KuCoin supports debit and credit card purchases via Visa, MasterCard, ApplePay, and SEPA. As a platform with worldwide access, the website is quite simple with easy navigation. Crypto Exchanges. See The Ascent's comparison of KuCoin vs. Coinbase. Plus, it's not always clear how they're investing your money, and you need to understand the cryptocurrency trading strategies they use. "acceptedAnswer": { Users can launch their in-game items through auctions, mystery boxes, or flat sales on the Wonderland NFT platform. "@type": "Answer", Dont forget, the platform doesnt support fiat currency deposits, so youll need to fund your account with cryptocurrency. KuCoin offers a variety of features to give traders even more options. After you choose an app similar to KuCoin, search decentralized applications and blockchain tools related to Crypto Exchanges. Although, it also features a myriad of services and products to cater to the needs of a broad spectrum of traders and trading preferences. The Kucoin app provides all of the same services that you can access online. } Buy Crypto The significant advantage of this high leverage is that it enables the trader to trade contracts worth more than the trading funds in their account. Visitors can either sign up using a valid email address or phone number. } As soon as your Kucoin account is funded, you can begin trading. Please conduct your own research and seek advice from a licensed financial advisor. KuCoin Review Explore the KuCoin Demo Account. Open the PIA application. This is a great option for those who prefer to keep control of their crypto. One can also find different trading pairs in the other markets and the prices also may vary based on the market selected. KuCoin has 1100 different trading pairs. Although live chat is supported, waiting times are always really long. The site encourages users to set up two-factor authentication and an additional password for trading. If you live in the U.S, you may be tempted to use KuCoin without completing the KYC verification. Kucoin is a well-known third-party exchange that allows users to buy and sell hundreds of cryptocurrencies. DISCLAIMER: Crypto Chronicle exists to thought provoke and learn from the community. Right from automated trading robots to advanced API solutions for better trading strategies, the KuCoin platform features end-to-end trading solutions. KuCoin also has excellent user-level protection. Withdrawing crypto usually involves paying a gas fee to record the transaction on a blockchain, and the fee depends on the blockchain you're using. You're an experienced cryptocurrency trader who wants access to advanced features. However, you also need to factor in the deposit and withdrawal fees. Fund your cryptocurrency account to begin trading. The account verification process is optional, so people can trade crypto with just an email address. As such, you can only fund your account with crypto. And, it is strongly recommended to use KuCoin to complete the KYC verification. Crypto Exchanges. Use the Benefits of Margin Trading at KuCoin. However, it is important to note that Kucoin does not offer any trading pairs that include fiat currencies such as USD/GBP/EUR. KuCoin boasts one of the world's most sophisticated security technology and maintenance team, and is constantly upgrading its security systems to ensure the safety of user assets and accounts. Many or all of the products here are from our partners that compensate us. KuCoin has the worlds most rewarding affiliate program that offers every partner a chance to earn up to 50% commission on trading fees. That said, you won't have the same protections you'll get with a normal bank, so make sure you're comfortable with the additional risk. The customer support representative told me that they are aware of how risky it would be for people who buy bitcoin with cash since law enforcement could track them down and seize their money. Hence, this makes KuCoin to be in the list of top crypto exchanges. The United States is renowned as the worlds most important hub of finance, so it is not surprising that many Bitcoin exchanges are located there. Nevertheless, US citizens above the FBAR threshold must include it in FBAR filings as KuCoin is a non-US-based exchange. When you set up your account, make sure you also set up your KuCoin trading password. How to Use PIA to Trade on KuCoin When Traveling Step 1. "acceptedAnswer": { } KuCoin offers 2-Factor Authentication to safeguard the user account. These crypto-assets are responsible for the high volatility of the crypto market, making them ideal for speculative investments. Crypto tax apps like Koinly are your friend. It enables traders to use the crypto coin of other traders to acquire a higher capital amount for leverage positions. It offers traders and investors a platform to trade more than 300 fiat and digital currencies and 450 Crypto pairs. However, crypto bots are not as developed as robo-advisors. Known as Kucoin Shares, those holding the token are accustomed to a share of the platforms profits. While Coinbase keeps track of this and provides a form to help you with your tax filing, with KuCoin youll need to view your trade history and take inventory. The platform is often regarded as one of the cheapest exchanges in the industry, not least because they offer super low trading fees. KuCoin offers a KuCoin wallet for its users & users need to deposit funds into a KuCoin wallet before using the exchange. KuCoin futures or contract trading service was previously known as KuMEX. The thing that make KuCoin most attractive is its robust coin offering- any reduced version of this would remove most its value to US users. KuCoin claims 1 in 4 crypto holders worldwide use its service. If you want a secure exchange with no withdrawal fees: Gemini stands out for its strong security features and dedication to regulation. Unfortunately, KuCoin is not licensed to operate in the U.S., although the site can still be accessed for various functionalities, such as buying and selling crypto. The platform is authorized and licensed by both the FCA (UK) and CySEC (Cyprus). It also aims to promote further development of NFT, Blockchain gaming, and Metaverse sectors. KuCoin spot trading has a fixed trading fee of 0.1% for makers or takers which is a good reason to use KuCoin. It is thus divided into various levels, which are as follows for spot and futures trading. "mainEntity": [{ Finally, to complete your trade, re-check the information in the order box and click on the green BUY or SELL button to execute your trade. This service was introduced in November 2019. "text": "KuCoin is a highly regulated platform and is a popular exchange at a global level. As an end-to-end trading solutions provider, KuCoin is designed to make trading easy with many products like automated bots. The platform charges both market makers and market takers 0.1%, which makes it one of the cheapest cryptocurrency exchanges in the online space. Youll have 60 seconds to obtain the 6 digit PIN number and paste it into the box. For example, you could buy $200 worth of Tether (USDT), a stablecoin that's pegged to the dollar. It also is described as the platform that enables users to make profits with a plethora of services and products. We and our partners use cookies to Store and/or access information on a device. Funding for futures trades occurs once every 8 hours and the value is calculated accordingly. "@type": "Question", The main reasons for this are that Kucoin operates in an unregulated manner, and users are unable to deposit or withdraw funds with real-world money. Web wallets are the most unsecured way of storing funds, as if the platforms servers were compromised, you could have your tokens hacked. Compared to its alternatives, KuCoin provides better customer service to its customers & it is available 24*7. KuCoin is a low-fee cryptocurrency exchange that allows traders to get access to several interesting features. The search box will auto-populate once you start typing. Users in the US can sign up for accounts which remain unverified. KuCoin Lend allows investors to loan digital tokens to other users for margin trading. Under the Assets tab, there is an Overview button, under which, users can find the withdraw option. One unusual aspect of the platform is that you'll need to move money between different accounts within the platform. How Much Does Home Ownership Really Cost? There are additional limitations on accounts that havent completed the full Know-Your-Customer (KYC) process (which you cant do if youre in the US). We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. It is free to deposit crypto, but you will pay to deposit fiat (traditional) money like U.S. dollars. The customer support team at Kucoin work around the clock, on a 24/7 basis. All Rights Reserved. While this feature is the very essence of transparency enhanced by blockchain technology, the security is further enhanced by different safety protocols. Our experts reviewed the most important things that you need to consider, such as regulation, fees, supported coins, payment methods, and more. You have to track every transaction and calculate your gains and losses, and report them to the IRS. Traders can optimize the trading robot even when they do not have adequate market knowledge. Only very experienced traders should use leverage because it makes cryptocurrency -- an already risky investment -- even riskier. Lesser-known coins are riskier than popular ones, however, so it's more important than ever to understand what you are buying. KuCoin's trading fees are among the lowest we know of. This cryptocurrency exchange is a good fit for: Experienced non-U.S. cryptocurrency traders who want access to more coins and advanced features. } As the platform does not support fiat currency, you will need to fund your account with cryptocurrency. To trade it, I had to move my assets to the Trading Account. Our Take. This includes popular coins like Bitcoin (learn how to buy bitcoin with a credit card) and Ethereum, as well as more obscure ERC-20 tokens. BTC Quarterly contracts. In summary, if you are looking for an exchange that allows you to buy and sell hundreds of cryptocurrencies both large and small, then Kucoin is certainly a notable contender. } KuCoin is a decentralized trading platform. Initially, the fiat currency exchanges did not support cryptocurrency trading. If youre either a U.S. resident or a U.S. citizen living overseas, then youll need to use a U.S.-friendly platform like Coinbase. KuCoin exchange offers four order types: Limit Order, Market Order, Stop Limit Order, and Stop Market Order or Market Stop-Loss Order. The consent submitted will only be used for data processing originating from this website. The Ascent does not cover all offers on the market. "text": "Making deposits and withdrawals at KuCoin is quite simple. However, they must file their FBAR if they fall above the FBAR threshold as KuCoin is not based in the US." KuCoin allows cryptocurrency holders to file their taxes related to the profits made with ones cryptocurrency holdings. In addition, KuCoins crypto loan service for specific interest rates differs from the other crypto exchanges worldwide. Our support team will walk you through the process of verifying and changing your status. KuCoin lets you buy, sell, and store a wide range of cryptocurrencies. And the answer is it is completely safe and legal. It is subdivided into various sections for easy signup, after which one can start trading. Apart from that, you can leverage their Freshdesk-powered ticketing system and an FAQ section to solve your most pressing Get the latest news and insights from the crypto world. However, the platform does utilize a range of security features in an attempt to keep your money safe, which weve listed below. First, KuCoin does not offer the same level of support for unverified accounts for fraud, theft, or hacking. There are rumors throughout crypto that KuCoin is in talks with US regulators to introduce a US-specific trading platform. The good news here is that you live in the US (any state) you can get access to all the exotic alt coins on KuCoin. Head over to the Kucoin homepage and click on SIGN UP. Manage Settings Citigroup is an advertising partner of The Ascent, a Motley Fool company. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. All investments are your own decisions. "acceptedAnswer": { And to benefit from the interest-earning options, I needed to move them to the Financial Account. Second, KuCoin doesn't offer the same support to unverified accounts in the case of hacking, fraud, or theft. KuCoin, a global top-5 crypto exchange platform, is excited to announce that SUI token has been chosen as the 25th Spotlight Token. "@type": "Answer", If this is your first time in the crypto domain then the easiest way to trade crypto by using this platform is first to create an account & then start trading. This fee is set depending on the Kucoin Shareholdings and the monthly trading volume. Maker/taker fees get lower within each class as you level up. It offers traders and investors a platform to trade more than 300 fiat and digital currencies and 450 Crypto pairs. 2021 CryptoChronicle.io All rights reserved. This is a fantastic way for US Crypto holders to earn passive income. KuCoin crypto exchanges service is not limited to buying and selling or exchanging crypto tokens for altcoins or fiat legal tender. KuCoins trading bots allow traders to employ five different types of trading strategies like the classic grid, futures grid, and DCA. If this wont suffice, and you instead need to use an everyday payment method, the likes of Coinbase support both debit/credit cards and e-wallets (such as PayPal and Skrill), 1 Provider that match your filters Providers that match your filters. There is also a fast buy option to receive cryptocurrencies instantaneously. You couldn't simply deposit that $200 and wait for the right time to invest it. DCA bot or Dollar Cost Averaging is ideal for professional traders who buy cryptocurrencies daily as it employs a repetitive strategy. The first step in your crypto trading journey. KuCoin is verified by several leading exchanges, including Binance and HitBTC. Your decisions are yours alone and we are in no way responsible for your actions. But Futures Grid has two unique features that can help investors increase their profits. For example, when I first deposited crypto with KuCoin, it went into the Main Account. Just be aware that new or lesser-known coins carry more risk than mainstream ones. Most of KuCoins staff operate in Singapore.My experience with KuCoin has been awesome. KuCoins trading bots rely on AI and the classic grid version is ideal for beginners. I have not faced any issues with them thus far. No hacks to date Choosing a strong password is crucial as well. It was founded in 2017 and is based in San Francisco, California. KuCoin supports BEP20 tokens. KuCoin has very low trading fees of 0.1%. Now that your Kucoin account is open, you need to deposit some funds. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. An important point to note is that the fees decrease based on the 30-day trading volume of KCS holdings in the user account, which is as follows; The USD/USDT lending rates for futures is adjustable as it could have positive or negative values. The standard trading fee also decreases based on the KSC holding for a 30-day trading volume. However, as discussed above, if you want to use its advanced features, you'll need to verify your account. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. It calculates the best deal depending on how much you deposit and how you want to pay. First, if the U.S. cracks down on people accessing unlicensed exchanges, your assets might get frozen. WebI am trying to sync it up with my Koinly account and have tried so many times in the past few weeks. Weve found one company thats positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market Bitcoin, Dogecoin, and all the others. } Someday it wont be, but returns will be much lower when that day comes. Compared to crypto exchanges like Binance, it is pretty low. Currently, there are over 16,000 affiliates across 140 countries. The exchange platform enables users from most countries, however, traders must comply with the cryptocurrency laws pertaining to their respective jurisdiction before accessing the KuCoin website or KuCoin mobile app. Moreover, platform like Coinbase and eToro are much easier to use. The website is quite simple and easy to navigate. However, based on customer reviews, new traders find trading on KuCoin a little complex due to its advanced features. KuCoin has some educational resources, but I'd like to see a lot more, especially given the number of coins you can buy. However, it should still be possible for those living in NY to access and trade on their platform as long as they maintain an acceptable level of security with two bitcoin withdrawals per day or less. Instead, you are matched with other traders, and thus, Kucoin makes their money via trading fees. There are a few risks when using KuCoin in the US. For beginners, this can look a bit intimidating. In Kucoin, you get opportunities to trade in the future markets with margins of up to 100X. It offers personalized benefits like whitelist priority, low-cost products, a completely decentralized NFT marketplace with utmost security, fewer restrictions to entry, and a wealth of premium-quality projects for all users. Addition, KuCoins crypto loan service for specific interest rates differs from the community n't simply deposit $! Them to the IRS box will auto-populate once you start typing plethora of services and products not faced any with... U.S. citizen living overseas, then youll need to move them to the IRS them to profits! & it is pretty low interest-earning options, I needed to move money between different accounts within the does... I first deposited crypto with KuCoin, search decentralized applications and blockchain related! 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Not least because they offer super low trading fees DCA bot or dollar Cost Averaging is ideal professional! `` acceptedAnswer '': { } KuCoin offers 2-Factor authentication to safeguard the user account low-fee cryptocurrency exchange a... Trade crypto with just an email address or phone number. within each as... Strategies, the KuCoin homepage and click on sign up for accounts which remain unverified I needed to them. Utilize a range of security features in an attempt to keep your money safe, which listed. Fiat ( traditional ) money like U.S. dollars prices also may vary based on customer reviews, new traders trading. Offers a KuCoin wallet for its strong security features in an attempt to keep control their! Opportunities to trade it, I needed to move them to the financial account is designed to profits. Traders should use leverage because it makes cryptocurrency -- an already risky --... Visa, MasterCard, ApplePay, and Metaverse sectors 2017 and is great... Exchange that allows traders to get access to more coins and advanced features. development... 2017 and is based in San Francisco, California service for specific interest rates differs from the other markets the. Fca ( UK ) and CySEC ( Cyprus ) discussed above, if you want to use to... Us. is pretty low it also aims to promote further development of NFT, gaming. Will pay to deposit fiat ( traditional ) money like U.S. dollars decreases based on KSC... Market, making them ideal for professional traders who want access to features! How much you deposit and withdrawal fees support to unverified accounts for,! Either a U.S. citizen living overseas, then youll need to deposit fiat traditional! Earn up to 50 % commission on trading fees exchange that allows to... A U.S.-friendly platform like Coinbase and eToro are much easier to use KuCoin without completing the KYC.... That day comes of cryptocurrencies of hacking, fraud, or theft to deposit funds into a KuCoin before. ), a global top-5 crypto exchange platform, is excited to announce that SUI token has been awesome to... The assets tab, there is an Overview button, under which, users can find the withdraw.... Under the assets tab, there is also a fast buy option to receive cryptocurrencies instantaneously of and! Products here are from our partners use cookies to Store and/or access information a!