What is an OCO order in Kucoin?
It is an option available in kucoin trading in which two orders can be placed and one cancels the other at a given time and are activated when we indicate. As its name indicates OCO one cancel other
It can be used in spot, leverage and futures trading.
How do I enter the OCO order in Kucoin?
I want to sell some KCS
https://www.kucoin.com/es/trade/KCS-USDT
By selecting Oco we are ready to generate OCO orders,
This is
It is very simple and beneficial to be able to place two orders simultaneously that guarantee me to sell at the best price and set a limit in which if I could not sell at the desired price, I sell at a price that guarantees me that I will not make a loss.
You may notice that unlike the traditional limit order in which I place an order for example at 13 dollars, and the price of kcs drops drastically I run the risk that my kcs will be sold at a very low price that will result in losses, of course this is a hypothetical example with the intention to illustrate, the kcs is the token of the kucoin platform and I doubt it can fall abruptly,
In Kucoin and in general in any exchange the idea of trading is nothing more than exchanging one cryptocurrency for another either for a specific purpose and with the intention of making money with it, however in this Kucoin platform is available a function called convert that allows you to instantly and without trading convert a particular cryptocurrency to KCS which is the token of Kucoin, in an automatic way.
Personally I find it very useful, why? Usually when the cryptocurrency market is down, I change my assets to USDT which is a stable currency paired with the dollar, of course I do this with my assets that I keep in other exchanges, in the case of Kucoin what I do is use the convert function and pass at once to KCS, although it is not a stable currency, it is the token of Kucoin and in this platform gives you many benefits, such as a restatement, since by keeping kucoin I already earn profits for it, this among many other advantages.
Now, how do we enter the Convert function?
https://www.kucoin.com/es/assets/trade-account/convertKCS
All successive cryptocurrencies to be converted to KCS are already displayed, more and more are being added all the time.
Something important to mention
Due to the speed of the operation, the slippage is almost null, with no commission per transaction.
I consider it appropriate to review without going into much detail about the benefits of this prestigious cryptocurrency exchange, so much so that last year Forbes magazine ranked it as one of the leading cryptocurrency exchanges and many call it "the exchange of people", also this year it received another recognition from the company The Ascent, which evaluates financial products, awarded it as the best cryptocurrency application, it is currently in the top 5 of the best exchanges,
Kucoin was founded 5 years ago, has grown exponentially and has more than 18 countries around the world with presence in South and Central America, Arab Emirates, Europe, India and Asian countries, supports more than 51 fiat currencies, you can find more than 600 cryptocurrencies and operate with more than 1170 pairs, high volume of capital which gives it great liquidity, maintains commissions to operate among the lowest in the market.
In its platform you have everything that both expert and novice users can do among other things; trading with the necessary tools, lending, staking, configuring boots, finding new promising cryptocurrencies and buying in pre-sale,
Let's take a look at some of its functionalities:
Find a cryptocurrency for tranding
https://www.kucoin.com/es/trade/BTC-USDT?spm=kcWeb.B5markets.tradeList.1
- Stakeout, hold a cryptocurrency for a time that could be 30 to 90 days and earn money for it, those blocked amounts are used to pay commissions to miners for validating transactions and also create new cryptocurrencies.
- Lending cryptocurrencies, another way to earn money on this platform is by lending cryptocurrencies to other users. Instead of keeping a cryptocurrency, place them in loans, at the end I have the cryptocurrency and earn commission for the loan.
- Use bot for automatic trading, it is an option to configure bot and save you a lot of time and effort when trading.
- One option I highly recommend is to hold a Kucoin token, KCS,
Kucoin gives bonuses for simply holding your KCS token,
Buy cryptocurrencies from other users using P2P, person to person without intermediaries.
Another reason for selecting this important exchange is how easy it is to buy cryptocurrencies using fiat currencies as a means of payment.
In short, all the above reasons serve as a basis for recommending Kucoin.
They call it the people's exchange for a reason.
Of course, to operate with Kucoin you must have a registered account, if you don't have one yet here is my referral link so you can register very easily.
https://www.kucoin.com/ucenter/signup?rcode=rP88H5T
Kucoin gives you benefits ranging from discounts on commissions to direct bonuses when you sign up with the referral system,
