KuCoin Crypto Exchange – Is It Safe For Trading?
KuCoin is a global and the best crypto exchange which offers several trading options to its eight million users. This includes spot, margin, futures, P2P trading, loans, and staking. It claims to offer the most advanced security and a choice of nearly 400 cryptos. Despite the different features, it is a beginner-friendly crypto exchange with a sleek and easy-to-use interface. The exchange also charges the lowest fees in the crypto industry.
Since its inception, the exchange has expanded its services, serving more countries with more than 300 employees. Currently, the crypto exchange has global branches in UK, India, Canada, Singapore, Japan, and Turkey.
KuCoin Commerce website has been translated into 17 languages including English, Russian, South Korean, Hindi, Turkish, German, Chinese, and French to meet different nationalities. Moreover, this crypto exchange is the best crypto exchange with a wide range of assets and services, many users, high liquidity, and low trading fees. Meanwhile, as of October 2020, the site had over 5 million active users.
Although the technical framework of the KuCoin exchange was conceived in 2013, it became fully operational in 2017. Crypto Exchange was founded by Michael Gan and Eric Dan and is headquartered in Seychelles.
The KuCoin crypto exchange was funded by an initial ICO currency offering conducted from August 13 to September 1, 2017. During the ICO, the price of many popular crypto exchange tokens, including KuCoin’s native coin, KCS , was on an uptrend.
Additionally, with the outstanding offering of 80,118,638 KuCoin shares, the exchange rewards KCS holders with a daily bonus. KuCoin tends to list small cap cryptos with significant growth potential. In addition, it gives access to a large number of tokens, including lesser-known coins. In addition, he enjoys a very generous profit-sharing incentive; up to 90% of transaction fees are refunded to KCS holders.
Advantages and Disadvantages of KuCoin Crypto Exchange
Over 400 trading pairs make the platform one of the best crypto exchanges for Altcoin trading.
Good customer support service.
Support for mobile app on iOS and Android devices.
Allows Ethereum 2.0 staking.
Is KuCoin safe for trading?
KuCoin has partnered with Onchain Custodian to protect crypto assets stored in its transaction. This includes Lockton insurance against crimes such as hacking. It also has a bug bounty program to encourage ethical hackers to report any system vulnerabilities.
KuCoin claims that clients’ assets are difficult to hack because they are stored offline in a cold warehouse. But it doesn’t say what percentage is kept offline. KuCoin Hot Wallets need to have funds online for customers to withdraw and trade, but it can be helpful to know what percentage is kept and where.
KuCoin also has excellent user level security. The site encourages users to set up two-factor authentication and an additional password for the company. Users can set security phrases that appear in all KuCoin emails to protect you from hackers.
In general, KuCoin is a popular and best crypto exchange platform which brings complex trading operations into the palm of your hand. Understanding a startup spread is straightforward and offers investors the opportunity to earn a steady return, with KuCoin ranked in Forbes’ list of best crypto exchanges in August 2021. There are tons of coins to buy, sell, and trade. Thus, KuCoin is a good place to start trading cryptos for beginners.