Today, we’re talking about Kucoin, one of the best crypto exchanges in the world. So far, we’ve also written about Coinbase and BitForex. We use all of these cryptocurrency exchanges.
It’s always a good idea to spread your assets. This includes spreading your sources too. For cryptocurrencies, it’s in your best interest to spread your trading on different platforms. This will ensure that you aren’t reliant on just one platform. There are numerous cases when people badly needed to trade but their crypto or stock exchanges couldn’t keep up with the volume. A single trade of some magnitude could have made you uber-rich or uber poor.
Kucoin in a Nutshell
Pros:
- Low trading fees
- Wide cryptocurrency selection
- Can work with no KYC up to a certain point
- Buy crypto with fiat
- userfriendly UI
- Has margin trading
- Staking is native
Cons:
- Kucoin is not fully “authorized” in the US yet
As you can see, there are more pros from Kucoin than cons. Kucoin is one of the most popular exchanges around. It boasts that 1 in 4 crypto traders use Kucoin and we can see why. It has one of the most user-friendly UI around (at least for us). Kucoin also has a decent amount of altcoins available. It offers almost 400 coins in the exchange. It supports the most popular altcoins and occasionally offers some up-and-coming altcoins. Of course, you’re going to have to do your own research when it comes to the “riskier” options.
And since Kucoin is one of the most popular exchanges, trading is easier. You’re almost guaranteed to get to trade because of the sheer volume. Staking is available natively from the app. If you don’t like going from one exchange to another, then Kucoin offers that kind of convenience.
For investors looking for value, Kucoin Crypto Exchange has one of the lowest fees around. If you trade often, then this might be a big selling point for you. If not, then it’s still a great place to invest in for you. Advanced users can enjoy up to 100x margin trading. If you’re confident enough in your trading prowess, then Kucoin might be perfect for you.
If you’re a beginner and would just like to buy and hold, then you might as well just stake your cryptos. Staking will at least give you extra passive income for the coins you trust would go up in value.
How does it hold up with Coinbase and BitForex?
KuCoin sits comfortably in between Coinbase and BitForex. Coinbase is best for newbies who want a simple no-nonsense interface. BitForex is for people who’d prefer not to do KYC. All of these exchanges are great on their own though. And these statements are in not enough to summarize each exchange. Please check out our reviews of Coinbase and BitForex too here.