Welcome back to Cryptostec in today's video
we're going to be reviewing Kucoin which is a cryptocurrency exchange that has launched
in 2017 where you have the ability to trade earn and obviously to buy cryptocurrency now
this video is perfect for those that has never used Kucoin and obviously are thinking about using
this exchange we're gonna dive in further in this specific video we're gonna look at their their
interface the different products the simplicity and the different benefits of using Kucoin so stay
tuned and let's dive in so usually you'll see a nice banner some information about different
competition or tournament as you can see here there's always different incentives
they'll give to their users to obviously people that are into trading or people that
have a specific coin will be able to obviously to participate obviously based on your trading
volume and then you have a nice short snap of basically the top trading coins new coins and
top gainers for example and then you obviously hear some more generic information about the platform
this exchange so basically they have more than 500 coins available on this exchange have been trading
over 600 billion dollars which is a lot.
They have over 10 million a user on a platform and they are
big so you obviously are able to trade on multiple devices if you have an iphone if you have an
android for example this is extremely cool and this is something that is super important so
if you're a newcomer and you're looking to trade the first thing you should look at is how many
users are using this platform how many years have they been around and if there enough liquidity
so i can tell you right now we just confirmed this.
So now let's dive in into the interface if
you guys are new to the cryptocurrency and you don't have any cryptocurrency and you want to buy
cryptocurrency you actually have two ways to do it option number one you can obviously use your
credit card or debit card so basically swiping typing your numbers and obviously
deciding how much money you want to use from your cards and basically you're gonna be charged on
a credit card and then in exchange you will get your cryptocurrency you might be looking
to buy some bitcoin or some ethereum or any other altcoins that's option number one option number two
is actually the ability to do a wire transfer so you obviously if your based in europe you have
the ability to do a SEPA so basically it's a local way for european people to send money which
usually the money will arrive within few hours so if you send money in the morning the money will
be there by the afternoon so it's kind of fast or if you don't live in europe you're obviously
looking to do a wire transfer you obviously have the option to do wire transfer and as well
international one that can that will be also possible.
Now for the third party if usually
they wanted one to pay only in their own currency so let's say your base in south africa
let's say you're going to pay only in swedish crown usually the third party will give you
that option now saying that you might be paying in your own native currency but you'll be
also exposed to some additional fees so the thumb of rule is to always if you can just do
wire transfers just to avoid those fees and then maybe look at comparing which option is simple
or is cheaper is it third party or fast trade. Now once you actually acquire the cryptocurrency
you actually want to acquire you obviously have the ability to obviously buy more or to
exchange or even trade so if you're looking to basically exchange so obviously you click here
on Spot and you can obviously exchange your cryptocurrency let's say you bought bitcoin and
right now bitcoin is going down it's like $37864 for
example and you think bitcoin can go further down you can obviously convert it to USDT and obviously
buy at a lower price if that's your strategy now if you don't have let's say bitcoin you have
any other coin you can obviously convert it to let's say bitcoin to Ethereum or anything else all
right so obviously here you can see it's actually classified kind of nicely so you have the ability
to trade on anything related to usd so basically any stablecoin if you have bitcoin if you have
Kucoin shares ,this is like their own token, altcoins DeFi, NFT and metaverse and almost anything related
to Polkadot so that can really help you to save you some time and make your trading
experience much better now if you're into trading and obviously taking those
risks so basically you like to leverage your position obviously to maximize any
market volatility then you should definitely look at the futures now the futures we obviously can see
here you have bitcoin perpetual / USDT so let's just go over here and just show you what you
need to look at when you're looking to trade on futures so initially again this account
has no balance i just created this account just to illustrate how this exchange work so
you obviously have the option to change the leverage according to your risk appetite please
bear in mind that the higher the leverage is the more risky it will become so obviously they
even put a nice note to tell you what will happen if the market were to move by 1.3 percent
you're literally going to lose everything so that's nice of them so obviously if it's
goes around 100 basically in literally if market movement one percent you obviously will lose
everything so please please bear that in mind okay now this is when it comes to trading with
futures for example and another thing you need to consider obviously is the following: so you have here something
called funding rate funding rate is a recurring fee that exchanges charge you for holding your
trade position for longer than a specific time so some places charge every one hour some places
charge every four hours now if i'm not mistaken Kucoin charge for every four hours there is a
funding rate which changes based on the consensus so if for example the majority of the traders are
literally all buying so basically are going along you're going to see a positive funding rate if the
funding rate is negative as you can see right now basically it means that the majority
of the user on exchange are shorting bitcoin which mean if you decide to short bitcoin
you're gonna be paying this amount of fee for every round of cycle now.
If for example you
decide to go against the current consensus or against the majority you actually will be getting
instead of paying fee you'll be getting the fee so this is actually kind of cool and again
obviously do not base your trading strategy based on that and always tell people you should
use as little or as low leverage as possible because the market can be crazy sometimes there's
a lot of something called Flash Crash where the market or the instrument might go
down by 10 in just one second so please please please be careful when you're actually looking at
trading with leverage unique feature that Kucoin exchange have is the Trading Bot now
according to today so far there is over 6.3 million different bots that have been created on
Kucoin basically different people that maybe have some experience and some people do not have
some experience came here and created a bot or automated strategy that will basically
continue trading as long as the strategy and the perimeter are met basically
instead of you trying to allocate five minutes to one hour two hours of your time as
long that the market condition are met and it's along with your strategy your trade be
executed which is amazing now you obviously have different type of strategies some of them are more
for spot trading so basically without any leverage you obviously have some related to futures so
obviously that will be leverage and obviously you have some people are for more like casual so let say
you own multiple different altcoins on your wallet and obviously you see
there's a different shift in the market but you haven't realized that for example solana has
been gaining quite a lot compared to bitcoin and ethereum so this is basically a possible a way
of looking at smart rebalance you obviously have the DCA so make profit from regular investment
so basically constantly buying cryptocurrency this stand for dollar cost average then you
have something called infinity grid so basically bullish volatility killer basically whenever
there is a crazy bull market this in theory supposed to take the most advantage of the
market sentiment and market volatility now on your right you are going to be able to see the top
gainer for that specific day and obviously you're gonna be able to see it for for that specific
pair so the number one gainer for today it's a a guy with * 6100 and he made
16 235% on this pair called Onston/USDT then you have the other number two and number three
they made 12 000% gain on ACT/BTC you know what just for a second let's try to understand
what happened over the last 24 hours or the last week with those two pairs.
Let's look for ACT so let's try to understand what happened with ACT so let's go here so let's search ACT so i'm very curious person actually want to
see if there was any particular sharp movement was this coIn recently added to the
exchange just to understand how come those bots were able to generate such
crazy gains okay so just bear with me okay all right so you can see that on the
12th of February there was a crazy rally okay so i think that was at least
10x or so maybe i'm not so sure so the price here was let's see eleven
zero point eleven eleven fifty eight so from what i can see here there was like
a three x or four x a big spike so that will explain the reason why whoever has been
training on this specific pair was able to trade and make this crazy return i'm
also suspecting they obviously use some leverage so now let's look at another pair
let's look at the other one they memorize them all right so from what i can see this is
a new coin that got listed you'll see have a note saying it is new so let's see
how much this coin has risen when it got listed okay so as you can see here
this coin had a over 90% drop so from what i can see at the peak it was at 50 55 cents and now
it's at 0.06 so this is more than 90% drop i think even 97 98 percent drop so i'm guessing
maybe the person has shorted it maybe they have bought here and obviously exited regardless
this person was able to take advantage with their bot of this market volatility and made
those gain so i am more comfortable enormously finding someone that has a good track record and
obviously just for the sake of it allocate a small amount of money so obviously you have multiple
bots that are available for you guys so basically you have the followings you have bots you can
select and obviously if you have anything that is live it will appear here on the running
and also you can see your profit so this is their bot which is kind of cool kind of
amazing in a certain way it's kind of crazy you can actually see those crazy gains and again i
think those gains are possible on coins that got recently listed because it's gonna be some crazy
volatility so this is kind of amazing so this is something that will definitely be one of the
reason why i will consider registering and opening an account with you can obviously
create your own bot or you can obviously follow on an existing bot all right so
let's go back now to the main page so now we cover how you're able to buy cryptocurrency and
how you're obviously able to trade cryptocurrency all right you can obviously click
here so you obviously have multiple options you have also something called futures
classic, futures lite, futures brawls and basically leveraged tokens so i want to explain to you about
what leveraged tokens is basically instead of you deciding to go and select a leverage
you actually have this mechanism where the token that you're trading let's say
you want to trade on let's see here so for example here you have Solana for
example which is long let's say you are extremely bullish on Solana and obviously instead of
you opening manually a trade on Solana with leverage x3 you obviously have the option to just
basically trade on a token it already has a system it's already leveraged so if the market were to
move by 10 you obviously will gain in this case you'll be earning 30% because it's multiplied three
times the move all right so bear that in mind all right this is kinda cool obviously have
multiple coin that have this system and again i don't necessarily recommend this but if this is
something that you guys might find it much more easier you obviously have this option all right
so obviously you have something called also margin trading so margin trading, the way I
will describe it is you are using your current balance in order to borrow more but usually
you're borrowing in that currency that you have so whenever you're using leverage usually will
have usdt in your account or in some cases bitcoin and it's literally always the amount is
in usdt but whenever you're doing margin trading you can obviously borrow also the actual
coins obviously it's a bit more tricky but some people do like to trade with margin margin trading
the leverage is restricted i think the highest i've seen is leverage 10 so that's
something for you guys to consider now that i cover everything related to
trading i obviously want to show you something else so there's obviously the notion of earning
cryptocurrency so obviously you have the ability to lend so if you decide to lend a cryptocurrency
you can obviously earn some cryptocurrency and obviously you can obviously earn by just going
to Kucoin earn so let's just go to Kucoin earn all right so basically you have different packages
of different product where you can obviously allocate your your available
cryptocurrency to one of those products and you'll get the following interest rate so if you
notice most of those interest rates are for a short period of time in some cases seven days some
cases two days some cases is three days so you can obviously filter it by based on the highest
interest rate unless you can look for the shortest period of time i think it's nice i
am i'm not sure staking my usdt for seven days when you literally have 6.8 percent interest
per year is not really interesting in my opinion and obviously if I decide to stake also stake
it for long term i would like to know what is the return in a month for example so i like
to see maybe in a month one percent if possible compared to having 6.8 percent and
which is the rate or always calculate based on a year so just please remember that even
though it said the redemption period is for seven days three days the return is actually
four a year so if if the return is per year though divided by the time you have allocated
to that specific earn token all right.
So we cover for you guys the ability for you guys to buy cryptocurrency exchange it and trade cryptocurrency either if
it's on spot margin trading or futures for example and if you are more in a passive person and you
are holding a substantial amount of cryptocurrency you can obviously allocate your cryptocurrency
and obviously earn some cryptocurrency now i'm not a big fan of their Kucoin earnings
scheme because i don't like the fact that it's for a shorter period of time so that
me personally some people would like to just let's say you always trade for the past
five months and now you go on vacation you don't want to just have your money's there
you like to earn some interest on it and again even if you have one hundred thousand dollars
and if i look at the rate there you're getting it's not gonna make a substantial difference but
again you never know so these are your basically the review of Kucoin very simple you
have the account, you have the setting, basically trading fees, account security, KYC
verification now i just want to obviously highlight the KYC verification so just for you to
understand in order for you to trade and basically have no restriction you also need to do kyc so
kyc you need to upload your proof of identity so if you are individual basically like me and you
and you're doing it under your private name so you'll fall under this category you can withdraw up to
one bitcoin you can trade with leverage up to 100 you can have a daily trading limit to basically
convert fiat to crypto it's one thousand four hundred dollars all right now if
you're an institutional or you have a company for example you can also
withdraw up to 500 bitcoin you have the same leverage and you can obviously
have a daily daily trading limit of 70 000 usdt alright so this is it so i hope this video
was helpful you guys until next time bye
