KuCoin Guide – For Australians

What is KuCoin?

KuCoin is  a cryptocurrency to cryptocurrency exchange (like Binance) that currently ranks as one of the top 10 cryptocurrency exchanges in the world by trading volume.

It is unique in the sense that it pays out 90% of its revenue to token-holders (or users who purchase KuCoin Shares – its self issued token)

How Do I Signup to KuCoin?

The signup process is relatively simple.

Step 1. Navigate to the KuCoin website and Click on the “Signup Button”

To signup to KuCoin, click on the following link.

In the upper right hand corner click on “Sign-Up” button (see the screenshot below).

Step 2. Fill in your email and password, then click next

Enter your email and password.

Once all your details are filled out click the “Next” button.

 

Step 3. An “Email Activation” email will be sent to your email entered above

You will then be sent to an “email activation” screen which notifies that an activation email has been sent to your email above.

Step 4. Login into your email and click on the “Activation Email” Link

Log into your registered email and click on the “activation email link”.

This should send you to the following page on the KuCoin site:

Step 5. Setup your Google 2-Step Authentication

In order to buy/sell cryptocurrencies you will have to set up a Google 2-Step Authenticator on your mobile.

To do this click on the “Google 2-Step” option on the left hand side tab.

Install the the “Google Authenticator” app from the Appstore or Google Play.

Open up the Google Authenticator app on your mobile and scan the QR Code in Step 2. This should provide you with an authenticator code on your email. Enter this into step 3 and click submit.

Once this has been successfully confirmed, you will be redirected to the screen below:

How Does the Trading Process Work?

As mentioned KuCoin is a cryptocurrency to cryptocurrency exchange. This means you must have cryptocurrency to trade.

Fee Structure

It is quite inexpensive to trade with the fee structure as follows:

  • Deposits: Free
  • Trading Fees: 0.1%

In the following steps I will outline the steps to purchase bitcoin from CoinJar  as well as the deposit and trading process on KuCoin.

Step 1. Purchase Cryptocurrency from an Exchange

You can use CoinJar to purchase some bitcoin. You can also follow this CoinJar Guide: https://tradecryptoaustralia.com/coinjar-guide-australians/.

Step 2. Transfer Your CryptoCurrency to KuCoin

Login to KuCoin and click on Assets.

Click on Deposit next to the cryptocurrency you want to transfer (in this case bitcoin).

Once you click deposit, this should reveal a “bitcoin address”, this is the address that you will be entering into CoinJar to conduct a transfer.

Use CoinJar and select “Everyday Bitcoin Account”.

Fill in the Kucoin Bitcoin Deposit Address as identified above.

Fill in “Bitcoin Amount” to be transferred.

Select “Review and Confirm” once complete.

Step 3. Use Your CryptoCurrency and Convert it to another CryptoCurrency

Login to KuCoin.

Select Markets.

Identify the cryptocurrency you would like to purchase and click “Buy”.

You will then be asked to enter in the “price” in the base cryptocurrency (in this case BTC) and the “amount” which is the quantity that you would like to purchase.

Once you are happy, click “buy”.

Extra: What is KuCoin Shares?

KuCoin has issued it’s own token called the KuCoin Shares (Symbol: KCS).

There is a total supply of 181 million with a current circulating supply of 91 million. It is currently one of the top 50 cryptocurrencies by market capitalisation.

Advantages of KuCoin Shares

One of the main advantages is that using KuCoin Shares, giving you a discount of 1% off for every 1000 KuCoin Shares you own.

Value appreciation of this coin is also ensured as KuCoin uses 10% of its profits every quarter to buyback and remove coins from circulation, with the aim to ensure that only 100 million coins remain in circulation (from 181 million). This is similar to Binance.

P.S. If you would like to sign-up to KuCoin click here. If you would like to sign-up to similar cryptocurrency to cryptocurrency exchange, you can sign up to Binance. Click Here for a guide to the sign-up process.

P.P.S We also recommend storing your cryptocurrency on cold storage wallet like the Nano Ledger S (click here) or Trezor (click hereor KeepKey (click here).

P.P.P.S If you would like to get an EDGE ON YOUR CRYPTO TRADES, we recommend you use a charting tool like Trading View (click here to sign up for FREE)

Note, TradingView is free to use but also has paid upgrades that provide extra benefits like automated SMS and email alerts.

P.P.P.P.S You can also get access to PREMIUM TRADING SIGNALS in one EASY TO USE PACKAGE (to be used with TradingView) from the following site:  https://www.cryptotradesignals.org/

(Bonus) Tired of trading? Prefer to HODL? Click Here to check the out our post on the how to earn passive income from with masternodes. We also provide recommendations for the Top 4 cryptocurrencies that earn returns of between 6%-93% per annum.

 

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