Research for a Blockchain technology that would work best for KuCoin began back in 2011, but the technical architecture would just be built three years later (2013). In 2017, the exchange officially began its operations with the main aim of becoming one of the leading global exchange platforms by 2019, which is just one year away.
Within this limited amount of time, KuCoin has been able to find its way to the top of the ladder; moving from just a minor newbie in the industry to the position of the 18th largest exchange when it comes to 24-hour trading volume.
With its head offices in Hong Kong, KuCoin Exchange now supports the operations of so many digital assets. The exchange was founded by Michael Gam, who previously worked with Ant Financial, one of the highest rated fintech firms in the entire world.
What Sets it Apart?
One thing that makes this exchange different from others in the market is the fact that it follows a system of profit-sharing and distributes half of their daily trading fee revenue to its consumers who posses KuCoin Shares (KCS) – its exchange-based tokens. Just as one of the market competitors, Binance, KuCoin also provide averagely reduced fees of trading as well as the incentives for holding its native virtual coin – KCS. KuCoin is one of the international exchange platforms that have a positive reputation as early adopters.
This would work best for the kind of buyers who might want to hold the coins while they are being sold at affordable price. Besides this, KuCoin also provides its users with an effective charting package. This charting package is fully supported by the 3rd party TradingView system. This is the only way it can suit more traders that are much focused.
In brief, here are some of the benefits of using KuCoin
• It provides a broad array of currencies that users can trade with
• Being an early adopter, it has some of the most promising digital assets
• Zero verification needed
• There are extra features that are provided by its native coin- KCS
What are the Trading Fees for KuCoin?
Apart from what users will pay for moving a particular currency from one currency to another, there are no deposit fees. The trading fees for KuCoin have been set at 0.1%, which is very competitive given the current happenings in the market. The trading fees are exclusive of the kind of discount that the trader might get from holding the KuCoin shares. When it comes to the fees for withdrawal, they are based on the type of currency a user is trading with. Whereas most of them are entirely free, there are some that are averagely expensive.
Traders love this exchange platform because it offers many reasonable and affordable fees as compared to a number of other exchanges. Users will, however, deal with the fact that the currency does not support any kind of fiat currencies.
They will have to look for either ETH or BTC to be able to trade the whole range of the coins that are in store. On top of that, traders will also have an opportunity to trade an endless selection with KCS, which is the main coin of the exchange, USDT or Tether, Bitcoin Cash (BCH), and NEO.