Kucoin Review – Features, Withdrawal Fees, Exchange Comparison
This Kucoin review features what makes Kucoin a powerful yet popular crypto trading platform.
Kucoin Review – Table of Contents
Interested in the Kucoin review? Let’s find together everything about this exchange. The Kucoin cryptocurrency platform was launched in May 2017 in Seychelles. This crypto platform is currently available in more than 200 countries, and it’s still gaining popularity. Even though it’s not licensed in the US, interested parties can make use of the platform to reduce the limitations, risks, and complications.
This Kucoin review features what makes Kucoin a powerful yet popular crypto trading platform.
Kucoin Review | Introduction
Currently, Kucoin is the fifth-largest crypto exchange based on its market capitalization. Since its launch, this platform has perfected trading cryptocurrencies only. Crypto traders can fund their Kucoin accounts through PayPal, wire transfer, or directly through their bank cards and this makes it even easier to trade through this platform.
For most crypto traders, it is agreeable that trading crypto is a volatile affair, as you need to choose the right crypto platform with the right cryptocurrencies. In that case, this Kucoin review will give you an overview of Kucoin futures to help you know what you stand to gain on Kucoin.
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Kucoin Futures
Kucoin features refer to the advanced cryptocurrency trading option, which is still part of the wider crypto exchange. Futures are a type of derivative that allows users to get into contracts whereby they can purchase and sell digital assets at a particular time with a particular price, as you can see in this Kucoin review.
Futures offer traders several advantages, such as being able to place positions that higher than those of existing holdings. The other advantage is that traders can trade both upwards and downwards in the market movement as well as reduce the risk of existing cryptocurrencies. In Kucoin, trading futures gives users the chance to trade both long and short positions.
Traders will also increase the size of their position by leveraging their funds. Kucoin has three future platforms that include Futures Lite, Futures Pro, and Futures Brawl. Only four futures products are offered across all the platforms, which are inverse, perpetual, linear, and delivery contracts.
1. Inverse Contracts
Inverse contracts denoted by the heading Coin-M refer to coin margined contracts. An inverse contract can only be executed when a trader holds the exact cryptocurrency that they wish to trade-in. Futures can be traded using BTC, DOT, ETH, and XRP.
2. Perpetual Contracts
Perpetual contracts, on the other hand, refer to futures contracts that have an indefinite settlement time. With perpetual contracts, the trader has the power to hold the contract position as long as they wish to. Currently, Kucoin has more than 60 perpetual contracts in its pool.
3. Linear Contracts
Unlike perpetual contracts, linear contracts are USDT-marginalized contracts, and they can only be identified in the Kucoin platform via the USDT-M option. USDT is the underlying token that is used for trades. The stability of USDT creates opportunities for more cryptocurrencies to trade using this contract type. The trader only needs to hold funds as USDT to participate.
4. Delivery Contracts
Delivery contracts refer to futures contracts used in traditional financial investing. When it comes to delivery futures, trading contracts need to be settled at a particular date referred to as the delivery date. The buyer at this point, is expected to receive the assets at a price that is already predetermined.
The seller, on the other hand, is obliged to ensure that they deliver the expected asset at a particular date. On Kucoin, delivery contracts are offered quarters on digital assets such as ETH and BTC.
Kucoin Withdrawal Fees
The fees charged on Kucoin are diverse and vary greatly depending on the existing network conditions. The amount that one will be charged can fluctuate at any time depending on several factors, including network congestion. Before withdrawal, you will need to take a look at the most updated fee list that is posted on the withdrawal page. Before you select the cheapest fee option, you will first need to make a selection that matches your address and thereafter end up with the fees withdrawal fees.
Kucoin vs Binance – Exchange Comparison
Binance is a crypto exchange platform just like Kucoin that allows you to purchase and sell crypto from different parts of the world. When these two platforms are compared, there are several similarities and differences which are visible between the two exchanges. Let’s find in this Kucoin review which one is the best.
1. Fees Comparison
Compared to the Binance exchange, the tier structure of the Kucoin exchange is more aggressive. If you intend to trade large volumes of digital assets, Kucoin is the ideal place for you, as it offers up to 50% dividends of exchange earning on its tokens. Binance, on the other hand, has no deposit or withdrawal fees attached to its assets. Small traders are more likely to benefit from Binance’s fee structure compared to that of Kucoin, as the Binance token is used to make payments on its platform. If you want to find out more about this exchange, you can check the Binance review.
2. Asset Comparison
Both Kucoin and Binance have a wide portfolio of digital assets that their traders can choose from. Binance offers 242 altcoins, while Kucoin offers 179 altcoins. It is clear that both platforms have access to hundreds of altcoins, and even though the number of altcoins on Binance is more than that of Kucoin, it is highly unlikely that crypto traders will consider the shortfall of altcoins on the Kucoin platform.
3. Security Comparison
Both Binance and Kucoin have invested heavily in protecting the digital assets of their traders. Since both platforms have two-factor authentication, this indicates that they are focused on preserving the information and assets of their traders.
Currently, none of the platforms has been a victim of hacking even though Binance, with its huge user-base, has recorded increased attempts of phishing. In that case, it would be important that you enable the two-factor authentication on every exchange platform you visit.
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Kucoin Exchange Review | Conclusion
Considering the development track of Kucoin over the past year, it could easily pass as a well-established crypto exchange platform. Both new and experienced traders can find the assets, security levels, and services offered by Kucoin exchange to be within their grasp due to its user-friendly interface and a wide selection of digital assets.
It is, however, important to note that if you are a beginner in Kucoin, it is recommended that you make use of the spot exchange markets, as they will give you an idea of trading that is less risky. We hope that our Kucoin review was useful.
Featured Image: Kucoin.com
