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tradeandholder

KuCoin Review

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KuCoin is an exchange platform a bit different from others. The main reason for this is their profit-sharing system which may be pretty inviting to investors. Namely, they have their own coin - KCS that works as a share for their company and 50% of the income is evenly distributed among token holders.  KuCoin also comes with several really interesting features - let’s take a look!

 

Fees

In essence, the fees of this exchange are one of the lowest in the industry and are just 0.1% in any trade. But if you trade with their tokens (their shares) KCS, you will get 1% discount off every 1000 KCS that you have in your wallet. However, only expert traders with high volume trading can make some substantial use of this benefit.

 

History of KuCoin

KuCoin was initially founded as a company focused on researching the blockchain technology. The man behind the entire project is Michael Gam, once a technical expert at Ant Financial. They launched in May 2017 and it took them just a year to become the 18th best exchange platform with regards to its daily trading volume. 

The company is currently based in Hong Kong and supports numerous digital assets.

 

Safety and Security

KuCoin hasn’t gone through any significant breaches or crypto theft. It has a strong security system including the 2FA (2-factor authentication), so it’s highly recommended that you turn it on the increase your safety levels.

Furthermore, rest assured your financial security is guaranteed as the wallets themselves include a few levels of security.

 

Ease of Use

The interface of this platform is very user-friendly. You can see the two trading graphs on your main dashboard and all the available info is just a few clicks away. Furthermore, the deposit and withdrawal processes are made simple and easy to use.

The platform is also available in 10 languages which makes it easily accessible all over the world. If you like doing your trading on the move, you will be happy to know that this platform also has its own app.

 

Deposit/Withdrawal

Depositing crypto is completely free at KuCoin and the process is pretty straightforward. Since the fiat currencies are not allowed on the platform, all you have to do is connect your external wallet to KuCoin and make the transactions happen.

However, the withdrawal process requires that you pay a certain fee which may differ from crypto to crypto. Nevertheless, the whole process of withdrawing is also very easy and, what’s more important - it is fast.

 

Pros and Cons

Pros:

  • Great fees and fast deposit and withdrawal processes
  • The interface is great and provides a nice overview of your trading activities
  • The whole platform shares 50% of profit with the holders of their token

 

Cons:

  • Occasional lags in the system may appear
  • Although KuCoin is completely acknowledged by its users, there are some who are still considering it a scam

 

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