KuCoin is a top-quality blockchain asset exchange, also referred to by the name “The People’s Exchange.” With over 200 cryptocurrencies available, KuCoin provides an exchange service to users that lets them conduct digital asset transactions safely and effectively.
How does KuCoin work?
KuCoin lets you purchase or sell an array of cryptocurrencies. It comes with a web-based interface and an app for mobile phones that is popular. It is possible to purchase KuCoin’s native currency (KCS) to cut down on costs and get rewards.
The verification process for accounts is not required, and users can exchange crypto using just their email address. But, as discussed earlier, in order to take advantage of its sophisticated features, you’ll have to confirm your account. In addition, Americans aren’t able to accomplish this because of U.S. crypto regulations.
KuCoin provides custodial as well as non-custodial options. You can choose to save your crypto assets directly via the KuCoin exchange or connect directly with a third-party wallet and trade directly from it. This is an ideal alternative for those who want to control their cryptocurrency.
KuCoin offers a few not-so-common features, including leverage, trading bots, and margin.
This cryptocurrency exchange is an ideal fit for experienced non-U.S. crypto traders who wish to access additional coins and more advanced features.
KuCoin: Pros and Cons
- Low cost
- A large user base
- A wide range of coins
- Earn interest on your cryptocurrency by earning interest on your cryptocurrency.
- Advanced features for trading.
- Good customer service.
- Not legal in the united states
- Payment methods that are limited
- It is not appropriate for inexperienced traders.
- Educational resources are not as extensive.
With a credit card, you can purchase cryptocurrency on Kucoin.
Here’s how you can buy Bitcoin or any other cryptocurrency using Kucoin.
In the beginning, you’ll need to sign up with Kucoin, so follow this link to create an account.
After completing the easy registration steps, which are simple and easy to follow, you’ll be taken to the main page, which will be “Overview.” The navigation menu can be found on the left side, and the settings for your profile can be found at the top right, where you should make sure that you read through them and become familiar with the various options.
The “Buy Crypto using a Credit Card” option is on the left-hand side of this page. When you click “Buy Now,” you will be taken to the page where you can select the currency and the amount you wish to exchange it for. The fee will be shown so that there is no confusion about what you’ll be charged.
By default, you’ll see BTC (the symbol that represents Bitcoin) on the first bar, but if you want to purchase Ethereum, as an example, simply select the drop-menu (see the screenshot below). The list of cryptocurrency that you can purchase on Kucoin Exchange currently is: BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), XRP (Ripple) and BCHABC (Bitcoin Cash) (this is distinct from Bitcoin and Bitcoin Cash, so don’t get caught up in the confusion).
If you have not entered the credit card information prior to performing the exchange, you’ll be asked to enter it at your next stage.
Once you’ve made your purchase, you can also trade it on the exchange for different coins. If you’re not interested in trading and just want to purchase Bitcoin or any other cryptocurrency and store it for later use, simply withdraw the money and transfer it to a secure storage space, such as a physical wallet or any other you like.
The option to withdraw is available in the left menu of the main page (see the image below). There is a drop-down menu in which you can select the cryptocurrency that you would like to withdraw.
Choose the coin that you wish to withdraw, and you’ll get a more detailed page on which you must enter the address for your wallet as well as the amount of money you’re withdrawing.
If you make an error with the address, it’s likely that you’ll be notified about it, but ensure that you double-check your account’s address as well as the cryptocurrency you’re withdrawing. Make sure that everything is correct, as you do not want to transfer Ethereum to an address that is a Bitcoin address or anything similar to that.
It should be a simple process, and the first time might be somewhat intimidating or complicated. When you’ve seen how things function and you know that everything works as expected, it’s time to take the big leap and start working on bigger amounts. The cost isn’t high enough to justify the danger of working with huge amounts at first.
If you’re looking for a secure exchange that doesn’t charge withdrawal fees, Gemini stands out for its security-focused features and its commitment to the rules. The best part is that it allows 10 fee-free monthly withdrawals from cryptocurrency as well as paying no fees to transfer money using wire transfer.
If you’re looking to have a large selection of currencies offered by an authorized exchange, U.S. regulations mean that residents aren’t able to access as many cryptocurrencies. Yet, Coinbase has a good range of options, making it among the top well-known U.S. exchanges.