If you want to do business with cryptocurrencies then make sure the fee will be applied – some are very expensive and a few could be payable. Paying a high fee might affect your business especially if you’re a beginner in this field.
To do more efficient work all you need to know is your chosen platform fee structure. When it comes to paying fees for trading then Kucoin will be remembered.
Well, what is Kucoin in actuality? and what are its values in crypto trading we’ll try to know this today? Come done and see something really related.
What is Kucoin?
Basically, kucoin is a trader-friendly exchange, featuring easy-to-get grading fees with a long list of available cryptocurrencies. It was established in 2017 Sept by Eric Don and Micheal Gan; within a few years, the exchange got a lot of popularity due to its basic features.
Does it have any Fee?
As I already mentioned, this exchange has the lowest ratio of trading fees among high-class exchanges. Today it is a well-known exchange for traders not because of the lowest fees but because of its amazing interface.
You can earn money in multiple ways by using this currency within margin, futurism, and peer-to-peer trading. It offers a particular level of its fee structure where everyone can get an idea before exchanging and buying/selling.
It has a 1 – 12 leveling system, like with the higher level of trading you have to pay a lower level of fee. The levels may vary with each passing day entirely depending on your last month’s average trading volume, your KCS, and your overall reputation.
A few requirements are fixed for each level so you have to meet their criteria at 00:00 AM (UTC+8) to come up for a level. Shortly the more you trade the more KCS can hold in a day so the fees will be lower as well.
How to check my trading fees level?
- It gives you easy access to check your trading fee level when you simply log in to your Kucoin account.
- Once you get a login, do not press the fee button on the given interface.
- On the page your current level will be shown; with a high level sometimes a negative fee rate might be applied.
- Often people think that the high-level businessman can have a low fee which we’ve explained above but occasionally the game can be changed. Kucoin still gives a chance to pay the lowest fee around even at the base rate like only on 0.1% fee on a transaction.
- 24 hours is the withdrawal limit for all, and the amount limit also depends differently on your level. It might seem complicated for some traders but Kucoin has a fixed fees strategy for everyone.
Make sure it gives a pretty much reliable and clear fee structure so that customers can simply understand and pay the fees with all transactions. If still, you’re not sure whether to proceed with Kucoin then you may check some online reviews of traders this way you’ll be confident about your exchange.
Is it secure?
Obviously, it is and everyone can rely on it without thinking too much. Aside from everything Kucoin authenticates the security system that users might note. Currently, it is working within a partnership with a Singapore-based chain custodian who helps it to store and save data.
The company assures it to save all crypto data of its customers. This platform also works great with industry-standard and it deals with high-security alerts likewise; as the KYC process and the most common two-factor authentication.
Kucoin even uses a couple of modern security solutions to increase its customer base. For supposed trading passwords and safeguard programs.
Well dear reader this is all for today’s blog post for Kucoin and the level of its fees. Please let us know if you’re quite agreeing with the given facts. Obviously, it is secure and trustworthy. If you have an experience with Kucoin please feel free to share it in the comment section below.