The rise of decentralized finance has brought a revolution in the financial market, we are now witnessing the end days of centralized finance, and soon it would not be surprising that banks would become irrelevant if they don’t embrace the change, this is credited to the emergence of cryptocurrency and crypto marketplace like KuCoin.
KuCoin is a crypto trading platform that was launched in 2017. Since then, the number of users of the platform has skyrocketed since its launch. The platform has more than 18 million followers; it is said that 1 in 4th of the crypto trader uses it KuCoin; you might be thinking, what is the reason behind such an extensive consumer base, but we have several reasons that justify this number.
KuCoin is primarily a P2P crypto exchange platform. If you don’t know what P2P is, then don’t worry; we will explain it to you; a P2P marketplace is where buyer and seller meet each other with the intent to exchange some item, P2P crypto marketplace is where the crypto assets are exchanged for money this has additional advantages then centralized traditional market some of them are stated below.
Lower Trading Charges
First, a P2P marketplace has no intermediaries. This reduces the cost of the trade/exchange. When there is no third party in between, no additional fees could be charged. This makes the trading inexpensive, and traders keep all their profits.
Secondly, in a P2P, the exchange doesn’t have intermediaries. You know this pace up the trading activities and makes the operation smooth and more efficient, with no hassle to traders.
In KuCoins’s P2P marketplace, once the seller places the order, the platform freezes the seller account in which the crypto fund are present. Once the seller confirms that the buyer has made the payment, the crypto is transferred to the buyer. This eliminates the chances of fraud.
In most marketplaces, crypto assets exchange occurs considering the market prices. In the P2P market, the seller has full authority over the price he wants to sell crypto. This increase the seller’s sovereignty.
The KuCoin platform has a broad consumer base which gives it high liquidity. This means that many buyers and sellers are available for trading and more opportunity to earn profits.
In Kucoin’s marketplace, reliability is ensured. The merchants who want to start a P2P trading activity have to go through a strict process of both verifications and confirm eligibility to the platform. This is mainly done because KuCoin doesn’t compromise its reputation and user security.
As other marketplaces are rigid about the payment methods and fund transfer when you buy crypto, a P2P market offers the most flexible payment. The buyers and sellers could easily discuss the payment method. You can make payments, and crypto will be in your digital wallet.
We have a list of things that we could have discussed, such as a wide variety of altcoin exchange by KuCoin and stable coins like USDT price, but that could be done some other time as for now, the above mentions benefits have won the hearts of millions of traders, and they are loyal to KuCoin for providing such astonishing services.