Anyone looking to use the exchange should know a brief KuCoin review so they can get a good understanding of the kind of features offered. It is always important for novice parties to gather as much information about a platform as possible to make an informed decision and choose the most suitable platform.
Every cryptocurrency exchange offers something different to the users. The fee structure, safety features and more all vary from one platform to another. It is also essential to know that every crypto exchange isn’t suitable for beginners and experts as they may have a complex user interface.
Therefore, if you are interested in using a new exchange such as KuCoin then here is a brief KuCoin exchange review that talks about some major aspects of the platform.
KuCoin Review – Safety and Security
Safety is the first and foremost concern that you should have as a potential user of any platform. The crypto space is a volatile and unpredictable place and every crypto exchange available is not 100% safe and secure. Stepping into the crypto space and starting crypto trading or investing comes with its risks, which cannot be completely eliminated.
However, the risks can be significantly limited if the crypto investors or traders use a safe and secure platform.
If you are new to the crypto space it is essential for you to know that the KuCoin exchange is one of the safest platforms in the market. It uses several leading-edge security systems that ensure the funds and accounts of the users are kept safe from any kind of cyber threat.
Here are some of the security systems mentioned in this brief KuCoin review.
- KYC (know your customer) verification
- Multi-signature offline crypto vaults
- Two-factor authentication system
- Web security
Available Digital Currencies
The KuCoin exchange is one of the most popular ones in the market for several reasons. One of them being the availability of a wide array of digital assets. This is one of the factors that makes it stand out among other platforms.
A crypto exchange that offers support to a vast variety of digital assets. It is seen to be powerful and capable of handling a large audience.
Therefore, if you are interested in using this exchange. You should know that you can trade, buy or sell more than 200 digital assets on the exchange. It also offers the opportunity for people to create a diverse portfolio as it has access to assets from more than 400 markets.
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Margin and Futures Trading
This brief KuCoin review also focuses on the types of trading supported by the platform. Which is not just margin but futures as well.
Margin trading is one of the most popular types of crypto trading that is both beneficial and highly risky. It enables the users to trade borrowed funds and place bigger trades, which can go either way. Even though this exchange does not offer a very high leverage for trading. It is one of the best and safest ones.
At the moment, you can trade 15 digital currencies on the exchange with up to 10x leverage.
On the other hand, the KuCoin exchange also supports futures trading with a leverage as high as 100x. If you use this exchange, you can only trade crypto-to-crypto and cannot trade fiat-to-crypto.
Lending Crypto on the Exchange
Another outstanding aspect of the exchange mentioned in this brief KuCoin review. Is that it enables the users to opt for crypto lending.
In crypto lending, you can lend the crypto you own to crypto traders who want to engage in margin trading. In return for lending the crypto, you can get an average daily interest at a rate of 0.124%.
Fees Charged by KuCoin
The fee structure of an exchange is one of the topmost factors that you need to look at before you choose any platform. This is a major factor that should not be overlooked. Because the trustworthiness of an exchange can be determined from the fairness and transparency of its fee structure.
Therefore, if you intend on using the KuCoin exchange you should know that the trading fees on the platform is based on the marker maker and taker model.
There are various bonuses available for the users as well.
There is no deposit fee and the withdrawal fee charged by the exchange is around 0.0005 BTC.
KuCoin is one of the cryptocurrency platforms in the market that is known all around the globe. However, if you are new to the crypto space and want to use this exchange then you should know the details mentioned in the brief KuCoin review above.