What is KuCoin? How to Register on KuCoin?
KuCoin is a cryptocurrency exchange established in September 2017. This is a global trading exchange, with its headquarters located in Singapore. As a relatively young exchange, KuCoin gained attention with the release of KuCoin Share (KCS) and then the introduction of the IEO KuCoin Spotlight selling platform at the end of March 2019.
Today, I am going to help you learn about the services and usage of Kucoin from A to Z.
What is Kucoin?
KuCoin is a cryptocurrency exchange that supports crypto-crypto trading. Currently, KuCoin supports over 400 trading pairs, pegging prices with Bitcoin (BTC), Ethereum (ETH), Stablecoin (USDT, DAI, PAX, USDC, TUSD), Kucoin Share (KCS), and NEO (NEO).
KuCoin used to have a public address in Hong Kong. However, in 2018, an office rumor in Hong Kong appeared completely empty and inactive. Prior to this information, the management team reaffirmed that KuCoin currently has more than 300 employees, with 4 main offices located in China, Philippines, Singapore and Thailand. In particular, Singapore is where KuCoin is registered and headquartered.
Legally, Kucoin chooses the laws and jurisdiction of the Republic of Seychelles.
Advantages of KuCoin
- KuCoin has a commission policy when inviting new people to register and trade on the exchange. The commission level that the invitee can achieve is as high as 20%. To get the ref link from KuCoin, visit this link: https://www.kucoin.com/assets/bonus
- Competitive transaction fee with only 0.1%. This number is similar to large exchanges like Binance.
- Native token name as KuCoin Share (KCS). Having KCS gives you a 50% discount on transaction fees. In addition, holding KCS on the exchange you will receive rewards from staking and KuMEX every day.
- KuCoin has launched an IEO open-selling platform – KuCoin Spotlight. The event of selling IEO on KuCoin attracted the same attention as the IEO selling platforms of other exchanges such as Binance Launchpad, Huobi Prime.
- KuCoin lists a variety of coins / tokens, with more than 400 trading pairs.
- KuCoin has upgraded to the platform 2.0 with more outstanding APIs, security, trading orders, and user-friendly interface.
Disadvantages of KuCoin
- Low trading volume, and not yet transparent. The adjusted volume of KuCoin exchange exchange is about 24 million USD and is in the top 100 large-cap exchanges according to Coinmarketcap statistics. However, the actual liquidity of the KuCoin exchange is in the range of 1-3 BTC.
- KuCoin exchange can be overloaded and slow if there is a lot of traffic.
How to register on KuCoin exchange
Step 1: To start registering for a KuCoin account, click this link: https://www.kucoin.com/.
Step 2: Click “Sign Up” as the picture above.
Step 3: Enter your email address to register for an account. Then, click “Send code”. KuCoin will send the verification code to the email you have registered.
You open your email, note, please double check the spam mailbox to get the verification code and fill out the request of KuCoin.
Step 5: The exchange will direct you to the step of “Setting login password”. Please fill in the required information as shown below.
If you register from a referral link, the referral code will automatically be filled in for you. After you register successfully, Kucoin will direct you to the exchange account page.
Thus, basically, you have successfully registered an account on Kucoin. You can start trading, buying and selling Bitcoin and Altcoin on the exchange.
However, to ensure account safety and to increase the withdrawal limit by more than 2 BTC / day, you should verify your account and security settings.
Verify KuCoin account (KYC)
In order to avoid the situation such as forgetting login credentials and the case that the account has been controlled by others (because you revealed information), the exchange always encourages users to complete verification. identity. Because, through identity verification information, the exchange can assist you to regain your account quickly.
Step 1: To verify your KuCoin account, first log in to your account, go to the “Account” section and select “Verify identity”.
There are two forms of identity verification: for personal and business accounts. Here I will guide you to verify personal account.
Step 2: Click on “Personal account”. Then, you fill in the information requested by KuCoin as shown below. Complete the basic information, click “Next” to move to the section provided “Certificate of identity”.
Step 3: You prepare 3 images to give to the exchange. Because in step 2 I use ID, so in this step I will provide a photo of the front, the back of the ID, and an image I hold the ID.
Please note that the 3rd photo needs to have the words “KuCoin” “Current date and time” (in the format of year – month – day) and ‘Your signature’.
Click “Upload” to post the required images one by one. Then, click “Next”.
Step 4: You provide additional information requested.
Complete the above steps and click submit to KuCoin to conduct a review of your profile. KYC results will be notified via email shortly.
How to Trade on KuCoin
Log in to www.kucoin.com, and click on the “Spot” tab.
You will enter the trading market. Depending on which tab you click on, you will see different markets. The options are Bitcoin (BTC), KuCoin Shares (KCS), Stable Coin (USDⓈ), and ALTS (Includes Ethereum (ETH) and Neo (NEO)). Not all tokens are paired into every market, and the prices may vary depending on the market you are looking at.
If you would like to use BTC to buy ETH, please select the BTC market and use the search box to find ETH. Click on it to enter the ETH/BTC trade pair interface.
Before trading, you are required to enter your trading password for security. Once you enter it, you will not need to enter it again for 2 hours. It is highlighted in the red box below.
Step 3: We offer four order types for customers. The following is a detailed description:
1. Limit Order: A “Limit Order” is an order placed to buy or sell a specified quantity of assets at a specified limit price or better. This involves setting the ideal commission price and quantity.
For example, if the current market price for KCS is 1.0794 USDT and you plan to buy 100 KCS when the price drops to 1.0666 USDT, you can place the order as a limit order.
Operation steps: Select “Limit Order” on the trade portal/interface, enter 1.0666 USDT in the price edit box and 100 KCS in the quantity edit box. Click “Buy KCS” to place the order.
2. Market Order: A “Market Order” is an order placed to buy or sell a specified quantity/amount of assets at the best available price in the current market. In this case, the commission price is not set; only the order quantity or amount is set, and the purchase is made by the set quantity or amount after the purchase.
For example, if the current market price for KCS is 1.0794 USDT and you plan to buy a sum of KCS valued 1000 USDT without setting prices, you can place the order as a market order. Market orders will be completed immediately, which is the best way to buy or sell quickly.
Operation steps: Select “Market Order” on the trade portal/interface and enter 1000 USDT in the amount edit box. Click “Buy KCS” to place the order.
Tip: As the market order would usually be executed immediately, you cannot cancel the order once the order has been placed. You may check the trading details in “Order History” and “Trade History”.
3. Stop Limit Order: A “Stop-Limit Order” is an order placed to buy or sell a preset quantity of assets at a preset limit price when the latest price reaches the preset trigger price. This includes setting the ideal commission price and quantity, as well as the trigger price.
For example, if the current market price of KCS is 1.0794 USDT, you assume the support price is 1.0888 USDT would not continue to increase when it breaks through the support price, then you could sell it when the price reaches 1.0887 USDT. However, as you are likely not able to follow the market 24/7, you could place a stop-limit order to prevent losses from gaining more.
Operation steps: Select “Stop Limit” Order, enter 1.0888 USDT in the stop price edit box, 1.0887 USDT in the price edit box, and 100 KCS in the amount edit box. Click “Sell” to place the order. When the latest price reaches 1.0888 USDT, this order will be triggered and the order valued 100 KCS will be placed at a price of 1.0887 USDT.
4. Stop Market Order: A “Market Stop-Loss Order” is an order placed to buy a preset quantity/amount of assets at the current market price when the latest price reaches the preset trigger price. For this type, the commission price is not set, only the trigger price and the order quantity or amount are set.
For example, if the current market price of KCS is 1.8190 USDT, you assume the support price is 1.0888 USDT would not continue to increase when it breaks through the support price, then you could sell it when the price reaches to support price. However, as you are likely not able to follow the market 24/7, you could place a stop-limit order to prevent losses from gaining more.
Operation steps: Select “Stop Market” Order, enter 1.0888 USDT in the stop price edit box, and 100 KCS in the amount edit box. Click “Sell” to place the order. When the latest price reaches 1.0888 USDT, this order will be triggered and the order valued 100 KCS will be placed at the best market price.
Reminder: Market order price is matched by the fittest price in the current trading market, in considering of the price fluctuation, the filled price to a market order is matched higher or lower than the current price. Please check the price and amount through on-floor orders before you place a market order.
After the upgrade, KuCoin was rated as a smooth operation, and very easy to use. Therefore, KuCoin is a suitable choice for new market participants. For those who need to buy quantities of 0.1 BTC and need liquidity from 1-3 BTC, the KuCoin exchange is a suitable choice.
In addition, KuCoin has not been exposed to fraud accusations or hacker attacks. Therefore, in terms of credibility and safety, the KuCoin exchange is worth users to experience.
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