One of KuCoin’s biggest competitors would have to be Binance. One major advantage that KuCoin has over Binance is it’s support for users in the United States. Also you don’t need KYC (Know Your Customer) to deposit or withdraw crypto to/from crypto wallets.
Features of KuCoin
KuCoin has a list of growing features to new and experienced crypto traders. The Spot Trade program allows you to exchange (buy/sell) cryptocurrencies. Similar to trading stocks, you can set limit orders or buy and sell at market price.
Want to automate your trading experience? KuCoin allows you to setup Trading Bots which allow you to earn passively. Choose between Spot Grid, Futures Grid, Smart Rebalance, and DCA. Each option serves a different purpose. We recommend reading up on which option works best for your risk tollerance.
More prominate features include trading in Futures, Crypto Lending (where you earn an interest on your crypto), and Staking where you earn more crypto over a period of time depending on the APY for that particular token. The Affiliate Program allows you to earn up to a 40% commission on trading fees for every person you invite.
Thought that was enough? Well KuCoin offers raffles that you can join to earn prizes such as gifts and free crypto. Be apart of the lates airdrops to earn more crypto and NFTs.
Buying or Transferring Crypto To Fund Your Account
In order to use the exchange platform, you will have to first fund your account. The best way to do that is by simply buying USDT (Tether). Tether is pegged to the US Dollar. So essentially, when you spend 100 Tether tokens to buy crypto, you are spending $100. On the Buy Crypto tab on KuCoin, you can purchase Tether, Bitcoin or Ethereum using a Visa or Mastercard. KYC will be required to do so.
If you don’t have a Visa or Mastercard, another way to fund your KuCoin account is by purchasing Tether, Bitcoin, or Ethereum from other platforms. Platforms like Gemini, Coinbase, and Changelly will provide you with the opportunity to buy crypto, then transfer it to KuCoin using the deposit address(es) on the platform.
After a successful transfer of crypto to KuCoin, you will be able to freely trade your USDT for DOGE, ADA, XRP, SHIB, LTC, and more.
Transaction Fees and Low MarketCap Fees
KuCoin makes it easier for users to buy the latest low marketcap cryptocurrencies without the hefty gas fees that come along with it. Using Shiba Inu for example. Upon the launch of the SHIB token, you were only able to buy it using Uniswap through the Ethereum Blockchain.
Because SHIB is a ERC20 token, you would have to pay gas. Those fees would sometimes be more than the actual cost of the trade. With KuCoin, you don’t have to worry about those hefty gas fees. You can buy tokens like SHIB with relative ease.
If you own any of KuCoin proprietary tokens called KCS, you can save an additional 20% off of your trades. Standard trading fees are already upto 0.1% which is very low compared to many other exchange platforms.
Accessibility of KuCoin
You can access your KuCoin account directly on the website. Their platform is responsive to every screen size which means all devices are supported. Want to use the mobile app instead of their website? You can do so by heading over to Google Play or Apple App Store to download KuCoin.