KuCoin is an international exchange company founded in 2017, offering vast and many crypto investment options that obviously includes trading. One of the biggest selling points of KuCoin is its amazing low charges on trading, and in fact the main factor behind the company’s quick rise in fame is its significant low fees when compared with other cryptocurrency exchanges.
Getting to know KuCoin’s Trading Fees
Trading fees starts for as low as 0.1% per transaction, and you can as well receive a 20% discount if you pay fees with KCS coin (Kucoin’s token), hence, getting your trade fee to be reduced to only 0.08% per trade. Traders can also expect to pay between 0.0125% and 0.10% per trade.
Furthermore, spot trading is the most common feature on the KuCoin platform, with no charges on secondary fees for takers or makers, but will instead charge a flat fee at a set cost of 0.1% for each trading transaction.
Crypto Trading Fees
The 0.1% spot trading fee remains the only crypto trading fee that could bother traders, though margin trading fee shares the same percentage, but future trades come with a perpetual futures funding rate, which ranges from 0.03% and 0% depending on the market.
More so, KuCoin charges the maximum of 7% in most cases for traders who want to buy crypto via fiat currencies, offering them diverse options which include the P2P, Fast Buy Feature, amidst other vast similar services. Hence, the fees for these transactions will vary significantly, all depending on the form of fiat payment used.
Also expect that fees for a specific altcoin will regularly change as it depends on the overall network usage. Baxa charges fees in the range of 4% to 6%, while Simplex is likely to charge a 3.5% fee.
Transactions carried out on KuCoins P2P marketplace will end up in different fee charges depending on the coin processor rates, as well as the specific payment method. For this reason, traders who could become P2P users should make proper consideration when buying or selling digital assets on KuCoin.
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What does KuCoin’s Trading Experience looked like?
KuCoin has its users been enabled to access their accounts via mobile apps (made available on both iOS and Android) or online portal. Once logged in as a user, you can click to trade, view markets, lend crypto, among other features.
P2P trading, Margin and Futures are available on KuCoin; with the KuCoin’s platform also supporting four order types, which includes; market, limit, stop-limit, and stop-market.
KuCoin also supports staking and recently introduced a Trading Bot feature to help simplify users trading process. Though there are concerns about KuCoin’s mobile and desktop platforms not been intuitive or user-friendly but hopes were raised about the site providing help center where users can get fixed responses to their common issues.
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Bottom Line
It’s good to know that KuCoin’s fees are very low when compared to other exchanges, and it’s also good to know that deposits are free on this exchange, which though charges withdrawal fees which vary by asset, and subjected to change depending on market performance.
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