How to buy cryptocurrency on Kucoin
1. Create an Account
To buy cryptocurrency on Kucoin, go to the KuCoin homepage or install the KuCoin application on your smartphone or tablet Then, a KuCoin “Sign Up” button will be visible. You must enter your email or phone number and set a strong password.
Once you fill in this information, then you will be given a confirmation email or an SMS, click on the given link or type the code given to validate your account.
2. Extend the possibility to put into use Two-Factor Authentication (2FA)
Basically, to be more secure, it is necessary to turn on two-factor authentication or 2FA. According to the KuCoin exchange, two-factor authentication can be done via Google Authenticator or SMS.
This step further increases the security systems that the app in question has in preventing the unauthorized use of your account.
3. Full identification validation known as a Know Your Customer (KYC) procedure (Optional)
Nevertheless, KuCoin does not require passing through the KYC process when trading but is encouraged to do so for increased withdrawal limits and security.
For further, click on the Account tab and then select the Identity Verification to finalize the process of KYC. The platforms require registering, which always implies giving some personal information and uploading ID, like a passport or a driver’s license.
The verification process may take a few minutes to a few hours to complete.
4. Deposit Funds
However, when using KuCoin to buy crypto, you have to ensure that you fund your account before making a purchase. Find in the upper tab bar the “Assets” and from the dropdown list choose “Deposit.” Select the type of asset, whether it is the traditional currency or you want to deposit Cryptocurrency.
If you are depositing fiat, then choose the payment option (wire transfer or with a credit card, for example) and proceed with the steps. If depositing crypto, copy the depositing wallet address and wallet the cryptos from your wallet.
5. Choose a Trading Pair
When your funds are ready, move the cursor to the “Markets” tab on the site. KuCoin provides customers with multiple trading pairs, for instance, BTC/USDT or ETH/BTC. Enter the search bar to look for the specific cryptocurrency you wish to buy.
Specify the current trading pair by clicking on it to activate the trading platform.
6. Place an Order
Different types of orders can be placed in the trading interface:
– Market orders: Money is exchanged for the cryptocurrency of the current market. It is the fastest way to buy crypto as it will prove. The quantity of the particular that you would like to purchase is entered, and the order is clicked on now.
– Limit orders: If a purchase at a predetermined price level is desired, these would be most appropriate with a limit order. The target price and quantity you wish to buy are input. It will only execute when the price of the market gets to the price you require in your order.
7. Review Your Order
Therefore, when agreeing, make sure to assess the overall order with vigor, concentrating on the amount, price, and total cost. Make sure that everything is entered right and only then click the button ‘Submit the order’.
8. Check Your Balances
After your order has been activated proceed to the “Assets” section if you wish to check on your cryptocurrencies. This is where you can track the output of the source of the investment and, therefore, your portfolio.
