How to Buy KuCoin in the UK

A Beginner’s Guide to Buying and Selling KuCoin Cryptocurrency in the UK

Last Updated July 23rd 2021
5 Min Read

If you’re based in the UK and wish to buy KuCoin – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many KuCoin tokens you want to buy.

KuCoin stands among the most popular Bitcoin exchanges in the market today, recording a high investor rate. The attraction towards this coin is that it is both advanced and secure for when buying and selling is concerned. Generally, KuCoin features among the lowest exchanges in matters trading fees, competing against the more common cryptocurrencies like Binance, Bitcoin, Bitcoin Cash, and Ethereum.  

Investors looking to venture into the cryptocurrency market must first carry out their due diligence to determine the intricacies of this investment space. They should seek the guidance of people who have enough knowledge and expertise concerning this sector. Once they start investing and trading, they are ready for any eventualities, good and bad alike.  

The following guide takes you through the whole process of buying, storing and selling KuCoin, using the simplest of terms to ensure that you do it the right way. The guide has been simplified to make it easy even for first-time investors to understand. 

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY KUCOIN IN THE UK
  2. A Step-by-step Guide to Buying KuCoin in The UK
  3. How to Sell KuCoin
  4. Which Wallets Can I Use to Hold KuCoin?
  5. How KuCoin Works
  6. Key Things to Consider Before Buying KuCoin in the UK
  7. Conclusion

QUICK GUIDE: HOW TO BUY KUCOIN IN THE UK

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select KuCoin
  5. Enter how many KuCoin tokens you want to buy
  6. Check the details and confirm your purchase

A Step-by-step Guide to Buying KuCoin in The UK

Follow the following guide to start buying KuCoin tokens:

Step 1: Register the account

First, you must register for the exchange account of your choosing. An exchange account provides an easy and safe platform for buying KuCoin. The UK features several exchange accounts, an attribute that compels you to research and find out the specific account that will work best with your intended transactions. In this case, you must go for an account that supports KuCoin and GBP.  

Having chosen the account that works best for your needs, you now have to sign up using your details. The process of account registration is very easy, not requiring any technical training or experience whatsoever. Among the details that will be required, you include your official name, phone number, and your email address. 

The cryptocurrency sector has many regulations governing its operations, including the Know-Your-Customer (KYC) rules, which require verifying your identity and proving your address. Identity verification is done using a government-issued ID card. At the same time, proof of address can be facilitated using a utility bill. Lastly, ensure that the account is safe from unauthorized access by setting up a multi-factor authentication process. 

Step 2: Fund the account

Once your account is registered, you are ready to add funds to the account. For the UK case, Funding the account entails adding or depositing funds in GBP currency into the account. In doing so, you can purchase the KuCoin tokens using fiat currency. 

Suppose the exchange does not support using GBP or fiat currency to buy the KuCoin tokens. The other option is to trade in other cryptocurrencies like Ethereum, Bitcoin, Bitcoin Cash, etc. Depending on the exchange account you are using, the currency you intend to use for the transaction will be listed against the one you wish to buy (KuCoin). For instance, BTC/KCS or ETH/KCS for Bitcoin and Ethereum coins, respectively. 

Step 3: Buy KuCoin

With funds now existing in the exchange account, you are ready to purchase the KuCoin tokens. Depending on the number of coins you intend to buy, make a point of specifying on the exchange. To do so, go to the buying section of the account and specify the amount of GBP or cryptocurrency you wish to trade in exchange for the KuCoin and finally confirm that you wish to proceed with the order. At this point, there will be a notification sent to your email for confirmation before the tokens are finally available on your exchange. 

You can either buy the KuCoin through a market order or a limit order. Market orders let you buy the tokens at the prevailing rates, in which case the transaction is completed automatically. For the case of the limit order, you have to specify the exact price you want to buy the tokens and then wait. The moment the rates reach your specified threshold, the transaction is completed automatically. 

Step 4: Store in a crypto wallet

Once you have bought the KuCoin tokens, you have to find a safe place for storage purposes. Cryptocurrencies are normally stored in cold or hot wallets, platforms offering safe but different storage qualities. 

Hot wallets store your tokens online, giving you the chance to retrieve the tokens upon the need for transaction purposes quickly. On the other hand, cold wallets store the tokens offline, using external hardware such as a USB drive. When using cold wallets, you can store the tokens for a long time. Other than online/offline descriptions, the main difference between the two wallets is the level of security achieved. Cold wallets are not susceptible to internet attackers like hackers. 

How to Sell KuCoin

Selling KuCoin tokens is easy, requiring that you move them from the wallet into the exchange account. From here, go to the sell section on the account and specify the amount of KuCoin tokens you wish to sell. You can either sell the KuCoin tokens for GBP or other cryptocurrencies. For instance, KCS/BTC or KCS/ETH for Bitcoin and Ethereum coins, respectively.

Which Wallets Can I Use to Hold KuCoin?

You can use either user hot or cold wallets to hold your KuCoin after purchase. Cold wallets are for the traders who prefer holding the tokens for a long time before selling them or using them for trade. This form of wallet is on external hardware such as a USB drive. 

Hot wallets are ideal for frequent traders and are online in platforms such as apps, and allow for easy and fast retrieval whenever you want to make a transaction. 

How KuCoin Works

KuCoin tokens work in the same way as other cryptocurrencies. The coin is based on the blockchain network and is therefore possible for anonymous buying and selling. Contrary to other traditional finance, blockchain removes the need for intermediaries, ensuring that the transaction is fast and cheap.  

Key Things to Consider Before Buying KuCoin in the UK

Among the key things to consider before buying KuCoin include:

Availability

Highly available tokens hold more value because they are easy to sell or buy. 

History

The history of a coin can tell you a lot about its expected performance in the days or months to come.

Conclusion 

KuCoin has gained significant popularity over the years, offering traders and investors a chance to diversify their portfolio. The above description helps you buy, sell and store your KuCoin tokens. However, prospective and existing investors must always research and consult with industry experts for safe and successful investments. 

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