How to use KuCoin

How to use KuCoin

Robert McDougall 

November 9, 2022

Cryptocurrency

The crypto industry has grown so much in the past few years, with literally hundreds of crypto exchanges popping up seemingly out of nowhere. The bull run of 2020 played a crucial role, which piqued the interest of people from all over the world in the concept of digital finances. 

If you are looking for a crypto exchange to join and want to explore how the blockchain industry can benefit you, there are many crypto exchanges that offer professional trading experience. Some have a great variety of cryptocurrencies, a few come with convenient payment methods, and others are really easy to use. KuCoin offers all of these.

What exactly is KuCoin?

KuCoin is one of the most popular and globally adapted cryptocurrency exchanges that is known for diversity, ease of use, and tremendous features. KuCoin brings all the features anyone would need in one place and allows users from over 200 countries to access them easily. KuCoin claims to have over 20 million users with an average 24-hour trading volume of $1.5 billion. Their features allow you to buy or sell cryptocurrencies or trade them with advanced tools, just as you want. The platform also provides other beneficial services like lending, earning, pools, mining, and bonuses that can help you earn a considerable amount as a side income.

About the company

The platform was started by two enthusiasts who delved into the blockchain industry quite early. At that time, it was really hard to understand how the blockchain mechanism worked, how much potential the digital currencies carried, and how one could benefit from them. They realized it was necessary to reshape the digital finance industry and make it better not only for the educated and rich people but every single person who believes in revolution. They put the initial plan of KuCoin into action and worked together to bring what you are seeing right now. Today, KuCoin is one of the elite cryptocurrency exchanges competing with the best names in the industry, making it possible for everyone to access web 3.0.

How to open an account?

Opening a KuCoin account is very easy. All you have to do is provide your email address or phone number, and you will get a verification code for the selected method. Enter the code on the registration page, and you will be good to go.

Securing your account

KuCoin does not compromise on user security and protection. The platform offers several ways through which you can ensure the full safety of your funds and your identity. You can enable Google verification, phone verification, trading password, IP restrictions, anti-phishing codes of several types, and lastly, the account freezing option to halt all the activities on your account. It is recommended to enable all of the available security options so that no third party would be able to interfere with your account. Yes, it will be a little troublesome whenever you try to perform certain activities, but it will be worth it if you do not want to lose your hard-earned money.

Verifying your identity

If you want to use KuCoin and all its features fully, you will have to verify your identity by submitting a few official documents. Do remember that KuCoin demands documents based on your location, and these might be different for different users. But you are usually asked to submit the front and back of your national ID card and a selfie with the provided code and the date to complete the verification process. In case KuCoin detects any fraudulent activity, your account can be permanently blocked. If you have provided the right details with the right documents, you will be verified in a few hours.

Funding your account

To fund your KuCoin account using fiat currencies, the platform has partnered up with a few third-party payment merchants like Banxa and Simplex, which support a variety of payment methods. You can use your fiat to directly purchase crypto, which you can store on KuCoin, or use to trade for other cryptocurrencies on the markets.

There is also a P2P market where you can get in touch with other users to directly buy and sell cryptocurrency at the agreed price. 

If you already own crypto, you can easily deposit cryptocurrencies into your KuCoin account from your external wallet or another exchange, free of charge. 

Start trading

After you have funded your account, all you need to start trading is to decide if you want to spot trade or go with derivatives trading. You can also automate your trades, thanks to the trading bots available on the platform. You simply have to set the parameters and let them run according to the given instructions.

If you are a beginner and are not comfortable dealing with advanced features and complicated charts, it is best to trade your crypto with the convert option. KuCoin does not charge any fees for using this feature, and you can easily swap one coin for another using this.

Available cryptocurrencies on KuCoin

There are very few exchanges that can compete with KuCoin when it comes to the number of cryptocurrencies available on the exchange. There are over 700 coins that are listed on KuCoin and are available to trade right away. With so much variety in assets, you can easily diversify your portfolio and increase your exposure to different markets. Don’t put all of your eggs in one basket; always trade multiple markets to reduce the risk of losing your money. The following are just some of the popular assets that you can trade on KuCoin:

  • Bitcoin
  • Ethereum
  • Dogecoin
  • Shiba Inu
  • Binance Coin
  • Cardano
  • MATIC
  • Litecoin
  • Monero

KuCoin features

As KuCoin is an all-in-one crypto exchange, you can expect to get pretty much everything you would need as a crypto enthusiast. The platform gives you an easy pathway to purchase and sell cryptocurrencies, trade within different markets, earn, trade NFTs, lend, and do much more. Take a look below and find out exactly what features the platform offers:

  • Easily buy and sell cryptocurrencies with 70+ payment methods
  • Over 700 cryptocurrencies are available to trade
  • Trade spot or trade derivatives with leverage
  • Automate your trading experience with trading bots
  • One-click conversions with no fee
  • Lend your crypto to earn interest
  • Earn stable profits with KuCoin Earn
  • Passive income with cloud mining and pools
  • Buy, sell, and trade NFTs with partnered platform
  • Self-custody wallet with a gateway to web 3.0
  • Beginner-friendly platform with easy registration
  • Detailed guides and tutorials are available
  • Good customer support team

KuCoin demo account

KuCoin offers a demo account or paper account that traders with no experience can go with and see how things work. If you are new to the trading industry and are willing to learn the concepts, strategies, and market analysis, it is recommended to try your luck with the demo account first before trading with real money. Doing so will enable you to know how good of an analyzer you are and if your strategies are working or not. KuCoin provides their users with a large amount of money to trade with; you can top up your account again and again without paying a single buck. In the end, it does not matter where you learn the trading from, just implement what you have learned before using the actual money, and the results will tell you if you can move forward.

KuCoin app

KuCoin is not only limited to your computer browsers; it is also available on mobile phones for you to download. KuCoin mobile applications are available for Android and IOS devices and can be installed quite easily from the respective application stores. In case you are an Android user, you can also download the APK version of the app and install it directly. 

Note that KuCoin mobile applications come with almost all the features that are available on their web interface. You can buy, sell, trade, explore charts, invest, lend, and do much more with just a few taps on your phone. With portability, you will never have to worry about missing a chance to execute a trade or connecting to your crypto portfolio, no matter where you are.

FAQs about KuCoin

What is the minimum amount you can trade on KuCoin?

The minimum tradable amount on KuCoin varies depending on the asset. For instance, for KCS, it is 0.001, and for BTC, it is 0.000001. In order to avoid losses, make sure to adjust your trade orders accordingly.

Can I make a bank transfer to KuCoin?

Yes, KuCoin has several options available to fund your account through bank transfers directly. You can either make a direct bank deposit through the option given by KuCoin or through third-party payment providers. There is also a P2P market where you can connect with merchants and pay with bank transfers in your local currency.

What are the cash-out rules on KuCoin?

There is a daily withdrawal limit that varies depending on the verification level of your account. Non-verified accounts can only withdraw 2 BTC per day, while verified accounts can withdraw 100 BTC every day. The minimum withdrawal amount varies for each available asset.

How old do you have to be to use KuCoin?

You must be at least 18 years old in order to use KuCoin and all its features. KuCoin asks their users to verify their identity, and that is where they analyze the age of their users.

How do I exchange coins on KuCoin?

KuCoin has made coin conversions really convenient with their convert option. You can instantly exchange your cryptocurrencies without paying a single buck. You can also exchange your coins on the exchange by manually trading them and placing orders in the spot market.

Conclusion

KuCoin is certainly a game-changing cryptocurrency exchange that has always focused on the feasibility of their users. With the variety of options they offer, it is unlikely you would have to go for another cryptocurrency exchange to fulfill your needs. KuCoin allows you to get your hands on or off the crypto assets, and offers a professional and institutional-grade trading experience that is not very easy to find.

The options like bot trading have made it even easier for amateur traders to have a better look at the crypto industry and see how beneficial it can be. With the investment options like lending and staking, you can also make some extra income with the coins you are holding in your KuCoin account. To learn about all the features of KuCoin, you can read our full review here.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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