With some users reporting connection times in the seconds, others have noted that waiting times are beyond acceptable. With that said, it all depends on how busy the team is at the time of the request. As noted above, KuCoin is not required to ask you for any personal information – nor will they demand sensitive identity documents.
At the moment, the lending service accepts USDT, BTC, ETH, EOS, LTC, XRP, ADA, ATOM, TRX, BCH, BSV, ETC, XTZ, DASH, ZEC, and XLM cryptocurrencies. Here, KuCoin allows you to exchange over 200 tokens and cryptocurrencies with reasonably low fees – every trade will cost you 0.1% as a taker or maker. I do find the KuCoin exchange to be a little less user-friendly as it is just too busy and packed with features that I do not need. The most traders will pay on KuCoin is 0.1% for both maker and taker, with KuCoin traders also able to save an additional 20% if they pay fees in KuCoin’s native KCS token. Both platforms have a tiered pricing structure based on trading volume. Interestingly, the lowest fees are 0% and 0.04% on FTX for high-volume traders, while KuCoin pays whales an incentive for high volume trading.
KuCoin offers 2-Factor Authentication to safeguard the user account. It further protects the traders’ personal information with advanced SSL encryption. KuCoin implemented many security features into its user interface.
But in a nutshell, KuCoin staking lets you earn daily interest on various cryptocurrencies. Yields can also be quite impressive https://picoinpriceusd.com/kucoin-vs-coinbase-which-crypto-exchange-is-better/ and easily reach over 10% annually. But using KuCoin if you live in the United States is a bit of a gray area.
- In the basic version of UI, you can see currency pairs trading, graphs and charts, trade history and order book.
- And, this is determined by the concerned bank or payment gateway.
- Bybit offers a comprehensive platform powered by TradingView charts with hundreds of built-in indicators and drawing tools.
KuCoin supports 50+ fiat currencies, but deposits may come with fees and trading with fiat is limited to about a dozen coins. ByBit only supports 2 fiat currencies, and is even more restrictive, only allowing trading with stablecoins. Both ByBit and KuCoin supports credit/debit card purchases, but with high fees. Bybit is a very popular cryptocurrency exchange aimed at professional traders with high-volume margin and derivatives trading available.
The Best Crypto Exchanges for Beginners of October 2022
KuCoin Win is like a lottery-style platform where users can win prizes. KuCoin Brawl allows users to wager USDT to simply bet other traders if they think Bitcoin’s price is going up or down. NFTplatform, which has seen some high trading activity as NFTs continue to skyrocket in popularity, while KuCoin offers automated trading bots accessible directly on the platform. Crypto exchanges generally have different trading fees for market makers and market takers.
Countries like China have outright banned all crypto exchanges from operating. Though not quite as intense as China, New York has implemented a strict BitLicense requirement for crypto exchanges to operate in their jurisdiction. Ensure to find out about any geographic restrictions the exchanges you’re considering might have and check out any other accessibility concerns . For example, if your favorite coin is not on the platform, KuCoin may include it in the future, providing that you communicate its merits to the exchange. A publicly available list of all supported cryptocurrencies and trading pairs can be seen here.
KuCoin Futures calculates the underlying spot price using the weighted price average from other exchanges like Kraken, Coinbase Pro, and Bitstamp. Additionally, users can participate by betting USDT on whether they think Bitcoin price will increase or decrease. Bets can be placed once per day, and there is a Wheel of Fortune to spin daily for a chance to win extra points.