Kucoin is another cryptocurrency exchange gaining a lot of popularity these days. The team behind Kucoin started research work on the Blockchain technology in 2011 and achieved the milestone of creating an exchange in 2013. Kucoin started its operations officially back in 2017. It took a few years for the developers to strengthen this exchange before launching it for exchange operations. Kucoin has a very intelligent team of developers working consistently to improve the exchange and keep it secure. Kucoin also has healthy partnerships adding more to the reliability of this exchange. Kucoin is available in more than 10 languages at the moment. The exchange works in most countries of the world.
The exchange promises swift transactions with a minimal transaction fee. Kucoin has a very user-friendly interface to offer. In my personal opinion, an exchange must have an easy-to-use and easy-to-navigate UI. Kucoin is just about that. Kucoin can be used to trade between altcoins. It has a number of altcoins listed.
Kucoin is relatively new in the cryptocurrency exchanges. Users are still a little bit hesitant to opt for this exchange. Upon using it for quite a while, I reached the result that this exchange is totally worth using. Kucoin has absolutely no deposit fee. The withdrawal fee is quite small and it totally depends on the coin that you are willing to withdraw.
Exchanges have their own mechanism to introduce a new coin. For example, there are some coins that are available on Kucoin and not on other exchanges. Similarly, there are some coins that are there on exchanges like Binance, Gate.io, but they are not available on Kucoin. If you want to grab a coin that is available on Kucoin, but you have never used Kucoin before, you need to go through our comprehensive guide on Kucoin. There is a Beginner’s Guide To Kucoin Exchange on our site. You can use the Kucoin guide to buy, sell and trade cryptocurrency on it.
I personally used Kucoin to purchase DragonChain coin very recently. Since my experience was quite smooth, I’m writing this guide for everyone who wishes to get cryptocurrencies through Kucoin.
Before heading towards the guide, bear in mind that you cannot buy cryptocurrencies from Kucoin using a credit card. In order to purchase cryptocurrency from Kucoin, you either have to deposit Bitcoin, Ethereum or Neo in your Kucoin Wallet. If you want to purchase cryptocurrency using your credit card, you can use a website like Coinbase or Coinmama. To purchase Bitcoins from a local seller, you can use Localbitcoins.
Let’s move towards the ultimate guide to Kucoin Exchange now.
Beginner’s Guide To Kucoin Exchange – Buy/Sell/Trade Cryptocurrency
- First of all, go to Kucoin.com.
- Click on the Sign Up button on the top right corner.
- Enter your email address, your desired password and click next.
- Now open the confirmation email from the inbox of the email address that you used to sign up.
- After the email-confirmation, open your Kucoin account.
- You will be asked to setup 2-Factor Authentication now. Proceed with the 2FA setup.
- Download and install Google Authenticator on your smartphone.
- On your phone, open the Authenticator and tap the + button appearing on the bottom right.
- Now tap Scan a QR Code and then scan the code shown on the Kucoin screen.
- It will activate 2FA for your Kucoin account.
On the homepage of Kucoin, you can find multiple pages at the top. These include: Home, Markets, Assets, Settings, Explore and News.
Most of the tasks that we have to carry out on Kucoin will be done through the Markets and Assets pages only.
Buying Altcoins on Kucoin
- On the Kucoin home page, click on the Markets tab.
- You will see a page showing all the coins that Kucoin has at the moment.
- The top bar right above the coins list is showing the currency using which you can trade between the coins.
- You can use ETH, BTC, NEO, KCS and USDT to buy coins.
- Select the currency that you currently have in the Kucoin wallet. By default, the page uses BTC.
- Once you have selected the currency you want to begin the trading with, click on the Buy button appearing right next to the coin information.
- Enter your desired price, amount and the 2FA code from the Authenticator application.
- Place the order and wait for it to be filled.
Selling Altcoins on Kucoin
- Suppose you want to sell your altcoins and get your BTC, ETH, NEO or USDT back, you will simply open the Markets page.
- Select the currency against which you want to sell the altcoins.
- Now click on the sell button appearing next to the coin information.
- Enter the amount you want to sell, the price you want to ask and 2FA code.
- Place the order and wait for it to be grabbed.
Deposit and Withdrawal on Kucoin
- In Kucoin, click on the Assets tab.
- In Assets tab, click on the Deposit tab appearing on the left side.
- Now in the Deposits menu, you will find Kucoin Share KCS selected by default. Click the drop-down to select the currency that you want to deposit.
- Upon selecting the currency, you will get your wallet address for that currency followed by a few important instructions.
- You will share this address with the exchange or wallet from where you want to withdraw the coins.
- Under the Assets tab, you will also find Withdraw menu right next to the Deposit button.
- Click on the Withdraw button to pull up the entire menu.
- You will find Kucoin Shares KCS selected by default.
- Click on the drop-down to select your desired currency.
- Now in the form that just opened up, enter the wallet address to which you want to send your coins to.
- Enter the number of coins.
- Get the Authenticator code from your phone and enter it.
- Click on Confirm and wait for the transaction now.
If you place any orders in the market, they will appear in the active orders tab until they are fulfilled. All the buying and selling orders will appear in this tab.
The orders that have been filled will appear in the Dealth Orders tab. This tab also shows the history of your trades.
That’s all. In case you are having a difficulty understanding something, feel free to reach me out through the comment box below. I will try my best to help you out.
Here are a few guides to help you further.