Every day there are new exchanges. Many of them quickly break into the top exchanges in terms of trading volume thanks to unique advertising campaigns. However, this effect does not last long and beginners...
Every day there are new exchanges. Many of them quickly break into the top exchanges in terms of trading volume thanks to unique advertising campaigns. However, this effect does not last long and beginners soon give way to the top CoinMarketCap monsters proven in the cryptomarket. Such monsters include the Hong Kong stock exchange KuCoin. The developers of this exchange began to study blockchain technology in 2011, and starting in 2013 they have been working on developing their own crypto-exchange. Up until now, their work has not stopped and the technical characteristics of KuCoin are constantly improving.
The exchange was launched in September of 2017 and after 3 months the trading volume on the exchange was $7.5 million.
How to register on KuCoin exchange
In order to register on the exchange you need to go to the official KuCoin website. (By the way, be careful when navigating through links from search engines, you can go to a phishing site.) It's better to go to the exchange website via CoinMarketCap and save the link.) To register on the KuCoin exchange, click on the corresponding button on the main page:
There are 12 languages on the exchange's website, but Russian is usually opened automatically. Then you need to enter your data as well as the referral code, if you have one:
After registration, you will be sent an email with a link where you need to confirm. After registering on the exchange you will need to pass a two-factor authentication. This is necessary to deposit and withdraw money on the exchange.
Verification on the KuCoin exchange is not required.
The trading platform on the KuCoin exchange
The exchange offers traders different types of charts: linear, Japanese candles, bars, etc. With advanced settings you can add indicators and other tools. If you are new to trading, we recommend using Japanese candles since they give the most information: price levels, opening and closing points, as well as the mood of the market (bullish or bearish). Candles are also optimal for making forecasts about the movement of prices.
“Your account” on the KuCoin exchange
In this section the platform is quite similar to Binance, so if you have experience working on that exchange then there will be no problems with the KuCoin exchange. The “Your account” section offers users the standard functions for a crypto exchange.
In this section you can select the cryptocurrency that you want to work with. After you select a fund the workspace opens with a schedule, information on open and closed orders, and transaction history. Transactions are made in the same window.
On the "Funds" tab you can see your entire balance.
How to deposit and withdraw funds on KuCoin
In order to deposit funds on the KuCoin exchange you must open the "Funds" tab, select the replenishment coin tab and click "Deposit". Next you will open the page with the address to which you want to send the coins. Copy the address and send funds to it. Usually the transaction takes 30-60 minutes. To withdraw money, click the "Withdraw" button (next to "Deposit"). In the field that appears it is necessary to enter the necessary amount, the address of your wallet, and the password from Google-identifier. The commission for the withdrawal of funds, as well as the minimum amount for withdrawal, vary depending on the cryptocurrency:
How to trade on the KuCoin exchange
After the money has been credited to your balance you can proceed with the main function: trading. To do this, go to the "Markets" section, which we already talked about above and choose the trading pair you are interested in. For your convenience, you can add pairs to your favorites list: to do this, click on the star in the "Operation" column.
If it is inconvenient to open the "Markets" tab every time you can use the "Quick Trading" window.
Discounts and promotions on KuCoin
One of the advantages of the KuCoin exchange is its client-oriented marketing. Discounts and promotions are constantly offered on the site. For example, when buying a certain cryptocurrency users have the opportunity to receive gifts. Coins that offer promotions are marked with special icons:
In addition, information on current promotions and drawings can be obtained on the main page of the platform. For example, at the time of writing this article an exchange is taking place between traders working with the DCC (Distributed Credit Chain) asset. 50 ETH will be distributed to the accounts, in proportion to their deposit in DCC, between 50 traders with the largest amount of DCC.
Such contests are constantly held on the platform.
Token Exchange KCS (KuCoin Shares)
KuCoin Shares KCS
0.930684225694 USD -2.18%)
76.65 M USD
4.85 M USD
Like most major exchanges, KuCoin has its own token. Everyone registered on the KuCoin exchange recommends purchasing KCS tokens.
There are several reasons for this: firstly, the token give a 50% commission discount when making trading transactions; secondly, it can be used to vote for the listing of young projects (in case the coin is added to an exchange, KCS will automatically return). And the third, and main reason, is that exchange tokens are a must hold for crypto-investors. These tokens are undergoing a market decline, and in a growing market will show excellent results.
In addition to the demand for intra-exchange transactions, the growth of the KuCoin token is boosted by the their strategy of the periodic burning of tokens which is decided by the management of the exchange. KuCoin borrowed this strategy from the Binance exchange. The creators of the exchange periodically buy KCS for subsequent burning. (Burning is sending tokens to a known incorrect address without a private key). Such an artificial reduction in supply results in a price increase, so in in this case, demand outstrips supply.
KuCoin exchange referral program
Recently, KuCoin exchange announced a unique perpetual advertising campaign, where 40% of the exchange's revenue from commission will be distributed among users. Marketers developed a unique referral program where each trader can participate. The program consists of 3 levels: referral, direct referral, and indirect referral.
All referrals will receive a 20% commission of direct referrals, 12% indirect and 8% for those invited by an indirect referral of users.
Marketers promise that if each user invites a new user every three days, then the annual revenue from the referral program will be 0.1 BTC.
In summary, we see that the function and the the number of different tokens that KuCoin offers is in not inferior to its competitors (Binance, OKEx, Huobi). There are several advantages of this exchange:
- Round-the-clock technical support;
- A wide choice of trading pairs;
- A generous referral program;
- A multilingual site;
- A low commission;
- An intuitive interface;
- A reliable authentication system;
- Several levels of encryption in the KuCoin wallet, implying offline storage of funds.
The KuCoin crypto-exchange is definitely a promising site with a strong team (Asian teams by definition make such products). Marketing campaigns, which the exchange regularly holds, provide a stable flow of new users. A referral program motivates others to invite new traders. All these factors allow the site to maintain its position.
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