KuCoin platform offers numerous types of trading options for users. Even though you’re a beginner, you’ll have lots of resources to consult when you start. Though KuCoin has many safety features, it doesn’t be the rules of any government licensing bodies. KuCoin is a common cryptocurrency exchange that’s utilized by various folks across the globe. KuCoin permits its users to be a neighbourhood of the crypto disposition program through its platform. You’ll lend the cryptocurrency you own to others and earn interest. Currently, the KuCoin Crypto platform supports the lending of over fifty styles of crypto together with KCS USDT. Further, let’s move towards how we can exchange crypto using KuCoin.
KuCoin Wallet Adds Native Swap Feature
KuCoin is applying the innovative guide algorithmic program developed within the KuCoin wallet application to administer users access to all-time low rates supported by aggregating over 250 liquidity sources. The launch has become attainable once intensive beta testing of the KuCoin wallet, including over 70000 registered users, provided valuable feedback regarding the application’s operability. The native swap performance users from airing to third-party services and exchanges, permitting them to conduct all swap operations directly through the KuCoin wallet. The swap conjointly comes with a high degree of security, provided by the non-custodial nature of the KuCoin wallet, that hands over all quality custody and access to the users. A platform charge of a 1% fee is mechanically factored into every operation to spice up the KuCoin wallet event and ensure additional functions and amenities in the future.
Exchange Between Different Currencies
Exchanges between totally different cryptocurrencies can type a trading combine that reflects the quantitative exchange relation between the 2 tokens. For example, if USDT is employed to exchange ETH, ETH/USDT trading combined is fashioned. This trading combined represents what proportion of USDT is often changed for one ETH.
Difference Between Different Accounts
On KuCoin, there are four styles of accounts: the main Account, Spot trading Account, brokerage account and Futures Account. The Main Account is principally wont to store crypto assets, with deposits and withdrawals of crypto assets being conducted within the Main Account. The assets within the Main Account cannot directly participate in spot trading, margin trading or futures trading.
Spot trading Account
The assets within the trading account are solely used for spot trading.
The assets within the brokerage account are solely used for margin trading.
The assets within the futures account are solely used for futures trading.
KuCoin supports cryptocurrency deposits to Main Account, trading account or brokerage account, and users will opt for the connected accounts for a deposit on the deposit page. Cryptocurrencies purchased by the users through their native currency are held within the Main Account by default. If you wish to trade among cryptocurrencies, you would like to transfer the assets from your Main Account to your trading Account. The crypto assets are often transferred back and forth between most Accounts and trading Accounts with no group action fees.
On the KuCoin Spot trading and margin trading markets, the trading fee is 0.1% of the group action quantity. However, the trading fee is tormented by the user’s important personal level. The higher the important person level, the lower the trading fee. For additional info, click Fee at an all-time low on the official website. Additionally, you’ll enjoy a 20% discount if you utilize KCS to pay trading fees.
If you want to lend your crypto through the KuCoin platform, you would like to match the present market rates before setting your required APY to extend the possibilities of your crypto being lent. As a loaner, you’ll set the expected annualized share yield that you want to earn on the crypto that you just area unit disposition. If the borrowers feel the terms are appropriate, they’ll request to borrow the crypto from you. The KuCoin platform ensures that every one of the fund’s areas is repaid, which creates a way of security for the lenders. KuCoin incorporates a layer fee structure, and also the prices typically tend to decrease once you have the next trading level. The fees charged by KuCoin are quite low compared to alternative exchanges. Also, KuCoin provides the best crypto exchange service, which we discussed in the above portion.