The KuCoin cryptocurrency exchange has added two fantastic new trading features you need to know - OCO orders and the new KuCoin Convert function. These tools may be simple but they are even more powerful.
Let me keep you up-to-date on the latest developments and enhancements on KuCoin.
About OCO Orders
KuCoin just introduced an innovative new trading feature on its platform called OCO orders. OCO is an abbreviation for the term "One Cancels the Order". This special type of order enables you to place two separate orders, a limit order combined with a stop-limit order, at the same time. The OCO order allows only one of these two orders to be executed. As one of these orders gets executed, the other one gets canceled.
To understand the benefits of this new trading feature, you need to know what a limit order and a stop-limit order is. One of the most popular order types for trading crypto is the limit order. If you want to buy or sell a cryptocurrency at a specified price or better, you set a limit order. Compared to a market order, you pay your specified price or less. On the other hand, a stop-limit order is a combination of a stop trigger with a limit order. Stop-limit orders allow you to set the minimum profit that you are ready to realize and also the maximum amount that you are willing to lose.
An OCO order on KuCoin allows you to place two orders, a limit order and a stop-limit order, at the same time. This means you can automate your positions by placing an OCO order for both, realizing profits and losses. This makes the OCO orders very handy for volatile markets with huge price swings.
Setting up an OCO order on KuCoin is easy and only takes a few simple steps. If you want to set up an OCO order yourself, I recommend reading KuCoin's blog post "Everything you Need to Know About OCO Orders: KuCoin Tutorial"
About KuCoin Convert
The second big new trading feature on KuCoin is KuCoin Convert. As you can see on the screenshot below, you can now easily convert more than twenty different assets with KuCoin Convert. A traditional trading interface can be quite confusing. That's not the case KuCoin Convert. The interface is clean and easy to understand. Cryptocurrency conversations can be executed with a mouseclick.
The best thing about KuCoin Convert is that there are zero trading fees.
My Final Words
I hope that I could provide you with useful information about the new trading features on KuCoin, the innovative OCO order as well as KuCoin Convert.
Do you want to enjoy feeless crypto conversations or innovative OCO trades on KuCoin bit you are not registered yet? in this case, you may want to consider using my referral link with the invitation code 21vPud5 for signing up. When you use it, it will save you trading fees each time you perform a trade on KuCoin.
If you want to keep yourself up to date with the latest developments on KuCoin like new trading features then I recommend following KuCoin on their social media accounts like Twitter, Facebook, Telegram, or KuCoin's official blog here on Publish0x.
At the end of my article, I also like to remind you that my intention in this post is to raise your awareness of KuCoin's new trading features. My intention is not to replace your own research. However, this article really reflects my own opinion.
If that's the kind of stuff you like to read here on Publish0x, click that follow button. Thank you guys for reading, liking, following, and tipping 👍
You may also like: KuCoin Token $KCS In-Depth Analysis And Price Prediction