KuCoin is a global and best crypto exchange that offers multiple trading options to its eight million users. This includes spot, margin, futures, P2P trading, lending, and staking. It claims to offer the most advanced security and a choice of nearly 400 cryptos. Despite the various features, it is a beginner-friendly crypto exchange with a sleek and easy-to-use interface. The exchange also charges the lowest fees in the crypto industry.
Since its establishment, the exchange has expanded its services, serving over countries with more than 300 employees. Currently, the crypto exchange has global branches throughout the UK, India, Canada, Singapore, Japan, and Turkey.
The KuCoin Commerce website has been translated into 17 languages, including English, Russian, South Korean, Hindi, Turkish, German, Chinese, and French, to cater to different nationalities. Moreover, this Crypto Exchange is the best crypto exchange with a wide range of assets and services, many users, high liquidity, and low trading fees. Meanwhile, as of October 2020, the site has more than 5 million active users.
Although the technical framework for the KuCoin exchange was designed in 2013, it became fully operational in 2017. Crypto Exchange was founded by Michael Gan and Eric Dan and is headquartered in Seychelles.
The crypto exchange of KuCoin was funded by an initial currency offering ICO conducted from August 13 to September 1, 2017. During the ICO, the price of many popular crypto exchange tokens, including KuCoin’s native coin, KCS, was on a bullish trend.
Moreover, with the circulating supply of 80,118,638 KuCoin Shares, the exchange rewards KCS holders with a daily bonus. KuCoin tends to list small-cap cryptos with large growth potential. In addition, it provides access to a large number of tokens, including lesser-known coins. Also, it has a very generous profit-sharing incentive; up to 90% of the trade fee is refunded to KCS holders.
Pros and Cons of KuCoin Crypto Exchange
Strong customer base.
More than 400 trading pairs make the platform one of the best crypto exchanges for Altcoin trading.
Good customer support service.
Supported the mobile app on iOS and Android devices.
Allows Ethereum 2.0 Staking.
Limited payment methods.
Cannot withdraw fiat currencies.
High fees when buying crypto with fiat (3%-12%).
Not licensed in the US.
Is KuCoin safe for trading?
KuCoin has partnered with Onchain Custodian to protect the crypto assets stored in its transaction. This includes Lockton insurance against crimes such as hacking. It also has a bug bounty scheme to encourage ethical hackers to report any vulnerabilities in the system.
KuCoin claims customer assets are hard to hack because they are stored offline in cold storage. But it does not say what percentage is kept offline. KuCoin Hot Wallets need to have funds online for customers to withdraw and trade, but it can be helpful to know what percentage is kept and where.
KuCoin also has excellent user-level security. The site encourages users to set a two-factor authentication and additional password for the business. Users can set security phrases that appear in any emails from KuCoin to help protect you from hackers.
As a whole, KuCoin is a popular and best crypto exchange platform that brings complex trading operations in the palm of your hand. Understanding a startup gap is simple and offers investors the opportunity to earn a steady return, with KuCoin being ranked in the Forbes list of the best crypto exchanges in August 2021. There are tons of coins to buy, sell and trade. So, KuCoin is a good place to start trading crypto for beginners.