KuCoin Exchange Named the Best Cryptocurrency App of 2022: Everything You Need to Know
PRESS RELEASE. Leading personal financial services’ evaluator, the Ascent, named KuCoin crypto exchange the best cryptocurrency app of 2022. The Ascent is a flagship product of world-renowned private financial and investing advice company, The Motley Fool. Ascent rated KuCoin Exchange based on factors like fees, selection of coins, customer reviews, KYC rules, security features and wallet availability.
Accolades from organizations such as the Ascent or Forbes—which named KuCoin Exchange one of the best cryptocurrency exchanges last year—reflect the platform’s significant growth volume and user base in recent years. The latest survey indicates that KuCoin Exchange received 10 million users by December 2021 from 207 countries.
In 2021, KuCoin Exchange’s cumulative trading volume hovered around $1 trillion (Spot & Futures trading) while the average daily trading volume reached the $3 billion mark. KuCoin Exchange Review 2022 on vetted ranking sites like CoinMarketCap and Coingecko always rank the platform among the top 10 cryptocurrency exchanges in the world. Here, is everything you need to know about the 2022’s no. 1 altcoin exchange!
About KuCoin Exchange
Dubbed as the People’s Exchange, KuCoin Exchange was launched in 2017. It is a Singapore-based cryptocurrency exchange with over 10 million users active across 207 countries. The exchange houses over 600 digital assets and 1100+ trading pairs. Currently, the platform offers P2P fiat trading, staking, spot trading, lending, crypto derivatives and margin trading.
People’s Exchange Culminating into the Incubator of DeFi’s Evolution
KuCoin Exchange has brought to the limelight more than 640 crypto gems and supports 1100+ trading pairs. The platform bagged the title of the “People’s Exchange” for supporting niche cryptocurrencies that other exchanges do not support. Today, it is more than a People’s Exchange; in fact, it graces the space as the facilitator of DeFi’s several innovative implementations.
KuCoin Labs is the investment and research department of the exchange that introduced a $100 Million Fund to empower the DeFi ecosystem and metaverse projects. Despite all its far-reaching ventures, the team behind KuCoin Exchange continues to stay grounded—churning out improvements for its trading features, which is its primary selling point. In this 2022 review, let’s explore those very features that make KuCoin Exchange a stand-out crypto trading platform.
Features that Make KuCoin Exchange Truly User-friendly
From buying crypto on the platform to exploring various trading strategies, users get to navigate KuCoin Exchange conveniently thanks to its user-friendly interface. Features like trading bots and social trading assist new crypto traders get a taste of the domain without prior experience. Here’s a detailed overview of KuCoin Exchange’s user-centric features.
- Easy On-ramping With Fiat
As of 2022, KuCoin Exchange supports multiple payment methods for fiat to crypto on-ramping including USD, EUR, AUD, INR, CAD, GBP, etc. KuCoin Exchange supports 51 fiat currencies in total, having recently added 36 European currencies.
The platform supports debit and credit card purchases via Visa, MasterCard, ApplePay, and SEPA. KuCoin Peer-to-peer exchange has bank transfer as well as 20 different payment methods. Users can pay with Debit, Credit, Visa, Mastercard, ApplePay card and SEPA card. KuCoin Exchange also employs a fast buy option using which users can receive cryptocurrencies instantly.
- Competitive Fees
KuCoin Exchange charges no fees for depositing crypto. Buying and selling crypto on KuCoin P2P is also free of cost. The trading fees are significantly low at 0.1% per transaction which can be further reduced by 20% if traders hold enough KCS, which is the native token of KuCoin Exchange. KCS receives platform fees and distributes the fees among KCS holders as bonuses which can go up to 50% annually.
The fees for buying crypto using fiat currency depends on the payment option. However, SEPA card holders receive the best deal having to pay only 3.1% of the value with which the assets are bought. Again, withdrawal fees vary depending on the cryptocurrency involved. Please follow the chart above to find out the maker and taker fees for cryptocurrency futures contracts.
- KYC Leniency
KuCoin Exchange has a Know-Your-Customer (KYC) verification in place to combat criminals and money laundering. Nevertheless, account verification is optional, especially for small volume traders.
Accounts without KYC can withdraw 2 BTC in 24 hours, which is still enough for most traders. Comparatively, Binance only allows users without KYC to withdraw 0.06 BTC in 24 hours.
- Trading Bots
KuCoin Trading Bot is a user-friendly trading tool and is free to use. Users can start creating a trading bot with a few steps to automatically execute trading strategies. KuCoin trading bot supports 5 trading strategies: Spot Grid, DCA, Futures Grid, Smart Rebalance and Infinity Grid. Over 5 million bots have been created worldwide to help newcomers copy others’ settings and get started quickly.
- Social Trading
The KuCoin social trading platform was launched in October last year to facilitate large-scale crypto adoption. In 2022, courtesy of this feature, KuCoin is transforming into the first and biggest social trading platform in crypto.
The social trading platform is a go-to for traders looking for easy-to-obtain trusted crypto news feeds containing information on different token price moves, new listing, crypto news, trending coin, sector, portfolio, or topics, etc.
Additionally, the copy trading feature allows new traders to browse the most successful strategies on the platform, and create a portfolio that meets their return expectation and risk preference in one click
- Top-notch Customer Service
KuCoin Exchange offers 24/7 customer support via live chat and online ticket on its help center. The supporting staff are very responsive and patient and provide localized support across 9 local communities in Europe, SEA and other regions.
For Advanced Users KuCoin Exchange Offers Crypto Derivatives Trading
For advanced traders, the exchange provides margin trading and futures trading to help them amplify their gains from successful trades. KuCoin Futures is one of the top 10 global Futures trading platforms with over 3 million users. It now supports over 70 coins with up to 100x leverage. KuCoin Margin, on the other hand, serves over 2 million users supporting 70 coins up to 10x leverage.
Users can start with Futures Brawl if they are new to derivatives trading. Futures Brawl is more like a game and was launched with an aim to help newcomers learn about trading futures. Here traders get to compete with users globally, experience futures trading by going long or short and harvesting profit. Futures Brawl is a good platform to learn about derivatives trading strategies which users can later use to enter more serious trades.
KuCoin Exchange Offers Easy Ways to Earn a Stable Passive Income
KuCoin Crypto Lending offers a peer-to-peer lending market, where users can lend assets to earn passive income. For example, the APR for USDT ranges from 10% to 30% most of the time.
KuCoin Earn is KuCoin Exchange’s staking platform that users can additionally explore to earn a steady passive income. One of the best benefits of KuCoin Earn is that stakers receive the Pool of Liquidity tokens along with their staking returns.
KuCoin Spotlight and BurningDrop are two other features that users can navigate to get their hands on new crypto tokens. Coins listed on these platforms are carefully assessed by the KuCoin team before they are featured, therefore, making them trusted platforms for getting allocations on new projects.
To get latest updates on all new feature implementation, upgrades and announcements, follow KuCoin Exchange on Twitter, Telegram and Instagram.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
