Kucoin The New Exchange On The Block

KUCOIN is among the new generation exchanges that have sprung up trying to take on the old guards and trying to change the game as we know it. Kucoin is a Chinese based ultra modern exchange established in September 2017 with the aim of providing its users with cutting edge, flexible, secure and readily accessible trading platform to buy and sell their cryptocurrencies in a highly fluid ecosystem.

KUCOIN is among the new breed that has also gone ahead to launch its own native cryptocurrency tokens known as KUCOIN shares (KCS). It uses these tokens in providing a discount on transaction fees as users trade between one currency and the other. KUCOIN prides itself as one of the most secure exchanges with multiple layers of security on its infrastructure.

Features

KUCOIN comes with many distinct features that make it standout among others. Some of these features include:

Multiple Currencies: One of the things that make KUCOIN exchange standout is that it is among the very first exchanges to ever list any new product on the market on their platform. KUCOIN is a multi currency exchange with a growing catalogue of products that gives crypto users with high levels of fluidity, giving them more options of going in or out of any given cryptocurrency, however new it may be.

Crypto Exclusive: KUCOIN also is unique in that it only accepts cryptocurrencies as means of payment throughout its trade process. KUCOIN does not validate or accept fiat payments on its platform and as such if a user wants to trade they need to already have one or two of the given currencies that are already tradable on its platform.

Transactions Fees: With the leveraging of its own native crypto asset the KUCOIN shares, the KUCOIN exchange is one of the cheapest exchange around in that it does not charge anything whatsoever for depositing on the exchange (unlike most), and only charges 0.1% of any trade done on its platform, representing probably the least in the entire industry. It also has one of the least withdrawal fees according the currency one is using.

Security: Although a fairly new entrant into the exchange game, KUCOIN is fast gaining reputation as one of the safest places to trade and store cryptocurrencies as far as exchanges are concerned. In an era where exchanges all over the world are facing increasing threats (some of which are successfully carried out), KUCOIN is touted as having bank level security infrastructure around the investment of its growing clientele.

Speed of Transactions: KUCOIN in trying to deliver the seamless experience to its users offers one of the fastest transaction speeds of any exchange in the industry. Deposits on the exchange are almost instantaneous, with the investor having their balance reflect on their accounts immediately, while withdrawals often take a maximum of just 10 minutes to initiate and conclude.

Bonus: If you hold Kucoin shares (Their coin) you receive a certain percentage of the

coins that are traded every day on the platform. This is good is you have large position and don’t mind staking them in the Kucoin exchange. Other benefits are trading discounts and customer service fast past implementation is in the works.

Downsides

Despite its great service and low fees, KUCOIN still has its downsides, chief among is the fact that no fiat money is supported yet on the exchange, which means that the user often has to follow through a second exchange or crypto broker before trading on the KUCOIN platform. The second downside, which will wear with time is that it is still a fairly new player and as such a lot needs to be learnt about it before it can be rated in the same breath as Coinbase or some of the other reputable exchanges in the market.

Conclusion

Kucoin is taking advantage of the volume coming in to the cryptocurrency market and aligning them self’s to be one of the top cryptocurrency exchanges in the space. The Bonuses offered by holding the Kucoin shares and the variety of coins and the speed they can roll them out definitely makes them a strong candidate.

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