as Bitcoin. With KuCoin, however, you have significantly more chances and can bet in new currencies with as yet untapped potential.

Author: Emre Ata Author LinkedIn

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