KuCoin is popularly known as “The People’s Exchange”, therefore a brief KuCoin review can be helpful for you, especially if you are a beginner.
There are several aspects first-time investors and traders need to know before choosing an exchange because stepping into the crypto space can be beneficial as well as risky. Therefore, if you are a novice investor or trader you should know the features and services of an exchange in detail so you can determine if it suits your needs or not.
The KuCoin exchange is one of the top crypto exchanges that also offers impressive features to the users. Therefore, if you want to use this exchange then you should know the following details and see if they match with your criteria, trading requirements and more.
KuCoin Review on Available Digital Assets
KuCoin is one of the most versatile crypto exchanges you are likely to come across in the crypto market. This platform is also one of the oldest exchanges in the market and offers high-end features to the users. One of the distinctive features of this exchange is its wide variety of digital currencies.
As a user of the exchange, you will have access to more than 200 cryptocurrencies. The multitude of crypto assets makes it possible for people to also have access to coins with a smaller cap than the prominent ones.
This KuCoin exchange review also focuses on the fact that it enables the traders to trade from more than 400 markets. Therefore, if you are interested in creating a diverse portfolio and want to buy, trade or hodle crypto then you can have some of the best options on KuCoin.
Safety and Security
The level of security offered by the exchange is one of the major factors to be mentioned in this brief KuCoin review. Choosing a secure exchange is important, especially for the beginners, so they can have a secure experience of buying or trading crypto without worrying about any kind of security risks.
Since the crypto space is a volatile place, using a secure exchange is important and helpful. Fortunately, the KuCoin exchange is one of the safest platforms in the market. It uses some of the most advanced and sophisticated technologies and features that protect the funds and information of the users safe and secure.
Some of the state-of-the-art security systems used by the exchange are mentioned as follows:
- KYC to make high withdrawals possible
- Offline crypto vault
- Two-factor authentication system
- Web security
Crypto exchange hacks have existed since the origin of the very first crypto exchanges, and some are so prominent that they leave a dent in the crypto exchange hack history.
Fee Charged by KuCoin
The fee charged by the exchange is one of the major aspects that should be discussed in this brief KuCoin exchange review. The fee structure of every exchange is important to know about before you use that platform. The reason being that some exchanges do not offer a fair and transparent fee structure but instead include hidden and additional charges.
Therefore, this KuCoin review makes sure that this major aspect is addressed. This exchange offers discounts on its trading fees and follows the market maker and taker model. According to that, following are the fee details you should know about.
- 0.0005 BTC withdrawal fee for Bitcoin
- 0.1% fee per trade (for futures trading)
- 3.5% fee by simplex for every purchase
- Market maker fee: 0.02%
- Market taker fee: 0.06%
- No deposit fee required
Suitable for Beginners
The user interface of the KuCoin exchange is also one of the major aspects. That needs to be considered before you use it, especially if you are new to the crypto space. Different exchanges are designed to cater to the needs of different kinds of users. Therefore, not every exchange is compatible with beginners and experts alike.
This is why, it is important that when you choose an exchange. You take a look at the user experience it offers. A platform that is suitable for beginners and experts alike can be a good option for you.
Fortunately, this brief KuCoin review discusses the fact. That this exchange has a simple and easy-to-navigate interface. Which makes it suitable for novice investors and traders.
Leverage Trading Supported
The KuCoin exchange also supports one of the most popular forms of trading, which is leverage trading. This is also known as margin trading. And is a form of trading where the traders are able to borrow funds from the brokers and open bigger trading positions.
This type of trading increases the chances for people to make big profits. But they are never guaranteed and the traders can end up experiencing huge financial losses too.
Therefore, as a trader you should be careful while choosing and opt for a suitable one such as KuCoin that offers up to 100x leverage.