KuCoin for Beginners
What is KuCoin?
KuCoin was launched in 2017 as an international cryptocurrency exchange platform that primarily caters to investors or traders.
Thanks to KuCoin’s features, there’s a lot to gain. Apart from its standard trading platform fare and convenient, smooth UI, it also provides futures, P2P, and margin trading.
Users may trade around 400 different cryptocurrencies on the platform, which is a lot as compared to other exchange sites. Plus, it has some of the lowest base fees among other crypto market exchanges, which increases its popularity by a notch.
Simply put, if you’re in search of a beginner-friendly cryptocurrency with cheap transaction fees and a robust trading environment, there’s no better option than KuCoin.
Depositing and withdrawing on KuCoin
KuCoin collects all of the different account types in a single, detailed dashboard, and transferring funds from one to another is effortless.
However, you should use your main account’s tab for deposits and withdrawals.
On the right side of every asset, there are options to lend, transfer, deposit, and withdraw.
By clicking on the deposit button, you can pretty much deposit any cryptocurrency.
Ensure that you’re in the right network when the selection option is available. For example, with USDT, you can use Algorand, EOS, TRON (TRC20), and Ethereum (ERC20).
You’ll see the address you need to transfer funds to – this is the KuCoin address of your main account. Once you have deposited the funds and are ready to trade, you’ll have to transfer them to your ‘trading account’ by clicking the transfer button.
Reverse this process and you’ll be able to withdraw money.
You should put a remark (optional), input the amount you want to withdraw, input the destination address, and specify the network you want to use.
Once you deposit and transfer your funds to your trading account, you’re ready to start trading. Let’s look at how:
Trading on KuCoin
Open the exchange and you’ll notice you’ll have to input your trading password (in the bottom right corner). This is an important security measure. Ideally, you should set it up when you’re preparing your account. Once you’re done with it, it would unblock the different orders automatically, and you’ll be ready to start trading.
The interface is easy-to-use and sleek. The main panel has a chart. You’ll find your favorite trading pairs on top of it. There’s the order book on the right side, below which are the different types of orders you can open.
You have your positions panel right below the chart, where you can see how your trades are going.
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