Kucoin Exchange Review Update
It's been a little over a year since I wrote the review about this centralized exchange. It has been founded more than 4 years ago and it has evolved a lot in that time, currently in liquidity is ranked among the top three and for many is considered the best exchange, before going into detail of what I observe has improved, I want to note that the exchange went through difficult times as it was the subject of a hack with massive theft of assets,
On the eve of the hacking I had a problem with my account which was detected an unauthorized external access to me, the account was blocked and the process to activate was cumbersome and poorly handled by the technical support, who put many obstacles to confirm my identity and activation of my account again, more than two weeks passed and my assets remained blocked, which hurt me personally, they asked me for requirements that I could not provide, but finally the problem was solved and I withdrew to binance, days later came the hacking that put the platform in suspense, after the situation I decided to continue using the exchange and I do not regret it, the results have been good for me, a lot of security because now we have two level authentication, mail and google authenticator, for many something tedious but believe me it is a necessary evil for our security.
Hijacking and asset theft
They managed to steal more than 300 million dollars by hacking hot wallets, however the company was very responsible and was able to make the return to users, 285 million dollars were recovered and insurance companies covered the remaining amount, I believe that the response time to users was fast given the severity of the problem, the experience was worth for the exchange to completely update its security system, to date today they have not had unwanted events like that and the exchange seems to have been strengthened in its security.
I kept Kucoin as a secure exchange
I kept it as my primary exchange on par with Binance which are my forte exchanges, in the background I use Bhex and Kuna Exchange a lot. I always recommend having several exchanges because depending on the currency you are going to trade with you may require one or the other. Personally I must increase to a large volume of exchanges since I will operate as an arbitrage, but always keeping Kucoin as a spearhead.
What improvements has the exchange experienced, The first thing is the above, a stronger and more reliable security,
It has increased the number of cryptocurrencies and trading pairs in a satisfactory way. It has also increased its liquidity which ensures that transactions are completed faster, it gives the possibility of a quick purchase of the USDT token by using a credit card, that option was not available previously, the new mining pool offers higher profits and a fee of only 2%, sweepstakes and bonuses for new users, another novelty is that it allows trading with margins. Referral program now generates commissions for your referrals View Image 0. Increased Incentives such as bonuses and interest on savings. Their KCS token reached its historical maximum this week and its growth has been continuous, at one year almost 3,000 % and at 30 days 78%. By holding KCS you get a bonus
By virtue of the above without a doubt I maintain my five star rating to this exchange and will continue to be my standard bearer exchange which I highly recommend, perhaps some people consider it difficult to operate, but I do not think so, once you start trading you become familiar with it quickly as it is very intuitive.