*Note – Kucoin has amassed two million users in only a few months. Sign up now before they close the doors again to new members!
If you think 2017 was an exciting time for cryptocurrency, the first few weeks of 2018 have proven one thing – now is absolutely the best time to be in cryptocurrency, and this Kucoin review will exemplify and explain why.
Cryptocurrency is moving so fast that it can seem challenging to keep up with, but let me tell you that what is happening right now is absolutely fascinating and is changing the landscape of what cryptocurrency is, and what this means for the future of global finance.
The cryptocurrency explosion has opened new markets and new business opportunities which have created an arms race of epic proportions. Cryptocurrency exchange platforms are in all out war to become the top exchange in the wild west.
And here’s the exciting bit…
Cryptocurrency trading platforms like Coinbase and Bittrex are in deep trouble. Recent US-tax regulations coupled with old-school thought process has these mammoth exchanges on the brink of panic. These platforms have been more interested in profit and have not been keeping up with the times – this means that if you are jumping into cryptocurrency trading now, you are better off starting your journey with one of the newer, more innovative platforms.
New trading exchanges such as Binance and Kucoin (and we’ll see about new kids on the block UpCoin and Coss) are completely shattering the competition and taking the lead as the dominant cryptocurrency exchange platforms. These platforms are investing their time and money into the cryptocurrency community, which is paying them back thousands of times over.
Because of this, the Kucoin cryptocurrency exchange is tied for my number one recommendation as the best cryptocurrency exchange for beginners.
Here’s why I love Kucoin…
- Kucoin Shares and profit sharing
- Access to a huge variety of cryptocurrency alt-coins
- Kucoin is currently accepting new members
Numerous cryptocurrency exchanges have paused taking new members due to unprecedented demand and this means that it is becoming more challenging to enter the fascinating world of trading cryptocurrency.
Whether you want to jump on the crypto-train today or in six months time, I strongly recommend you to set up an account with Kucoin, and as soon as possible.
I believe that in the next 6 months Kucoin will share the throne with Binance as the top cryptocurrency exchange platform in the world and that at some point in the next few weeks, Kucoin will probably stop taking new members.
Yes, I have affiliate links in this post. But the biggest reason why I’m promoting Kucoin (which is one of the exchanges that I trade on myself) is that I 100% believe Kucoin is positioned to take over the cryptocurrency exchange market, and given its structure, early adaptors are the ones who are truly going to benefit.
Crucially, at some point, Kucoin will likely have to temporarily close its doors to new members.
If you are looking to start trading cryptocurrency on Kucoin, you can do so by following the link below.
The rest of this article will explain why Kucoin is revolutionizing the cryptocurrency market, why I think this particular exchange is primed to take over as the number one cryptocurrency exchange platform, and the step by step process of setting up an account. (The button below is my invitation code)
Other cryptocurrency reading…
Table of Contents
Binance vs Kucoin
I think to be able to completely understand Kucoin, we have to understand Binance.
To sum it up, Binance came out of nowhere 6 months ago and completely took over the cryptocurrency exchange market by becoming the biggest trading platform on the planet.
It did this by…
- Offering alt-coins (and ICO’s) that were difficult to access elsewhere
- Offering Binance Coin (BNB) which innovated the coin-exchange process
- Providing an easy to use platform
At the time, there was a cryptocurrency exchange vacuum. US-based cryptocurrency platforms are dealing with tax issues and complications presented by the IRS forcing them to temporarily close their doors. This vacuum has enabled Binance’s volume to go through the fucking roof, as they added 1 million users in three weeks.
But…. that sort of growth is unsustainable, so Binance has semi-shut its doors to help scale better (they’re going to have to, they could hit 50 million users by 2019).
Binance shutting its doors has now created a new vacuum, which is allowing Kucoin’s volume to go through the fucking roof.
Whichever exchange has the largest trading volume controls the market and THIS is where you want to be doing your trading as this is where you will find the best pricing.
Kucoin in itself is a revolutionary cryptocurrency trading platform and believes in supporting the cryptocurrency community – something I am behind 100%.
Kucoin Exchange Review – Pros
Launched in August 2017 in Hong Kong, Kucoin is already one of the best cryptocurrency exchange platforms, and the founders clearly have a passion for blockchain technology and the fundamental values of how cryptocurrency will change the world. Kucoin seems genuinely more interested in revolutionising the world, and not just getting rich quick. Because of this, the exchange truly stands out.
Kucoin’s appeal is in its community and everything they are offering to incentivize and reward their community for spreading the word about all things cryptocurrency.
Let’s look step by step at what Kucoin is offering, and why it’s arguably the best cryptocurrency exchange platform on the market right now…
Kucoin has an easy to use interface
While the benefits of Kucoin might seem to benefit someone with a more advanced understanding of cryptocurrency – the opposite is true!
The interface is simple, clean, and easy to use.
Honestly, Kucoin offer one of the nicest and most seamless trading experiences I’ve had yet. A bit different to, but on par with Binance.
Kucoin is offering ICO’s for HOT alt-coins
KUCOIN is offering some of the hottest ICO’s and competing with Binance for exclusive rights to ICO’s.
ICO’s are ‘Initial Coin Offerings’ for when a coin goes public (meaning you can actually buy them!). When coins first go live – they are usually cheap!
Hence the advantage of using a cryptocurrency exchange platform that gives you access to alt-coins. While Coinbase, Bitmex and other cryptocurrency exchange platforms offer popular coins, they rarely allow you to snatch up the new guys and this is where the truly massive profits can be made.
But if you follow my cryptocurrency strategy – finding and buying new alt-coins is a big part what you SHOULD be focusing on.
Overall it’s a great platform to buy alt-coins. Kucoin don’t have every alt-coin available, but they do have a massive selection and they offer a lot of newer, under the radar coins that can be hard to find.
Crucially, Kucoin are getting exclusive access to new cryptocurrencies by the day. This allows you to get newer coins at a lower price. Getting in early is a competitive edge you don’t want to miss out on as when these coins eventually hit other exchanges, they will pump and you can make an easy, predictable, profit.
Kucoin Shares (KCS – part one)
Similar to Binance, Kucoin offers both a cryptocurrency exchange platform AND it’s own cryptocurrency.
This means that if you use Kucoin (KCS) while trading on Kucoin, you won’t have to pay any trading fees. This is a win-win. Users win because we don’t have to pay fees, and Kucoin wins because the value of their coin skyrockets.
Binance Coin did the same thing, and this exact same strategy helped catapult their coin’s value in 6 months.
Owning Kucoin shares (KCS) will give you a discount on all commissions, but also give you an edge to grab an early stake in a hot new coin.
This will only continue as Kucoin has promised to do quarterly buyouts until 100 million KCS have been destroyed – therefore raising the value of the coins that are still in circulation (and hopefully in your account!).
Kucoin profit sharing (KCS – part two)
KCS is inherently tied into the structure of Kucoin and is what makes it so interesting and valuable, but we’ve seen this already. Binance has offered the same thing with Binance Coin. So what’s the big deal?
The big deal is what Binance Coin does NOT offer – profit sharing.
In short, when a trade is made, Kucoin charges a fee (more on this later).
10% is kept by Kucoin (their cut).
40% is redistributed to the referrer (more on this in a minute).
50% is redistributed to KCS holders.
Let’s focus on that last number. 50% of trading fees are redistributed to KCS holders. That means, every day that you own KCS, you are earning passive income as Kucoin is giving you (and all other KCS owners) 50% of their trading fees. And as shown on this spreadsheet (thanks redditor NeoFattener!), this passive income can add up quickly.
Now let’s go back to that 40% I mentioned before…
Kucoin Referral Program
Finally, the best part for some (me included) is the (current) referral program.
The chart speaks for itself.
And no, in case you were thinking ‘is this a pyramid scheme?’ or ‘multilevel marketing’? It is neither. You don’t have to buy anything to get your referral payout, all you need is an account and a referral code. And tracking your referrals is super easy!
That’s why having your own invitation code can really add up for you.
With the structure of 20%, 12% and 8% for first, second and third degree referrals, you can imagine that this program has the capacity to create a lot of income, and very quickly. I have no reason to believe this will last longer than a few months, so the sooner you sign up, the more referral opportunities you will have. (Click on the button to get my Kucoin invitation code)
How to get your own Kucoin invitation code
Is super easy.
Once you set up your account, just navigate to Explore -> Invitation Bonus.
Once you are on the invitation bonus menu, your unique Kucoin invitation code will be front and center. I highly recommend getting your Kucoin invitation code out there and sharing it with friends – referrals will add up quickly and provide you with a passive cryptocurrency income (and a special thanks to anyone who uses my Kucoin invitation code!).
Kucoin Exchange Review – Cons
But while I am an avid Kucoin fan, it isn’t all butterflies and rainbows. There is one thing, in particular, you need to keep an eye out for with Kucoin cryptocurrency exchange.
No FIAT Currency
FIAT currency is a currency that is backed by governments – aka legal tender – aka dollars, euros, pounds, etc. This means that you can’t purchase cryptocurrency directly on Kucoin. Instead, you have to purchase your bitcoin elsewhere, then send it to your Kucoin account. You can learn how to do so here.
But this is quite common as Binance and many of the other best cryptocurrency exchanges do not offer FIAT currency and you instead have to buy your Bitcoin elsewhere before you can start buying alt coins on the exchange platforms.
High fees for certain coins
While Kucoin offers reasonable rates and fees for trading some cryptocurrencies, others are insanely expensive.
Granted, I understand that with such a generous payout system Kucoin needs to profit somehow, and it ultimately helps drive people to use KCS, but it’s not going to make everyone happy.
Servers reportedly crashing
There have been a few reports online that Kucoin has had a hard time handling the new amount of volume it’s been given.
But let it be stated that my experience setting up a few different accounts was 100% smooth.
Kucoin are actively investing in improving the user experience and their servers.
Conclusion to why Kucoin is the best cryptocurrency trading platform
Kucoin is utterly fascinating. The structure of KCS really supports the idea of blockchain, and shows the Kucoin is more interested in long term growth and contributing to cryptocurrency. Don’t get me wrong, they are going to make a fucking killing themselves, but it will be in a way that seems to benefit everyone.
Update: I far prefer Binance, Kucoin has recently been a pain in the ass.
Improving your cryptocurrency knowledge
Ultimately, if you want to make money with crypto you have a couple of options. The easiest thing to do is to build a diversified portfolio of carefully selected coins and then to simply wait a couple of years. However, this is not the most effective way to make mad money. If you want to truly crush it at crypto, you need access to truly knowledgable people.
I am not your guru. I’m a crypto enthusiast, not a professional trader, and I make plenty of mistakes. There are a huge amount of ‘gurus’ and ‘experts’ out there but the truth is that many of them haven’t got a fucking clue what they are talking about. Opinions in cryptocurrency are like assholes, everybody’s got one. It’s extremely easy to predict the market and hell, everybody seems like an expert, when cryptocurrency is experiencing a bull run.
It’s very very easy to make mad money when the market is on an upswing, less so when cryptocurrency enters a bear market. Talented traders, and those with information, can make money on the way up and on the way down.
One thing I’ve noticed is that the media, especially Twitter, can have huge effects of the market. If you decide that cryptocurrency is your new thing, if this is where you want to spend your time, then I strongly recommend that you educate yourself and improve your understanding of who to follow, who to trust, when to buy and when to hold.
There are many groups on Facebook where you can find likeminded folks who will happily talk crypto all day but the problem is that 99% of these groups are filled with people who have only a very basic understanding of cryptocurrency and the knowledge available here is not particularly strong. I have recently left almost every single group on Facebook as, in my opinion, they are largely filled with FUD.
Recently, I joined a paid cryptocurrency mastermind group and the tips in here have been pretty next level. Currently this group, which I cannot name, is not taking new members.
There are alternatives out there though. A friend of mine who is well connected in the crypto space, Derrick, has teamed up with the legendary Diggy Dirk and created a platform for newbie cryptocurrency traders and enthusiasts – Keys To Freedom.
Whilst I am not a member of this community myself, many members have reported tripling their investments by following Derrick’s advice.
If you are serious about cryptocurrency trading, I strongly recommend finding a mastermind group that suits your skill level and budget so that you can improve your knowledge, expose yourself to less risk, and gain access to news and tips before they hit the mainstream market – this is where the real money is to be made.
Overall, 90% of Kucoin’s fees are going back to the community, and that (plus Binance’s sabbatical) will contribute to it being a top 5 cryptocurrency exchange in the world in the next 40-60 days. Guaranteed.
If you want to start trading cryptocurrency today or in the future, I strongly recommend opening a Kucoin account whilst the doors are still open.
Hey guys, let me know in the comments below what you think and if you want me to add anything else to this ultimate guide – I can expand and make it as detailed as you need to take your first steps towards trading cryptocurrency.
Disclaimer: I am not a professional (or even a veteran) trader. I am an intermediate trader with a passion for cryptocurrency. I am disclosing my own ventures in crypto because cryptocurrency trading does make up a chunk of my online income and I want to be 100% transparent with you when it comes to making money online. Investing in cryptocurrencies carries a risk – you may lose some or all of your investment. Always do your own research and draw your own conclusions. Again – this article is aimed purely at advising; draw your own conclusions on whether cryptocurrency trading is right for you.
Writer and entrepreneur. Adventurer and vagabond. Master of the handstand pushup. Conqueror of mountains, survivor of deserts and crusader for cheap escapades. Will has been on the road for thirteen years, travelling to far-flung lands on a budget. Today, he runs a number of online ventures, including The Broke Backpacker – the world’s largest budget travel blog. He is passionate about solving the plastic problem and cleaning up the oceans. Currently, Will is based in Bali where he plans to open his first Tribal Hostel in 2020.