Before you start using KuCoin as a trading platform, you should know all the details about its various features. These include the withdrawal limits, fees, bonuses, and support for up to 22 fiat currencies. Let us have a look at these features one by one. This article will also tell you how to benefit from using KuCoin as a trading platform. Once you are done with this, you can start using KuCoin to trade.
Limits on withdrawals
The main limitations of KuCoin cryptocurrency trading and KCS token features are the withdrawal limits and the fees associated with them. The first two levels are free but require that users maintain a minimum level of 4,000 BTC in average trading volume. For the third level, the withdrawal limits are higher at 80,000 BTC and 50,000 BTC, respectively. This is in line with other crypto exchanges and is a common practice for users new to the market.
The second criterion relates to the fees and security of the exchange. Although KuCoin is a global exchange, it is not available in all countries, especially the United States. The company is also not able to perform KYC procedures for customers in these countries, which translates to lower daily withdrawal limits for these users. In addition to the fees and withdrawal limits, there are other features that make KuCoin a good choice for newcomers. Users can claim a free $500 welcome bonus from KuCoin.
Besides the withdrawal limits, KuCoin also has a fee structure that is comparable to that of BinanceEUR(tm) cryptocurrency exchange. Those who use KuCoin will also have to pay network transaction fees that are connected to withdrawals. However, these fees are negligible compared to the other fees associated with cryptocurrency trading. Lastly, KuCoin’s fees are very low and match the lowest fees of Binance and Coinbase. They are also highly accessible, affordable and user-friendly, making KuCoin a great choice for those seeking to trade in the crypto market.
Unlike many cryptocurrency exchanges, KuCoin does not charge separate fees for takers and sellers. The fees are flat, and are lower than the global industry average. The cost of a KuCoin Spot Trading transaction is 0.1%, but this rate does not apply to all trading pairs. If a client wishes to trade at a higher level, they can pay the taker fee instead of the maker fee. This fee structure is transparent and reliable.
KuCoin fees for crypto trading and KCS token purchases are based on a maker-taker model. Makers provide liquidity and buyers buy at market rates. KuCoin offers tiered fees for each level from zero to twelve, based on the volume of trading in BTC and the amount of KuCoin tokens held by the user. When a user level up, they pay smaller fees than when they start, and they can receive a 20% discount on trading fees.
One of the most important factors to consider is the cost of fees. Most platforms charge a commission on each trade, so you should plan to budget for the fees. KuCoin offers a competitive fee structure, so it is worth looking into before you sign up. However, it is important to note that the fees can add up quickly. For those who don’t have a lot of money to invest, fees should be a consideration.
The KuCoin exchange supports trading in Bitcoin, Ethereum, BTCS, and ALTS. It also supports trading on the platform’s price below the order book. It also has low trading fees and allows users to trade in the market using CNY, VND, and IDR. Users can also buy KuCoin using their own currency. KuCoin doesn’t charge any trading fees, but users should note that a KYC verification is required and a password to use the exchange.
If you are a new user to KuCoin, signing up and activating an account is easy and doesn’t take more than a few minutes. Simply sign up by clicking on the “Sign Up” button in the upper right-hand corner of the website and provide a valid email address, password, and verification code. After completing your KYC, you’re ready to trade. If you want a higher daily withdrawal limit, you can opt for the KYC verification. KuCoin offers basic and advanced KYC verification.
Currently, KuCoin provides incentives to token holders in the form of a 50% bonus on all trading fees. However, this percentage may change in the future. To receive the bonus, users must first deposit KCS into the KuCoin platform. As of the time of this writing, the total issuance of KCS is limited to 200 million, of which a fixed percentage of 100 million will belong to the KuCoin team and angel investors.
In addition to its perks, KuCoin offers low fees on withdrawal and trading. There is no deposit fee for transferring KuCoin, and withdrawal fees are as low as 0.1 percent of the coins you purchase. Withdrawals, on the other hand, depend on the type of currency you’re working with. NEO and GAS are completely free, while BTC, LTC, and ETH are all subject to a 0.001 percent fee. The fee for withdrawal is also low; if you deposit less than 100,000 KuCoins, you can withdraw them instantly. Withdrawals larger than 100,000 will take longer, however.
KuCoin is a new cryptocurrency exchange, but its team has proved themselves since their launch last August. The team was only assembled in May 2017, and the first version of the platform was launched a few days later. Since the launch, KuCoin has launched multiple new currencies and mobile apps for iOS and Android. With a diversified platform and low fees, KuCoin is a safe and convenient choice for investors.
The referral bonus program of KuCoin allows you to receive up to 40% of trading fees back in KCS. KuCoin also pays out its rewards every two hours and in KCS tokens. KuCoin Shares (KCS) are ERC-20 tokens on the Ethereum network. They can be stored in an ERC-20 wallet, including MyEtherWallet, Jaxx, and Trezor.
Support for 22 fiat currencies
The KuCoin crypto trading platform supports 22 fiat currencies, including USD, EUR, GBP, CNY, TRY, and VND. Its trading platforms also offer support for 10 additional currencies. KuCoin is one of the lowest-fee exchanges, and its KCS token has additional benefits that make it a better option for traders and investors. Its API is available in 17 different languages, including Chinese (traditional and simplified), French, Spanish, Italian, Malay, South Korean, Indonesian, Hindi, and Thai. KuCoin offers a variety of other features, including interest-free loans and SandBox trading competition.
KuCoin offers an extensive range of cryptocurrencies and low trading fees, making it an excellent choice for advanced crypto investors. In addition to offering a range of coins, the site also supports leveraged tokens and cryptocurrency futures. Although the platform is not ideal for beginners, it’s easy to navigate once you’ve gotten used to it. To get started, open an account. You’ll be required to create a password and enter a security code, which is very simple but may take some practice.
To buy or sell KuCoin, sign up for an account. You can create an account in a matter of seconds. To deposit cryptocurrency, you’ll need to provide your email address and an identity document. Once you’re registered, go to the assets section and click on the currency you wish to withdraw. Once you’ve done this, you can transfer your funds from the trading account to your main account.
You can also use KCS for lending. It supports over 70 coins, and you can select the interest rate and duration of the loan. The loan period can be seven, fourteen, or 28 days. KuCoin also features its own cryptocurrency, KCS, and gives its users a 20% discount on fees. There are many ways to use KCS, and you can use the KCS to trade them.
Staking of KCS tokens
Staking of KCS tokens has a number of benefits. For one, you can receive a discount on trading fees from KuCoin if you hold KCS tokens. Secondly, you can benefit from the KuCoin burning mechanism, which burns half of the total supply of the coin every quarter. If you hold at least 6 KCS, you can receive a daily dividend of 0.001 BTC.
Another benefit of KCS is its bonus system. Every day, users who hold more than six KCS can get a 50 percent share of the KuCoin trading fee. This incentive mechanism is unique in the cryptosphere, and rewards both the holders and developers of the KuCoin ecosystem. The bonus depends on the amount of KCS tokens that you hold and the volume of trading in the KuCoin Exchange. To earn more reward, you should stake at least 6 KCS per day.
The KuCoin exchange is suitable for new traders as well as experienced investors. The exchange is simple to use, and the native token, KCS, has over 31x growth in 2021. KuCoin also has a Proof of Liquidity token, or PoL, with utility in the Pool-X protocol. This token can be used for trading in the P2P section. KuCoin Staking is unique in terms of liquidity. It is one of the most important protocols for KuCoin.
While holding your crypto funds is a viable option if you believe that prices will shoot up, it is not a good idea for those who are not confident in the market. If you are an investor who believes in the price rocket, you should consider holding onto your KuCoin token KCS until the prices surge. Staking of KCS tokens is best done with a private wallet, which minimizes the risk of theft. Although software wallets are cheaper, they are not as secure as hardware wallets.