![]() In June, 2021, the Ontario Securities Commission stated that Kucoin was illegally offering its residents securities and derivatives trading, but Kucoin did not respond to this. You can use it at full capacity whether it’s a simple buy order at market price or a more advanced order type. Regulatory Complianceīinance has no restrictions for Canadians, except for Ontario residents. You can, however, set up Google Authenticator for two-factor authentication. There is very little information on Kucoin’s website regarding its security measures, so trade with care. If you have funds on the exchange, it’s best to move them to a private crypto wallet. Later, $200 million of the stolen funds was recovered. In 2020, $275 million worth of crypto was stolen from Kucoin by North Korean hackers. Whitelisting helps prevent your funds from being transferred to an address you don’t recognize. Both exchanges offer two-factor authentication, so you can prevent unauthorized access to your account.īinance also offers crypto address whitelisting, which means you can select which addresses can withdraw your cryptocurrency. If you have funds on the exchange, it’s best to move them to a private crypto wallet.īoth Binance and Kucoin offer world-class security meaning your coins are in relatively safe hands. ![]() Keep in mind, $275 million worth of crypto was stolen from Kucoin by North Korean hackers in 2020. It has two-factor authentication, so you can prevent unauthorized access to your account. Kucoin provides world-class security meaning your coins are in relatively safe hands. However, because Binance holds most of its digital assets in cold storage, the hackers only got away with what was in the hot wallet – about 2% of Binance’s Bitcoin holdings at the time.Īs long as you take precautions, and transfer your crypto off the exchange to an external cryptocurrency wallet, you should be safe. ![]() The hackers used phishing and viruses to gain access to the exchange. Back in 2019, hackers stole 7,000 Bitcoin along with customers’ 2FA codes and API tokens. Keep in mind, Binance has been hacked before. It offers two-factor authentication, so you can prevent unauthorized access to your account. From there though, you will need to navigate to the spot trading page and select the trading pair you want.īinance offers world-class security meaning your coins are in relatively safe hands. Simply sign up with an email and you can buy crypto in seconds using your credit or debit card under the Fast trade option. Buying USDT is easy since you do not need to verify your account. There are lots of features, tabs, and menus. Kucoin’s app is a bit more simple than its desktop exchange but it’s still confusing for beginners. Many people complain that the app crashes or that there are certain features lacking such as the ability to filter order history by trading pair. The Kucoin app has a 3.7-star rating from over 2,000 reviews on the Apple App Store and a 2.7-star rating from over 12,000 reviews on Google Play. USDT/BTC and then choose your order type e.g. Once you have your USDT, then you can trade it on the Kucoin exchange under “spot trading”. Here, you can purchase USDT using your credit or debit card or via the P2P exchange, or via a third party transfer. To buy USDT quickly, go up to the top menu and select the “Fast Buy” option. There are advanced charting and order types available, plus you can trade on margin and trade futures contracts if you wish. The Kucoin exchange can be quite confusing for beginners. You’ll need to first purchase Tether USDT on Kucoin and then trade that for the crypto you want. There are no fiat to crypto pairs, so you cannot buy bitcoin or other crypto directly with your dollars. Kucoin does, however, accept credit and debit card payments, but you’ll need to check if your Canadian bank allows crypto transactions. You’ll have to go through a third-party such as Banxa to deposit fiat. You won’t be able to deposit Canadian dollars directly. Kucoin is slightly different than your average crypto exchange. On its desktop platform, you can select “Convert” for a quick debit or credit purchase, or “Classic” or “Advanced” for more trading types. Binance offers its users multiple ways to purchase crypto depending on the type of trade you want. On Google Play, it has 4.5 stars with 271,000 ratings.īinance’s app allows its users to switch between the Lite and Pro interfaces making it suitable for both beginners and experienced traders.īinance’s app interface also closely resembles its desktop counterpart, though, at first glance, it does not seem as user-friendly and intuitive as Coinbase. Binance has a rating of 4.6 stars on the Apple App Store with 22,000 ratings.
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