Kucoin is a cryptocurrency exchange that was launched in September 2017. The exchange is based in Hong Kong and operates on a crypto-to-crypto basis, meaning that it does not accept fiat currencies. Kucoin offers trading pairs such as BTC/ETH, NEO/BTC, ETH/LTC, etc. The exchange has its own native token, Kucoin Shares (KCS), which gives holders a range of benefits.
Some of the key features that make Kucoin stand out are its low trading fees, its easy-to-use interface, and its commitment to security. Kucoin also has its own mobile app, making it even easier to trade on the go.
If you're thinking about signing up to Kucoin, then this ultimate guide is for you! We'll cover everything you need to know about the exchange, from how to sign up and trade, to the benefits of holding Kucoin Shares.
So, what are you waiting for? Let's get started!
How to Sign Up to Kucoin
If you're based in the US, then you'll unfortunately be unable to sign up to Kucoin token as the exchange does not accept US-based customers. However, if you're based elsewhere, then signing up is quick and easy.
Head over to the Kucoin website and click 'Sign Up'.
Enter your email address and create a strong password.
Tick the box to confirm that you're not a robot, then click 'Create Account'.
You'll now be sent an email to verify your account. Click the link in the email and you'll be taken back to the Kucoin website where you can log in to your account.
Once you're logged in, you'll be taken to the 'Set Up Two-Factor Authentication' page. It's important to set up 2FA for your account as this will add an extra layer of security. We recommend using Google Authenticator for this. Once you've set up 2FA, click 'Confirm'.
You'll now be taken to the 'Security Center'. Kucoin will ask you to set up SMS verification or Google Authenticator for withdrawal. We recommend using Google Authenticator as it's more secure. Once you've done this, click 'Confirm'.
You'll now be taken to the 'Account' page where you can start trading!
How to Deposit Funds on Kucoin
Now that you've signed up and set up your account, it's time to deposit some funds. Kucoin only accepts cryptocurrency deposits, so you'll need to own or buy some crypto before you can start trading.
To deposit funds, click 'Assets' at the top of the page and then 'Deposit'.
You'll now be shown a list of all the cryptocurrencies that Kucoin supports. Select the cryptocurrency that you want to deposit and then click 'Deposit'.
You'll now be given a wallet address to send your funds to. Copy this address and then head over to your personal wallet (we recommend using MetaMask) and send your cryptocurrency to the Kucoin wallet address.
Once your deposit has been confirmed, it will show up in your Kucoin account and you'll be able to start trading!
How to Trade on Kucoin
Trading on Kucoin is quick and easy. To trade, click 'Exchange' at the top of the page and then 'Basic'.
You'll now be taken to the trading interface. Here, you can select which currency pair you want to trade. Let's say we want to trade BTC for ETH. To do this, we would select 'BTC/ETH' from the list of currency pairs.
We would then enter the amount of BTC that we want to sell in the 'Sell BTC' box and click 'Sell ETH'. Our order would then be placed on the order book.
If someone decides to buy our ETH, then our order will be matched and we will receive BTC in return. It's that simple!
Kucoin Fees
One of the key benefits of trading on Kucoin is that it has very low fees. All trades on Kucoin are subject to a 0.1% fee. However, if you pay your trade fees using KCS, then you can get a significant discount.
For example, if you were to trade BTC for ETH, then the fee would normally be 0.1% of the total trade value. However, if you pay using KCS, then the fee would be reduced to just 0.05%. This is a significant saving and it gets even better the more you trade.
If you hold 500 KCS or more, then your trading fees will be completely waived. This is a great incentive to hold KCS and it really highlights one of the key benefits of the token.
Kucoin Shares (KCS) Summary
Kucoin Shares (KCS) are the native tokens of the Kucoin exchange. They offer a range of benefits to holders, including discounts on trading fees, as well as a share of the profits that the exchange generates.
Kucoin is a relatively new exchange but it has quickly established itself as one of the leading exchanges in the space. It has a great selection of altcoins and a very user-friendly interface.
