KuCoin Review

To purchase bitcoin and altcoins, users can turn to centralized platforms. One of these is the KuCoin cryptocurrency exchange, which has been operating since 2017.

Over the past time, the company has gone from a promising project to a popular crypto exchange, which is on the list of leaders in terms of daily trading volumes. Attractiveness is added by its own token, the owners of which pay a reduced by 2 times commission and participate in the daily distribution of part of the profit.

KuCoin Services

In addition to spot and margin trading, the company offers the following opportunities:

• P2P transactions.
• Transactions with derivatives.
• Landing.
• Quick purchase of tokens for fiat money.
• Investment.

Features of the KuCoin exchange

According to the CoinMarketCap resource, this site is included in the list of platforms with the largest daily trading volume (5th place). Nowadays, the number of users exceeds 20 million, and the average daily turnover reached $1,114,352,825.

History of KuCoin Crypto Exchange

Work on the development of the KuCoin crypto exchange began in 2013, led by Chinese expert Michael Gan, and continued until 2017. At first, the platform operated under the jurisdiction of Hong Kong, then it was re-registered in Seychelles.

Regulation

The resource is not under official control authority, since the company is registered under the jurisdiction of Seychelles. This allows the founders not to go through licensing and legal checks. However, this reduces the level of trust on the part of people, but at the same time, it is an advantage. After all, it is possible to participate in the trades without verifying the identity and at risk of being sanctioned by government agencies.

Available cryptocurrencies and popular trading pairs

According to the KuCoin official website, there are more than 700 cryptocurrencies available on the exchange. The largest trading volumes on the spot market fall on the following pairs:

• ETH/USDT — 24,35%
• BTC/USDT — 21,82%
• MATIC/USDT — 3,56%
• SOL/USDT — 2,64%
• ETC/USDT — 1,81%

Among the derivatives, the main cryptocurrency pair XBT/USDT is in the lead. The second place belongs to ETH/USDT. The pair LUNA/USDT closes the top three.

KuCoin token — KCS

The KuCoin platform has its own eponymous coin with the ticker KCS. The initial offering (ICO) took place on September 1, 2017. A total of 200 million tokens were issued. The owners of the company quarterly repurchase and burn part of the coins. As of June 2021, the total number of tokens was approximately 170 million, of which about 47% were in free circulation.

Nowadays, the coin occupies 51st place in the list of digital assets by capitalization.

KCS is used to reduce commissions during exchange transactions, and participate in a partial distribution of the company’s daily profits.

Order types

Traders can open the following types of orders on the crypto exchange:

Limit — with the set order execution level.

Market — with the closing of the transaction at the rate.

Stop market — with the execution of the order at the current price after reaching the designated stop price.

Stop limit — with the opening of a transaction at a set level, which will be reached after the penetration of the stop price specified in the order.

Mobile app

Users are offered to install a mobile application for use on a phone with Android and iOS. They can download it in the App Store, Google Play, or on the official website of the KuCoin exchange.

Bonuses

KuCoin offers traders additional opportunities to earn money:

• Referral program.
• Incentives for completing tasks and participating in competitions.
• The reward for buying and holding KCS tokens.

The crypto exchange does not have a bonus for creating an account for beginners. However, there is an offer for KuCoin Token holders. Every day, rewards are distributed among its owners, which take 50% of the commissions earned by the company. The amount of the payout is affected by the number of tokens held. A daily snapshot of the balances and distribution is made at a specific time.

Trading on KuCoin

Various types of trading are available on the crypto exchange:

• Spot trading.
• Margin trading.
• Buying derivatives.
• P2P transactions.

A list of all methods is displayed in the main menu of the site.

Spot trading

The main type of trade on the cryptocurrency exchange is the purchase or sale of coins at the current or expected price. Such trades are called spot transactions. Unlike margin trading, a trader can only use the funds available in the account.

When spot trading, it is possible to use all types of orders. At the same time, limit and stop-limit orders have an extended mode, which is activated by pressing the “Settings” button.

Opportunities:

• Enable or disable the post-only option. It regulates the procedure for executing an order in the absence of the required amount of liquidity. If post-only is enabled, the order will only work if it is possible to complete it at the selected price.
• Set the Time in force mode, which determines the validity period of the order.
• Apply for hidden “iceberg” orders. In this case, the resource will not know the person’s intentions until the request is executed.

Margin trading

To carry out trades with leverage, you must sequentially perform 4 steps:

• Transfer money to an account for margin trading.
• Borrow funds or coins from the funding market.
• Open order for the purchase/sale of assets.
• After the trade is completed, return the borrowed money and pay the accrued interest.
• The maximum amount of leverage in the margin market is 10. For example, if you have 100 BTC on your deposit, you can make transactions worth up to 1000 bitcoins.

P2P

On KuCoin, users can buy cryptocurrency with fiat money. The P2P service allows you to use dollars, euros, and other currencies (more than 100 options in total). You can apply for a purchase or select an existing offer from other participants in a separate section.

Buy and sell orders are executed through PayPal, Perfect Money, other popular payment systems, and bank transfers.

On average, the commission of intermediaries is 1–10% of the exchange currency’s nominal value. For example, the exchange rate of a cash dollar against the USDT token is about 1.01–1.02.

The P2P section contains the following tabs:

• Buy. This is where other people’s offers to exchange cryptocurrencies for fiat money are displayed.
• Sell. This tab allows you to select a request for payment through popular payment systems.
• My orders. This page stores the history of P2P transactions and current open requests.

At the top of the “Buy” and “Sell” tabs, you can select the assets of interest. Trades with USDT, USDC, BTC, ETH, and KCS are available in the P2P service.

Derivatives

In July 2019, KuCoin introduced the new KuMEX platform. It allows to conclude perpetual futures contracts of the following types:

• USDT-M (base currency — USDT), a choice of more than 20 cryptocurrency assets, including BTC, XRP, BCH, and EOS.
• Coin-M (the contract is denominated in Bitcoin), as of June 2021, operations with futures on BTC, XRP, DOT, and ETH are possible.

Derivatives trading allows leverage up to X100. Futures contracts are characterized by a low (compared to other types) commission rate. However, one should take into account the high risk that is associated with raising borrowed funds.

Buying cryptocurrencies with fiat

Since 2019, the company has been cooperating with the Simplex portal. The partnership of the two systems allows customers to link bank cards to their accounts and make deposits from them for instant exchange for cryptocurrency. Traders can also buy BTC with money deposited through SEPA and Apple Pay. For fiat money, you can buy not only Bitcoin but also other popular coins: ETH, XRP, BCH, and about 20 more altcoins.

Additional opportunities for earning on KuCoin

In addition to exchange operations, the exchange for online cryptocurrency trading KuCoin offers tools for generating additional income:

• Landing.
• Staking.

Landing

KuCoin crypto exchange has created its own loan service, where you can lend the main popular coins at interest. The daily rate for BTC ranges from 0.02% to 2%. On an annualized basis, this can bring in more than 720% of income. The specifics of the landing here are the fixed terms of depositing funds — 7, 14, or 28 days. This simplifies the financial analysis of loans and makes investment predictable. At the end of the term, the user will again be able to manage his funds.

Staking

To earn money on the storage of coins, which are based on the PoS algorithm, a subsidiary project Pool-X was created. As of June 2021, it offers over 15 staking tools. An important feature of Pool-X is the ability to use deposited tokens in exchange transactions. This allows a crypto trader to earn money both on staking and on an exchange at the same time.

The registration process on KuCoin

The user agreement allows registration only for adults. Identity verification is not a prerequisite, but technical support will easily block an account if they suspect it of re-registration after a ban or fraud. At the same time, the site reserves the right to control everything that happens and request clarifications or additional documents from those users whose actions are suspicious.

To start trading on the exchange, users must go through the registration procedure. It includes the following five steps:

• Linking a phone number or email address.
• Enter a confirmation code. A one-time password is valid for a limited period of time (10 minutes), during this period you need to enter it in the appropriate box.
• Setting a login password.
• Confirmation of agreement.
• Authorization in the system.

Identity verification

As we have already mentioned above, the KuCoin cryptocurrency exchange allows the use of the site without identifying the client. However, the company increases the limits on daily trading volume, withdrawal of money, and maximum leverage in the futures market for those who have passed the verification procedure (KYC). There are three types of verification:

• KYC1 (first level). For verification, you need to fill out a questionnaire and indicate your name and passport data.
• KYC2 (second level). Increases the provided limits on trading and exchange operations. To pass it, you need to upload scans of identification documents. The verification process usually takes up to 1 business day.
• Institutional check. This type of verification is required to register a legal entity as a client and include its own tokens in the listing.

Account security and protection

The cryptocurrency platform positions itself as a reliable platform for storing funds. At the end of September 2020, a single hack was recorded by hackers. The attackers gained access to the platform’s hot wallets and were able to withdraw assets totaling $150 million. Full system recovery took up to 2 months. The crypto exchange compensated for the losses from the stabilization fund, while most of the stolen money was returned. There were no other burglary incidents.

Users’ accounts are securely protected as their security is ensured by:

• Authorization in the system by login and password.
• Two-step verification via Google Authenticator (GA) or code from SMS (customer’s choice).
• Conducting transactions only after entering a password.
• A security phrase (excludes the theft of personal data under the guise of an official email message).

To protect the user’s account, it is recommended to configure and apply all of the above security methods.

In addition, traders can use the Cryptorobotics platform to trade on KuCoin and use various features of both the platform itself and the exchange. Another 14 large crypto exchanges are integrated into the platform, so the user can trade on several exchanges from a single interface.

Let’s take a closer look at how to start trading on KuCoin via Cryptorobotics and what features of the platform are available for this exchange.

What Cryptorobotics trading tools are available on KuCoin?

KuCoin trading bots

KuCoin trading bots is a program that can independently monitor the market trend and decide when to enter and exit a trade based on technical analysis. KuCoin trading bots are designed to automate trading strategies and open orders on their own, even if the trader is not in the terminal. Traders only need to configure a few settings before they start using one of the KuCoin bots on the Cryptorobotics platform.

Types of KuCoin trading bots on the Cryptorobotics platform:

• Optimus
• Cyberbot
• Crypto Future
• Channeler AI
• Trade Holder

Crypto signals

The Cryptorobotics platform allows traders to receive analysts’ signals that provide information about when to open or close trades, as well as monitor the performance of these trades from a single interface. Crypto signals are fully automated features that make the trading process more profitable and limit the risk of a deposit drawdown.

Autofollowing

Autofollowing is an automated tool for trading cryptocurrencies using a bot that receives and processes signals from analysts. Then the bot starts to open trades and make a profit. Traders set up this feature once, after which they only need to track statistics and make a profit from trades.

Copytrading

Copytrading means copying all trades of a professional trader. This tool is perfect for newcomers in the market who do not know how the market functions and have not created their own trading strategy. Some experienced traders also use Copytrading to save time and analyze the market deeply.

Additional functions

Traders can also customize the additional functions that help minimize risks, limit losses, and increase returns. We can highlight Among them the following ones:

• OCOs, or smart orders (Stop Loss, Take Profit, and Trailing)
• Ladder smart orders, StepBuy and StepSell
• Limit orders
• Stop-limit order
• Market order
• Alerts

Why is it worth using the Cryptorobotics functions for crypto trading on KuCoin?

• Free
• Reasonable prices for advanced features
• Easy customization of crypto trading functions
• A wide selection of digital coins and crypto pairs
• Trading around the clock
• The platform supports 15 best crypto exchanges
• Fast and smooth platform operation
• Available manual and algorithmic trading
• Secure
• Support 24/7

How to trade on KuCoin via the Cryptorobotics platform?

To start trading on KuCoin via Cryptorobotics, users should follow these steps:

• Register.
• Create an account on KuCoin.
• Link created an account to the Cryptorobotics platform.
• Customize the necessary features.
• Start to trade.

Fees

The amount of the commission depends on the trading volumes for the last 30 days and the type of trading (maker/taker). This amount affects the levels of a crypto trader, of which there are only 12. A user with an initial status of LV0 is charged 0.1% of the transaction amount from both the maker and the taker. As the status increases, the rates change and can even take negative values. When using KCS tokens to pay commission, the amount of funds withheld is also reduced.

When making deposits, crypto assets are credited to the account in full. Each coin has its own commission and withdrawal limit. They can be viewed by clicking on the corresponding tab “Commission” in the footer of the site.

Conclusion

KuCoin is one of the top ten largest trading platforms. This project was founded in 2017 and currently has about 18 million users worldwide. Nowadays, the exchange allows traders to use a huge number of opportunities like spot trading, margin trading, futures trading, P2P fiat trading, staking, and lending.

The advantages of this site are:

• High liquidity.
• Reliability and safety.
• A wide range of crypto trading functions.

KuCoin has been named one of the best crypto exchanges of 2021 by “Forbes”. In 2022, this crypto exchange was named the best crypto app for enthusiasts by “The Ascent”.