KuCoin is built for all types of investors. Whether you are a beginner or an advanced trader, it's always easy to start your crypto journey here. This article will guide you through the process of making your first trade on KuCoin.
Watch the YouTube video below for a step-by-step guide or continue reading this article to learn how to make a trade on KuCoin.
Contents
1. How to Make a Trade on KuCoin
2. Understanding Different Trade Orders
1. How to Make a Trade on KuCoin
1. Go to KuCoin.com, click on the Trade tab, then click Spot Trading.
2. Find the trading pair you want to trade. KuCoin offers a variety of markets such as Stable Coins (USDⓈ), Bitcoin (BTC), KuCoin Token (KCS), and a variety of Altcoins (ETH, TRX, and more).
For instance, if you want to buy KCS with BTC, click on the KCS/BTC pair.
3. Enter your 6-digit Trading Password to start placing an order. For security reasons, you will be asked to provide the trading password once every 2 hours.
4. Choose the order type, enter your order details such as price and amount, then click the Buy or Sell button.
KuCoin supports the Limit, Market, Stop Limit, and Stop Market order types. This article will elaborate on each order type later.
5. Once the order has been placed, it can be found in the Open Orders section. Once filled, the order will be moved to the Order History and Trade History sections.
2. Understanding Different Trade Orders
1. Limit Order
- Definition: A Limit Order is an order placed to buy or sell at a specified limit price.
- Example: If the current market price for KCS is 0.96289 USDT and you plan to buy 100 KCS when the price drops to 0.95 USDT, you can place a Limit Order.
- Instructions: Select Limit Order, enter 0.95 USDT in the price box, and enter 100 KCS in the amount box. Click Buy KCS to place the order.
2. Market Order
- Definition: A Market Order is an order placed to buy or sell at the best available price in the current market.
- Example: If the current market price for KCS is 0.96263 USDT and you plan to buy KCS worth 1,000 USDT immediately, you can place a market order.
- Instructions: Select Market Order, enter 1000 USDT in the amount box, then click Buy KCS to place the order. The order will typically be filled in seconds.
3. Stop Limit Order
- Definition: A Stop Limit Order is an order placed to buy or sell at a limit price when the price reaches the configured trigger price.
- Example: If the current market price of KCS is 0.9629 USDT and you assume the stop price will reach 1.0666 USDT and will not continue to rise when it breaks through, you can sell when the price reaches 1.065 USDT.
- Instructions: Select Stop Limit Order, enter 1.0666 USDT in the stop price box, 1.065 USDT in the price box, and 100 KCS in the amount box, then click Sell to place the order. When the latest price reaches 1.0666 USDT, the order will be triggered, and the100 KCS order will be placed at a price of 1.065 USDT.
4. Stop Market Order
- Definition: A Stop Market Order is an order placed to buy or sell at the current price when the price reaches the configured trigger price.
- Example: If the current market price of KCS is 0.96285 USDT and you assume the stop price will reach 1.0666 USDT and will not continue to rise when it breaks through, then you can sell when the price reaches the support price.
- Instructions: Select Stop Market Order, enter 1.0666 USDT in the stop price box, and 100 KCS in the amount box, then click Sell KCS to place the order. When the latest price reaches 1.0666 USDT, this order will be triggered and the 100 KCS order will be placed at the best market price.
Tips:
- The Market Order is matched by the best available price in the current market. Considering price fluctuations, the filled price can be higher or lower than the current price, depending on the market depth.
- KuCoin upgraded the Stop Order function on October 28, 2020. After the upgrade, the system will no longer pre-freeze the assets in your account for the Stop Order until it has been triggered.
3. FAQ
1. What are KuCoin’s trading fees?
The KuCoin spot trading fee starts at 0.1%. You can lower your trading fee by holding KCS or increasing your trading volume. For more details, refer to the KuCoin Fee Level page.
2. What is the minimum amount for each trade?
The minimum amount varies depending on the coin and can be found on the trade page.
3. What is Pay Fee with KCS?
On KuCoin, you can enable Pay Fee with KCS to enjoy 20% off trading fees.
▶ For more info, refer to Use KCS to Pay Trading Fees and Enjoy 20% Off
4. Why was my Stop Order canceled?
The reason can vary. The order may have been canceled due to insufficient funds or exceeding the KuCoin Price Protection Limit.
▶ For more info, refer to Why Stop Orders are Canceled
We hope this article has been helpful. If you have any other questions, please reach out to our 24/7 customer support via online chat or submit a ticket.
Happy trading on KuCoin!
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