Kucoin help - Just signed up.

[JamesDaniel90]

Hi,

I have just signed up with Kucoin as there are a couple of altcoins I want to purchase at these extremely low prices we are currently seeing and hold for the next 1-2 years.

Up until now I have just used Coinbase which I have found pretty easy to use, you can just buy the crypto you want and hold but looking at Kucoin now is it only available for trading or am I missing something? I just can't see a quick way of buying crypto like you can on Coinbase.

I just want to buy about £200 worth of each altcoin and hold, I don't want to trade.

[Oshosondy]

How to Make a Trade on KuCoin
Spot Trading Guide - KuCoin

If you want to hold for a year or two, make use of hardware wallet that support the cryptocurrencies you want to hold, never leave your coins on exchanges, you have no complete control and your account or coin can be freezed and exchanges can be hacked.

[cryptoaddictchie]

Its actually same almost With coinbase and easy to use. There are plenty of tokens on Kucoin that arent coinbase so creating one is quite advantage on your part. But make sure to create a non custodial wallet seperate from it to store your tokens youll bought on Kucoin as you are planning to hold it for long term.

[JamesDaniel90]

It is not as simple as Coinbase by the sounds of it.

On Coinbase, I select the crypto I want and literally just press buy. I do not see this option on Kucoin.

Kucoin however I have to do this through Spot trading?

[Maus0728]

Kucoin is just a standard exchange like Binance, which you have the opportunity to buy the altcoin at Spot Trading[1]. As for deposits, as far as I know, you can deposit fiat currency through their supported payment channel[2] in addition to using stablecoin[3].

The only caveats here is that you must go through the KYC process and that purchasing cryptocurrency is not as simple as using Coinbase. It would take some time to understand how Spot Trading works and how to deposit fiat from available banks or payment gateway.

[1] https://www.kucoin.com/support/360015207073-How-to-Make-a-Trade-on-KuCoin
[2] https://www.kucoin.com/blog/kucoin-launches-fiat-account-for-crypto-purchase-with-usd-deposit


Edit: Most likely, you are going to trade using Spot. Spot is basically buying or selling an asset without leverage just like the traditional buy and sell in stock market.

[Note3]

It is not as simple as Coinbase by the sounds of it.

On Coinbase, I select the crypto I want and literally just press buy. I do not see this option on Kucoin.

Kucoin however I have to do this through Spot trading?

Because you want to buy and after that keep it for a long period then you have to do spot trading and after successfully the trade, withdraw the coins and save it in a personal wallet where you have access to PK (Private Key) don't ever trust CEX or any 3rd party to save your funds for a long periods, most likely you can lose all your coins.

[aysg76]

So you are interested in buying which altcoin specifically could you tell us through kucoin? There are lot of listed there and you could choose any trading pair like with BTC but make sure you have the right choice of coins as you are investing £200 for each of them for long term :

So if you are interested in having the information you have the links above or you could check it on YouTube for such videos for step by step guide like this one

But keep in mind that if you don't want to trade them then keeping them on exchange is very risky so it's better to have hardware wallet for them like Trezor or Ledger Nano but depending on the coin they support so make sure about it.

There were recent rumours about kucoin becoming insolvent but the CEO denied the rumours about it just letting you know so if you come across this information.

[cryptoaddictchie]

It is not as simple as Coinbase by the sounds of it.

On Coinbase, I select the crypto I want and literally just press buy. I do not see this option on Kucoin.

Kucoin however I have to do this through Spot trading?

Oh I see, maybe you need to use binance instead. They have a direct conversion of token or coins from usdt without using spot trading. But actually its much easier to use a dex since you will automatically swap the tokens you wanted to buy. Why not try to learn the function of dex ( decentralized exchange) also its not a centralized so you wont worry on being hold up or locked of funds. Im confident though that the tokens you are interested with is listed as well on dex.

[JamesDaniel90]

Yes I use Binance too for a couple of my coins and looks like it is a lot smoother then Kucoin is.

I have worked it out now, part of it was down to just being a new platform I am not used to but on first impressions I prefer Binance.

[tranthidung]

I just want to buy about £200 worth of each altcoin and hold, I don't want to trade.

Buying many altcoins in bear market and hold? I call it as suicide.

From past bear markets, most of altcoins lose more than 95% to 99% of its value from ATH. Most of them die in bear market and developer teams abandoned their projects in bear markets too.

Historical snapshots from Coinmarketcap shows you that top altcoins can die too. So think of it, and see what altcoins you are considering to buy? Even they are top altcoins, they are not completely safe.

[Rikafip]

Up until now I have just used Coinbase which I have found pretty easy to use, you can just buy the crypto you want and hold but looking at Kucoin now is it only available for trading or am I missing something?

Since you couldn't find those altcoin on Coinbase (which has wide selection of those) I guess that your plan is to buy some utter shitcoins. Do yourself a favor and stick to BTC during bear market.

Buying many altcoins in bear market and hold? I call it as suicide.

+1

This is a common newbie misconception, thinking that just because some altcoin went down 90% it makes it a good buy opportunity, not realizing that very same altcoin can (and most probably will) go down 99% more while majority won't even survive the bear market. That recent LUNA fiasco was a perfect example of that, and caused many people losing shit load of money.

[Mpamaegbu]

OP should do a thorough research before sending their hard earned cash to Kucoin. There's a recent withdrawal restriction rumour there and then a debunking news from that quarters from Kucoin's CEO. I would believe that there's no fire without smoke. I think there's something going on there now that you may want to watch carefully. You can find news story here – KuCoin CEO slams insolvency rumors citing “no plan to halt withdrawal”. I didn't point this out to scare you but to alert you.

[noorman0]

-snip-
you can just buy the crypto you want and hold but looking at Kucoin now is it only available for trading or am I missing something? I just can't see a quick way of buying crypto like you can on Coinbase.

I just want to buy about £200 worth of each altcoin and hold, I don't want to trade.

If you mean some kind of instant trading like “market orders”, Kucoin has a dedicated page for this (crypto trading pairs only). And it looks like it only supports some altcoins because they charge 0 trading fees.

Kucoin has almost no attractive offers for buying crypto using fiat, maybe quick buying with fiat won't be their main feature.

[Cryptoababe]

You are safe with kucoin. You can keep coins there and hold. You can buy coins that trade on kucoin. But the difference is coinbase list better coins than kucoin. You might easily end up buying useless coins on kucoin. So, you need to be careful and make more research before investing on any altcoin on kucoin.

[JamesDaniel90]

Up until now I have just used Coinbase which I have found pretty easy to use, you can just buy the crypto you want and hold but looking at Kucoin now is it only available for trading or am I missing something?

Since you couldn't find those altcoin on Coinbase (which has wide selection of those) I guess that your plan is to buy some utter shitcoins. Do yourself a favor and stick to BTC during bear market.

Buying many altcoins in bear market and hold? I call it as suicide.

+1

This is a common newbie misconception, thinking that just because some altcoin went down 90% it makes it a good buy opportunity, not realizing that very same altcoin can (and most probably will) go down 99% more while majority won't even survive the bear market. That recent LUNA fiasco was a perfect example of that, and caused many people losing shit load of money.

Ive done £100 which is not too much to gamble on compared to the thousands people lost on Luna.

I DCA Bitcoin every day I just like to have a few long shot altcoins too incase one of them does well next bull run.

[Rikafip]

You are safe with kucoin. You can keep coins there and hold.

Kucoin is "safe" until it isn't and hodling money there (or any other centralized exchange for that matter) is not a smart thing to do. Given the recent happenings, I think that its obvious that no one is too big to fail, exchanges included.

[Husires]

If you have the option to use more than one platform, do not link to one platform.
I use OKX platform and I think it is better than Coinbase/KUcoin, but specify the differentiation aspects that you are looking for, such as:

• Quick responses from the support team.
• Interface: Kucoin is similar to Binance
• Fees.
• Offers a lot of altcoins with suitable trading volumes.

Then we can help you choose the best alternative based on the above data.

[examplens]

Up until now I have just used Coinbase which I have found pretty easy to use, you can just buy the crypto you want and hold but looking at Kucoin now is it only available for trading or am I missing something?

Since you couldn't find those altcoin on Coinbase (which has wide selection of those) I guess that your plan is to buy some utter shitcoins. Do yourself a favor and stick to BTC during bear market.

Buying many altcoins in bear market and hold? I call it as suicide.

+1

This is a common newbie misconception, thinking that just because some altcoin went down 90% it makes it a good buy opportunity, not realizing that very same altcoin can (and most probably will) go down 99% more while majority won't even survive the bear market. That recent LUNA fiasco was a perfect example of that, and caused many people losing shit load of money.

Ive done £100 which is not too much to gamble on compared to the thousands people lost on Luna.

I DCA Bitcoin every day I just like to have a few long shot altcoins too incase one of them does well next bull run.

if you have done your own research, then do it. of course, you have to be aware of the risks. you should not listen to unknown people on the Internet, neither for buy nor for don't.
I believe that you will quickly forget about Coinbase because Kucoin (at least in my opinion) is a much better platform with more possibilities.

If you plan to hold (I believe that yes  ) it's worth looking at the earn section on there
of course, you should be careful, no one will look after your money like you would,

[passwordnow]

Ive done £100 which is not too much to gamble on compared to the thousands people lost on Luna.

I DCA Bitcoin every day I just like to have a few long shot altcoins too incase one of them does well next bull run.

You're doing it then. Kucoin is like any other exchange that you get to buy from the sold coins of others in the spot market. While Coinbase, it's like a wallet exchange that you can automatically buy and sell directly from them. That's why I also find exchanges like that too easy to use because you don't have to wait for someone to have that price for you because they have their own market price but it's sort of lower than the market price that you see on most exchanges.