KuCoin is a reputable cryptocurrency exchange founded in 2017 and has over 11 million users worldwide. Micro-withdrawal wallets, industry-level multilayer encryption, and dynamic multi-factor authentication are among the security features.
Guideline for new crypto investors:
Guidelines for the crypto are necessary, well, the next yet important phase for crypto investors after accepting the risk and taking care of your other financial obligations.Although there are thousands of different cryptocurrencies, experts advise that you avoid most of them. Cryptocurrency prices swing by the hour, especially for the coins considered not that popular. Moreover, it has also been noted that established yet popular cryptocurrencies varying from Ethereum to Bitcoin exchange, are subject to volatility. Still, they have a better track record of gaining value.
The procedure for purchasing Ethereum — or any other altcoin exchange — is identical to purchasing Bitcoin. Still, we’ll use Bitcoin as an example throughout because it’s the most valuable and widely-held crypto on the market right now.
Here are the steps to becoming a new cryptocurrency investor:
Select an Exchange:
Bitcoin is now unavailable for purchase through your bank or investment firm, while some institutions are attempting to make it possible in the future. For the time being, you’ll have to convert your U.S. dollars for Bitcoin or other digital currencies through a cryptocurrency trading platform.
There are hundreds of cryptocurrency exchanges where you may buy cryptocurrency stocks online, but Coinbase, Gemini, and Kraken are three of the most popular. These exchanges are online marketplaces for buying and selling cryptocurrency.
Unlike FDIC-insured bank accounts, a central institution does not have cryptocurrency investments. If your account is hacked or the site where you store your coins is hacked, you could lose all of your money.
After trading and earning an amount, the investor has a right whether to choose to keep the cryptocurrency on an exchange account or move it to your wallet; make sure you choose one that employs offline, cold storage and has robust anti-theft measures. Some exchanges also have insurance coverage to protect investors from hackers.
When you create your account, you may be asked to give information such as your Social Security number, I.D., and source of income, depending on the exchange you choose.Most exchanges allow you to connect your debit card to transfer U.S. dollars into your exchange account. It depends on how you load your account; you may incur varying costs; usually, bank transfers are less expensive than card choices.
How to Purchase Additional Cryptocurrencies?
Buying other crypto currencies should be the same as buying Bitcoin if you want to invest in crypto. Ethereum will be available for the same exchanges and platforms as Bitcoin. If you’re looking for a specific altcoin (which experts generally don’t recommend investing in), the exchange you choose may need to consider that. While some vast exchanges contain 50 different coins, several platforms only have a few altcoins.
KuCoin is a cryptocurrency exchange all over the world. While some of the features of this exchange may demand experienced traders.