Learn how to use KuCoin! Here is our step-by-step guide through the basics of setting up an account, depositing cryptocurrency and making your first trade on KuCoin.
Table of Contents
How to sign up on KuCoin?
Select your correct country number, +31 for the Netherlands, +32 for Belgium. Enter your cell phone number without starting with 0, on the sign up page. An SMS verification code will be sent to the entered number.
Click on ‘Send code’ and enter it in the required field ‘Phone Verification Code’. Note that this code is only valid for a short time. When the code expires you can always send a new one.
Finally, enter a (strong) password that will grant you access to your account. Check the box to agree to ‘terms and conditions‘ and click on ‘Sign Up’.
On the next screen, you get the choice of whether you want to buy cryptocurrency or deposit some into your account.
We will assume that you are starting out and therefore want to buy cryptocurrency. If so, click on ‘Buy Crypto’.
First, enter the currency you would like to pay with and enter the exact amount. Then choose which coin you want to buy.
You can choose out of a a wide selection of crypto, but if the one you want does not appear, fear not! It does not necessarily mean it is not available.
There is only a limited number of coins available for direct fiat sale.
Other lesser known coins can be easily traded, provided that KuCoin offers them ofcourse.
Next choose the desired payment method and the payment channel.
In the example below we choose an SEPA bank transfer. It’s not possible to pay with iDEAL, this used to be an option but was removed. They work together with other provides where you make your purchase.
This payment service then sends your purchase directly to your KuCoin account. By clicking ‘Confirm’ you will be redirected to the third party to complete your purchase.
On the next screen, fill in your e-mail address and check the BTC terms and conditions for agreement.
The message ‘Verify Email’ will appear, go to your mailbox and click on the link in the e-mail you received from KuCoin, to verify.
In the next screen fill in your nationality, first – and last name as well as your preferred password.
Next, enter your phone number, these and the following identification steps are necessary because trading platforms, including BTC Direct, must comply with the laws and regulations concerning KYC client registration. Click on ‘Continue’, you will now receive a code via your phone which you will need to enter on the next screen.
Click on ‘Continue’, you will now receive a code via your phone which you will need to enter on the next screen
In this screen you will see three different options to verify your personal data, this can be done by uploading your ID card, passport or driver’s license. Choose the desired document you want to upload for verification. In the next screen click on the icon to upload the document. Find the right file here and attach it. Please note that this must be a photo file (JPEG) of the front of your identification document. Note that a pdf or scan will not be accepted.
After adding the file, click ‘Next step’ to continue. At this next step, they require you to upload a selfie with your identification document in your hand. This way they can compare the photo to the one on your document you just uploaded. Repeat the steps as you did for uploading your identification documents as shown in the example. After uploading click on ‘Next step’.
Finally, they want to ask you a few more questions, such as the reason why you want to buy cryptocurrency as well as where the money you are using is coming from. Click ‘Continue’ twice to complete these steps. BTC direct will then immediately check your documents, which generally takes no more than 15 minutes. You will receive an update by email.
How do I secure my KuCoin account?
KuCoin has a wide range of security measures in place to keep their users’ accounts as safe as possible. If you have just created an account it is wise to secure it immediately with the following options. Some of the security options include:
- Phone security
- Email security
- Google authentication (2FA)
- Trading password, (Needs to be entered before you can trade)
- Withdraw password (Needs to be entered to withdrawing)
To set up these security options, go to your account in the top right bar to your account details and click on ‘Account Security’.
In the example above, you can see that almost all options are set, these can be changed at any time by right clicking ‘Change’. In case you have not done this yet there is ‘Set’ where you can click on to set the security of your choice. In most cases this speaks for itself and you enter a pincode or password.
In case you want to set up a Google authentication or 2FA and you are not familiar with this, I recommend you take a look at our extensive 2FA tutorial. A 2FA code is a must have as account security since you make it very difficult for hackers to get into your account.
How to deposit cryptocurrencies on KuCoin?
If you want to trade with cryptocurrency on KuCoin you will need crypto for that. You can buy this via KuCoin but it is also possible to transfer it to your KuCoin account from, for example, a private wallet. To do this, go to ‘Assets’ in the top right of your account bar and click on ‘Main Account (Deposits & Withdraw)’.
Here you will see the overview of the cryptocurrency you have in your main account but also all other crypto that KuCoin offers. Here you can send crypto to (Deposit), withdraw (Withdraw) or send it to your trading account to trade (Transfer).
Click ‘Deposit’ to send XRP to your account wallet address in this case. You will enter the deposit screen where you can choose whether to send the XRP to your trading account or your main account.
When sending XRP you will be warned that you must add a tag to the transaction so your XRP will not be lost. Check that you are aware of the risk and click ‘Continue’.
Your receiving address and tag will appear, you can copy and paste these when sending the XRP from the wallet or exchange you are sending them from to send them to your KuCoin address. Don’t forget to include the address and Tag with the transaction.
How to trade cryptocurrencies on KuCoin?
First, make sure you are logged into your KuCoin trading account. Then, go to the top left corner of the screen to ‘Markets’ and click on ‘Spot trading’. To choose the market and the particular crypto you want to trade with, click on the BTC/USDT market in the top left corner and the menu where you can choose the various trading markets will appear. Here you will see in the left column the markets and on the right the trading pairs you can choose from. You can also use the magnifying glass at the top to search.
When you have chosen the market and crypto you want to trade you can place the buy or sell order in this screen. You’ll see the bottom right panel where you can enter orders.
We’ll take the XRP/KCS market as an example.
On the left you can enter a buy order to buy XRP with KCS. And on the right you can enter a sell order to sell XRP for KCS. Choosing a Limit order or a Market order makes quite a difference.
You make a choice depending on what your desire is. With a limit order you can indicate a desired buy or sell price, when the price reaches this point the order will be executed.
With a market order, the order will be executed at the current (market) price. Fill in how much KCS you want to sell for XRP or click a certain percentage and click ‘Buy XRP’. Your order is executed and you have bought XRP for your KCS. With a sell order it works the other way around, here you indicate how much XRP you want to sell and you will receive KCS in return.
