Kucoin has just been voted by Forbes magazine as one of the best cryptocurrency exchanges in 2021. Today, let's learn about Kucoin, see what this exchange has to offer.
What is Kucoin exchange?
Like Binance , and Huobi, Kucoin exchange is a centralized exchange (CEX) established in 2017, registered exchange based in Hong Kong.
All the most basic features of a deck CEX Kucoin side is full, such as spot trading, derivatives, staking... and even lottery.
As of press time, Kucoin has over five million global users, making it the choice of many institutional investors.
Advantages of Kucoin
- Fast transaction processing speed
- High security
- Low transaction fees
- Fast deposit and withdrawal
- Great liquidity, always in the top 10 exchanges with the highest 24-hour volume
- Support Vietnamese language
- Simple interface easy to use
- Support many interesting features, such as lottery
- App works well on iOS and Android
- 24/7 support
- Regularly list new coins
Disadvantages of Kucoin
Currently, I don't find anything to criticize Kucoin, except that every time I withdraw, I have to enter a withdrawal code, a bit troublesome compared to other exchanges.
Transaction fees on Kucoin
Deposit and withdrawal fees
For Kucoin, it is free to deposit money into the exchange, and for withdrawal, a certain fee will be charged depending on the amount of tokens/coins.
Transaction fee
KuCoin will charge a fee of 0.1% when you trade, this 0.1% will be calculated based on the total amount of coins you trade. When you buy and sell coins with KCS, you will get a 30% discount on transaction fees.
For details of fees on Kucoin, see here.
Is Kucoin exchange safe?
Kucoin has a high security system, so I have never seen the problem of being attacked by hackers. Personal information of users I find Kucoin very secure, I have used Kucoin for two years and have never been exposed to information.
In short, transactions on Kucoin can be assured of safety.
Instructions for registering on Kucoin
Before registering, you need to prepare a few things as follows:
- An email and phone number
- CCCD/ID card photo, including 1 before and 1 after photo (you can also use your driver's license), note that the photo must be clear and visible.
Sign up
First you visit here: https://www.blogtienao.com/go/kucoin/
The Kucoin registration interface will appear like this (remember to choose Vietnamese language).
Kucoin will allow you to register by phone number or register by email.
For example, here I will register with a phone number:
- Enter your phone number
- Then press the “Send Code” button, Kucoin will send a 6-digit code to your phone
- You take that code and enter it in the "Message verification code" field.
- Enter password
- In the "Referral code" section, you can enter the referral code if you have or don't (if you want to support us, enter this referral code "2Pgsd“. Thank you guys so much.
- Finally, you check the box "I have read and agree to the terms of use" and click the register button.
It's the same way you sign up by email.
Identity verification
After successful registration. Please do your KYC right away, because KYC is very important.
Why is KYC important?
- Withdrawal limit raised to 5 BTC per day
- Maximum Leverage for Contract Trading: 100x
- Daily Transaction Limit: 1400 USDT
- If you have any problems, we will help you faster
See more: What is KYC – Know Your Customer?
If any of you have higher needs, you can KYC level 2. And the benefits if KYC level 2 is successful are:
- Withdraw 200 BTC per day
- Daily Transaction Limit: 70000 USDT
First, I will guide you to KYC level 1:
At the homepage, you click on the circle icon and then click on the "KYC verification" section, as shown below:
At the Personal Verification page, click the "Start Verification" button to proceed with the KYC of your account.
You fill in your name, choose an identification document (passport, cmnd or driver's license).
After filling in all the required information, click the “Send” button.
OK so you guys have completed KYC level 1. Now I start KYC level 2.
Go back to the "Personal verification" page, and click the "Continue to receive more offers" button.
In this section, click the "+" button and send a photo of your ID card on the front and back of your ID card (note the photo must be clear).
Then you take a close-up photo of your face and a handwritten note with your signature + code + date (you can click the "View sample" button if you don't understand).
In addition, if you cannot upload photos or have some problems, you can also choose to verify via the Kucoin application by scanning the QR code (download the Kucoin app). here).
After filling in the above information, you check the box "I have read and agree" and click the "Submit" button to submit the KYC approval file.
Normally, Kucoin will browse very quickly, you should wait.
Enable 2FA security
After successfully registering an account and KYC, the next thing you should do is to enable 2FA security for your account.
This is very important because it helps to increase the security of your account.
Activate the two-factor security code (2FA) that will be used every time you log in and withdraw money.
To activate 2FA, go to "Account Security".
Here, you click the "Settings" button in the Authentication via Google section.
Next, you click the "Send code" button to receive the message verification code.
Having received the code, he filled in the box next to it and clicked the “Next” button.
In this last step, you can use the Google Authenticator or Authy app (you can go to the App Store or Google play to download the app).
Open the Google Authenticator/Authy app and scan the QR code or enter the keys (the blue number) to add 2FA for your Kucoin account on the app.
Then on the Google Authenticator/Authy app, you will see a 6-digit code, please enter that code in the box "authentication code via google" - each code is only valid for 30 seconds, so you can enter it quickly. Please.
Finally, you click the "Activate" button and you're done.
Also, note, remember to copy the blue number, you can write it down on paper or save it somewhere safe.
Because if you lose your phone or your phone is damaged, you can use this code to restore 2FA on the app to log in to your Kucoin account.
In the "Security settings" section, you can also add some other forms of security to increase the security of your account.
For example, you add "Transaction password", "Secure email phrase" or "Login secure phrase.
Instructions for depositing and withdrawing on Kucoin exchange
Top up coins
At the homepage, you choose “Assets” and click on “Main account (deposit and withdraw).
At the "Main account" page, which coin you want to deposit into your account, write it in the search box.
Here I will give an example of loading USDT into the account.
Enter “usdt” in the search box and then click “Deposit” (for other coins, you should do the same).
Here, please note for me the deposit networks like "ERC20, TRC20, KCC, Algorand". Each network will have a different fee, for example ERC20 is the most expensive.
Normally, when I load USDT, I usually use the TRC20 network because it's cheap.
You choose the top-up network, then copy the wallet address below to load coins into your account, note the wallet address of any coin, only send that coin.
Please read the "Advice" section carefully.
Withdraw coins
Just like depositing coins, withdrawing coins is similar.
You write the name of the coin you want to withdraw and click "Withdraw".
You enter the wallet address of the recipient of the coin and select the network (note that the recipient's wallet address must be correct, sending the wrong network will lose money or the wrong wallet address will also lose money).
Enter the amount of coins you want to withdraw and click “Confirm” to finish.
Trading on the spot market
At the homepage, click Transactions > Spot transactions.
This is where you can buy and sell coins on the spot market (spot market).
First to trade, you need to enter your trading password:
I will explain some key information that you need to know.
- (1): Open order: this is the order being placed (buy or sell order)
- (2): Closed orders: these are the orders you take profit or stop loss
- (3): Command history
- (4): Transaction history
- (5): Move transactions between Spot and Margin (newbies should only trade Spot, Margin is best not touched)
- (6): This is the section that will display the commands that have been and are being executed
- (7): Spot: where to place buy or sell orders
- (8): 10x margin: where to place the margin order
- (9): 100x contract: switch to kucoin futures trading.
- (10): switch to Bot trading interface
- (11): Click here, you will choose to pay transaction fees in KCS (KCS is the coin of Kucoin).
Types of orders when trading
In addition, you should note for yourself the types of orders when trading:
- Limit order (Limit) is an order we usually use to buy or sell a certain cryptocurrency on the exchange at the desired price (Learn more about limit orders) here.)
See more: What is a limit order? Find out in detail Buy limit, What is Sell limit?
- Market Order: Used to instantly buy a cryptocurrency.
- Stop-Limit: Used to buy or sell a cryptocurrency to a specified price. This price is also known as the stop price or Stop-Price. Learn more about stop-limit orders here.
- A stop loss-take profit order is known as an OCO order. This order is simply a combination of a limit order and a stop limit order. Learn more about the OCO . command here.
Other features on Kucoin exchange
Buy and sell coins directly on the exchange
In the "Buy Crypto" section, you can buy USDT directly from Kucoin in the "Quick Buy" section and pay by Visa/MasterCard.
The payment process is quite simple, you enter the purchase amount and click "Buy USDT", you can pay via Visa or MasterCard.
Below the “Quick Buy” section is the “P2P” section.
In the "P2P" section, you can buy or sell coins directly from others and the payment method here will be bank transfer.
Regarding the form of transaction, Kucoin P2P is similar to Binance P2P.
Kucoin Ref Link
Kucoin ref link is your referral link, if you refer your friends to register to use Kucoin exchange through your ref link, you will receive a referral bonus.
To get the ref link, go to "Finance" and click "About".
Here, you can copy the "referral link" link and send it to your friends to register or you can also copy the "referral code" for your friends to register to join the floor.
*Support BTA, remember to share this ref link: https://www.kucoin.com/vi?rcode=2Pgsd or referral code”2Pgsd“. Thank you guys*.
Loan feature
This is a service of Kucoin, here if you have coins you want to keep for a long time, you can use this service to lend and receive interest (from 12% - 300%).
In the loan section, you choose the coin you want to lend, then enter the amount and loan term, below you will see the interest rate, if you agree, click "Lend".
Spotlight
He went to “More” and clicked on Spotlight.
Spotlight is a section dedicated to the distribution of tokens for new projects.
If you want to join a project, click on that project and read the project's participation process.
Lottery
Brothers go to "More" and click on "Lucky Lottery".
This is a new feature of Kucoin. If you like to play the "dignity" bet, this is the section you can participate in.
Pool-X
You go to "Finance" and click "Earn Pool-X"
In this Pool-X page, there are many interesting features, you can learn slowly. Here I will guide you to staking.
In Pool-X, you will see the staking section if you scroll down
You click "More".
In the "Staking" section, which coin you want to staking, write in the "search coin/token" section and click "Subcribe".
The example here is “MATIC”.
The first item you enter the amount of coins you want to staking. Then check the box "I have read and agreed with" and click Subscribe.
Particularly for this staking item, I do not recommend newcomers. If you want to staking, you should learn carefully.
For those of you who don't know what staking is, see this post:
See more: What is Staking? Learn about the cryptocurrency investment method called staking
Kucoin Development Roadmap
If you want to see the detailed development roadmap of Kucoin, click: HERE
Scrolling down, you will see the development roadmap for each quarter of the year:
Kucoin Labs
KuCoin Labs is an organization that researches and analyzes the cryptocurrency market. KuCoin Labs will find the next crypto gem and empower the development of early stage crypto projects.
KuCoin Labs represents the investment and research force of the KuCoin Ecosystem. With a team of market-oriented and research experts, KuCoin Labs diversify and increase investment in projects at very early stage to help the project achieve sustainable growth and success in the world of money. electronic.
Projects that want to receive funding from Kucoin Labs, can submit an application: HERE
Kucoin exchange's own coin
KuCoin Shares (KCS) is a Token built on the Blockchain platform of Ethereum according to ERC20 standard. KCS coin is created by KuCoin.com - a major Chinese digital currency exchange, and KCS is also the private coin of KuCoin.
For more details about KCS, please read this article:
See more: What is KuCoin Shares? Learn about Kucoin's KCS Coin cryptocurrency
Conclusion
Kucoin is really a good choice for those of you who want to trade cryptocurrencies. Personally, I have been using Kucoin for more than 2 years and I will continue to use Kucoin to trade some of the tokens above.
Hopefully, this article will give you a better overview of the Kucoin exchange.
If you have any questions, message me on BTA Fanpage Please. I will answer. Thank you guys for following the article.
Follow up on KuCoin exchange at:
- Official website: https://www.kucoin.com/
- Twitter: https://twitter.com/kucoincom
- Telegram: https://t.me/Kucoin_Exchange
