KuCoin platform features .. Is it approved in the Kingdom?

What is the KuCoin platform?

The KuCoin platform is a well-known name in the cryptocurrency industry and is considered one of the most prominent electronic stores for all types of cryptocurrency operations.

This platform was launched in August 2017, and it includes more than 200 cryptocurrencies and more than 400 markets for trading, and one of its most important features is that it has an easy interface for beginners.

KuCoin platform features

The KuCoin platform is one of the platforms that has developed and grown and is now one of the largest global exchanges for cryptocurrencies, as it is one of the most important and prominent platforms around the world and has second place in the ranking among four exchanges around the world. Services including futures trading, forex, contracts, margin trading, passive income services such as staking, lending, peer-to-peer (P2P) marketplace, IEO launchpad for cryptocurrency crowdfunding, non-custodial trading, and many other services, including: 

• Through the KuCoin platform, anyone can buy more than two hundred cryptocurrencies by paying low fees, not only in one country but all over the world. In 2021, the KuCoin platform was evaluated as one of the best cryptocurrency exchanges, and the platform supports a large variety of assets Crypto gives discounts and bonuses and charges a fee of only 0.1% for every transaction made and charges very small fee when trading futures contracts.
• The platform also features that it is possible to buy cryptocurrencies with the highest yield of fiat currencies, including the euro, US dollar, British pound, Chinese yuan, Canadian dollar, Australian dollar, and many international currencies. Its P2P direct debit via Simplex, Banxa, PayMIR, or Express Buy service, which facilitates IDR, VND, and CNY purchases of Bitcoin (BTC) or Tether (USDT).
• It also has the advantage of being the only platform with excellent customer support that can be contacted 24 hours a day, 7 days a week, via its website , email, ticket system, and some of its other channels.
• The KuCoin platform also secures and protects assets at the bank level and uses a variety of security methods and procedures including micro-cash wallets that are specific to your smartphone, multi-layer encryption on dynamic authentication, an industry-wide multi-factor, and dedicated internal risk control departments that oversee data operations. daily by strict safety standards.
• The KuCoin platform allows you to trade margin and futures contracts, contracts can be short or long term, and they are contracts for cryptocurrency with a leverage of up to 100 times!
• The KuCoin platform allows storing and lending cryptocurrency, earning cryptocurrency by doing so, getting KuCoin’s KuCoin Shares (KCS) rewards, and giving courses to run how-to coins to generate revenue.
• The KuCoin platform is characterized as one of the easiest cryptocurrency exchanges, friendly for beginners in trading, very easy to use, excellent design, and a powerful trading platform.
• Trading can easily be done dishonestly and in case you are interested in ramping up your crypto security the KuCoin platform also supports the ability to trade unprotected directly from your own wallet which can be run directly from the phone and facilitated by Arwen.

In short, the KuCoin platform is an easy-to-use exchange for currency investors, with a large number of users, high liquidity, a wide range of supported assets and services, very simple transaction fees, and no KYC checks on all its users, which is a valuable feature for interested individuals with privacy.

Is Cocoon approved in Saudi Arabia?

The Standing Committee for Awareness and Warning confirmed that trading in securities in the foreign exchange market (forex) is not licensed and that it is not necessary to invest or deal in digital and virtual currencies, what is known as (Virtual Currencies), and that there are various negative consequences in those transactions and the consequences for dealers and high risks Being outside the scope of the supervisory umbrella within the Kingdom of Saudi Arabia.

The committee confirmed that these virtual currencies, such as Bitcoin, are not considered among the currencies approved in the Kingdom of Saudi Arabia, and some sites claim to be licensed by the Kingdom of Saudi Arabia, but this is not true. These sites do it for the sake of confidence and accuracy, but this is a mistake.

Best Cryptocurrency Trading Platforms in Saudi Arabia

There are cryptocurrency platforms in the Kingdom of Saudi Arabia and inside the Kingdom. People are divided into two halves, some of them confirm that the currencies are correct and can be dealt with, and some do not believe it, but some say that the best that can happen is cryptocurrency during the next ten years, and one of the best platforms in Kingdom Saudi Arabia:

• EXMO platform

The EXMO platform is a global exchange platform with a very large number of currencies, and the most important features of this platform are:

1. This platform was released in 2011 and no one has given any negative opinions about it.
2. The headquarters of the platform is located in Hong Kong.
3. The fees charged for transactions within the platform range from 0.02% to 0.2%.
4. The platform has more than 145 currencies.
5. The value of daily trades that take place is up to one billion US dollars per day.

• Bittrex platform

Bittrex is one of the best cryptocurrency trading platforms, and its most important features are:

• This platform holds more than 190 different digital currencies.
• Bittrex is headquartered in the USA.
• The value of the fees that are added when transactions are made up of about 0.25% of the transaction value.
• The platform allows the design of algorithms with the outputs and inputs of trading operations by the traders.

• cex. platform

The cex platform is considered one of the most important digital currency trading platforms in Saudi Arabia 2020, and its most important features are:

• The platform was established in 2013, which means that it is one of the old platforms.
• The platform is based in London.
• It allows the trading of digital and traditional currencies as well.
• The platform assists and contributes to professional people to avoid making mistakes.

• Yobit platform

This platform is also one of the best trading platforms in the Kingdom of Saudi Arabia, and its most important features are:

1. The platform supports operations made in US dollars in withdrawals and deposits.
2. This platform does not charge any fees when providing services that you provide unless the transaction is completed in full.
3. It is characterized by being easy to service and procedures. [3]