Review on KuCoin by Samyrat Meredov

Kucoin, a subsidiary of IDG Capital, founded in Boston in 1992, is the pulse of the digital currency market. The kucoin site, where you can easily open an account for yourself, trade bitcoins or crypto money on the kucoin exchange, and make very high profits by regularly reviewing the analysis and tables shared, provides service in 18 languages ​​and is actively used in many countries of the world. It is a cryptocurrency exchange founded in Hong Kong in 2017. While the founders of KuCoin promote the formation as the "People's Exchange", it is one of the largest cryptocurrency exchanges in the world in terms of trading volume. On September 27, 2021, when we wrote the article What is KuCoin, KuCoin's trading volume was recorded as 1,324,413,329 USD, and it is in the 5th place with this transaction volume. In other words, it is possible to say that it is among the best cryptocurrency exchanges.

Properties

First of all, there are over 250 cryptocurrencies listed on Kucoin. So you can find many cryptocurrencies you are looking for on KuCoin.

Low Commission Fee

In addition, KuCoin's commission fee is quite low. You pay 0.1% commission when you buy any cryptocurrency. In other words, if you make a transaction worth 10 thousand TL, the commission rate you have to pay is 1 TL.

Buying Cryptocurrency With Credit Card

The question of whether to buy Bitcoin with a credit card is one of the most curious questions of many people who want to start investing in crypto money. Yes, you can buy cryptocurrencies using a credit card, and KuCoin also helps its users to invest in Bitcoin with a credit card.

However, we cannot say that KuCoin is very good in this regard because it cuts a 5 percent commission on the purchase of crypto money with a credit card, which is quite a lot compared to its other competitors. If you want to trade on KuCoin, you must first register with Binance. So why? To pay lower credit card commission, of course. After receiving cryptocurrencies from Binance with a credit card, you can transfer cryptocurrencies to your KuCoin account.

Futures and Leveraged Trades

For traders who want to trade with leverage, KuCoin supports trading with leverage up to 100x, that is, up to 100x, but let's not forget that using 100x leverage is a risky situation. When you open a trade with 100x leverage, if the price shows 1% volatility against the direction you opened, all the money you opened will be reset. In other words, if you are not very lucky to open such transactions after gaining a certain experience and not confident in reading the market movements, it may result in unexpected losses.

KYC Verification Is Not So Elaborate

KYC, or Know Your Customer, or simply the authentication process, is not very sophisticated in KuCoin. In these days, many crypto money exchanges want to keep up with the regulations, and in this direction, users want identity and address information.

Actually, there is a lot of discussion about this. Cryptocurrency investors disagree on this issue, as they think that the crypto philosophy attaches importance to privacy. However, KYC verification is a bit easier on KuCoin compared to other exchanges.

High Transaction Volume

KuCoin has 8 million active members, and thanks to this feature, it is one of the four exchanges with the most crypto money investors. Of course, thanks to this feature, the transaction volume is quite high. Since so many users provide liquidity to the market, trading at the price you want is fine compared to stock markets with insufficient trading volume.

We come to the key question! Is KuCoin reliable? We can say that KuCoin is one of the reliable exchanges because it is one of the best exchanges in terms of user base and trading volume, and because so many people direct their investments on this platform.

However, KuCoin has been hacked in the past years. So it was one of the targets of hackers and the hackers were successful in this attack. So where should we pay attention here?

You should know that many cryptocurrency exchanges have been hacked so far. However, the point to be considered here should be how the stock market came out of this hacking event, not the hacking. Because if a stock market cannot pay its users after being hacked, there is no point in looking back.

However, when KuCoin was hacked, investors did not suffer and made their payments. Even some of the hacked cryptocurrencies were recovered. Since the unrecoverable funds were covered by insurance policies, the members did not face any negativity in KuCoin.