As a new crypto investor or trader, the KuCoin platform is one of the exchanges likely to be suitable for you. To know how well it suits your needs and trading requirements, it is important that you take a look at the features it offers.
KuCoin is one of the oldest and most versatile crypto exchanges in the world. It was established in 2017 and has seen significant growth and success over the years.
The high-end features and services offered by KuCoin has led it to be called “The People’s Exchange”. The availability of a multitude of crypto services and digital assets is one of several reasons why it is a prominent name in the crypto industry.
If you are also interested in using this innovative crypto trading platform then you should take a look at the features mentioned below. These details will also help you discern ‘is KuCoin safe and suitable for you?’, making the research easier for you.
Digital Assets Supported by the KuCoin Platform
As mentioned above, this exchange supports a wide range of digital currencies, which is one of its several prominent features.
It is a major reason why a vast audience opts for this exchange. As a user of the KuCoin exchange you will have the option to purchase, trade and even hodle any asset from the available collection that exceeds 200 cryptocurrencies.
You can trade assets from more than 400 markets, which not only makes profile diversification possible but also enables the users to opt for digital coins with smaller caps.
Instant Exchange Tool
A distinctive tool supported by the KuCoin platform is the Instant Exchange Tool. This is a highly useful feature for people who want to store cryptocurrencies for a long time.
By using the Instant Exchange Tool, you can easily convert the crypto assets you currently own into any of the available currencies.
This tool also helps people in getting an exposure to specific digital assets without requiring them to step into trading.
Trading Bot
Another outstanding and unique aspect of the KuCoin exchange that can make it a good option for you is the trading bot it supports. This trading bot is free-to-use and can be used by any of the users.
The trading bot can be directed regarding the kind of trade you want to place while also specifying the time to do so. Using the instructions given, the trading bot automatically executes the trades.
As a user of the KuCoin platform you can also copy the configuration of another trading bot that may be successful than others. This can result in a good trading experience for you even if you do not have a lot of experience and information.
Safety Protocols Used
If your priority is to know ‘is KuCoin safe?’ then this aspect is important for you to explore. None of the exchanges in the industry are completely risk-free. However, there are platforms that prioritize the safety of the users by using high-end security systems.
KuCoin is not only one of the safest platforms in the crypto industry but is one of the best ones as well. Since its establishment, the exchange has used leading-edge blockchain technologies and security systems that ensure the funds, accounts and information of the users are kept safe from any kind of harm and cyber-attack.
Some of the technologically advanced security systems used by KuCoin include the following:
- Two-factor authentication (2FA) system
- Know your customer (KYC) verification for higher withdrawal
- Offline crypto wallets
- Web security against attacks such as DDoS
Crypto Lending
Crypto lending is one such feature that is not supported by a lot of crypto exchanges. Therefore, it is yet another unique feature you need to know about.
This feature allows the crypto owners to lend their crypto to borrowers. This, in return, helps them get rewards or in this case a daily interest rate of 0.124%.
Buy/Exchange Fiat Assets to Cryptocurrencies
Another prominent aspect of the KuCoin platform that you should know about is the availability to directly purchase digital assets by using your credit and debit cards. This feature makes it quite easy and convenient for new traders to fund their accounts.
This platform also offers a very diverse peer-to-peer market space for conversions.
The fiat currencies supported by the platform include the following:
- CNY
- AUD
- CAD
- USD
- GBP
- EUR
Margin and Futures Trading
The KuCoin platform not only supports margin trading but also supports futures trading. This platform also offers one of the highest leverages, which is up to 100x. At the moment, this exchange supports the margin trading of 15 crypto assets.
Conclusion!
The KuCoin platform is an outstanding exchange for every kind of trader, whether they have any prior experience or not. However, it is important to know what it offers so you can determine if it suits your needs or not.
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