A KuCoin review that is brief yet talks about the major features of the exchange can be one of the most helpful things for new crypto enthusiasts looking for a suitable exchange. Even though KuCoin is a popular and well-reputed exchange, there are several other details you need to know before you determine the suitability of the platform for you.
This is why it is important to know more details about the exchange such as ‘is KuCoin safe and suitable?’. The more information you have, the easier it can be for you to determine how beneficial using the exchange can be for you.
Therefore, as a potential user of the exchange you need to know the prominent features of the platform, some of which are mentioned below.
KuCoin Review on Leverage Trading
One of the major features of the exchange you need to know is the support it offers to leverage trading. KuCoin is one of the most versatile and oldest cryptocurrency exchanges that was established in 2017. Over the years, it has grown and evolved into one of the best ones in the market. Thanks to the high-end features it offers, KuCoin is also called “The People’s Exchange”.
The support its offers to leverage trading is one of the outstanding aspects that also highlights it among the crypto traders. Leverage trading is a popular crypto trading strategy that enables traders to borrow funds from brokers and open bigger trading positions. This can either result in high rewards or high losses, depending on how the trade goes.
The KuCoin exchange also offers one of the highest leverages which is up to 100x.
Multitude of Digital Assets
As mentioned in this KuCoin review, this is one of the most well-known platforms in the world. One of several reasons for its popularity and success is the fact that it offers a wide variety of cryptocurrencies to the users.
The platform enables the users to purchase, trade or even store any digital asset from a vast collection of more than 200 crypto assets. The users can also trade any of the cryptocurrencies from over 400 markets, which makes portfolio diversification possible.
The vast collection of crypto coins also includes coins with small caps, which grabs the attention of larger audience.
Safety Systems of the Exchange
KuCoin is a technologically advanced crypto exchange and makes use of sophisticated features and technologies to ensure that the funds, information and accounts of the users are kept safe.
To maintain its high level of security, KuCoin uses cutting-edge security protocols, some of which are mentioned below.
- KYC (know your customer) verification for high withdrawal
- Advanced web security
- Offline crypto wallets
- Two-factor authentications (2FA)
If you are concerned about ‘is KuCoin safe?’ then you need to have the information mentioned above.
Another high-end feature highlighted in this KuCoin review is crypto lending. This is a highly unique feature that is not supported by many exchanges. As a user of the platform, you can lend your crypto to a borrower and get rewards in return.
People mostly borrow funds for margin or leverage trading and as a lender you are likely to get an average daily interest rate of 0.124%.
Advanced Mobile App
Apart from knowing ‘is KuCoin safe?’ you should also be familiar with other features of the exchange such as its high-end mobile application. It offers several impressive features to the users and is available for Android and iOS users. One of the biggest benefits of the mobile app is that interested parties can trade even while on the go.
The numerous activities you can enjoy if you use this application are mentioned below.
- You can carry out technical analysis
- You can have access to 3 chart types
- You can open a new account
- You can trade any of the available assets at any time
- You can trade on 6 timeframes
- You can use several in-built charting tools
The KuCoin review also addresses the fee charged by the exchange, which is a crucial aspect to know about if you intend on using the platform. Regardless of the exchange you want to choose, make sure you always check its fee structure as it should be fair and free of any kind of hidden charges.
KuCoin offers a fair and transparent fee structure. The trading fee is based on the market maker and taker fee model and also offers discounts to the users.
There is no deposit fee charged by the exchange and the withdrawal fee for withdrawing Bitcoin is around 0.0005 BTC.
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As a new crypto investor or trader, if you intend on using this popular exchange then you should know the details mentioned above in this brief KuCoin review beforehand.