Type: Process Essays
Sample donated: Stephanie Hodges
Last updated: July 18, 2019
Kucoin is a cryptocurrency exchange basedin China. Althougha relatively new player in the cryptocurrency arena, Kucoinoffersmulti cryptocurrency trading on its exchange. The exchange opened in 2017however, it is the result of in-depth research, testing, tweaking and qualitycheck since 2011. Within a short span, the trading volume of Kucoinreached 200million, thanks to the robust architecture, premium services and flexibleoperation strategies. The trading volumeis slated to be around 100 million following the buy back.Kucoin currently offers the followingtrading pairs on its exchange:BTC/BCH, BTC/DASH, BTC/NEO, BTC/ETH, BTC/RDN,BTC/LTC, BTC/CVC, BTC/KCS, BTC/RPX, etc.
This portal has also introduced mobileapp for Android and iOS to give its users an easy, seamless trading experienceand is one of the top 20 companies to support BCH.The Early Beginnings…The company laid its foundation stone inthe year 2011 and started with conducting an in-depth research in block chaintechnology. After almost 2 years ofthorough research, it built a sustainable, scalable and reliable technicalarchitecture in 2013. Next came the phase of quality checks, control and testingand finally, in the year 2017, Kucoin successfully launched its exchangeoffering traders a wholesome, trustworthy trading experience.
Kucoin has ownshares or coins- Kucoin Share or the KCS. Initially, it started with BTC, ETHand USDT market and currency pairs including ERC20, KCS and LTC. Soon, itstarted updating its list and recently it has addedQlink, TFL, UTRUST andLAToken to name a few.Kucoin- Safe, Hassle free operationand Superior Service at low fees Getting started with Kucoin is simple.
Theusers can access Kucoin either through web or their mobile devices (Android andiOS users).The users will need to go to the Kucoin websiteand register themselves by entering their email id and choosing apassword. Once the users have confirmedwith the link sent to their email address, they will have to go through 2Factor Authentication, which is vital for keeping their transactions on thewebsite secure. After the initial process, the users willneed to add deposit to their Kucoin Wallet to start trading.
Deposit, Fee and WithdrawalsKucoin maintains a marginal fee structureand as much as 50% the fees are rewarded to the users by way of variouspromotional schemes. It charges 0.1% fees on the assets purchased and sold. Thewithdrawal fees will vary with the asset type. It offers quick withdrawals where the amount is less that current fee*100000.How to Trade? Kucoin offers a user friendly interface.When you’re are done with the registration and security check, you’ll see atrading screen wherein you can view the available trading pairs as well as thecandle chart and the order book. You can select the trading pair you want totrade in.
First time users will be directed to Google Authenticator Code, before the tradingbegins, which is done for adding a security level. Once this is done, traderscan trade their desired currency pair with just a few clicks.BonusOffers from KucoinKucoin has introduced several bonus schemesfor its users and a user can reclaim up to 50% of the fees paid to the portalby making use of the promotion offers.Invitation BonusIf a user invites new users on the Kucoinplatform, he is entitled for a bonus. The company follows a pyramid likestructure for bonus and every time you invite someone or someone you invitedinvites others, you get a bonus. KucoinBonusUsers holding KCS in their account also arerewarded by Kucoin. If a user holds 100000 KCS, he is entitled to $122.
68 asbonus.Key FeaturesApart from offering multiple cyptocurrencyand robust architecture, Kucoin’s system is designed with precision similar tothat of banks. Also, the Kucoin wallets have multiple security layers, thusprotecting both micro and macro wallets. Conclusion Kucoin is a new exchange that offers cryptoto crypto trading. It does not support fiat currencies.
Since it is based inChina, it is primarily eyeing foreign investors. The greatest advantage is it’slow cost services and on the downside, it is not a licensed corporate body andhence those willing to trade with a licensed body may find it dissuading.