How To Trade Cryptocurrency On KuCoin | KuCoin Tutorial 2022

How To Trade Cryptocurrency On KuCoin | KuCoin Tutorial 2022Show more

In this video, you will learn how to use KuCoin cryptocurrency exchange platform to trade crypto.

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Full KuCoin review
This cryptocurrency exchange is a good fit for: Experienced non-U.S. cryptocurrency traders who want access to more coins and advanced features.

Pros
Low fees
Strong user base
Wide range of coins
Earn interest on your crypto
Advanced trading features
Good customer service
Cons
Not licensed in the U.S.
Limited payment methods
Not for new traders
Limited educational resources
Alternatives to consider
If you want a secure exchange with no withdrawal fees: Gemini stands out for its strong security features and dedication to regulation. Best of all, you can make 10 fee-free crypto withdrawals each month, and you won't pay to deposit money via a wire transfer.

If you want a wide range of currencies from a licensed exchange: U.S. regulations mean that residents don't have access to as many cryptocurrencies. However, Coinbase has a good selection, which makes it one of the most popular U.S. exchanges.
Top perks
KuCoin has a lot to offer investors, including the following.

Low fees
KuCoin's trading fees are among the lowest we know of. You don't pay any monthly account fees, and the withdrawal fees are in line with other exchanges. It is free to deposit crypto, but you will pay to deposit fiat (traditional) money like U.S. dollars. The fee depends on how you transfer cash and what third party app you use.

Strong user base
KuCoin claims 1 in 4 crypto holders worldwide use its service. The big advantage to such a strong customer base is that it adds liquidity to the market -- you're more likely to be able to make the trades you want because there are more people trading. It also means you can likely join an active community of traders who speak your language.

Wide range of coins
KuCoin has a much broader selection of cryptocurrencies than you'll get at many exchanges or brokerages. If you want to branch out into less popular coins, KuCoin is worth a look. It also has a Spotlight section that promotes new currencies so people can get in early. Just be aware that new or lesser-known coins carry more risk than mainstream ones.

Earn interest on your crypto
The KuCoin Earn service pays interest on your cryptocurrencies in two ways: You can stake coins through Pool-X, a KuCoin-backed company, or you can loan out your crypto and get paid the interest.

Staking is a bit like earning stock dividends -- certain cryptocurrencies use staked coins to help validate the network and keep it secure. You earn rewards if you agree to tie up your coins for a set amount of time.

The interest you'll earn by loaning out your crypto is more than you'd get with a traditional savings account, though it varies by coin and demand. KuCoin says you can earn 8% to 12% on average. This money finances KuCoin's margin trading. The company says lenders will always be repaid in full, either from the borrower's collateral or from a KuCoin margin insurance fund. That said, you won't have the same protections you'll get with a normal bank, so make sure you're comfortable with the additional risk.

Advanced features
KuCoin has a lot of extra features, though you'll need to think carefully about whether you want to use them. For example, margin trading allows you to leverage your position, which is essentially borrowing money to buy more crypto. Only very experienced traders should use leverage because it makes cryptocurrency -- an already risky investment -- even riskier.

KuCoin also allows you to use trading bots through its mobile app. Trading bots can automatically buy and sell your cryptocurrencies so you don't have to be online all the time to follow the market. However, crypto bots are not as developed as robo-advisors. Some have technical glitches, for example. Plus, it's not always clear how they're investing your money, and you need to understand the cryptocurrency trading strategies they use. If you're buying for the long term, bots don't add a lot to the mix.