What is KuCoin?

KuCoin provides traders with a wide range of tools for cryptocurrency trading. All major cryptocurrencies and tokens are available, there is a large leverage, a convenient trading terminal, regular promotions and contests. Commissions are below the average for the segment. Experts evaluate this promising platform as one of the future leaders of the global crypto trading.

It was created in 2017 by a group of experienced business professionals who previously worked on projects such as Ant Financial and iBox PAY.

The goal of the founders was to create a simple and secure platform for people all over the world to trade an extensive list of different cryptocurrencies without any problems. In the long term, they wanted to become one of the top ten exchanges in the world and hoped to achieve this by the end of 2022. And it should be noted that they almost succeeded.

Now, in terms of trading volume, KuCoin has come close to the 10 largest exchanges.

Since its launch, KuCoin has not experienced any noticeable issues, and overall, the platform does not suffer from system overloads. The KuCoin derivatives trading platform can now be accessed via desktop, as well as via the Android and iOS app.

The platform also has its own token called Kucoin Shares (KCS)! By holding KCS coins, Kucoin users receive trading discounts. A similar principle of operation is used by many exchanges. In addition, KCS coin holders also receive 50% of all trading commission profits received by the exchange!

In general, this is a fairly convenient platform. Traders like KuCoin derivatives trading as well as working in the spot market.

KuCoin is a cryptocurrency exchange with a variety of digital assets and cryptocurrencies
KuCoin is a cryptocurrency exchange with a variety of digital assets and cryptocurrencies

What are crypto derivatives?

The cryptocurrency market in its development repeats the path of development of classical markets. The difference is that the evolution of classical financial markets took several decades, while cryptocurrencies move many times faster.

Now, a wide range of instruments is already presented on the cryptocurrency derivatives market - from simple CFDs to complex options.

The essence of the evolution of any financial market is a gradual increase in liquidity and trading volumes. When the market has already accumulated a certain liquidity, instruments appear that, as their popularity grows, help to increase it further. So there is a movement from the spot market to the emergence of derivatives markets. The higher the liquidity, the more complex these instruments become.

Schematically, the process goes like this: first, simple derivatives appear - CFDs and futures. With a further increase in liquidity, options appear on the market. In the case of cryptocurrencies, these are options both on the cryptocurrency itself and on futures.

KuCoin cryptocurrency derivatives trading platform
KuCoin cryptocurrency derivatives trading platform

How to trade KuCoin derivatives in the Philippines?

To trade on KuCoin derivatives in the Philippines, you need to register on the platform. The registration process is as simple as on other sites, and will take you no more than 5 minutes.

Immediately after registration, you can fund your account and start trading on KuCoin derivatives in the Philippines.

How to register?

The exchange has a simple registration process that takes only a few minutes.

Select the "Register" button in the upper left corner of the official website. You will be offered two ways to register. You can register an account on the mailbox and on the phone. In both cases, you will receive a code that will need to be entered in the appropriate field.

After that, check the box agreeing to the terms of use of the site and click the "Next" button. This completes the registration on KuCoin. You can fund your trading account and start trading on KuCoin crypto futures in the Philippines.

There is no mandatory verification on KuCoin, which greatly simplifies the work with the service. But if you want to increase the withdrawal limits, then you can go through this procedure.

Registration on the KuCoin trading platform
Registration on the KuCoin trading platform

How to replenish a deposit?

There are several ways to fund your account on the KuCoin cryptocurrency derivatives trading platform.

Firstly, this is a standard way to replenish the cryptocurrency. To do this, you need to select from the list the cryptocurrency of which you want to replenish your account and copy the specified wallet address and use it to transfer coins.

In addition to the standard deposit method, KuCoin also has the option to deposit with a USD or EUR credit card through a partner, Simplex. 

To replenish the balance using a card, in your account you need to go to the appropriate section.

Minimum deposit amount

An important advantage of the KuCoin exchange, especially for beginners, is the absence of minimum restrictions on depositing funds. You can replenish the deposit even for $1. This is good when you want to test the platform. In this case, you can start trading on KuCoin crypto futures in the Philippines with a small deposit.

How to withdraw money?

Withdrawing funds from KuCoin is simple. In your personal account, you need to select the cryptocurrency you want to withdraw and go to the page for entering the data necessary for withdrawal.

The commission for withdrawal is set individually for each cryptocurrency, and the minimum withdrawal amount is equal to the amount of the network commission.

The transaction execution time depends on the blockchain load, but users note that the transfer usually takes 30 minutes.

KuCoin crypto futures list
KuCoin crypto futures list

KuCoin derivatives list

The exchange offers a fairly extensive list of trading instruments. On the spot market, the platform regularly adds new tokens. A fairly large selection of derivatives. The list of tools is updated regularly.

It is best to get acquainted with the current list on the exchange website.

How does KuCoin crypto derivatives trading work? 

The main trading functionality of the KuCoin exchange is located in the "Markets" menu. Here users can track the indexes of top cryptocurrencies, as well as a table with the exchange rate and transaction volumes for all currency pairs of the exchange.

You can also enter the trading platform by clicking on the “Derivatives” menu. The drop-down list will show the available types of derivatives and the different versions of the trading terminal (professional version and simplified version).

To work with trading terminals, the system will ask you to enter a trading password.

The interface of the trading terminal is designed to meet all the needs of professional traders. Here you can see a graph of price changes and market depth for different periods for the selected currency with the ability to fine-tune from TradingView, get acquainted with the latest news about the exchange, see the available balance in the context of the selected currency pair and view statistics of the latest transactions.

KuCoin platform is friendly and convenient for all types of investors
KuCoin platform is friendly and convenient for all types of investors

Also in this section, you can create and view the history of created orders for the purchase / sale of cryptocurrencies. On KuCoin crypto futures trading is quite convenient.

KuCoin cryptocurrency derivatives trading platform offers users 3 types of orders:

  • Limit - buy / sell cryptocurrency at the desired price. Upon reaching the price set in the order, the operation will be automatically executed.
  • Market is the easiest and fastest option. We buy/sell cryptocurrency at the current market rate.
  • Stop orders are complex orders, there are 2 options available on the exchange:
    1. Stop market – used to limit the loss on the exposed position. Immediately after buying/selling a cryptocurrency, a trader can place a stop market order and if the position makes a loss, it will close when the stop price is reached;
    2. Stop limit – when the asset price reaches the set stop price value, a limit order to buy or sell is immediately placed. The value of the price of a limit order may be the same or different from the value of the stop price.

On KuCoin crypto futures trading can be carried out with a maximum leverage of 1:100.

The exchange is loyal to beginners: there is no minimum deposit limit. Commissions are low. For an entry-level trader: for spot trading - 0.1%, for futures trading - 0.02% for trades behind limit orders and 0.06% for trades behind market orders.

KuCoin derivatives trading platform offers mobile App
KuCoin derivatives trading platform offers mobile App

KuCoin Help Desk

To solve problems on the exchange, there are:

  • Help center with answers to common questions.
  • Helper Bot (English and Chinese only).
  • Direct communication channel with exchange support.

You can send a support request in two modes: normal and urgent.

Many users note that in communicating with support specialists, there is a problem - the language barrier. For this reason, there is a misunderstanding between the client and the exchange operators when communicating in a language other than English. To solve a problem, sometimes you need to paraphrase your message several times or translate it into English.

But in general, the support is quite competent and able to solve all your problems on the KuCoin derivatives trading platform.

Bonuses from KuCoin 

In addition to high-quality trading functionality, the KuCoin team indulges users with various loyalty programs:

  • Referral Bonus – KuCoin offers users to receive up to 20% commission bonus for each friend's referral transaction. More on this here;
  • KuCoin Bonus - Receive payouts simply by keeping KCS tokens in your account. The minimum amount to hold is 6 KCS. The bonus is paid daily, based on the amount of KCS that is on the balance. More KCS in the account - more passive profit. For details, follow the link;
  • Bug Bounty Program - a motivational program that rewards users who identify various bugs and vulnerabilities in the KuCoin system. Caring users can get from $10 to $10,000.
Benefits of KuCoin crypto trading platform
Benefits of KuCoin crypto trading platform

Alternatives to KuCoin cryptocurrency derivatives

Now there are many different exchanges on the market. The DeFi sector is a significant competitor to centralized exchanges. Therefore, you will not have big problems with choosing an alternative trading platform.

The choice directly depends on your needs, goals, objectives and features. That is why ideal exchanges do not exist. Each user has their own goals and requirements. It is impossible to meet all requirements perfectly.

Therefore, even if someone did not like the KuCoin exchange, this does not mean that it is bad. Trading on KuCoin crypto futures in the Philippines can bring you the pleasure of the process and profit.

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The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose