KuCoin Review – Is KuCoin Scam or a Legit Cryptocurrency Exchange?

KuCoin Review

KuCoin logoKuCoin is a cryptocurrency exchange in Seychelles. The exchange highlights the quality of projects listed by a department of research that promotes quality efforts in the blockchain industry. It allows users to trade digital instruments safely and prolifically. Read this KuCoin review to discover if you open an account with them.

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With time, KuCoin intends to give its over 5 million registered users, in over 100 countries, a lasting, increasing value.  Veteran non-U.S. cryptocurrencies dealers will make the right choice for opening an account with this exchange as it offers access to additional currencies and innovative features.

KuCoin website

Minimal Fees

The trading costs of KuCoin are one of the lowest in the market. You pay no monthly account charges, and withdrawal charges are consistent with other exchanges. Crypto deposits are free of charge, but you are going to incur a cost for using fiat deposits like US dollars. The charge will depend on how cash is transferred and what third-party application you are using.

You pay just 0.1% of the amount you buy when it comes to doing a transaction. For instance, you would only spend $1 if you wished to buy Litecoin for $1000! This is a fantastic incentive to utilize KuCoin.

Earn profit on your Crypto

The KuCoin Earn service pays income on your digital currencies in two ways. Firstly, you may stake your coins via Pool-X, a KuCoin-backed firm and secondly, you can get interested in it by leasing the cryptocurrency.

Staking is much like collecting stock dividends — specific cryptos are using staked coins to authenticate and protect the network. If you agree to bind your coins for a fixed period of time you will get incentives.

The amount of interest that is gained by lending your crypto varies by currency and demand, is greater than you would obtain with a typical savings account. They state, that on average you may earn between 8% to 12%. These earnings fund margin trading for KuCoin. According to the business, lenders will always be fully refunded either from a borrower’s insurance collateral or the KuCoin margin. A point to note is that you will not have the same protections as the ordinary bank, so be sure the increased risk is comfortable.

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Trading in Coins

There are around 300 trade pairings available for KuCoin. A trading pair example is BTC/ETH, meaning that Bitcoin is traded with Ethereum. It supports more than 75 coins and is constantly updated. This list comprises the most prominent coins like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as less known ones like VeChain and Lympo, but still, some of the best crypt coins.

KuCoin appears to be popular with new ICO-completed cryptocurrencies, which implies it’s a big exchange if you really want digital currencies right at the start of your business venture to be bought. KuCoin fully supports over 1,000 cryptocurrencies, as per the founding members.

Other Advanced features

KuCoin offers many more advantages, but if you are interested in using them, you must think carefully. Margin trading, for instance, allows you to leverage your status, which is basically to purchase additional crypto. It should only be operated by very skilled traders because this makes crypto, a risky investment, considerably riskier.

Trading bots can also be used through your mobile application. Trading bots may buy and sell your cryptocurrencies for you, so you don’t have to keep track of the market price all the time. Crypto bots are not yet as sophisticated as Robo consultants. Some, for example, have technical faults. Furthermore, the method in which they invest your money is not always obvious, and you must understand digital currency trading.

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Conclusion

Many traders have endorsed KuCoin, and its track record has always been excellent. Deposits and withdrawals are extremely quick and easy. It also provides easier market access thanks to the KuCoin app. Finally, while it is fantastic that KuCoin has not been hacked, it is important to note that they’re a very new exchange. However, regardless of whatever exchange you use, you should never store significant sums of money in storage.

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