Kucoin is one of the most important exchanges and I would say it must not be lost from your subscription. Why? Because KuCoin is different from other exchanges. One of the most important features is the wide range of available altcoins and chains. Ascent, a leading financial services assessment agency, named Kucoin the best crypto app of 2022. The report takes into account: fees, number of tokens listed (600+ assets and 1100 trading pairs), KYC rules, customer reviews and security. As of December 2021, there are more than 10 million users (over 200 countries) and increasing transaction volume (average daily transaction volume is 3 billion US dollars). The fee for each transaction is 0.1%, which can be further reduced by 20% if the merchant holds KCS, Kucoin Exchange’s native token. Kucoin was one of the first exchanges to support Binance Smart Chain (Bep20) outside of Binance. It was one of the first exchanges to list Ampleforth, an algorithmic stablecoin.
You try to check out the large variety of chains supported for USDC:
For USDT, all of these chains support, but EOS does too! You can also withdraw BTC on Arbitrum instead of Ethereum on Arbitrum and Optimism (they are the two Layer2 running on the Ethereum blockchain. If you don't use Kucoin, you will be forced to use both Arbitrum and Optimism bridge, costing over $50 in Ethereum gas).
If you want to use the RSK network (the main layer2 on Bitcoin), the only way is to use Kucoin! You can access Bitcoin DeFi by withdrawing RSK (used as gas) on Sovryn, MoneyOnChain, Blindex, RSKswap, and BabelFish. RSK (RBTC), which tracks the price of Bitcoin, is only listed on Kucoin.
Have you heard of Valola? Valora is a Celo Network wallet that allows you to earn 25% interest on stablecoins. The two stablecoins you can use are: cEUR and cUSD. You can only find them on Kucoin!
Access to any DeFi is always through Kucoin: Waves, Kardiachain (Kai), Polkadot (Astar, Acala, Moonriver, etc.), Kadena, Huobi Heco Chain, KCC (DeFi on Kucoin!), etc. Kucoin's massive flexibility makes it so If you want to take advantage of 360° DeFi and find "hidden gems" with low market caps, head over to the underlying exchange.
How to get started
1) Login KYC: Kucoin (login)
2) You can buy Kucoin (buy cryptocurrency) by credit card (or SEPA transfer), third-party providers (Simplex, BTC Direct, Banxa) or P2P (Paypal, Revolut, CashApp, Neteller, Google Pay, etc.).
3) You can also deposit your cryptocurrency directly by searching in the corresponding bar! Make sure you deposit on the correct chain or you will lose money! If you send ETH through the erc20 chain, you need to deposit ETH to the erc20 address. When sending USDT (trc20), you must select the deposit address trc20!
4) You can trade using a classic "limit" order, buy on the "market" (remember you need to transfer your cryptocurrency from the "master" to the "trading account") or via an automated trading bot , with which you can maximize your profits (you can use the default bot or create a custom bot. You can learn more about it here: Trading Bot, Kucoin).
5) Kucoin also supports leverage (read more here: margin trading, Kucoin) and derivatives trading (futures)
6) Another interesting feature is "lending", which allows you to rent out your cryptocurrencies (basically, they are lent to other users who block securities from taking out loans. Later, those who get liquidity will have to do this to Repay the loan interest and provide a portion of the profit to the lender)
7) The exchange also has staking which allows you to earn income (deposits can be "flexible" or "fixed")
8) Spotlight (this section allows you to pre-purchase tokens before listing on other exchanges)
9) NFTs and games (here are NFTs and games, KuCoin can buy NFTs through IGO)
How to Find Hidden Jewels
I opened the article saying that Kucoin supports many chains and tokens that you can only find here. In fact, Kucoin is also known for listing little gems with lower market caps. For example, I'm interested in PolkaCity (a Metaverse token) and DeFi Yield Protocol and only found them on Kucoin!
You can use CoinMarketCap to find low market coins and check where they are listed. If these tokens are listed on major exchanges, 99% of them can only be found on Kucoin. Check it out here: New List (Kucoin). You can also find an interesting article on her blog: Thanksgiving Message from KuCoin: What Are Your Favorite KuCoin Gems? and top 5 crypto gems on KuCoin in 2021 by performance.
There are also many YouTube channels and online articles mentioning new deals on Kucoin and all 100x gems (just google and use some keywords like "hidden gems kucoin", "low market cap kucoin", etc). Of course, you always need to do some research (DYOR) before buying, but you can get an idea and analyze if a project is interesting.
How to find coins with low market cap? I always recommend that you study the project and its token economics (token + economics) first. You must be asking yourself: is this token useful in its ecosystem? What is it for? Is it worth holding for the long term? How many followers do they have on Twitter and Telegram? If you are interested in the project, check the market cap: the lower the market cap, the greater the chance of growth!
I remind you that Kucoin is also developing its DeFi called KCC. These dapps use KCS tokens as gas. Obviously these platforms are decentralized, so you have to be careful when using them as Kucoin is not responsible for any losses (even Binance is not responsible for bugs and hacks on Binance Smart Chain!).
If you want to access KCC, you need to buy KCS tokens because you need it as gas. First, download Metamask and configure KCC by entering this data in Custom Network:
- Network Name: KCC Mainnet Network
- Network URL: https://rpc-mainnet.kcc.network
- Chain ID: 321
You'll get an EVM address (similar to Ethereum addresses; these start with "0x") where you can withdraw KCS tokens (which you can use to run transactions and as gas in DeFi).
You can also use these DeFi platforms to find small hidden gems with very low market caps. For example, MojitoSwap is the most liquid Kucoin DeFi platform. Of course you can find MJT (Mojito Token) directly on Kucoin!
I remind you that none of the above tokens are intended as investment financial advice! They are just examples. You must always do research (DYOR).