How to Buy on KuCoin
Posted by Frank Gogol in Crypto | Updated on November 15, 2022
Despite many concerns, the future is still looking bright for cryptocurrency.
Naturally, we’d all love to be a part of this exciting economy. The first step to doing so is by investing in your chosen cryptocurrency. You can do this through exchanges like KuCoin.
Don’t know how to buy on KuCoin? In this article, we’ll talk about the recently-introduced KuCoin, its features, and how you can start using this new crypto exchange.
Table of Contents
What is KuCoin?
Established in 2017, KuCoin is an international cryptocurrency exchange platform that caters primarily to traders or investors.
There’s a lot to gain from KuCoin’s many features. Aside from its smooth, convenient UI and the standard trading platform fare, it also offers P2P, futures, and margin trading.
Users can trade about 400 different cryptocurrencies on the platform – one of the most extensive lists of cryptocurrencies hosted on any exchange site. Best of all, it has some of the lowest base fees among current leading crypto market exchanges, which further enhances its popularity.
In other words, if you’re looking for a beginner-friendly cryptocurrency with a robust trading environment and cheap transaction fees, then KuCoin is an excellent option.
How to Buy Crypto on KuCoin
You can trade hundreds of cryptocurrencies on KuCoin – all it takes is to buy your first crypto.
Thankfully, KuCoin is designed to be user-friendly, whether you’re using the app or the desktop version. You simply have to register with your email address or phone number. However, this will only provide you with a limited range of features.
If you want to access the full range of features and benefits that KuCoin offers, you need to follow a registration and verification process.
The following sections will teach you exactly how to buy crypto on KuCoin.
1. Sign Up for KuCoin Account
Before everything else, you need to have a KuCoin account. This can be done by navigating to KuCoin’s website and then following the instructions below.
- On KuCoin’s homepage, look for the Sign Up Now button and click it.
- Choose whether you want to register via email or phone number.
For the Phone option, you’ll have to enter your phone number. KuCoin will send a code. Enter the code into the field and set your password.
For the Email option, you’ll have to go through the same process, except you’ll be receiving the code via email.
- Complete the CAPTCHA and click Next.
- If everything is good, KuCoin will instruct you to check your email address for a confirmation letter.
- Log in to your email. If you can’t find it in your inbox, wait for a few more minutes or check your Spam folder.
- Once you find the email, open it to click the confirmation link.
- This will bring you back to the login page. Enter your credentials and open your personal KuCoin account.
2. Secure Your KuCoin Account
KuCoin uses two-factor authentication (abbreviated as 2FA) to secure your account on the platform.
2FA is a type of multi-factor authentication that provides an additional layer of security to your account. In order to enable it, you need to provide at least one other piece of information to complement your login details, hence the word “two-factor.”
2FA isn’t enabled on the KuCoin platform by default, but it’s a requirement if you want to proceed with your account creation.
Follow the instructions below to enable two-factor authentication for your KuCoin account.
- The first time you open your account, you’ll see a pop-up box with a reminder that you have to enable your 2FA setting. Go to Accounts and click “Bind 2-Step Verification.”
- Follow the on-screen instructions to secure your backup key, then click Next.
- Download the Google Authenticator app on your mobile phone.
- Scan the on-screen barcode and enter the verification code. Click “Submit.”
- KuCoin will warn you not to unbind your 2FA from your phone’s Google Authenticator to secure your KuCoin account.
- Congratulations, you have now secured your KuCoin account through 2FA. You can also add security questions for additional protection.
3. Verify Your Identity
Know Your Customer (KYC) processes are designed to further improve the security of your account by linking it to your personal information. Although you can technically use KuCoin even without verifying your identity, a withdrawal limit will be imposed on you until you undergo the verification process.
That’s why, if you want to use KuCoin fully, you’re going to have to complete the KYC. To do so, follow the steps below.
- After setting up your 2FA and your security questions, you need to verify your email address first. Log in to your email address and look for KuCoin’s message. Click the Confirm button or the attached link.
- This should bring you back to a KuCoin page confirming your verification.
- Next, pick the type of account that you have, and click on the blue Continue button.
- The following window will display the requirements needed for your KYC verification. To proceed, click Continue.
- Fill in all the required information. You also have to submit a copy of your valid ID.
- To check if you’ve filled in everything correctly, go to Account Security and ensure that every step reads Completed.
- KuCoin will review your information. If everything checks out, you should receive a confirmation shortly.
- To see your verification status, go to Overview. The account status will change to Verified once you have been approved.
4. Connect Your Account to Funds Fund Your Account
Now that your account is confirmed, you can begin your trading journey. The first step is to learn how to finance your account.
- On the platform, click the Assets button.
- Choose the asset that you wish to deposit, or type it in the search bar.
- Click the Deposit button right beside your chosen asset.
- On the following field, input your wallet address. You can also scan the barcode with a QR scanner.
- KuCoin will show you a screen with tips to do before you confirm your deposit. Make sure to double-check your wallet address first.
- Complete your transaction.
- If you want to check your transactions, everything is viewable under the Deposit History tab.
5. Start Trading on KuCoin
You can start trading to earn money as soon as your account receives the assets you transferred, which shouldn’t take long.
- Once your asset is deposited on your account, navigate to the Markets tab.
- Select your asset from the list, and then click the Trading button next to it.
- To buy, fill out the Buy field with your preferred amount, and click Buy. The process is the same for the Sell option.
You can view all your current orders by checking the Open Orders button or your history under the Trade History option. Aside from this, you can also do other forms of trading on the KuCoin platform.
How to Buy on KuCoin: The Bottom Line
KuCoin is a promising crypto exchange that is already gaining popularity, with its beginner-friendly platform and low rates.
Registering, verifying your identity, and trading on KuCoin are all pretty straightforward, and you can do everything in less than an hour. If you’ve reached this far, you now know how to buy on KuCoin and start trading your chosen cryptocurrency.
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