An Easy Guide to Understanding How Kucoin Exchange Works

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The cryptocurrency world has been gaining traction over the years, and for a good reason. This is one of the most lucrative ventures you can dive into in this digital world. It would help if you had an exchange such as KuCoin to profit from the venture.

Before getting into the business, you need to learn as much about it. Different rules apply with different exchanges, different rules apply, and you need to learn about KuCoin exchange if you are to use it. Here’s an easy guide to understand how the exchange works and most of what you need to know about it.

What’s KuCoin Exchange?

As stated, this is a cryptocurrency exchange – it carries a vast amount of trading options and features. Some of the crucial features include tokens and trading bots. Each of them makes it easy for beginners to get started in the trades.

The exchange was launched in 2017, and over the years, it has become a reliable trading option for around 6 million users. The features that the trader relies upon when using the exchange include margin, spot, p2p trading, staking, lending, and futures.

The best thing about the exchange is that it is beginner-friendly, with a sleek interface. It also offers advanced security levels. The exchange also offers a selection of 400 cryptocurrencies. Finally, the fees charged on the exchange are some of the lowest in the crypto sector.

KuCoin Token (KCS)

After learning about the basics of KuCoin, you quickly realize tokens are part of the exchange. This is the native coin on the KuCoin exchange, and its upward spiral has made it quite popular. Since August 2020, the token has seen a 700% increase in price value.

This has brought the attention of several investors of crypto and blockchain to the exchange and its native coin. All the KCS holders get daily bonuses and rewards from the exchange.

Understanding KCS Token and KuCoin Exchange

The first thing you need to understand before you can understand these two is how they work and their motive. The idea of KuCoin is to list small-cap crypto that can grow immensely. It is also the most generous profit-sharing feature of all the available ones in the industry.

Another reason it’s an exchange to note is that it gives access to a wide array of tokens and even the lesser-known coins. The total market cap of KCS sits at around $919 million and above currently.

Uniqueness of KuCoin

When you hold more than six KCS in a day, you have the chance to get a daily bonus. It is also one of the best ways to earn passive income if you stake coins on KuCoin. Another reason this exchange is unique is the generosity of the profit-sharing incentive.

The exchange gives around 90% of the trading fees back to the KCS holders.

Use KuCoin Exchange

Like any other exchange in the market, the KuCoin exchange is set up to allow you to sell, buy and store your cryptocurrencies. You can use it through the site or mobile phone applications. You can easily register for an account using your email address and phone number.

If you want to enjoy the advance perks the exchange has to offer, you need to go through the more vigorous advanced verification processes. You will get to earn rewards, as a result, and reduced fees too.

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Trading Bot

You can’t spend most of your days trying to figure out the right trades. And when dealing with crypto, there are no set times to trade. The crypto industry doesn’t have a close time; the trades happen 24/7, and opportunities can pass by when you’re asleep.

With KuCoin, the facility offers trading bots that can act in your interest as long as you have the right strategy in place. All you need to do is set up an account, make deposits and enter trading parameters – the bot will take it over from there.

The bot will then analyze the forecast and the prices based on analytics and info about the market. There are also several other tools that the bit uses to make the proper analysis. The bot will then use the combinations to place sell and buy orders depending on the price moves.

Understanding any exchange is quite challenging as you need to dig deep into the basics of how it works. Before starting KuCoin, you need to understand it in totality. This is what you need to know about the KuCoin exchange and how it works.

 

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  1. Pingback: An Easy Guide to Understanding How Kucoin Exchange Works | TheFinance.sg

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