Johnny Lyu established the KuCoin exchange in 2017, and with time it prospered. And now, approximately 200 million people are registered with this outstanding crypto exchange. So what makes KuCoin distinctive? Well, the great projects KuCoin has launched or their upcoming projects are rated as being the best Exchange by Forbes Advisor contribute KuCoin to being the best. Furthermore, users can earn passively, getting big rewards on small investments or minimal trading fees. The vast range of coins it offers and supports various trade pairings, such as ETH/USDT, ACT/ETH, DOT/UST, USDC/UST, and many contribute to KuCoin being the best Exchange.
A Question Arises About The Factors To Consider Before Investing And The Prices
As one knows, cryptocurrencies’ prices and valuations have exploded in the last decade. And as an early user of Bitcoin would have attained tremendous returns since its launch in 2009. Before moving ahead, let’s first talk about Bitcoin. Bitcoin is the world’s first cryptocurrency designed to operate decentralized over a blockchain. Moreover, the decentralized design of the blockchain makes digital transfers of payments faster. If we talk about the BitCoin mining pool, it is the process of creating new Bitcoins. In it, users solve complex mathematical puzzles using computers. Bitcoin miners solve the puzzles to verify transactions, mint new BTC and increase its circulating supply.
Coming back to the question, with so many ranges of coins to trade in? One of the ways is to look at the price chart by different exchanges and compare the prices. Along with exchanges, data aggregators, which display a list of new coins, their prices, market capacity, and trading volume, help determine the coins before investing. Apart from Exchange and data aggregators, social media, one of the fastest mediums to communicate or gain knowledge these days, also aids in determining before trading. Through social media, the user can get all the information regarding the coin’s history, price, and many more with just a click and notify the user. Another way is using cryptocurrency tools like PooCoinCharts and TokenSniffer to provide in-depth looks at coins that can help in deciding whether a currency is valid or not and whether to invest in that particular coin.
Furthermore, Defi platforms also aid the users in deciding about investing. Defi forums also have native tokens used within their networks to facilitate transactions.
One vital thing to ponder is whether the coin the user wants to invest in is liquidity. A cryptocurrency needs liquidity, meaning the currency should have enough trading volume. It will be wrong to invest in a cryptocurrency with no volume; if the user wants to, he waits to see whether it will develop any. If no one is investing in the particular crypto coin in large amounts, it might indicate that it isn’t yet worth buying or is a fraud.
As a quote goes, “fraud and deceit are anxious for your money. Be informed and prudent,” so the user must thoroughly research the prices, future ahead, profits, and all before investing in it. And as mentioned earlier, the users can get all this information from the best Exchange, KuCoin.