For a beginner new to the crypto space, everything can seem too much without the proper guidance. You would have heard various conversations about Bitcoin and Ethereum. Then, suddenly you hear about Altcoins and begin to wonder what those are. Or you become lost in the world of smart contracts, such that when you are still trying to learn about smart contracts, you begin to see DAO and NFTs.
Without proper guidance, a beginner in the crypto space will feel completely lost in a world of digital assets. This is because as he or she is trying to understand one concept, another one is already rising, as the crypto space is ever-evolving. So, the crypto beginner needs proper guidance and information and also needs a platform that makes navigation easy for a newcomer.
Therefore, this article will assess if the KuCoin exchange is a good fit for beginners. Beginners need assistance when buying and selling crypto so as not to gamble away their money without the proper information. They need a user-friendly platform that they can navigate without much assistance. Thus, by the end of this discourse, we would have a broad knowledge of the suitability of KuCoin for new crypto traders.
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What is KuCoin Exchange?
KuCoin is a cryptocurrency exchange ranked among the top exchanges globally. It is a platform that facilitates the purchase, sale, ownership, and dealing of cryptocurrencies. It provides a means for users to purchase crypto using fiat, bank transfer, or debit card. It provides a platform where users can exchange one cryptocurrency for another.
KuCoin is a leading exchange serving over 6 million people across several continents. It gives its users access to over 400 coins and tokens, lending, and staking opportunities as well. It is famous for listing lesser-known with greater margin for growth due to their small market or circulating cap. It is a gold mine for tokens that do over 20x, 50x, and 100x in growth.
KuCoin also has its native coin, KCS which serves as the utility token of the crypto platform, used in transactions and other functions on the exchange. Generally, there is a belief that KuCoin is especially good for beginners. We will assess the truth behind this belief right now.
Is KuCoin Suitable for Crypto Beginners?
One way to identify if KuCoin is suitable for beginners is by identifying the features that help a beginner in their crypto journey. Then, check if KuCoin possesses any of these features. But let us analyze it by assessing the features of KuCoin and how it benefits a crypto beginner. Then, we will know if KuCoin is beginner-friendly.
So, here are some attributes of the KuCoin exchange. They include;
Web and App Platform
The first thing to note about KuCoin exchange is that, unlike some other crypto exchanges, it has both an application and a functional website. You can download the KuCoin Exchange app on Playstore or App store, or you can simply search www.kucoin.com in your web browser to access the platform.
Having a web platform is great for beginners who may not know how to navigate a Blockchain-based crypto app, as the UI is often different from other apps they are used to. But the website is similar to other websites they have used. Also, for easy accessibility, a beginner can log in to the website and monitor trades or create trades or any other transaction. This is a vital beginner-friendly feature of the KuCoin exchange.
Simple User Interface
Furthermore, KuCoin has a very simple user interface that is easy to navigate. Beginners often want to have everything readily available at a click in a simple way they can understand. KuCoin does just this. For instance, once you load the web page. There is the login/sign up option visibly. So, for beginners who do not have an account, it is easy to get the option to register an account.
Also, the process of registering an account on KuCoin is straightforward, which suits the needs of crypto beginners. An email address or phone number is enough to help you register an account with KuCoin, and you do not need KYC verification immediately.
Live Support Centre
Beginners often have lots of questions when using an exchange for the first time. Remember all the times you used a webpage and needed assistance to get what you wanted. Well, KuCoin live support center is responsive and provides users with necessary information about cryptocurrency and even addresses the specific needs of beginners.
Thus, beginners can greatly benefit from this feature on the KuCoin platform.
Low Transaction Fees and Trading Discounts
Checking the KuCoin website right now, it says that users can get up to a 500 USDT sign-up bonus for registering an account on the platform. So, KuCoin provides users with the needed capital to begin their crypto journey without massive loss. This is vital as it helps beginners maximize their planned capital.
Apart from signup bonuses, KuCoin also offers users discounts on trading fees when holding KCS or making payments with KCS. So, beginners with KCS get to enjoy reduced transaction costs.
Extra Security
In cryptocurrency, security is paramount, especially for beginners who are vulnerable to many scams online. Thus, the extra security that KuCoin offers with the use of a ‘trading password’ helps to secure the funds of crypto beginners from unpermitted access.
This secures users’ funds, which can then be used to make profits in the market.
A Good Community
Information is crucial in cryptocurrency. Having the right information can save you thousands of dollars in seconds, and not having the right information can leave you ignorant and susceptible to volatile market forces. Therefore, having a vibrant, informative crypto community is essential for the growth of a beginner. He or she can learn from experts in the industry while networking with other users invested in the same project and gain more insight into the project.
KuCoin offers a vibrant community that helps to build beginners. A community that provides valuable information, passive income, daily perks and rewards, and lasting networks.
Conclusion
Now that we have assessed some of the major features of KuCoin. You will agree that the KuCoin platform takes into consideration the needs of beginners and duly caters for them. However, there are still some issues, such as the use of trading bots which might be too complicated for a beginner. But many features ensure that a crypto beginner gets almost a seamless experience on the crypto exchange.
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