Steemit Crypto Academy S5 - Homework Post for Task 7: Dex, Cex, Popular Exchanges and Trading Cryptos by @kingmyke

Hello Everyone,
This is my post for the assignment by Professor @imagen

Choose any of the following exchanges and develop a basic guide on how to use it, indicating whether it is decentralised or centralised.

Huobi

KuCoin

Waves Dex

Following the Professor's instruction, the exchange I would like to discuss today is the Kucoin exchange.
I hope you find this post both insightful and informative as you read.
Thank you and enjoy.

INTRODUCTION: THE KuCOIN EXCHANGE

source

The KuCoin exchange is a third party exchange (meaning they are serve as sort of middlemen that connect buyers and sellers of cryptocurrencies like other exchanges such as Binance) that offer services for people to buy, sell and trade cryptocurrencies.

It goes by the nickname "The People's Exchange" and has its headquarter in Singapore. It was launched on September 15, 2017 and founded by Michael Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhu, and Linda Lin. Some of these people who helped found and launch KuCoin were also involved in revolutionizing technology developments such as Ant Financial (the Alibaba financial juggernaut) and iBox PAY. This shows that they have strong experience in the space of technology and finance.

KuCoin's objective when it was created by its founders is to create an exchange where people could could imply and safely trade their cryptocurrencies and it is obvious that they have been able to achieve this goal. They also desired that KuCoin becomes amongst the top 10 exchanges in the world.

Based on the below screenshot gotten from https://www.coingecko.com/en/exchanges, we can see that KuCoin is amongst the top 10 cryptocurrency exchanges.

KuCoin, like some exchanges, has its own token called KuCoin Shares (KCS) and those who hold this tokens and trade on KuCoin usually get discounted trading fees. Also, as a benefit of being a holder of its tokens, KuCoin gives all holders 50% of its trading profits for the year. How amazing!

KuCoin offers a lot of benefits such as very low fees. For example, you pay 0.1% of the amount of a cryptocurrency that you are buying. This means that if you are buying $1000 worth of Tron on KuCoin, you pay $1 as transaction fee. This makes it one of the best exchanges for trading your cryptocurrency.

In the next section, we will be going through a guide on how to navigate the KuCoin platform to perform different transactions to suit our needs.

STEPS ON HOW TO GET STARTED ON KUCOIN

Step 1:
Go to https://www.kucoin.com/

Step 2:

Click on "sign up"

Step 3:
You'll be directed to a page such as the one seen in the screenshot seen below where you will have to fill in all your details as required. Input your details such as your verification code, phone number and a strong password.

Step 4:

After you're done, click on "sign up" and welcome to KuCoin!

In order to enjoy a wonderful experience with KuCoin exchange, it is best to also have a mobile app of KuCoin on your phone. That way you can make transactions from wherever you are with ease and not need to carry your laptop or tablets around just to perform online cryptocurrency transactions.

You can download KuCoin application here for androids.

NAVIGATING THE KUCOIN SPACE (GUIDE 0N KUCOIN EXCHANGE)

Now we will be looking at different things you can do on the KuCoin exchange. This section will serve as a guide to know some of the things you can do on the KuCoin exchange.

Please it is important to note that all screenshots are taken from https://m.kucoin.com and that the setup of all these screenshots is a laptop setup and will differ from the way it will appear on a phone or an iPad or tablet. Despite the differences, the functionality is the same.

Now lets go ahead.

1. MARKETS

When click on "Markets", you are taken to a page that shows you all the different pairs you can trade on the KuCoin exchange.

You also get to see options to trade Spot, Futures and there is an option to see new coins that got listed on the KuCoin exchange.

Here are some of the options made available when you click on "futures"

Also, you can change the base pairs you want to trade from BTC to KCS and to a choice of other ALTS.

2. BUY CRYPTO

Here you see options for fast buy, peer-to-peer and third party as options for buying cryptocurrency.

OTHER OPTIONS...

Under "Trade", the following options are available as seen by the screenshot

Under "Derivatives", you can see the following options as seen by the screenshot

Under "Finance", you can see the following options as seen by the screenshot

Under "More", you can see the following options as seen by the screenshot

CONCLUSION

KuCoin exchange has grown massively since its creation in 2017. It is said that 1 out of every 4 persons involved in cryptocurrency use KuCoin, showing its massive adoption over the years.

In this write-up, we have been able to give a small background into KuCoin. We have also been able to identify some of its features and how to navigate the KuCoin exchange.

Thank you for reading and I believe you found this to be insightful.