Cryptocurrency prices are soaring, and trading on exchanges offers a simple way to trade one form of crypto for another, an evolution from the traditional method where fiat currencies are used. This exchange system benefits users by enabling them to swap coins and tokens that might not be accepted on standard crypto exchanges. The expansion of cryptocurrency popularity and the resulting upswing in exchanges reflects the rapid growth rate of this sector.
Let’s take a look at KuCoin, a Hong Kong-based cryptocurrency exchange that launched on September 15, 2017, making it relatively new to the market. KuCoin was founded with the aim of providing a safe, convenient platform for trading a wide variety of digital assets, including BTC, ETH, NEO, USDT, KCS, DASH, IOTA, and SNT, among others.
Managed by KuCoin Co., Ltd and spearheaded by CEO Michael Gan, KuCoin is headquartered in Hong Kong. Post its 2017 launch, KuCoin’s value shot up quickly, and by November 2017, it was among the top 10 exchanges in trading volume as per CoinMarketCap figures. Although its 24-hour trading volume dipped below $50 million on January 5, 2018, it had by the end of 2017 added Siacoin, Bitcoin Cash, Decred, and Litecoin to its listings.
Furthermore, KuCoin features an automated trading bot that can be used without creating an account, with triggers and actions set to operate under specific conditions.
KuCoin sets itself apart from competitors through its KuCoin Shares (KCS) rewards system for trading. Every day, KuCoin buys back KCS from users that deposit their holdings in the KuCoin wallet, providing an incentive for holding their tokens.
Other unique aspects of KuCoin include the “KuCoin Bonus” granted based on trading volume, a mobile and desktop app launched concurrently with the exchange, and very competitive transaction fees. In addition, KuCoin prioritizes security with sophisticated multi-level authentication and encryption, swift alerts for suspicious activity, and a wide range of security measures to protect user assets.
Finally, users can benefit from incentives like a 50% trading fee referral bonus and enhanced authentication and verification measures for login security.
Using KuCoin requires creating an account and adding some cryptocurrency, after which users can see their balance and transactions as well as any referral bonuses via “My Assets”. After setting up 2-factor authentication during sign-up, depositing funds will allow users to start acquiring coins.
