KuCoin: is it a good choice for traders and investors?
KuCoin is a young cryptocurrency exchange that opened in 2017 in China, and then changed its jurisdiction to Hong Kong. Over the past few years, this cryptocurrency exchange has managed to become one of the most famous and popular. Several factors have contributed to this, including the reliable protection of customer accounts from hacking and the introduction of unique systems for making money from digital coins.
The positive features of the exchange also include the absence of commissions for internal transfers between two different accounts. And KuCoin also opened the KuCoin Play bounty service, which helps many cryptocurrency enthusiasts make money on the bounty.
You can deposit your account on the exchange by cryptocurrency, bank card or bank transfer.
Verification on the KuCoin website is necessary to increase security, reduce the risks of fraud, terrorist financing and money laundering. It is a function for completing KYC certification, which allows for a larger limit for withdrawals from the system. Passing identity verification allows you to quickly and easily restore your account if it is lost or transferred to other people.
Types of trading orders
KuCoin exchange currently has 4 types of orders available:
Limit – an order to buy or sell at a fixed price or at a price better than a set price. In this type of order, the trader sets a specific price and the desired volume of buying or selling.
Market – an order to buy or sell at market price, takes liquidity from the market. When working with a market order, one can get a strong slippage, as a result, the average buy/sell price can differ greatly for the worse.
Stop Limit is an order with a condition and limit execution. A stop sell order is triggered when the market price decreases to the price you set.
A market stop is an order with a condition and market execution. All logic of work is similar to the previous type of the order, but the execution occurs not at the limit, and to the market price.
Commissions on KuCoin
On the KuCoin exchange rather complicated scheme of commission levels, as the commission depends on three factors: the availability of the membership card, the number of KuCoin Shares held over the past 30 days, the volume of trade over the past 30 days. KuCoin Shares fees can also reduce their size by an average of 20%.
The cryptocurrency exchange KuCoin has recently opened the possibility of margin trading with up to 10x leverage. If a trader has 1,000 USDT in his account, he can open positions 10 times more – for $10,000.
Futures trading is also available through the exchange division, called KuMex. Now perpetual and quarterly futures contracts are available for trading.
The exchange also has intra-exchange tokens KuCoin Shares (ticker KCS). Possession of these tokens gives some preferences for certain transactions on the exchange, as well as allows receiving a dividend income. For example, KCS holders receive a discount on trade commissions, the opportunity to participate in IEO at KuCoin Spotlight.
KuCoin has a mobile app, via which you can also make all the basic exchange transactions.
These are the main features of the exchange KuCoin. We should add that it is quite reliable, convenient and functional mechanism for working with cryptocurrency. Register on the exchange today and enjoy all its services!