The trading fees vary as per the type of trading like spot or margin trading. Look at who the management team is, what problem the coin is trying to solve, and what other coins are already operating in that space. KuCoin Lend allows investors to loan digital tokens to other users for margin trading. Coinbase is insured against theft, fraud, and some government seizure, which is important to newbies who are not used to crypto trading yet. If you hold Kucoin Shares, you can reduce these fees further. And, we also expect that in the coming months or years, KuCoin will come up with more advanced features, services, & products for its users. On the left-hand side, you need to enter the cryptocurrency trading pair that you want to trade. Also, immediately after depositing money into a Kucoin account, you will need to buy one digital currency. This is not the case with cryptocurrency exchanges. "@type": "Question", "@type": "Answer", In the US, you can register a KuCoin account and trade on the platform, but youll be unable to be complete the full registration process. See The Ascent's comparison of KuCoin vs. Coinbase. Here, buyers and sellers rely on the digital transfer of the crypto and fiat currencies involved. KuCoin is among the top crypto exchanges in the world. Bitcoin can be sent from user to user through the peer-to-peer network without the need for intermediaries. Disclaimer: Our articles are NOT financial advice, we are not financial advisors. And, this is determined by the concerned bank or payment gateway. Also, you'll need to immediately buy a set amount of one currency. KuCoin has three classes of crypto, shown in the table below. The customer support team at Kucoin work around the clock, on a 24/7 basis. The KuCoin Earn service pays interest on your cryptocurrencies in two ways: You can stake coins through Pool-X, a KuCoin-backed company, or you can loan out your crypto and get paid the interest. The big advantage to such a strong customer base is that it adds liquidity to the market -- you're more likely to be able to make the trades you want because there are more people trading. Depending on the type of method chosen, a verification code is sent to the provided email ID or phone number. It registered substantial growth in 2022 with an increase in the number of projects deployed or integrated on the KCC platform, including NFT, GameFi, DeFi, Web 3.0 infrastructure, and many more. All Rights Reserved. The platform launched in September 2017, and on 19 July 2022, they proudly announced that they had reached more than 20 million users registered at the platform, from over 200 different countries/regions. Additionally, Wonderland supports Polygon and KCC while the operators work consistently to incorporate more networks like SLP, BSC, and ETH. After verification, the funds requested are sent to the users’ cryptocurrency wallets." Read our full KuCoin review to find out if you should open an account. Fund your cryptocurrency account to begin trading. In all honesty, this is probably a good thing. Bitcoin is a decentralized digital currency, meaning that it lacks a central bank or single administrator. Best Mortgage Lenders for First-Time Homebuyers. However, it should still be possible for those living in NY to access and trade on their platform as long as they maintain an acceptable level of security with two bitcoin withdrawals per day or less. Future trading involves trading a specific asset at a particular volume, price, and date in the future. For more information, read the terms and conditions section of KuCoin. Up to $500 in new user rewards await you! The company says lenders will always be repaid in full, either from the borrower's collateral or from a KuCoin margin insurance fund. Users can contact and consult Download KuCoin App >>> Follow us on Twitter >>> Join us on Telegram( Only for API support) >>> Top Articles. KuCoin is one of the most popular global cryptocurrency exchanges, with over 10 million registered users in over 200 countries. You can trade many different cryptocurrencies by using this trading platform with very low fees. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[300,250],'arounduniverse_com-box-4','ezslot_5',109,'0','0'])};__ez_fad_position('div-gpt-ad-arounduniverse_com-box-4-0');At this point in time, the only way to get bitcoins is by taking part in illicit activities like drug dealing or ransomware. Webwhen you bought the dip and now waiting for the pump. KuCoin, a global top-5 crypto exchange platform, is excited to announce that SUI token has been chosen as the 25th Spotlight Token. Users can also choose different payment methods like PayPal, Transferwise, Bank transfer, etc. Traders can optimize the trading robot even when they do not have adequate market knowledge. There are a couple of risks here. Investopedias Rating. Start buying and selling cryptocurrencies, and explore even more KuCoin products and services! KuCoin provides one of the best trading services with advanced trading tools and customized charts that are easy to use and interpret for both advanced traders and beginners. Lesser-known coins are riskier than popular ones, however, so it's more important than ever to understand what you are buying. One of the largest lists of supported cryptocurrencies An example of data being processed may be a unique identifier stored in a cookie. Soon after the first crypto token, many other cryptocurrencies forayed into the mainstream. You cant keep fiat currency in Kucoin, but you can keep digital currencies. As there is no current law on the books banning US citizens from trading on any platform. DISCLAIMER: Crypto Chronicle exists to thought provoke and learn from the community. WebGrowth Customer. Other exchanges let you deposit money and then choose how and when you want to spend it. As a best Singapore crypto exchange with a worldwide reach, KuCoin is a convenient option accessible from most countries. For example, margin trading allows you to leverage your position, which is essentially borrowing money to buy more crypto. To start trading on KuCoin in the US freely, just follow the steps below. If you are in possession of the platforms native Kucoin Shares tokens, then you can reduce your fees further. If you looking to open an account at Kucoin for your crypto trading needs, then we would suggest that you read our comprehensive review first. This includes popular coins like Bitcoin (learn how to buy bitcoin with a credit card) and Ethereum, as well as more obscure ERC-20 tokens. KuCoin does let you buy cryptocurrency with fiat money, but you'll need to do it through a third-party app. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Kucoin does not accept debit/credit cards, nor any other fiat currency method for that matter. To trade it, I had to move my assets to the Trading Account. Stay on the righteous path and think long and hard before making any financial transaction! Compared to crypto exchanges like Binance, it is pretty low. 2023/04/04 19:05:48. The KuCoin platform allows credit card purchases. However, as youll see from the list below,Kucoin does not accept users from the U.S. Below is a list of all countries accepted by Kucoin. You risk having your account frozen and not being able to access your crypto if you use an unregulated exchange. "acceptedAnswer": { KuCoin web browser offers multiple languages right including English, Russian, Hindi, and Portuguese, among others. 1 star equals Poor. Kane holds academic qualifications in the finance and financial investigation fields. USDT, BTCS, ALTS, KuCoin shares KCS, etc., are significant opportunities in this section. The Motley Fool owns shares of and recommends Bitcoin. There\'s good news and bad on that: the bad news is that they don\'t have a phone number, but the good is that While this feature is the very essence of transparency enhanced by blockchain technology, the security is further enhanced by different safety protocols. With a passion for all-things finance, he currently writes for a number of publications in the online space. Compared to its alternatives, KuCoin provides better customer service to its customers & it is available 24*7. Web wallets are the most unsecured way of storing funds, as if the platforms servers were compromised, you could have your tokens hacked. 2 stars equals Fair. Lastly, account verification is to confirm the withdrawal request in the form of either email verification or 2 Factor authentication. For instance, when a trader wants to buy KCS using BTC, they must choose the BTC market and search for KCS utilizing the search tab. Customer support of KuCoin is quite robust. Step 3. Although live chat is supported, waiting times are always really long. However, they must file their FBAR if they fall above the FBAR threshold as KuCoin is not based in the US. 4 stars equals Excellent. You wont be able to connect KuCoin to your bank account- meaning youll need to buy your coins on one of Coinbase, Gemini, Kraken, Binance.US, or Voyager. As stated before, there is no deposit fee, however, the withdrawal fee is determined by the currency involved. ", Buy Crypto For example, it is cheaper to withdraw Bitcoin using KuCoin's own network than the Bitcoin network. Nevertheless, the site features tutorial sections in the support and FAQ sections making it easier to understand. You have to track every transaction and calculate your gains and losses, and report them to the IRS. There is also a fast buy option to receive cryptocurrencies instantaneously. View More Community The KuCoin Global Community is home to millions of users from 200+ countries, with support for 20+ The good news here is that you live in the US (any state) you can get access to all the exotic alt coins on KuCoin. It's a platform with a lot of potential, but is best right now for experienced traders living outside the U.S. With FUD, fraud, and financial turbulence, cryptocurrency is an innately dangerous game. If you want a secure exchange with no withdrawal fees: Gemini stands out for its strong security features and dedication to regulation. Its a jungle out here. KuCoin also has a strong social media presence where customers can also reach the customer support team on platforms like Facebook, Twitter, LinkedIn, etc. For example, when I first deposited crypto with KuCoin, it went into the Main Account. Webkucoin support customer number 1-843-864-2439 Customer Phone Number. Users can enjoy the benefits of having fractionalized fungible tokens (FTTs) with no barriers to entry, a centralized trading experience, and other secondary market trading features. Kucoin is one of the largest Crypto exchange platforms in the world. Since KuCoin doesnt officially operate in the US, they arent required to report anything to the IRS. The loan tenure ranges from 7 to 28 days, where the lender can earn up to 12% annualized interest. Kucoin is a traditional third-party cryptocurrency exchange, insofar that they stand between buyers and sellers. NYSE reports the highest percentages of traded stocks and assets in the world. KuCoin is not licensed to operate in the United States, but if you live there its tempting for your bank account or credit card information. But you can only do it from third-party apps like Apple Pay, Google Pay. They offer low trading fees and fast transfers, all while giving users access to KCS token sales early! It also is described as the platform that enables users to make profits with a plethora of services and products. I love that they have hundreds of exotic altcoins, allow futures trading (complete with shorts and using leverage), have functionality to set stop losses and take profits, and provide a staking platform.Regardless, cryptocurrency is still an asset class thats 12-15x more volatile than stocks. You can buy KuCoin's native token (KCS) to reduce fees and earn rewards. Because it does not hold licenses in America, Kucoin users will have restrictions on how much they can withdraw and from where if trading within American borders often making them tempting targets for US-based hackers looking to steal funds! KuCoin offers a variety of features to give traders even more options. There are also a lot of fees. But, our question arises, is KuCoin safe? KuCoin Review Tap to Spot Trading on KuCoin & Explore, KuCoin Review Choose the Order Type While Spot Trading at KuCoin. These revenues are linked to the fees Kucoin makes via its facilitation of trading. However, crypto bots are not as developed as robo-advisors. KuCoin offers a demo account for individuals who are new to trading. Crypto Exchanges. The different facets of the KuCoin platform have their steps or protocols. Our experts reviewed the most important things that you need to consider, such as regulation, fees, supported coins, payment methods, and more. If you find yourself in a position where KuCoin is your only option for trading cryptocurrencies, be aware that they are not licensed by any American authorities. That said, you won't have the same protections you'll get with a normal bank, so make sure you're comfortable with the additional risk. Under the Assets tab, there is an Overview button, under which, users can find the withdraw option. } } Your decisions are yours alone and we are in no way responsible for your actions. Although Kucoin is great for low trading fees and an extensive range of supported coins, the platform does not have any relationship with fiat currency. } Note that the content on this site should not be considered investment advice. Nevertheless, US citizens above the FBAR threshold must include it in FBAR filings as KuCoin is a non-US-based exchange. Although Kucoin was only launched in 2017, the platform is now one of the most popular cryptocurrency exchanges in the industry. In addition, KuCoin offers multiple auto-trading and financial tools like trading bot and cryptocurrency lending, making it a preferred exchange for passive earnings. Now that your Kucoin account is open, you need to deposit some funds. KuCoin is a highly regulated platform and is a popular exchange at a global level. Head over to the Kucoin homepage and click on SIGN UP. All investments are your own decisions. Enjoy the Services of Crypto Loans at KuCoin. KuCoin allows cryptocurrency holders to file their taxes related to the profits made with ones cryptocurrency holdings. "@type": "Question", KuCoin is a low-fee cryptocurrency exchange that allows traders to get access to several interesting features. Using leverage in crypto is the definition of insanity. However, as discussed above, if you want to use its advanced features, you'll need to verify your account. Kucoin does allow people who wish they could purchase some altcoins using their bank account but unfortunately, KuCoin doesnt provide direct deposit options and also charges pretty steep fixed rates depending on how much volume youre going afterwhich means if your order size isnt too big then expect an even higher rate. Best Homeowners Insurance for New Construction, How to Get Discounts on Homeowners Insurance. That's true if you're depositing crypto or are able to make a bank transfer. KuCoin lets you buy, sell, and store a wide range of cryptocurrencies. "name": "How Do I Deposit Money Into KuCoin? I like Warren Buffetts adage about trading and portfolio activity- with investing, as motion increases, returns decrease. Dont just do something, stand there! Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort If you live in the U.S, you may be tempted to use KuCoin without completing the KYC verification. KuCoin can be a great exchange to add some alts to your portfolio. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. KuCoin Review Explore the Services of KuCoin P2P. "@type": "Answer", As stated earlier in this KuCoin review, the platform offers a wide variety of products and services, from trading crypto-assets and derivatives to lending crypto tokens. There are a few risks when using KuCoin in the US. "@type": "Answer", The KuCoin Cryptocurrency exchange is easy to use, but the Fast Buy function didnt work for me. KuCoin has a much broader selection of cryptocurrencies than you'll get at many exchanges or brokerages. KuCoin exchange offers four order types: Limit Order, Market Order, Stop Limit Order, and Stop Market Order or Market Stop-Loss Order. Despite all of this hassle though, live support chat responded quickly when I contacted them about it so everything turned out well in the end. Upon clicking that option, the trading market opens. Taking traders to the world of NFTs, KuCoin introduces its range of NFT Platforms designed to cater to the needs and requirements of traders worldwide: KuCoin Wonderland is an intuitive and interactive launch platform for NFTs designed by the KuCoin trading platform for traditional and crypto games. KuCoin also offers some less common features, such as trading bots, leverage, and margin. },{ To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. eToro - Our Recommended Crypto Platform Step 4. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. Although, it also features a myriad of services and products to cater to the needs of a broad spectrum of traders and trading preferences. As youll see in the screenshot below, you need to enter the amount that you want to buy or sell, and whether you want to place a market order or limit order. And the answer is it is completely safe and legal. The tax part is on you. Kucoin lists just under 200 individual cryptocurrencies on its platform. Users can expect to pay between 0.005% and 0.10% per trade, and a 20% discount on trading fees is offered when using its token, KuCoin Token (KCS). KuCoin has no restrictions on the exchange between fiat and crypto, and supports over 50 fiat currencies through our P2P market and credit/debit card channels. The customer support representative told me that they are aware of how risky it would be for people who buy bitcoin with cash since law enforcement could track them down and seize their money. Users can buy and sell crypto coins like BTC, ETH, LTC, etc. The customer service offered is better when compared to some of its alternatives. These crypto-assets are responsible for the high volatility of the crypto market, making them ideal for speculative investments. KuCoin claims 1 in 4 crypto holders worldwide use its service. KuCoin is a way for me to invest in smaller altcoins like LUNA, AVAX, and others. The risk factor associated with leveraged tokens is deficient as they never liquidate. Once this is done, the correct wallet address must be entered for receiving the digital currency. If this is your first time in the crypto domain then the easiest way to trade crypto by using this platform is first to create an account & then start trading. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. Demo trading accounts are thus an easy solution to create trading strategies that work. KuCoin has the lowest trading fees, even before the discounts and bonuses. Nevertheless, here is thefull list of supported coins at Kucoin. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. "text": "To withdraw money from one’s KuCoin account, it is imperative to first login into their user account. WebThe KuCoin app and website allow you to start crypto trading with ease. But Futures Grid has two unique features that can help investors increase their profits. 2021 CryptoChronicle.io All rights reserved. Experienced cryptocurrency traders can get the most out of KuCoin's advanced features, low fees, and wide range of coins. Accessing KuCoin exchange in the USA As stated earlier, the KuCoin platform is not licenced and regulated in the USA. "text": "KuCoin is a highly regulated platform and is a popular exchange at a global level. Since there are a number of excellent cryptocurrency exchanges that are licensed in the U.S., it makes sense to check them out before signing up with KuCoin. As such, you can only fund your account with crypto. This gives you more capital power to trade large positions, thus increasing your profit opportunities. The USA has the highest trading volume in the global markets. It enables traders to use the crypto coin of other traders to acquire a higher capital amount for leverage positions. We think that you should only deposit funds with a heavily regulated exchange like Coinbase. It is free to deposit crypto, but you will pay to deposit fiat (traditional) money like U.S. dollars. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Instead, you are matched with other traders, and thus, Kucoin makes their money via trading fees. If youre either a U.S. resident or a U.S. citizen living overseas, then youll need to use a U.S.-friendly platform like Coinbase. KuCoin Peer-to-peer enables investors to move or exchange cryptocurrencies from their accounts to other users accounts without going through a broker or financial institution. Most of KuCoins staff operate in Singapore.My experience with KuCoin has been awesome. You'd then be able to use Tether to buy other currencies. For example, if you think the price of Bitcoin will be $100000 in March 2022, you can go buy a future Bitcoin contract from a willing seller. However, if you do want to proceed, then weve listed a step-by-step guide to help you get you started. The site features safety and security measures that minimize the risks associated with trading crypto digital assets. Copyright 2018 - 2023 The Ascent. Cryptocurrencies available for this service include USDT, ADA, TRX, ETC, ZEC, and LTC, among others. A SOCRadar dark web researcher discovered a post claiming that The Royal ransomware group had added Stanley Electric to its victim list. "acceptedAnswer": { We and our partners use cookies to Store and/or access information on a device. WebThe customer support and service offered by KuCoin is excellent. 101. The value of digital currencies can go up or down frequently. 71% of retail CFD accounts lose money. 74% of retail investor accounts lose money when trading CFDs with this provider. One of the greatest benefits of using a platform like Kucoin is that they have a hugely extensive list of supported cryptocurrencies. The KuCoin team is always there to support its users. If theyre discovered doing something wrong but whats even scarier about these exchanges? Shibarium 101: A Beginners Guide to Investing in Shiba Inu Cryptocurrency, Canada Advocates for Crypto Trading Platforms to Comply with Stricter Regulations, Shiba Inu: 1.4 Billion SHIB Burned by Whale in a Single Transfer, US Congressman Warren Davidson to Introduce Legislation to Fire SECs Gary Gensler, BRICS: More Countries Abandoning the US Dollar as Reserve Currency. In Kucoin, you get opportunities to trade in the future markets with margins of up to 100X. KuCoin Review Customer Support by KuCoin. Moreover, platform like Coinbase and eToro are much easier to use. To withdraw money from one’s KuCoin account, it is imperative to first login into their user account. "@type": "Question", And the fees can be steep. It allows users to trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Apart from that, you can leverage their Freshdesk-powered ticketing system and an FAQ section to solve your most pressing You'll need to use a more comprehensive platform like Coinbase for this. First and foremost is to always practice good cybersecurity hygiene. ASIC, CySEC and FCA regulated - 20 Million Users Worldwide Virtual currency usage has increased according to the KuCoin website; it has accumulated over 889 billion in trading volume (USD), surpassed 10 million global users, and amassed more than 879 million trades on its exchange since its inception in 2017; Technology-driven products. 81% of retail investor accounts lose money when trading CFDs with this provider. Trying adjusting the filter to see some results. Yes, US citizens can access KuCoin. Some of the popularly traded contracts include BTC and USDT. } If you think about all those insecure passwords weve seen over recent months on companies databases being leaked one by one then surely anything less than encryption should give us pause when trusting large numbers into someone elses hands! Funding for futures trades occurs once every 8 hours and the value is calculated accordingly. Ongoing Spot Campaigns. About KuCoin. 3 stars equals Good. Commission-free investing including stocks, options, ETF and cryptocurrency. BTC Quarterly contracts. The account verification process is optional, so people can trade crypto with just an email address. Step 2. You can do this by trading more or holding more of KuCoin's native token, KCS. Known as Kucoin Shares, those holding the token are accustomed to a share of the platforms profits. I hold these large caps in my hardware wallets. The program offers unique features like high commission, transfer and referral system, second-tier commissions, and premium brand features. TL;DR- while the formal answer to this question is no, the more accurate answer would be partially. Set up both SMS verification and a separate trading password. This wide range of cryptocurrencies includes popular coins like Bitcoin and Ethereum -- and is one of the main reasons I use the platform. Interact with global crypto investors and gain access to timely and trusted crypto news. if(typeof ez_ad_units != 'undefined'){ez_ad_units.push([[336,280],'arounduniverse_com-banner-1','ezslot_6',110,'0','0'])};__ez_fad_position('div-gpt-ad-arounduniverse_com-banner-1-0');KuCoin is a crypto exchange that lets customers buy cryptocurrency with fiat money.