Any digital or virtual currency that uses cryptography to protect transactions is considered crypto. Cryptographic forms of money generally don’t have a focal giving or directing power, rather utilizing a decentralized framework to record exchanges and issue new units. Despite numerous concerns, cryptocurrency’s future remains bright. Naturally, we all wish to participate in this exciting economy. You can begin this process by investing in the cryptocurrency of your choices, such as XLM price or ALGO coin.
This can be accomplished by using exchanges like KuCoin. In this article, we’ll talk about KuCoin, its features, and how to get started using this new crypto exchange. All four of the world’s cryptocurrency holdings are now served by KuCoin, a well-known cryptocurrency exchange. The fiat onramp, futures and margin trading exchange, passive income services like staking and lending, peer-to-peer (P2P) marketplace, IEO launch pad for crypto crowd funding, non-custodial trading, and much more are among the impressive suite of crypto services it has developed.
KuCoin: What is it?
KuCoin is an international cryptocurrency exchange platform founded in 2017 and primarily serves investors or traders. One of the most comprehensive lists of cryptocurrencies hosted on any exchange site, the platform allows users to trade approximately 400 cryptocurrencies. The best part is that it has some of the lowest base fees of the leading crypto market exchanges, making it even more popular.
How to Buy Cryptocurrencies on KuCoin
Buying your first cryptocurrency is all it takes to trade hundreds of cryptocurrencies.Fortunately, KuCoin is made to be easy to use, whether you use the desktop version or the app. enter your phone number or email address to register. However, you will only have access to a limited number of features from this. You will basically need to go through a registration and verification process if you want to use all of KuCoin’s features and benefits.
The following sections will teach you how to buy cryptocurrency on KuCoin.
1. Create a KuCoin Account
Before doing anything else, you must have a KuCoin account. You can accomplish this by going to KuCoin’s website and following the steps below.
- On KuCoin’s landing page, please search for the Sign up Now button and snap it.
- Select whether you want to register by phone or email.
- You will need to enter your phone number to select the Phone option. KuCoin will send a code. Set a password and enter the code in the field.
2. Secure Your KuCoin Account
KuCoin protects your account on the platform with two-factor authentication, also known as 2FA. A type of multi-factor authentication known as “2FA” adds additional layer of protection to your account. The term “two-factor” refers to the requirement that you provide at least one additional piece of information in addition to your login details to enable it.
Although 2FA is not enabled by default on the KuCoin platform, it is required to proceed with account creation.
3. Verify your identity
Know Your Customer (KYC) verification procedures are intended to link your account’s security to that of your personal information. You can technically use KuCoin without proving your identity, but you can only withdraw a certain amount until you go through the verification process.
Therefore, you will need to complete the KYC to utilize KuCoin fully. Follow the steps below are basically required to achieve this.
- You must verify your email address before setting up your 2FA and security questions. Look for the KuCoin message when you log in to your email account. Use the link in the attachment or the Confirm button.
- The requirements for your KYC verification will be displayed in the subsequent window. Click Continue to continue.
- Complete all of the required fields. Additionally, you must submit a copy of your current ID.
- KuCoin will examine your data. You should receive a confirmation shortly if everything goes according to plan.
4. Connect Your KuCoin Account to Funds
Now that your account has been verified, you can start trading. Select Assets from the platform’s button menu.
- Type the asset you want to deposit into the search bar or select it.
- Before you confirm your deposit, KuCoin will present you with a screen containing instructions. Check your wallet’s address once more first.
- Complete your purchase.
5. Start Trading on KuCoin
As soon as your account receives the transferred assets, which shouldn’t take long, you can begin trading to earn money.