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What is KuCoin and How Do You Use It?

If you have ever come across the term “KuCoin”, it may have been worth looking into it further. However, in case you are still unsure what KuCoin really is, this article has all those answers!

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KuCoin is a cryptocurrency exchange platform that offers users numerous features and trading opportunities, making it a growingly popular choice of destination for those looking to trade cryptocurrencies and the like. As additional benefits, the exchange also supports nearly four hundred cryptocurrencies, making it one of the largest and most versatile platforms online, and is even beginner friendly – something that many other crypto exchange platforms are unable to offer.

Have you ever wondered what KuCoin is and how you can use the software? If this is something you have been considering, then don’t panic – our team is on hand today to help you find out more about the KuCoin platform and how you can get the most from your time trading there!

What is KuCoin?

First of all, we need to clarify what KuCoin actually is. Fortunately, this is actually an easy platform to define. KuCoin is a cryptocurrency exchange platform that offers users numerous features and trading opportunities, making it a growingly popular choice of destination for those looking to trade cryptocurrencies and the like.

The exchange was originally launched in 2017 and now provides services to over six million users, making it a massive online crypto exchange. As additional benefits, the exchange also supports nearly four hundred cryptocurrencies, making it one of the largest and most versatile platforms online, and is even beginner friendly – something that many other crypto exchange platforms are unable to offer. As a final perk, the fees charged by KuCoin are among the lowest of all exchanges, making them a potentially excellent choice of platform to consider.

The KuCoin Token

The KuCoin exchange also has its own native coin, the KCS or KuCoin token, which has recently experienced a massive spike in value for the end of August 2021, of over 700%. This has drawn a great deal of interest to the currency from investors and traders alike. Moreover, this has also led to a great deal of hype surrounding the platform.

The total circulating supply of KCS is just over 80 million, and bonuses are provided every day to holders of the token. Meanwhile, the use of burning strategies to further enhance the currency’s price means that only around 170 million of the original 200 million total supply of tokens are now in existence. These strategies are set to continue until only 100 million KuCoin tokens remain – a decision that is set to stabilize the value of the KuCoin token even looking to the future.

Features of the KuCoin Exchange

The KuCoin exchange offers numerous valuable features for traders, which can make it an incredibly appealing choice of exchange. Some of these features are listed below.

Spot Trading

Spot trading is a process by which crypto holders trade assets with other traders, so named for being an “on the spot” immediate transaction. These can be easily carried out using the KuCoin platform with other traders across the massive list of currencies supported by KuCoin; simply head to the trade tab, select “spot,” and you’ll be redirected to the KuCoin trading market.

Once you’ve reached the market, you’ll be able to view different cryptocurrency markets and place an order based on one of four types: Limit Orders, Market Orders, Stop Limit Orders, and Stop Market Orders.

Margin Trading

Another option that the KuCoin Exchange supports is margin trading, which allows the system’s users to leverage large funds with small funds for more generous profit margins overall. With margin trading, users borrow digital tokens after pledging a small value of digital tokens, providing the opportunity to make every token go further.

Loan periods of between 7 and 28 days are available through the KuCoin platform, and users can borrow up to nine times the principal held within their margin account.

Future Trading

Future trading is a third key feature of the KuCoin Exchange platform, whereby users own a contract that establishes an agreement to buy cryptocurrencies at a certain time for a set price, providing buyers with protection against volatility. The KuCoin Futures platform allows traders to quickly and easily create future trading contracts.

KuCoin Trading Bot

The KuCoin trading bot is a key feature of the platform that is designed to make cryptocurrency trading effortless for users. Indeed, investors simply need to enter a simple set of parameters relating to their buying and selling needs, which in turn allows the trading process to be entirely automated!

Indeed, as KuCoin’s CEO, Johnny Lyu, explains, “It is a passive approach to trading cryptocurrency and maximizing one’s potential profit. Traders will have more time to enjoy life and do what they like, knowing that their crypto trading portfolio is working on their behalf.”

Conclusion

If you have been looking to try the KuCoin Exchange, then it’s essential you first understand what the platform is and how it works. Fortunately, learning how to use KuCoin platform doesn’t need to be difficult, and we have summarized a few of the features that the platform offers today.

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