A KuCoin review, that may be brief but addresses the major aspects of the exchange, is one of the most important and helpful things novice traders can look at. KuCoin is one of the well-known crypto trading platforms that was launched in 2017. It is known to be one of the most versatile and oldest exchanges, which is why it is preferred to be used by a number of people.
The KuCoin exchange is known as “The People’s Exchange” as it has had plenty of time to improve the features and services it offers to the people. This has led it to become one of the best exchanges in the market as it caters the needs of all kinds of crypto investors and traders, whether they are experienced or not.
If you are also new to the crypto space and want to trade crypto then this can be a suitable exchange for you. However, before you use this exchange for trading crypto, it is essential that you take a look at some of its features and then determine if it is suitable for you to use or not.
KuCoin Review on Leverage Trading
Leverage trading, also known as margin trading, is one of the most popular forms of trading and is known to be exciting yet risky. This type of trading allows the traders to borrow funds from the brokers so they can open bigger trading positions without investing a big amount from their own pockets. The borrowed amount is called leverage, therefore, trading with leverage means trading with the borrowed amount.
As mentioned above this type of trading is exciting as it enables the traders to get bigger profits. However, people who are new to the crypto space should know that the benefits are never guaranteed. This type of trading is also known to be risky because if people dive into it without proper information. About the concept or choosing a secure exchange they can end up facing huge financial losses as well.
Therefore, this brief KuCoin exchange review specifies. That it supports leverage trading and even offers one of the highest leverages in the market, which is up to 100x. People who want to trade with leverage should familiarize themselves with this concept and opt for a suitable platform.
Safety Systems Used by the Exchange
As mentioned earlier in this brief KuCoin review, this exchange is called The People’s Exchange. One of the reasons for its popularity is the level of security it offers to the users.
Using a secure exchange that prioritizes the security offered to users is one of the topmost factors that needs to be considered. Especially by people who are beginners. There can be several safety risks in the crypto space. However, they can be avoided to a substantial extent if the traders and investors choose a secure exchange.
The Kucoin exchange is known to be one of the safest exchanges in the market. As it makes use of leading-edge safety technologies that keep the users’ funds and accounts safe from cyber threats and failures of any kind.
This brief KuCoin exchange review also mentions some of the security systems used by the platform.
- High-end and advanced web security
- KYC verification required for higher withdrawal limits
- Offline crypto vaults
- Two-factor authentication
Multitude of Digital Assets
Another outstanding aspect mentioned in this brief KuCoin review is the fact. That it offers support to a wide variety of digital currencies. This is one of the topmost features crypto traders and investors. Often look for so they are familiar with their options.
Supporting a wide range of crypto assets is also an essential aspect to look at as it can indicate the versatility and capability of the exchange to handle a large audience.
Therefore, if you are interested in using the KuCoin exchange. You should know that it supports the trading of more than 200 digital currencies. The available assets are available from more than 400 markets. That helps people in creating a diverse portfolio and also enables people to invest in small cap coins.
Free of Cost Trading Bot
One of the most unique features mentioned in this brief KuCoin exchange review is the fact that it has a free trading bot. As a trader, you can simply instruct. The bot regarding the type of trade you want to make and it will do so automatically.
You will also be given the option to copy the configuration of trading bots of other traders on the exchange. Which can increase the chances for you to get good results even. If you know little about crypto space or trading.
There are numerous aspects you should consider before you use an exchange. This is why the information mentioned above in this brief KuCoin review is crucial for you to know.