Although KuCoin is a newcomer in the crypto exchange market, having been launched last year, it is already garnering a strong following of loyal users. KuCoin currently sees daily trading volumes of just over $11 million and offers over three hundred trading pairs.
KuCoin is a great exchange platform to trade in especially if you are a new bee in crypto trading as the site is not only easy to use but is also not cluttered with trading jargon and complex features that most people don’t even know how to use. KuCoin is the site for that trader who just wants to move coins around without much in the way of research.
It is important to note that KuCoin does not offer fiat trading; therefore, you are required to buy token elsewhere before you trade.
Opening An Account
KuCoin is arguably the simplest exchange to not only trade on but also to sign up in. the sign-up procedures are short and simple, and the KYC (know your customer) validation is completely optional.
Sign up – to sign up you first click on the ‘Sign Up’ icon on the right corner of the screen. This will redirect you to the registration page where you will register using your email address.
Verification of account – after registering, you will receive an email with a link to follow in order to verify your email address. After this you are done with the registration process, it is that easy.
Securing account – the next step after registering your account is securing it. KuCoin gives you the option to further secure your account through the 2FA (two-factor authentication) feature.
For this, you will sign in to your account and click on the ‘Account’ icon in the taskbar. Next, click on the ‘Account Security’ in the drop-down options. This will open a window where links are provided for you to install the Google Authenticator, this provides different codes which you will use each time you log on to your account to verify it’s you.
After installing the authenticator app you will then bind it to your account by either scanning the QR code or typing in the key. Although this may sound like a hassle, it is advised that you not jump this step as the security it provides for your account is worth the hassle.
KYC validation – after you are done with the 2-step authentication, click on the ‘KYC Verification’ tab that is under the ‘Account’ icon on the taskbar. Next, answer the questions and provide the necessary documents listed on the next page.
Making A Deposit On KuCoin
Use the following steps to make a deposit in your KuCoin account:
➢ Click on the ‘Assets’ icon on the taskbar and then on ‘Deposits’
➢ Next, select the digital coin you want to make a deposit in on the drop-down list. KuCoin will then delegate a wallet where you will make the deposit. Ensure that you confirm the type of digital coin you are sending to the wallet as sending the wrong coin to the wrong wallet will cost you.
➢ Open the wallet from which you want to make a withdrawal. You can then transfer any amount to your KuCoin wallet and wait for confirmation.
Trading on KuCoin
Making an order – click on the ‘Markets’ icon on the menu. Next, select the pair you want to trade in and click on it.
After this, the chart screen will load and you will be prompted to provide your 2-step verification code before trading. Key in the amount you want as well as the price and then click on the action i.e. either buy or sell.