A KuCoin review is one of the best ways for you to determine if the exchange is according to your requirement, suitability or not. There are several features that vary from one exchange to another, which is what makes it difficult for people to immediately choose a suitable exchange, especially if they are new to the crypto space.
As a beginner, knowing your options and then choosing an exchange based on the features and services available is the best practice to follow. However, in order to do that, you should know the details of the exchange.
This is why, it is crucial and important that you take a look at the benefits and drawbacks offered by the KuCoin exchange. The information mentioned below will help you determine if KuCoin safe and suitable for you to use. It will also help you get a good idea about what you should expect when you start using the exchange.
Here are the benefits and drawbacks of the crypto exchange.
KuCoin Review on its Benefits
Every crypto exchange offers some kind of benefits to the users. This is possible due to the high-end and impressive features offered by the exchange. However, before you dive into crypto investing or trading, you should know the benefits offered by the exchange as mentioned here in detail.
People who are new to the crypto space can opt for the KuCoin exchange as it is a beginner-friendly platform. This means that it has a simple and easy-to-navigate interface, which makes it easier for new investors to step into the crypto space. There are no complex procedures to follow. The beginner-friendly nature of the platform makes it more accessible to a large audience.
High-end Safety Offered
As a beginner, you should ask, “is KuCoin safe?” as this is the most crucial and important aspect of an exchange you should know about. Choosing a secure exchange is essential as it can help you purchase a digital asset with minimum risks.
This KuCoin review highlights that the platform is one of the safest and makes use of leading-edge security systems such as:
- Offline crypto wallets
- Advanced web security
- KYC (know your customer verification)
- Two-factor authentications (2FA)
Variety of Digital Currencies Available
Another major benefit of the KuCoin exchange is the multitude of cryptocurrencies the exchange offers support to. As a user of the exchange you should know that the platform offers support to more than 200 cryptocurrencies that you can choose from.
One of the Highest Leverages
Leverage trading is a popular form of trading and different platforms offer support to different leverage ratios. If you want to leverage trade any digital asset then you need to fully understand the concept first because it is a high-risk endeavor.
However, one of the benefits mentioned in this brief KuCoin review is that it offers one of the highest leverages, which is 100x on its future accounts.
Custom-made Mobile Trading Application
The KuCoin exchange is not only a popular cryptocurrency exchange for buying crypto but also for crypto trading. One of the features that makes crypto trading easier for people is the support it offers to the mobile application. It is a custom-made application and enables the traders to trade even while on the go.
If you prioritize your comfort and convenience above all else then you should know that another benefit of using the exchange is the support it offers to payment methods such as credit cards and debit cards.
Drawbacks of the Exchange
Every crypto exchange offers pros and cons because none of the platforms available are flawless. The drawbacks of an exchange may not be massive or unavoidable. Either way it is important for new crypto enthusiasts to know the drawbacks so they can determine if it is the right platform for them or not.
Here are the drawbacks mentioned in this brief KuCoin review.
- The KuCoin exchange is not so versatile and therefore, it does not offer any support to fiat-to-crypto trading pairs.
- Even though this platform is available in numerous countries around the world, it does not offer support to investors and traders in the USA.
- It is also somewhat limited as it only offers USDT futures account.
- It sometimes experiences low liquidity providers forex on low capitalization crypto assets.
A KuCoin review that addresses the pros and cons of the crypto exchange is the best way for you to determine if it is a good exchange to use or not. As a novice party, you should know the details mentioned above.