Review on KuCoin by Joseph Bello
KuCoin Remains My Best Exchange Platform
The Kucoin exchange platform is one that has been in existence since 2017. I just knew about it this year and tried their services out, I was really baffled. I got so much interest in the exchange platform that I had their mobile application downloaded on my Android device. The KuCoin exchange platform tends to have every single thing I want ranging from their cheap trading fee, their available mobile applications, the clean records they've kept and the bonuses one enjoy for holding their cryptocurrency, Kucoin Shares (KCS).
First, talking about their trading fee. The KuCoin exchange platform charges an affordable fee of 0.1% for both makers and takers. I find it's trading fee very enticing and acceptable because some other exchange platforms out there charges up to double and even more. The KuCoin exchange platform don't just stop there, they also offer a discount for traders that use their cryptocurrencies to pay for their trading fee. Traders enjoy a trading fee of 0.08% when they make use of the KuCoin Shares (KCS) to make payment for their trading fee. Aside that, people that own this their cryptocurrency enjoy a 50% share of the profit the company make. That was surprised to see an increase in my account balance and when asked what for, I was told that for holding their cryptocurrency I had a 50% share of their profits. With all these discounts and bonuses, I wonder how the KuCoin exchange platform makes their money. I was also surprised to discover that the exchange platform doesn't charge for deposit of cryptocurrency. Their services are really enticing, I guess that was why my friend invited me to it.
Moving on to their security, the mobile application of this exchange platform makes use of passwords before gaining access to their funds, they also utilise the 2 factor authentication for login and make their KYC process compulsory for withdrawals above 3 Bitcoins a day. When I read through their history, I discovered that the company has never had a security issue except for this year's hack that left them in loss of millions of Dollars. I think this record is clean enough to start trading with them because, they paid back all the lost funds to their users.
The KuCoin exchange platform currently boasts of millions of users actively on their platform and is projected to have an increase due to the referral programs they've innovated. Their mobile applications are available on both Android and iPhone operating systems and their services can still be accessed on the web. To me, trading has never been this easy. Nice work by KuCoin.
Pros
- They offer a cheap and affordable trading fee of 0.1% and even give discount for using their cryptocurrency to pay for it
- The make use of nice security systems to protect users funds
- The cryptocurrency, KuCoin Shares holders enjoys a 50% share of the profit made by the company
- They have their mobile applications available on both Android and iPhone operating systems
- There is no limit to the deposit and withdrawal amount
- Their KYC process is not compulsory
- The exchange platform is well-known as it houses millions of traders as of today
Cons
- The hack they experienced this year, has affected their records
- They don't accept deposit using Fiat currencies
New products
Comments (1)
December 30, 2020
The KuCoin exchange platform is a nice exchange platform. The hack they experienced didn't take away much funds (as it's in millions of dollars unlike other exchange platform that lost Billions of dollars). I think this wouldn't really affect their reputation
