Much has changed since the introduction of Bitcoin in 2009. The prices have been fluctuating wildly until now and rumors about Bitcoin price being artificially inflated by groups of affiliated individuals were frequently seen in related headlines. However, despite efforts of regulators and central bank authorities noting could simply stop the growing demand for cryptocurrencies. That is why so many exchanges have been appearing swiftly and in abundance.
Now that the common folk have started to understand the potential of cryptocurrencies, many individuals are faced with hard choice when it comes to choosing the right exchange. Kukoin is one of such exchanges. Is a multicryptocurrency exchange with Service centers based in China. Kucoin offers trading pairs such as BTC/BCH, BTC/DASH, BTC/NEO, BTC/ETH, BTC/RDN, BTC/LTC, BTC/CVC, BTC/KCS, BTC/RPX, etc. It also provides users with a mobile app available for iOS and Android.
Before getting straight into action and transferring your funds to any trading company, may it be it online or offline institution, it is always worth to make some research or do some asking around. Anyone can make false promises or use questionable advertising practices to lure customers into trap. Unfortunately, Kucoin com does not seem to have solid reputation behind their backs. Their website does not have any registered physical addresses nor does company provide any clues as to their whereabouts. We have mentioned above that the company has operations in China, which we have been able to understand after scoping through numerous forums. As such, by signing to deal with Kucoin you will be dealing with unregulated company.
However, there is some advantage when dealing with similar companies. Unregulated entities like Kucoin do not require users to submit tons of personal information to start using their services. This will please many traders who are tired of cumbersome, multistage verification processes which take hours or even days to fully complete. We did some digging and have found nothing whatsoever putting the company in bad light in terms of security or transparency.
Now that we have covered basic some very basic information about the exchange let’s head straight into action and start registering an account with them. Creating an account with Kucoin is simple. Just click on “Sign up” button on the upper right corner of the home page. From there you will be redirected to the main registration page where you will be asked to fill the registration form. Nothing specific is required here, you will only need to submit your email, password for your account and an optional invitation code that you may have acquired from existing customers or promotions. After providing all the required information, you will have to click on the confirmation link sent to the email you provided. Once done, your account activation process will be fully complete.
On this stage you would probably ask about next stages of verification but the thing is there is no verification in the common sense of the word here. Yes, Kucoin do not have any verification levels compared to other exchanges that operate today. After dealing with multiple websites that require users to submit tons of personal information we were beaten out of countenance after realizing that we can actually skip this stage here.
If you are looking for a website that is not regulated and has the proper platform for BTC trade against another crypto then Kucoin may be the website for you!
In order to access Kucoin exchange platform, simply log into your trading account and select from five major coins they support. Click on the pairs and platform will load automatically. Trading platform has user-friendly look. It appears it was designed for novice traders above all others – everything is done to avoid confusion but with a nice selection of tools to guarantee smooth and pleasant trading process.
On the lower right-hand side of the exchange platform, you will see the orders tab wherein you will be able to place orders at. What’s great about their orders tab is that they have the automated “best price” being listed for the current price the coin is running against BTC. This comes in handy if you are a fast trader.
If you’re familiar with other websites you definitely know they don’t have similar feature and price has to be typed in manually. Manual option is possible here as well.
Buying or selling here is similar to other engages. Simple enter the price you with to buy or sell at and click the button. After that the order will be placed and shown under “Active Orders” in the middle part of the platform screen. Beside the Active Orders, tab is the “Dealt Orders” tab or where all the successful orders have been processed. Also remember that there is no option to trade cryptos against fiat money here. Kucoin is a BTC exchange only where you can trade Bitcoin against other digital currencies like Ether and Ripple.
Our general impression after spending a few days with the trading platform is that it doesn’t take a rocket scientist to understand how it works. They keep a surprisingly good balance between simplicity and functionality.
It goes without saying that before dealing with any services like online cryptocurrency exchange it would be vise to do some homework and learn how much it would cost you to use their services. As a rule of thumb, most of the unregulated exchanges would usually offer lower fees to compete with regulated exchanges which usually offer similar services but enact higher verification requirements.
As such, Kucoin charges very low fees of 0.1% for every transaction on the platform. Deposits are free of charge but some fees are charged upon withdrawals.
Withdrawal fees range from 0.0005 for BTC up to 50 DENT coins. Since they have around 80 coins to trade here, it would be a waste to mention everything here.
Deposits and Withdrawals
The only way to deposit funds to your Kucoin account is from your personal wallet. Simply click the assets tab in the upper part of the account page, choose deposit and withdraw tab and click on the digital currency you with to deposit or withdraw. The rest is pretty easy – you will be given a QR or unique wallet address which you can use to transfer funds from your personal wallet. Generally, everything is pretty straightforward here.
Is Kucoin Safe?
Since launching in 2017, Kucoin has been successfully providing services ot customers. Even though it is not regulated we have not been able to track anything substantially negative about the company. Some users have been complaining about support department not replying on time, but no mentioning of scam practices or delayed withdrawals. In general, they offer modern and secure crypto-to-crypto platform.
- Low trading and withdrawal fees
- Exchange platform is easy to understand
- Vast range of coins
- Easy account creation
- No Fiat transactions
- Does not accept bank/credit card deposits
- Margin trading not accepted