The act of trading that literally involves the use of cryptocurrency is seriously turning into a popular and generally acceptable act in and around the world and also of course in the UK.
Kucoin represents one of the notable cryptocurrency exchanges we have around; having earned it’s significant pull and attraction in the world space among crypto traders, including those in the UK.
As incessant engagement and interest in KuCoin services continually grow in the UK, citizens still continue to raise eyesbrows over it’s legalization and safety within the country
As you continue to read this article, you’ll be receiving eye-opening insights on Kucoin’s availability (that entails it’s legality, regulations, and practicalities) in the UK, coupled with other vital and related information.
Is Kucoin available in UK?
Kucoin is readily available for residents in the UK without any form of restriction. You can be a Kucoin exchange user by creating account, depositing funds, and trading various cryptocurrencies as deemed fit without any geographical limitation.
Regulations in the UK are being formed by Financial Conduct Authority (FCA) alongside other governing bodies. Hence, the engagement with services provided by cryptocurrency exchanges will completely remain legal in as much as the regulations guiding the use of cryptocurrency are being followed.
Most notably, Kucoin exchange also operates in the UK within the conference of the law as regulated by the Financial Conduct Authority (FCA) and other governing bodies.
Using KuCoin in the United Kingdom
1. Account Creation and Verification
Account creation can be done via Kucoin’s mobile application or website prior to the use of Kucoin in the UK.
The process of creating your account and registering it on Kucoin is a very simple one, with usual information like your name, email address, and of course a secure password needed for the account creation.
Moreso, Kucoin opines a process of verification which entails a Know Your Customer (KYC) procedure which comes in agreement with counter-terrorism financing (CTF) and anti-money laundering (AML) regulations.
The verification process also entails the submission of documents like a proof of address and a valid identity card issued by government.
2. Depositing and Withdrawing Funds
After the successful processing of account creation and verification on Kucoin, you can deposit funds into your KuCoin wallet. Kucoin’s exchange supports several methods of payment which include credit/debit cards, bank transfers, and of course cryptocurrencies.
In this view, you can deposit cryptocurrency directly into your KuCoin wallet by sending them from an external wallet or another exchange. Most importantly, you can deposit fiat currency such as the British Pounds via the usage of Simplex or Banxa, among others which act as a processor for third-party payments.
On the other hand, you can also make withdrawals on Kucoin following the same route. Cryptocurrencies can be withdrawn to external wallets or converted to fiat currency, with withdrawal made into your UK bank account using the supported payment methods.
3. Trading on KuCoin
This exchange ensures the listing of multiple cryptocurrency pairs, which enables traders to engage with a broad array of digital assets either to buy or sell. Trading on Kucoin enables numerous order types such as stop-loss, market, and limit orders which is achieved via a user-friendly trading interface.
Moreso, this exchange offers traders with the opportunity to get engaged with advanced trading tools like lending platform, margin trading, and futures trading; all of these which is targeted in satisfying the needs of experienced traders.
However, you must know and be fully aware that there are risks involved in the usage of these advanced trading features, hence it’s vital to exercise serious caution.
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Conclusion
Note that the regulatory landscape accustomed to cryptocurrencies will constantly evolve, thereby making exchanges like KuCoin to strategically adapt to any new guidelines or requirements introduced by the FCA or other relevant authorities in the UK.