KuCoin exchange review in Turkey
Buy and sell hundreds of digital currencies on the KuCoin exchange in Turkey.
KuCoin is a cryptocurrency exchange. Its defining features are an exceptionally wide range of cryptocurrencies plus a rewarding user-loyalty scheme based on its own native cryptocurrency.
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Exchange hack: In September 2020 KuCoin was hacked and roughly US$150 million of cryptocurrency was stolen. KuCoin says the theft is covered by insurance, and affected users will be compensated.
|Product Name||KuCoin Cryptocurrency Exchange|
|Fiat Currencies||USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more|
|Cryptocurrencies||BTC, ETH, XRP, BCH, EOS, LTC, ADA, XLM, TRX, LUNA & 580+ more|
Credit or Debit Card
|Withdrawal Fees||Fees vary|
What is KuCoin?
KuCoin is a Seychelles-based cryptocurrency exchange distinguished by its rewards currency, KuCoin Token (KCS), and its wide range of cryptocurrencies.
It has a reputation as an early adopter, so buyers hoping to hold coins while they’re still cheap might want to consider KuCoin. On top of this, it offers a useful charting package, which is powered by the third-party TradingView system, to suit more focused crypto holders.
Its fees are also fairly competitive and lower than many other exchanges.
Sign up to Kucoin and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Benefits of holding KuCoin Tokens
KuCoin offers users the unique chance to hold the platform’s own native cryptocurrency, KuCoin Tokens (KCS), which users can hold in order to receive discounts while trading as well as receives dividends from trading fees collected on the platform.
Holders receive a 1% discount on trading fees for every 1,000 KCS they hold, up to a maximum of 20%.
The dividends system is what sets KCS and KuCoin apart from other exchange coins. KuCoin pays out 50% of all fee revenue from the platform each day, which is equally divided between every KCS token held on the platform.
This means a user who holds upwards of 1,000 KCS receives both a discount on all trading on the platform as well as a passive income on a daily basis. KuCoin Tokens may also be traded with several coins, but KuCoin Tokens may only be purchased on the KuCoin exchange.
Which fiat and cryptocurrencies are supported?
- Supported fiat currencies: USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more
- Supported cryptocurrencies: Approximately 591 cryptocurrencies
Which payment methods are accepted?
- Wire transfer
- Credit or Debit Card
Pros and cons
- Offers an exceptionally wide range of currencies.
- Is an early adopter of promising new coins.
- No verification is required.
- Additional features and benefits offered by KCS.
- KuCoin sometimes experiences difficulties during high traffic periods.
- It’s based in Seychelles and thus may not comply with local regulations, depending on where you are based.
How do I make a trade on KuCoin?
You can view the markets on KuCoin without registering for an account, but to actually make a trade, you will need to sign up and log in.
- Visit KuCoin and sign up for an account. Make sure to go the extra step and set up two-factor authentication (2FA) right away. You can activate 2FA by going to Account > Google 2-Step.
- Next, you’ll want to add some funds to your account to trade for altcoins. KuCoin hosts an impressive number of trading pairs, so you can use either BTC, ETH, NEO, USDT or BCH for trading.
- To send coins, navigate to your wallet by clicking on Assets on the top banner. This shows all your available coin balances. Next, click Deposit. By default, it will show KuCoin Tokens. Click on the name to reveal the dropdown menu and select the coin you want to deposit.
- Your deposit address and QR code will be revealed. Copy the deposit address into your withdrawal account exactly as it is written. Once you confirm the transfer, wait patiently for the funds to arrive in your KuCoin account. You should receive an email once they have been received.
- Once your funds have arrived, navigate to Markets via the top banner menu. You will then need to select the currency you deposited, which will allow you to trade all altcoins paired with that coin. Click on the altcoin pair you wish to trade. For example, clicking on TRY/BTC will allow you to trade BTC in return for TRY.
- Once you select the pair you wish to trade, you will be taken to a new screen which displays a chart with price over time, the order book (supply/demand), price data and trade history. The box in the bottom right corner will ask you to input your two-step verification code.
- This box is where you can buy and sell your cryptocurrency. Use the green box on the left to input the price you wish to pay per unit of the coin then the total amount of coins you wish to purchase. To make things easier, there is a slider that you can adjust to spending a percentage of your spendable holdings. The box to the right allows you to follow the same process to sell a coin.
- Once your trade has been lodged, you will need to wait until there is a corresponding buy/sell order. Once the trade has been matched, the coin will show up in your wallet immediately, which can be accessed via the Assets tab.
- After you are done trading, you may keep your coins on KuCoin or move them to another wallet. As always, we recommend keeping your coins in a hard wallet to increase your safety and keep full control over your cryptocurrency. For those new to wallets, our essential guide can be found here.
How to access KuCoin
- iOS app
- Android app
You should carefully consider the features of KuCoin before deciding whether it suits your needs. If you want to proceed, simply sign up for KuCoin with an email address and password, verify your email and then start trading by making a deposit from your wallet.