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Kucoin Cryptocurrency Exchange in Singapore
Company Overview
KuCoin is among the fastest-growing crypto exchanges in the world and is the fifth-largest exchange based on its market capitalization. It was launched in 2017 by Eric Don and Michael Gan and is headquartered in Seychelles.
The company behind KuCoin is on a quest to promote the worldwide free flow of cryptocurrencies and currently hosts over 11 million users in more than 200 countries. Its goal is to provide users with the safe and convenient exchange of virtual assets.
One of the most appealing aspects of using the KuCoin exchange is that it has a large number of supported cryptocurrencies, including well-known cryptos like Bitcoin and lesser-known crypto tokens such as Gari. Moreover, the company offers a variety of features such as derivatives, margin trading, crypto lending, futures, spot trading, and more.
How Does KuCoin Cryptocurrency Exchange Work?
KuCoin allows you to purchase, sell, and hold a variety of cryptocurrencies. It has an innovative mobile app as well as an online interface that traders can use. To lower fees and earn with KuCoin’s great incentives, you can acquire KuCoin’s native coin (KCS).
Users can trade cryptocurrency using just their email address if they don’t want to go through a lengthy account verification process. However, you must validate your account in order to enjoy some of the platform’s more advanced features.
With KuCoin, you could either keep your cryptocurrencies on the platform or link a third-party digital wallet and trade from there. This is a fantastic choice for those who want to ensure that their assets are safe.
To find out more about managing cryptocurrencies, check out our SMFS guide! Want to learn more about technical terms like “spreads?” Click here for more information.
Features of Kucoin Crypto
Margin Trading
KuCoin is among the few cryptocurrency exchanges that allow consumers to open a margin account. This risky investment strategy will enable you to borrow money to increase your profits.
However, this will also increase your potential losses, which is something to keep in mind if you choose this trading method. When investing in an already risky and traditionally volatile commodity, using margin substantially increases the level of risk you can take on and therefore is best left to seasoned cryptocurrency investors.
Spot Trading
Another trading strategy that KuCoin supports is spot trading. It is the practice of purchasing and selling commodities at the current market price, sometimes known as the spot price, to receive the underlying asset instantly.
Day traders prefer this trading strategy because it allows them to conduct short-term bets with minimal spreads and no expiration date.
Futures Trading
Unlike other forms of trading, futures trading doesn’t trade in shares or stocks. Instead, it involves trading contracts.
One person agrees to acquire a specified number of securities or commodities and accepts delivery of these assets on a set date. The contract’s selling party will agree to provide it.
In mid-2019, KuCoin introduced its futures platform, which was formerly known as KuMEX. You can trade margined Tether and Bitcoin contracts with a maximum of 100x leverage. This means that with only $100 in your KuCoin trading account, you could trade up to $10,000 worth of futures.
Peer-to-peer Platform
KuCoin’s peer-to-peer exchange platform is another useful function it offers. You can purchase and sell cryptos such as BTC, USDT, PAX, ETH, and CADH directly from or to other retailers using this platform. To use the KuCoin P2P exchange, you must first validate your KuCoin trading account.
Interact, PayPal, wire transfers, and other prominent payment options using fiat currencies such as CAD, USD, VND, CNY, IDR, and CAD are all supported by the P2P platform.
Instant Exchange
KuCoin’s instant exchange, which was created in collaboration with HFT, allows for instant cryptocurrency exchanges. The service, which is currently free, finds the best exchange rates for you. Presently, you may trade BTC, BCH, ETH, LTC, and XRP for USDT and BTC on this exchange platform.
KuCoin’s Fast Buy Feature
With VND, IDR, and CNY fiat currencies, KuCoin Fast Buy enables investors to purchase and sell USDT, BTC, and other cryptocurrencies. It’s ideal for making low-cost cryptocurrency purchases with payment methods such as WeChat, bank cards, Alipay, and other conventional options.
Design and Usability
Even for newcomers, KuCoin is simple and easy to use. It has a sleek, contemporary design that continues across all its web pages and is supported by a robust API interface. The exchange employs a sophisticated core trading engine capable of processing millions of transactions per second.
Users can also switch back and forth between the old and new user interfaces. Both are useful in their own right, so choosing which exchange layout you prefer is left to you.
Table of content
Pros
- Easy-to-use interface
- Allows anonymous trading- no KYC
- Good range of coins
- Supports multiple payment methods
- App available on Google Play and iOS store
- Offers advanced trading tools
Cons
- Does not offer wallet
- Poor customer support
- Occasional longer maintenance periods
How to Create a KuCoin Account from Singapore
When creating a KuCoin trading account in Singapore, you can sign up in two ways.
Sign Up Using Your Email Address
- Go to the KuCoin official website and click “Sign Up,” which you will find in the top right corner.
- You will then be sent to the registration page, where you can sign up for a KuCoin account using the “Email” option. Hit the “Send Code” button after entering a valid email address.
- Next, you’ll need to complete the verification process. KuCoin will send a verification code to the email address you specified. To confirm your email address, access your email account, copy the code provided, and enter it when prompted by the website.
- Once you have verified your email address, you can create a password for your account. Review and accept terms of use and complete the registration process by clicking “Sign Up.”
- Congratulations! You now have a KuCoin trading account!
Sign Up Using Your Mobile Number
- Visit the KuCoin official website and look for the “Sign Up” option in the top right corner of the homepage.
- You will then be taken to the registration page, where you must register using the “Phone” option. Tap the “Send Code” button after selecting the Singapore country code and entering your mobile number.
- Next, you’ll need to complete the verification process by verifying your mobile number. KuCoin will send you a verification code by text messaging to the phone number you specified. To complete the verification process, enter the code you received.
- Choose a password for your account and accept the terms of use before hitting the “Sign Up” button.
- Congratulations! You have created your KuCoin trading account!
Funding Your KuCoin Account in Singapore
Before you can begin trading, you must first fund your account. KuCoin currently accepts a number of payment methods. How you fund your account will depend on which device you’re using.
In the section below, you will find instructions on how to fund your account via the website and the KuCoin mobile app.
Bonus
KuCoin
Depositing Funds on the Kucoin Official Website
If you’re using the web platform to make your deposit, follow the steps below to fund your trading account.
- After logging in to your KuCoin trading account with the password you created when signing up, click on “Asset” in the bottom left corner and select “Main account (Deposit and Withdraw)” from the list.
- Next, click the “Deposit” button and select the currency and account you would like to transfer funds from in the drop-down list. Alternatively, you could search for the currency using the search feature.
- Finally, to deposit funds into the appropriate KuCoin account, you will need to copy the deposit address and paste it into the withdrawal section when prompted.
- With KuCoin, deposits reflect in your trading account pretty quickly, so you should be able to get started with your KuCoin trading journey in no time!
Making Deposits on the Mobile App
Suppose you need to deposit funds on the go. In that case, you can use the mobile app. Follow these steps to deposit funds into your KuCoin account in Singapore.
- Log in to your KuCoin account on the mobile app, go to the “Assets” section, and select “Deposit.”
- The next step is to choose a currency from the menu or search for it using the search feature.
- Finally, select the account you would like to transfer into, copy the deposit address, and enter it when prompted.
The KuCoin Trading Experience
When choosing a trading platform in Singapore, it is crucial to consider the trading experience you can expect. The truth is that most serious traders don’t just trade to make a profit but also to enjoy the experience.
Demo Account
To ensure that you have a good trading journey, KuCoin has gone out of its way to ensure that its user interface is easy to use. Moreover, the platform offers a demo account, which is a great tool to use if you are new to trading or want to familiarize yourself with the platform.
You can use the demo mode to develop a successful trading strategy without having to risk losing any real money.
A Host of Helpful Features of Kucoin
KuCoin users may view marketplaces, acquire cryptocurrency, trade, lend, and more once signed in on mobile or desktop.
The exchange allows four types of orders, namely:
- market
- limit
- stop-limit
- stop-market
It also supports margin, futures, and peer-to-peer trading. Additionally, KuCoin allows staking, and it offers a trading bot function to help with the trading process.
An Innovative Trading Bot
This automated trading robot uses an algorithm to analyse and predict market movements. It can help execute trades on your behalf, which is a great feature, especially if you are a beginner or don’t have the time to invest in direct trading.
If you are having trouble navigating the platform or have any questions, KuCoin also offers excellent customer support.
What Are KuCoin Shares?
The exchange was founded with the help of KuCoin Shares (KCS). There were 200,000,000 KCS issued and given to developers and private investors. KCS holders can expect the following privileges:
- Regular crypto dividends, which make up half of the trading fees that the company collects from traders
- Great discounts on trading fees (minimum of 1000 KCS for one percent discount and a maximum of 30,000 KCS for a 30 percent discount). To determine the appropriate discount rate, the program captures a daily screenshot of users’ KCS assets
- BTC, LTC ETH, USDT, NEO, XRP, CS, EOS, and GO are among the additional trading pairs that KCS holders have access to
- Unique offers and perks
Kucoin Cryptocurrency Customer Support
Another important consideration when selecting a trading platform is the customer support it offers. Suppose you have a problem setting up your account. In that case, you should have access to the help you need when you need it.
KuCoin provides a variety of customer service options, yet, like many of its competitors, you cannot reach a representative directly by email or phone.
You can, however, participate in a live chat to receive answers to basic concerns or file a request for help to receive support with more complex matters.
If you need assistance using the website or trading tools and features, the platform also has a help page. Moreover, you can also reach out to the company through social media. Currently, the exchange can be contacted via the following social media platforms:
- YouTube
- Telegram
- Medium
Unlike many other crypto platforms, KuCoin’s customer support will get back to you quite quickly to help you resolve your issues.
Free quently asked questions
1Is KuCoin Cryptocurrency Exchange safe?
KuCoin is a safe platform and does not have any history of security breaches or cyber-attacks. It is one of the most advanced and secured cryptocurrency exchanges with more than 8 million users.
2Are there any trading fees on KuCoin?
KuCoin has a very simple trading fee structure and charges both market makers and market takers a 0.1% fee. However, some fees may vary depending on the trading levels and trading pairs used by customers.
3How long does KuCoin take to process withdrawals?
KuCoin takes about 30 minutes to process the withdrawals of smaller amounts. In case of larger amounts (over 100,000 times of the handling fee), the withdrawal process may be a bit longer, as KuCoin processes the transactions manually to enhance the security of your assets.
4Will My Funds Be Safe with KuCoin?
Because exchange platforms have been hacked before, many traders worry about storing their crypto assets on these platforms. While we don’t recommend holding cryptocurrencies for long periods on any exchange, KuCoin is one of the safest exchanges on the market. It has one of the most advanced security systems and service teams in the world, and it is always enhancing its security measures to keep user funds and assets safe.