KuCoin – Is It Good?
Based in Hong Kong, KuCoin is a massive exchange platform with an impressive variety of alt-coins. It is also one of the very few that gives rewards to recurrent clients with its own cryptocurrency, KCS. This cryptocurrency can not only be used as an alt-coin in their website, it also gives discounts on their fees and can even become a passive income option.
However, KuCoin is relatively new and with their increased popularity, their team has had a hard time keeping up with the traffic. Since they’re based in Hong Kong, English support can also be hard to get.
So how good is KuCoin? Is KuCoin trustworthy? How do you trade in the platform? And, most importantly, how does it stack up against other platforms?
What Does KuCoin provide?
KuCoin has been gaining popularity and traction since early 2017. You’ll find a LOT of alt-coins available as well as Bitcoin with only one caveat: there’s no fiat option for you on the website.
That’s right, every single transaction you make has to be made in crypto. This revolutionary approach is a sign of more and more people trusting more in cryptocurrencies (even relatively unknown) than in fiat. However this does make things slightly harder for the beginner who may not have any crypto just yet.
However a huge positive thing about KuCoin is that you don’t need to verify your account. All you have to do is go to KuCoin and sign up. Make sure you don’t skip the 2FA step for extra security. Then add some funds from your wallet to your account to start trading, that being BTC, ETH, BCH or any other popular alt for easy trading. If you don’t have a wallet, visit here to find out the best option for you. Once the funds are in your account, go to “Markets” and select the alt-coin to start trading! With their impressive amount of pairings you’ll definitely have a lot to choose from.
Another great thing about KuCoin is their loyalty program where they reward you with KuCoin shares. KuCoin shares (or KCS) can be held to receive discounts while trading. For every 1000 KCS, you receive a 1% discount that can be amounted up to 30%. The more you hold, the more you save!
And there are more reasons to hold it since KuCoin pays out 50% of all fee revenue from the platform each day, which is equally divided between every KCS token held on the platform, earning you daily passive income. And if you need to exchange them, KCS can be exchanged for other of their 100+ cryptocurrencies in their platform. Their unique cryptocurrency and its features is definitely one of the biggest differences between KuCoin and other platforms.
KuCoin Rates and Buying Limits
Kucoin doesn’t charge anything for deposits, you can deposit any amount for free. If you’re withdrawing your fees will depend on the crypto you’re using, here’s the fee structure. Besides that you’ll only be paying a trading fee:
KuCoin fee: 0.1%
Now remember, that’s the largest amount you pay. The more KuCoin shares you have, the more you save so you can get as much of a 30% discount on that 0.1% which brings the fee down to a ridiculous 0.07%. That’s a low fee for sure.
- Anonymous: If you’re looking for an anonymous way to exchange your crypto to other alts, KuCoin is the way to go.
- Lots of alt-coins: With well over 100 options, you can become an early adopter of alt-coins easily.
- No verification required: Trade your crypto anonymously.
- Low fees: Even without discounts, a 0.1% fee and free deposits are definitely way below average.
- KuCoin Shares: Anyone with over 1,000 KCS will receive both a discount on their 0.1% trading fee and a passive income from KuCoin’s 50% daily revenue.
- No fiat options: Although revolutionary, it will definitely be an inconvenience for anyone looking to trade their fiat.
- Relatively new: KuCoin hasn’t had the chance to prove itself just yet.
- Site slows down at busy times: Since they’ve been growing so fast, it’s no surprise that they’ve been having issues to keep up with their traffic.
Go to KuCoin
Is KuCoin Good For Bitcoin?
KuCoin is a great bitcoin exchange platform for anyone who wants an anonymous way to trade their crypto into other cryptocurrency options. It’s great for early adopters and for beginners—as long as they already own cryptocurrency.
They’re trying to compensate the fact that they’re late to the cryptocurrency game by offering some amazing features. Our favorite is definitely their KuCoin shares which can earn you passive income just by holding them. And with the increased popularity of the exchange, the earlier you start to get KCS the better! We however hope to see them increase their website capabilities to support the traffic they’ve been getting.