If you are looking for a secure and dynamic exchange platform, Kucoin is one of the best options available.
Kucoin’s goal is to provide its customers with a simple and straightforward way to sell their coins without major problems. Here’s how to do it.
How to register and configure account at Kucoin
Having an account at Kucoin is really easy and no different than registering on any website. First you must register at kucoin.com and enter your email address and password.
IMPORTANT: Be sure the url you have entered on your web browser starts with https:// and it has a (sometimes green) padlock next to it.
You will then receive an email to verify your account. Once you have your account verified you can log into your account and adjust your security settings:
- We recommend that you complete the remaining two authentication steps to make your account more secure. Just install Google Authenticator (there are Android and iOS versions), it will give you the random number you will have to enter every time you want to log in.
- Security questions: Kucoin will offer you several personal questions. Choose three that are not easy to guess or not very well know by other people and save your answers. These extra security questions will be asked to you when unbinding Google 2 factor authorization, making a withdrawal, resetting your password or changing your security questions and answers.
- You can also complete the KYC (Know Your Customer) verification process. This is not compulsory, you can keep trading on Kucoin without completing the KYC verification, but you will have a 2 BTC withdrawal limit every 24 hours.
Kucoin has a dynamic design also on the markets screen, where you can view the available cryptocurrencies and choose which one is most convenient for you:
How to deposit in Kucoin
To deposit money on this website, go to the main menu and click on the “Assets” tab. Search for “Deposit” and there, in the menu, you choose the currency to make the deposit.
You receive a warning so as to be sure you are depositing the correct cryptocurrency (in this case, Bitcoin) to the address they are giving you. Make sure you are choosing the correct coin you want to deposit. If you transfer a different cryptocurrency (i.e. Litecoin) to this BTC address the funds may be lost forever.
Once confirmed Kucoin gives you your BTC wallet address in hexadecimal format (i.e.: 1Ma84oEiggpHrjjYhrzKo2WFY6Aqf3xPgx) and in a QR Code, to make it easier for you in case you are using a mobile wallet app:
Your transferred bitcoins will be automatically deposited to your account after 3 network confirmations. You can use this bitcoin address as many times as you want, all transfers to this address will recharge your account.
How to trade in Kucoin
To start trading in Kucoin, go to the main menu and search for “Markets”. A table will appear where you must select the coins. If, for example, you want to sell your Bitcoins and buy KCS (Kucoin Shares, Kucoin’s own cryptocurrency), you select the pair KCS/BTC.
From left to right:
- On the left is the chart representing the price evolution and below is a chart of the order book. Below the price chart you can also find your active orders and your trade history.
- On the right you will see the transactions of this pair as well as the order book (open orders not yet filled). Below these two tables is the section to buy and sell the coin (KCS in this example). If you want to buy, just indicate the price (Kucoin automatically offers you the best price according to the order book) and quantity. Immediately, you will have the costs in Bitcoin and the commissions for this transaction.
What are the commissions in Kucoin?
The rates charged by Kucoin are among the lowest in the market. We can differentiate 3 services:
- Trades: all trades are charged 0.1% of the trade (amount x 0.001). Any portion of an order that is not executed will be refunded fully upon the cancellation of the order.
- Deposits: There are no fees for deposits.
- Withdrawals: Kucoin doesn’t charge any fee for withdrawals. However, each coin has a network transfer fee for it’s blockchain operation, and Kucoin will charge you it to add it to your transfer. As every blockchain has it’s own fee and this fee changes depending on the network saturation, you will see the exact fee when transferring the funds, just above the transfer button.
In addition, Kucoin’s low commissions are returned to users in one form or another, withholding only 10% of the commercial service fees.