On our home page we explain the exchange of Cryptocurrencies in general. Because sometimes one of the used exchanges is down, we here provide alternative exchanges that can be used instead. Below we will explain the exchange process on KuCoin. The tree steps to complete are:
- How to create an account on KuCoin (step 3 on our homepage)
- How to get the deposit address to transfer funds to our KuCoin account (step 4 on our homepage)
- How to trade Cryptocurrencies on KuCoin (step 5 on our homepage)
If you want to compare different Cryptocurrency exchanges, head over to our Exchanges page.
Create an account on KuCoin
This step can be used to replace step 3 on our homepage.
Use the following link to access the KuCoin website:
Next we have to provide an Email address, a password and confirm the password.
After clicking Next, KuCoin will send you a verification e-mail (I got this in my spam folder on gmail, so be sure to also check the spam folder!). Click the link in this e-mail to continue the login procedure. You have now completed your KuCoin account registration.
There are however two more steps you could take (you can also get to this page via the “Settings” menu item):
- Secure your account by enabling 2FA (2 Factor Authentication). For this you need to click on Google 2-Step (marked green in the screenshot below). This form of security makes use of the Google Authentication app that you need to install on your smart phone and is explained very well on the site.
- Upgrade your deposit and withdrawal limits by verifying your identity. For this click on the Credential menu (marked blue in the screenshot below). You will have to provide extra information about yourself and upload pictures of a passport, identity card or drivers license.
Now let’s get some funds in so we can start trading.
Get a deposit address to transfer funds
This step can be used in combination with step 4 on our homepage.
Before we can start trading on KuCoin, we need to transfer funds to our account. For this we need the deposit address from our KuCoin account (KuCoin wallet) for the Cryptocurrency that we want to deposit.
Let’s start by logging into our KuCoin account. Choose “Assets” from the top menu. You will get a list of all Cryptocurrencies available on the website. To make depositing easier, we can ho to the Deposit page (marked green in the below screenshot).
Copy your public key and use it to transfer funds to your KuCoin account.
ATTENTION: Make sure you are using the correct deposit address (wallet) for the Cryptocurrency you want to deposit. When depositing Ethereum you need an Ethereum deposit address, when depositing Bitcoin, you need one for Bitcoins, etc. All these deposits are linked to your account but differ in which Cryptocurrency they can hold. Send Ethereum to a bitcoin or any other Cryptocurrency deposit address and you will lose it all!
Now that we know our deposit address, we can transfer funds to it.
No idea what this means? Or you have no Cryptocurrency yet? Head over to our homepage and follow our 5-step guide on how to start trading Cryptocurrencies. In step 1 and 2 we explain how to buy your first Cryptocurrency. Because you’ve already read this page, you can skip step 3 and parts of step 4, Nice!
How to trade Cryptocurrencies on KuCoin
This step can be used to replace step 5 on our homepage.
The final step of this guide/tutorial is to trade our deposited Ethereum for another Cryptocurrency. I will not tell you what are the best options for this. There are enough other sites which can give you advice about which altcoin (bitcoin was the “first” cryptocurrency of its kind. All other Cryptocurrencies that are being created now are alternatives to bitcoin. Or in short, Altcoins) is likely going to make it and which is not.
For our example I will just trade all my Ethereum for Neo (NEO). Neo is sometimes called the Chinese Ethereum. It is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network. On the KuCoin website, go to Markets. KuCoin gives you the option to trade 6 major Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), NEO, USDT, KuCoin Shares (KCS) and Bitcoin Cash (BCH). This means that you will need one of these 6 if you want to make a trade. If you have any other Cryptocurrency in your wallet, you will first need to trade it for one of these, before being able to trade it for another.
After clicking on Markets, we immediately see that the layout of the market is different from what we see on other exchanges. KuCoin made an easy to understand exchange for new people, without all graphs, stats, etc. that we would expect from a normal exchange. I’ll explain the easy interface, and afterwards the advanced interface for the same transaction.
We want to change our BTC for NEO, so we need to click on BTC as our base Cryptocurrency and look for NEO (Marked in red on the screenshot below). This will give us the trading pair NEO/BTC.
If we hover over “Buy” in the fast trading column, we can enter a price and an amount we want to buy (marked in blue on the above screenshot). In our example I simply took Ask price that they suggest (current market price) and the Max amount of NEO based on this price. By moving the slider you can easily change this.
Now let’s use the advanced interface. For this we need to click on the graph icon (marked in green on the above screenshot-. This will take us to a new webpage showing us graphs about NEO’s price evolution compared to BTC and it shows us the full orderbook. We again marked the important parts
- Red: choosing or changing a trade pair
- Blue: Buying our NEO
- Green: an extra (Nice!) option of the KuCoin exchange is that it gives you the possibility to do technical analysis on the price graphs. You can add trend lines, patterns, etc.
We are just buying NEO, so after giving in a price and the amount of NEO we want to buy, we can press the big green Buy button.
You are now the proud owner of a Cryptocurrency wallet on your favorite exchange, containing your preferred coins. Now it’s up to you to decide how you will continue. Either you start trading on a daily basis, based on the information in the market or some technical analysis. Or you just HODL (Hold On for Dear Life) and hope your coins reach the Moon.
But remember, always do your own research before investing funds, and never risk amounts you cannot afford to lose. Every investor wants to see his favorite Cryptocurrency shoot for the moon. And this can only happen if a lot of people start investing in it. So, of course, they will propagate it as the best coin to have ever existed with a guaranteed huge ROI. That’s why you always need to do your own research!