1 Level
5 Review
0 Karma
Review on KuCoin Shares by Alicia Winter
On the downside, fiat currencies are not supported, bank transfers and credit…
On the downside, fiat currencies are not supported, bank transfers and credit cards are not accepted, and the information about the company owning and operating the exchange is limited to its Hong Kong headquarters. Of course, like most crypto-exchanges, KuCoin is not licensed, nor overseen by any governmental authority, as currently the legal status of crypto-exchanges is still unclear.
Pros
- The KuCoin team seems to recognise the importance of attracting users to their platform and they offer a bunch of promotions – discount options for those holding its KCS token, top traders bonus promotion, and a referral program. A Refferal Program – KuCoin offers a very strong referral scheme that could really help to grow the platform. With KuCoin’s scheme, you receive 20% of the transaction fees of every person you refer, which is a fairly generous reward for attracting new users to the platform. But there is more. KuCoin will also pay 12% of the fees earned from the users referred by that user to you, and if this 3rd generation user invites someone to KuCoin’s platform, you receive 8% of that person’s transaction fees. The referral program has been discontinued. Discount Option – When you use their KuCoin Shares you get up to 30% discount on trading fees. Top Traders Bonus Promotion – Users will receive extra bonuses if they trade in the eligible exchange pairs and achieve ranking by volume in the top 3000.
Cons
- KuCoin operates on a crypto-to-crypto basis, which means that you cannot exchange your USD for Bitcon, or vice versa. Supporting fiat currencies is an advantage, especially for newcomers in the cryptocurrency world, who don’t have any coins yet. Accordingly, blockchain transfers are the only payment methods accepted by the exchange. Those who’d rather use their credit cards or bank accounts may check out some exchanges which offer such options.
