KuCoin looks to the future – Despite a security incident on September 25, the KuCoin platform quickly got back on its feet. In addition to gradually reactivating its services to become fully operational again, KuCoin continues to evolve and diversify its offer.
This article is promotional content written for Immediate Edge.
Security problem: ancient history
Although hackers managed to embezzle the equivalent of $ 281 million in cryptocurrency at the end of September, KuCoin appears to have fully recovered from its injuries.
Over $ 204 million of its crypto-assets have been saved and recovered . In addition, the platform has maintained a constant effort to bring its services back online, in particular access to withdrawals .
The vast majority of cryptocurrencies on KuCoin are thus fully available , with in particular the return of withdrawals on Cosmos (ATOM), Chainlink (LINK), PIVX or Ethereum Classic (ETC) projects over the past few days.
The availability of Bitcoin (BTC), Ethereum (ETH) and other major altcoins had already been reactivated, as early as the first two weeks after the security incident.
Application update and new trading options
KuCoin is therefore going ahead and announcing several new features . One of the latest is the 3.20.1 update of its mobile application (compatible on Android and iOS).
This improvement brings in particular the option of conversion into KCS (KuCoin Shares), which allows you to quickly convert the small “dust” of cryptos from your account into the native token of the platform. These allow, among other things, to reduce trading costs.
In addition, the application now facilitates the rapid transfer of its crypto between the different interfaces KuCoin: spot trading, staking (with service Pool-X ), margin trading and futures contracts ( futures ), …
Futures trading is also experiencing a mini revolution. KuCoin has just added Litecoin (LTC), Cardano (ADA), and XRP projects to its offering. It will thus be possible to trade these futures against the USDT stablecoin, with leverage ranging from x1 to x50 .
Be careful, however, it is always good to remember that the use of leverage should be used in moderation. Too large a multiplier can mean express liquidation.