Kucoin is an exchange that has been on the market since 2013. It is more or less a pioneer in the crypto scene. It is not the largest exchange, but the overall offer is impressive and represents a good alternative to exchanges such as bitcoin.com and Coinex.
Both beginners and advanced traders should find a suitable trading opportunity. Kucoin offers more than 400 trading pairs and since 06-21-21 also ARRR/BTC and ARRR/USDT.
Kucoin is a pure crypto exchange and does not allow FIAT deposits and withdrawals.
The advantages include the 400 tradable cryptocurrencies, these are divided into 4 markets: BTC, KCS, USDS, ALTS.
Convert ARRR to other currencies
Registration is very easy and quick. At the beginning of the registration you have the choice to verify your phone number or your e-mail address. As pirates we recommend of course to register and verify with your e-mail address. You can use any conventional e-mail for this. Our recommendation: Protonmail. As soon as you have verified yourself, your account is activated. No further KYC verification is necessary, which makes this exchange even more interesting.
Kucoin also has to bow to governments and authorities and has introduced KYC. Kucoin itself writes the following about this:
“In order to continue to be one of the most trustworthy and transparent exchanges, KuCoin officially implemented KYC on November 1, 2018, which ensures that KuCoin meets the development rules of the virtual currency industry. Moreover, KYC can effectively reduce fraud, money laundering, and terrorist financing, amongst other malicious activities.”
With the KYC process, Kucoin secures itself and offers the KYC-verified user a higher daily withdrawal limit. Furthermore, users who have completed the KYC verification can also participate in KuCoin’s fiat crypto service. You can withdraw up to 5 BTC daily without verification.
“To ensure your account security and prevent money laundering and terrorism financing, the 24h withdrawal limit is restricted to 5.00000000 BTC. Complete the KYC verification and the withdrawal limit will be increased to up to 500 BTC”.
Deposits to your KuCoin account are quick and easy. To do this, go to the management of your main account. In the tab on the top left you will find the options for KuCoin deposits. Choose your coin, your address will be assigned and generated. As soon as the transcation is confirmed, depending on the network, your Coins will be credited to you and you can trade.
It is similar with the payout. You will also find this in the main account management. Follow the instructions to transfer to your address.
The fees for both trading and withdrawals are manageable. Deposits are completely free of charge and trading fees are 0.1 percent. Depending on the cryptocurrency, there are sometimes no fees at all for withdrawals. For ETH, ERC20 tokens and other cryptocurrencies, the network fee is passed on to the user.
Like all others, Kucoin focuses on security. For example, 2-factor authentication is required after successful registration. Kucoin educates its users to more security, which is positive. Sensitive data in encrypted and additional security layers as well as the storage of assets in cold wallets have increased security. For us as pirates, privacy is also important. Let’s not kid ourselves, we are not really anonymous, yet there are some things we can do for it ourselves. Kucoin only expects an email address if you don’t withdraw more than 5 BTC per day. That is a big plus for privacy.