Kucoin is a third-party exchange that permits users to buy, trade, and sell various different cryptocurrencies. The exchange was started in May 2017 by a group of business specialists who worked on previous projects such as iBox, PAY, and Ant Financial. Kucoin is among the most recent cryptocurrency exchanges on the market.
The intention of the founders was to produce a safe and straightforward platform for individuals worldwide for trading a range of digital coins. Their long-term goal is to rank among the top ten most significant exchanges in the world, and they aim to do so by 2019.
Since the exchange was launched, it has not experienced any significant issues, and generally, the exchange does not experience any system overloads. You can access the Kucoin platform via the Kucoin app on both iOS and Android as well as a desktop PC. It was reported in early 2018 that Kucoin had exceeded one million users. However, their trading volume on average is much lower than other well-liked exchanges, like Binance. The exchange also possesses its own cryptocurrency, which is called Kucoin Shares (KCS).
If you are holding KCS coins, you get discounted trading fees as well as a fifty percent share of all trading fee profits made through the exchange. The Kucoin cryptocurrency has experienced an unprecedented high in January 2018 with more than 1.8 billion dollars. You can have a look at this analysis by Crypto Head to gain more information on Kucoin’s history.
Kucoin has more than three hundred and forty different trading pairs accessible. An excellent example of a trading pair is BTC/ETH, which refers to trading Bitcoin with Ethereum. Kucoin supports over seventy-five individual cryptocurrencies, and they keep on adding to the list. Kucoin looks to be renowned for new cryptocurrencies that have concluded their ICO, meaning that it is an excellent exchange for purchasing cryptocurrencies at the beginning of their trading journey. According to Kucoin’s founders, their goal is to support more than a thousand varied cryptocurrencies.
One of the main goals of Kucoin is to provide traders with very low fees. But just how affordable is it? The cryptocurrency deposits are at no charge, other than the block chain transaction fee which is payable if you make a transfer. But this will be contingent on the type of cryptocurrency you are utilizing. When you are making a trade, you’ll only pay 0.1% of the total amount that you are purchasing.
For instance, if you wish to purchase $1000 worth of Litecoin, you will end up paying only $1. This is among the cheapest in the industry and a perfect reason why you should be using Kucoin. When you are withdrawing coins out of the exchange, the fee is based on the type of cryptocurrency you wish to withdraw. So, now that you have some knowledge about the Kucoin fees and coins, it is your choice whether you want to make use of this user-friendly exchange or not.