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KuCoin Exchange Review: Is It Safe?

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About KuCoin

KuCoin is an exchange platform based in Hong Kong. The platform was launched on 5 September, 2017 with a design that supports only cryptocurrencies.

Why KuCoin is better than others

The team behind KuCoin assure this has a more- friendly interface than other exchanges. Another advantage in front of others is the technical support 24/7. Some users admit that using the KuCoin platform they benefited from lower prices comparing to other platforms. It sounds pretty nice when everybody wants to win.

Is it right that they have official tokens?

Yes, the platform has created their tokens, called KuCoin Shares, with the symbol KCS. These are based on the Ethereum blockchain and are owned by Binance. The tokens are decentralized. This means that you can buy and sell them directly on the platform. No intermediate needed.

The total amount of KCS tokens is 200 million. It’s supposed that in a few months the team will buy back half of them, meaning 100 million tokens. Everyone can benefit on the back of this chance. Imagine, the half amount will be eliminated from the global marketplace and the KCS value will just blow up.

KuCoin Wallet

The platform doesn’t provide its own wallet yet, because the trading cryptocurrencies are being supported already by a lot of wallets. You can choose from Hardware Wallet, Electrum Wallet, MyEtherWallet, Trezor Wallet, Coinbase Wallet and others.

How can you buy KuCoin tokens?

So, first, you will need to install the wallet, then buy some cryptocurrencies like Bitcoin, Ethereum or Litecoin and the final step is exchanging them with KuCoin Shares.

Fees

KuCoin is charging both for transactions and withdrawals. There is no fee for keeping your deposit on the platform. So, it takes off 0,1% from the transaction amount. The more you trade, the higher the fees will be. Neither of partners is excluded. The fee is paid by all involved traders.

You should look at the fees on Bittrex or Poloniex. You need to leave per transactions more than 0,15% from the transferred amount.

The platform allows users to withdraw their money, assuring a high security and low fees (for some cryptocurrencies is even free of charge).

Fees for withdrawals:

For Bitcoin and Ethereum: 0,0005 BTC

For Litecoin: 0,001LTC;

For NEO and GAS: no fees;

For Qtum and OmiseGo: 0,1 QTUM/OMG.

The interface

KuCoin is based on a friendly interface. The data is being well organized and functional. You have advanced charts, that provide technical indicators.

They are preparing to launch a mobile version of the platform. It’s supposed to be appreciated by the users.

The Advantages of the KuCoin exchange platform

– They use an advanced technology. Multi-cluster architecture is one of them which assures stability;

– It’s a decentralized platform;

– It’s built with the purpose to become the most user-friendly one;

– The platform has the power to support two million requests per second;

– It uses an algorithm that encrypts your account and activities;

– They provide technical support 24/7.

The Disadvantage of KuCoin exchange platform

– You are charged both for transactions and withdrawals.

Conclusion

It’s the perfect time to invest in some KuCoin tokens. It’s assumed that the prices will blow up the global market. Stay tuned!


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