Beginner’s Guide: How to Trade on KuCoin Exchange?

In 2017, the Kucoin team plunged into the cryptocurrency exchange business to provide a user-friendly UI/UX and superior customer service. It lists quality projects with a very active R&D department. It provides digital exchange service so the users can make digital asset transactions efficiently and securely. It is all set to provide long-lasting value services to the registered 5 million users placed all over the globe.

Kucoin, since its launch, has progressively proved its competence in making its place in crypto exchange soon after the Angel investment, last year. It launched the Kucoin exchange’s first version shortly after and then the Kucoin bonus plan. Its user-friendly web interface, along with Android apps and iOS apps, goes all out to serve its users. Furthermore, it has gained popularity with users with its trading provisions and no deposit fees and made a niche for itself in crypto exchange markets. IDG Capital and Matrix Partners and ‘The People’s Exchange’ partnered in 2018 officially.

And, not only that, but Kucoin has gone the extra mile to offer a global OTC Merchant Recruitment Program. Through the OTC Merchant Program, they are able to provide better services and benefits with liquidity for users on the trading platform. The OTC helps out the users with information as well as offers digital assets and legal tender transaction services. Furthermore, it helps the user to feel more at home on the platform with a 24×7 customer care service. There are no transaction fees for users on advertisements; order related queries are settled with the aid of legal and professional services. The rules on the settlement are published at 

How To Trade On Kucoin Exchange?

STEP 1: Visit the Kucoin Website Click here 

A new window to the link will open.

You can begin the easy to the registration process. Enter your email address and then choose a strong password. After clicking the Next button check your email for a confirmation email with a link.

Step 2: Log In

From your email, you can log in to your Kucoin account.

Step 3: Enable the 2FA that is 2-Factor Authentication

Just like the other exchanges, Kucoin also recommends for you to enable the 2-factor authentication for extra security for your account.

It is pretty simple. On the right side, you will find the Settings tab. Click on it and then on the Google 2-Step tab under it.

If you are using the 2FA for the first time, then you will be required to download the Google Authenticator app from your Google Play or mobile device’s App store.

Go on to add a new secret. Then scan the QR code. You will get to see the 1-minute changing code. You need to insert this every time you log-in here onwards.

Now you are done with the basic Account Setup.

Step 4: Time to Deposit the funds

Kucoin offers a very modern and clean layout uniformly on its website. You can see the pairs of trading that are available on the Markets overview screen. It displays the most popular and rare and new coins.

On selecting the trading pair, you will be transported to the trading screen. Here, you will find the chart and the order book of the trading pair.

You will be prompted to enter the Google Authentication code when you visit the screen. You can begin trading thereon after entering the code.

This little annoyance is welcome as it secures your trading.

Go to the main menu, click on “Assets,” and then on the left side of the page on “Deposit.”

Go to the drop-down menu and select the coin of your choice to deposit. After searching the coin, add the address and the amount. Press the confirm button at the bottom of the screen.

A new wallet will be created and generated that belongs to Kucoin. Each coin has a separate individual address in the wallet. Make sure you deposit the right coin into the wallet. Otherwise, with a wrong deposit, you can lose your funds.

Kucoin Fees for Deposit, Trading, and Withdrawal

Kucoin offers very low fees comparatively for trading and withdrawals. And there are absolutely no fees for deposit.

The trading fees for the coin bought is 0.1%. Withdrawal fees depend on which coin you withdraw. For example: LTC 0.001 LTC, BTC 0.0005 BTC, ETH 0.01 Ether.

Gas and Neo do not charge any fees for withdrawal.

Withdrawals under a 100,000 fee time at current are processed in a matter of seconds. Other withdrawals need more time to process.


The Kucoin KCS holders’ bonus

Most of the trading fees return to the users. Kucoin keeps 10% and returns the rest 90% to the user. 50% is returned to the Kucoin holders, and 40% is returned as an invitation bonus.

Step 5: How to trade?

After selecting “Markets” from the top menu, select the wanted pair from the table.

We will use an example. Here, let’s trade our Bitcoin for Kucoin coin KCS. We select the KCS/BTC pair market, and then see the following:

We see the page with graphs and data. Let’s begin with the right side. It shows the last trades on that specific market. You will find the order book with buy and sell commands. It shows the chart on the top left.

The bottom left corner shows the market depth. It shows the order book chart. There are zones of large supply and demand.

You will find the active orders in the bottom middle. The bottom right shows the option to Buy KCS or Sell KCS.

To buy in a limit, set the desired price. Then select the amount in KCS units. The total BTC cost is calculated and displayed beside “Volume.”

It will perform similarly and show relevant results if you want to sell KCS for BTC.

You will also see the trades Fee. Click here to further know more & get more news on blockchain & cryptocurrency.