Contents
Being one of the oldest and most versatile exchange, the KuCoin platform does have a distinctive reputation in the crypto industry. This exchange was launched in 2017 and has seen significant growth and success over the years.
The features and trading services it offers outperform those offered by its competitors. However, if you are interested in using this exchange you should take a look at the features it offers in depth.
Apart from being a versatile, it is also known as “The People’s Exchange”, thanks to the availability of a variety of digital currencies and services.
Therefore, if you want to use this exchange then you need to explore aspects such as, is KuCoin safe, suitable and more as it can help you get a good idea of what to expect if you use the exchange.
KuCoin Platform – Buy or Exchange Fiat-to-Crypto
There are several reasons to opt for this cryptocurrency exchange, one of which is the feature that allows the users to buy or exchange fiat currencies to crypto assets.
As a user of the KuCoin exchange, you can purchase crypto assets using your credit or debit cards. This facilitates the funding of the account for the users, which is an ease not supported by a lot of exchanges.
A vast P2P market space is also supported by the platform which makes conversions easier and convenient. This space comprises of a lot of traders and crypto owners who want to exchange their assets from crypto to fiat currencies.
Some of the currencies that are supported by the KuCoin platform are as follows:
- AUD
- CAD
- CNY
- EUR
- GBP
- USD
Multitude of Cryptocurrencies Supported
The Kucoin exchange is an outstanding platform that is known to be one of the most innovative ones in the world. One of the distinctive aspects of the exchange is the supports to a wide range of digital currencies.
This platform supports one of the largest collections of cryptocurrencies, which is more than 200.
As a user of the crypto exchange, you can purchase, trade and even hodle any of the cryptocurrencies from the available 200+.
The availability of such a vast collection taps into more than 400 markets. This enables the users to diversify their portfolio however they want to and also opt for digital coins that have smaller market cap.
Crypto Lending
Among several other unique aspects, the KuCoin platform also extends its support for crypto lending. This feature is not supported by many crypto exchanges, which is why the attention of a vast audience is inclined towards KuCoin.
With the help of this feature, the crypto owners lend their crypto to borrowers and get rewards in return. There is a daily average interest rate based on which the crypto lenders get the rewards.
Safety and Security Offered
As a new crypto investor or trader, one of the most important questions you need to ask is “is KuCoin safe?”. This is a crucial attribute that needs to be explored and every crypto investor or trader should opt for a platform that takes their security seriously.
There are several challenges and risks that can unexpectedly make their way to the people who are new to the crypto space. While these risks cannot be eliminated properly, they can be mitigated to a great extent if the investors or traders opt for a safe and secure exchange.
The position of the KuCoin platform as one of the top crypto exchanges in the industry is also due to the fact that it is one of the safest exchanges.
It uses several high-end security protocols to ensure the funds and accounts of the users are kept safe from any kind of cyber-attack or threat. Some of the security features used are as follows:
- Two-factor authentication (2FA)
- KYC (know your customer) verification
- Advanced web security
- Offline crypto wallets
Trading Bot
Another impressive and unique attribute of the KuCoin exchange is the availability of the trading bot. This feature is free-to-use and is one of the best features for the new traders.
The trading bot supported by KuCoin can be instructed by the crypto traders regarding the trading positions they want to open. If all the details are specified then the trading bot automatically executes the trades as directed by the users.
Leverage Trading Supported
If you are more focused towards trading crypto assets and are interested in leverage trading as well then you need to look for a platform accordingly.
The KuCoin platform supports leverage trading and it also offers one of the highest leverages in the market, which is up to 100x.
If you are looking to trade with leverage you should learn about the concept as much as possible and then carefully opt for the leverage ratio.
Conclusion!
There are several details you need to know before you opt for an exchange, even though it is the KuCoin platform. As a new trader or investor you should know the details mentioned above beforehand.