The Story Of KuCoin

Kucoin’s story is quite different from those of its counterparts. For those who were in the cryptocurrency space prior to the 2017 Altcoin craze, you might recall that KuCoin just appeared out of the woodwork.

KuCoin launched hot on Binance’s heels – a month later – in September 2017 with no anticipated major launch event. Only a winning strategy.

At the time, established exchanges like Coinbase, Poloniex, Bitfinex, and Kraken did not offer investors much variety in terms of the lesser known Altcoins. A buyer interested in these would have to rely on exchanges like EtherDelta, and Liquid.io – which were not as reputable.

Kucoin’s Founder, Michael Gan, saw this opportunity and created a more trustworthy platform for Altcoins traders to buy and sell a wide range of different crypto assets. The strategy has proven successful, however, the shift from shady exchanges to KuCoin was not immediate. This was because a number of other exchanges – veterans and newcomers – had seen the same opportunity.

However, “the people’s exchange” proved itself worthy of the moniker by paying close attention to tthe user experience. Add to this the unique and very successful referral program that saw KuCoin deliberately limit their own intake of new users.

Since then, KuCoin has grown to become one of the most trusted and most used exchanges in the cryptocurrency market.

The Stand-out Features

Over the years, KuCoin has added a number of features to keep up with developments in the rest of the market. These include margin trading, passive earning through staking, and an IEO (Initial Exchange Offering) crowdfunding platform.

Here’s a closer look.

Spotlight IEO Platform

KuCoin was among the first digital assets exchanges to offer this service when the market started to move away from the ICO (initial Coin Offering) model.

This gives users a simpler and more trustworthy means of getting in on new projects before they gain momentum.

Margin Trading

KuCoin launched this service in the last quarter of 2019. It was initially launched with a margin of up to 10x. Today a KuCoin user has the option of going up to 100x leverage.

This service also plays into KuCoin’s passive earning services as users are able to lend out their assets to other users who want to leverage their trades.

OTC Trading Desk

As institutional interest in digital assets has increased, Over The Counter trading desks have become somewhat of a standard feature among the top ranked exchanges. KuCoin is no exception in this department.

A Wide Variety of Coins and Trading Pairs

KuCoin offers a more than decent selection of trading pairs to choose from. This always was – and still remains – one of it’s biggest attractions. Interesting to note, a KuCoin listing tends to be a key step towards big league adoption for new digital assets.

24/7 Support And A Relaxed KYC Policy

KuCoin’s support staff is available all the time to help with whatever issues a user may encounter. They can be  contacted by email and via the exchange’s website.

One other feature that users may find interesting is that KuCoin does not impose trading restrictions on unverified accounts as harshly as other major exchanges. For example, an unverified user is able to withdraw up to 2 BTC every 24 hours – while an unverified account might not even be able to trade on another exchange.

Security

This recently became a bit of a touchy subject, and still is for many people. On the 25 September, hackers gained access to KuCoin’s hot wallets, allowing the bad actors to get away with approximately $150 million worth of crypto.

KuCloud

Always up to speed on developments, KuCoin followed Binance’s example by creating a platform where developers can build their own exchanges using KuCoin as a blueprint.

Conclusion

Is easy to see why KuCoin is a top contender, given the variety and attention paid to user experience. As for getting hacked, KuCoin is not the first exchange to suffer a security breach. The real question is, will KuCoin survive in the aftermath of the Cyber attack.

The post Review: KuCoin appeared first on Bizznerd.

Registration and Verification on Paybis

It is easy to register on Paybis and that can be achieved in a single mouse click. You can use your Facebook or Google account to sign up for their services quickly and securely. In order to complete registration, you still need to confirm your email address.

There are different Verification tiers. Once you sign in you can still buy crypto with Bitcoin, Advanced Cash, Perfect Money and Payeer. But if you want to add more options like purchase crypto with Bank Transfer, Credit/Debit Card, Skrill you’ll need to provide additional information. There are 3 tiers of verification and each has its own daily/weekly/monthly limit depending on the payment method you would like to use.

Paybis requests customer to go through a verification process which consists of ID verification and residence address in order to prevent fraud attempts and follow AML policies. This is to protect customer funds from unauthorized usage and to prevent money laundering and cyber terrorism.

At the same time, they respect privacy promise all information you provide them is kept securely on their servers that are not connected to the public web.

Normally it takes 10-20 mins to get verified while making the first transaction if you fill in all information required correctly and you upload good quality pictures.

The level 1 verification is mandatory to use the platform. This includes providing personal information (like name, date of birth, address, ID numbers). You also need to provide a copy of your documents to them. For level 2 verification you need to provide them with a selfie of your IDs and a proof of your address. For level 3 verification they also require additional documentation for your bank account and a minimum amount of completed transaction on the platform.

Although generically speaking you are required to verify your identity when using the platform, there are some exceptions you can still buy bitcoin without verification. There are a few methods available to buy Bitcoin without verification. Amazon.com gift cards do not require verification. Additionally, the level 1 verification for Perfect Money, Advanced Cash and Payeer payment methods are granted automatically, thus you can make purchases of Bitcoin without verification up to specific amounts.

Verification limits are depending on the payment method you would like to use. For Visa/MasterCard credit/debit cards, limits are USD 20,000/50,000 per week/month. For other digital wallet payments like Advanced Cash, Perfect Money, and others, they allow up to USD/EUR 500,000 per week. With Bank Transfers EUR/USD/RUB Paybis allows up to USD 200,000 of purchases per week or equivalent in other currencies.

Paybis does not support every single country in the world. Due to local legislation, Paybis does not provide services to the residents of certain US states (New York (NY), Georgia (GA), Connecticut (CT), New Mexico (NM), Washington (WA), Hawaii (HI)) and some other countries due to international trade agreements. Make sure you check out the list of restricted countries on their website before signing up.

Features on Paybis

The most impressive feature of Paybis is the variety of payment methods they offer. You can pay with Visa and Mastercards, SEPA or bank wire transfers. But they also offer a lot of different alternative payment option, such as paying with Amazon gift cards or Skrill, Yandey, Perfect Money funds.

You can even earn extra cash through their lucrative referral program. 10% of the profit is shared after each transaction done by your referral. In addition to this, they have a multi-tier system which means you are earning commissions after those referrals which are an affiliate to your first level referral.

Fees on Paybis

Before engaging into a deal on Paybis, make sure you check the fees and commissions on their ates sheet. The fee structure is a bit complicated so make sure you take the time to understand what you are dealing with.

Each payment method comes with a different fee which is based on a % commission and sometimes a flat fee added to this. Flat fees can increase your base costs during a small number of purchases. The price of bitcoin and other cryptocurrency is depending thus on the payment method you choose. Paybis tried to be transparent as much they could be on the fees side, so you can see next to each payment method how much will that purchase cost to you after the commissions and fees are deducted. The price of Bitcoin and other cryptos are also varying depending on if you are buying or selling.

Trading on Paybis

The initial step of purchasing Bitcoin should be to create a wallet. Paybis does not store the cryptos for you, they advise you to create your own wallet to ensure maximum safety. There are a lot of wallets provide you can find on the market, any kind of wallet will be good which you have access to, so you have the 24 characters long public key.

After this, you only need to go through some simple steps in order to buy Bitcoin on Paybis. Similarly, you will go through the same steps when you are selling Bitcoin on Paybis.

1. Select Bank Transfer, Credit card or Debit card on the left-side column, depending on which one you want to use
2. Select Bitcoin (or any other crypto) you would like to purchase
3. Enter the amount you would like to buy
4. Complete the transaction

When you are selecting the payment method to choose something that is legal in your country and the fees are reasonable. There are also payment methods that are available in some countries, while in others they are not. Paybis helps you buy Bitcoin with regular money like USD, EUR, GBP using a wide range of payment methods, such as Credit and Debit cards, Bank Transfers in EUR (SEPA), Bank Transfers (USD), Advanced Cash, Payeer, Skrill, Neteller, and Perfect Money.

To complete your first purchase, input the amount of Bitcoin you are willing to purchase and enter your wallet address so you can receive your purchased Bitcoins. Make sure you provide an address here which you can access, Bitcoin transactions are irreversible, so if you have entered an incorrect address your coins could be lost forever.

Press the buy button and your newly acquired Bitcoin will be sent and stored in your digital wallet.

It usually takes a few minutes to complete a purchase and, once the amount is sent and confirmed on the blockchain, it will be visible in your wallet.

After you start a transaction to purchase a cryptocurrency on Paybis the timeframe to complete a payment is fixed for 30 minutes. During the initial 30 minutes timeframe, the amount of cryptocurrency being purchased is fixed. Once 30 minutes have passed, the price in the background will be re-calculated and show a new cryptocurrency amount. This model ensures that even under volatile market conditions client will receive the exact amount of cryptocurrency they see at the start of the transaction.

Support on Paybis

Paybis provides support services 24/7, they are proud of the response time on all platform. According to the website, the average response time to online chats is ~15 seconds, and for account verification requests is ~60 mins. They suggest you to carefully read all information provided to on the website while performing actions and in emails that you receive afterwards to remove unnecessary idle time for waiting for support responses.

The site has just been translated into 5 new languages in 2019. Now you can read the instructions and trade beyond English in Spanish, Italian, French, German and Portuguese as well. They are also planning to add new translations to the site in the coming months.

Although the site is translated, please note that live support is still provided in English, Latvian and Russian languages only.

Security on Paybis

Paybis have turned on the possibility to add ratings to their Facebook page this means anyone who has a Facebook profile can rate their service which they cannot modify. This ensures that even bad reviews stay on the page, but unfortunately also means that anyone can comment with a Facebook account, regardless if they have truly used the service. Out of 18 opinions, their service is rated at 3.8/5. There were two users complaining about their service so far. Their issue was that Paybis asked for personal documents before the transactions. On the other hand, apart from these complaints, there are no real complaints about their services, nobody reported that they got scammed using their services and their Trustpilot rating is very high as well.

Paybis does not store any cryptocurrency on behalf of you. When you purchase the coins, the cryptocurrency is transferred directly into the wallet of yours. This reduces the risk of a hacking incident where the funds of the clients would be stolen from the exchange.

They do not have a 2FA security layer, so the password protection is the only gate on the site. Paybis stores offline all client-related information, not on public servers.

Pros and Cons of Paybis

Pros

• a lot of different payment method
• purchase prices are set for 30 minutes
• Trustpilot reviews

Cons

• high commissions and fees
• some US states are not supported
• EUR bank transfers are not supported outside of the European Union

Conclusion

Paybis support buying and selling six different cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple and Neo. They offer a great variety of payment methods, including credit and debit cards, bank wire transfers but they also support gift cards and paying with alternative payment processors, like Skrill and Webmoney. They require verification for cryptocurrency purchases to comply with AML regulations, but they are trying their best to shorten the time needed for verification. The online reviews about Paybis are fairly positive about the company, the only drawback is the higher fees which are really depending on the payment method you choose.

The post Paybis Review – Buy Bitcoin with Paybis.com appeared first on Bizznerd.

Binance is an exchange that gladly accepts users from all around the globe and it has gotten reviews that are favourable from the cryptocurrency ecosystem. However, to know more about Binance, you will have to keep on reading.

All You Need To Know About Binance Exchange

Binance is a universal digital currency exchange that offers a platform for virtual currency users to trade more than a hundred Cryptocurrencies.

Since the early quarters of 2018, Binance has been considered to be the largest virtual currency exchange in the globe when it comes to down to trading volume. The founder of Binance is known as Changing Zhao

The company was established in China and steadily shifted its headquarters as well as servers out of China and landed in Japan due to the Chinese government’s ban on virtual currency trading.

However, in March 2018, the company made its announcement to open a new office at Malta when the cryptocurrency regulations in both China and Japan became stricter.

Also, in 2019, the company made known to the public about its Binance Jersey. The aim of Binance Jersey is majorly to expand the company’s European influence.

Some major companies have partnered with the biggest Cryptocurrency exchange over time and they include:

• CipherTrace
• Moeda
• IdentityMind
• CertiK, etc.

Furthermore, the exchange has counted more than three hundred and thirteen thousand users daily that are very active and, it is the biggest Bitcoin exchange in the globe just after CoinBase.

Nonetheless, with so many platforms that are currently emerging daily to put virtual currencies, it may not actually be the best alternative for retail investors this year 2019.

About The Founder

The gradual rise of Binance to successfully turn out to be the leading virtual currency exchange may seem quite incredulous to many but it is possible if you actually know its founder; Changpeng Zhao.

Basically, Changpeng Zhao once worked for the Tokyo Stock Exchange as well as Bloomberg before he went on to build one of the swiftest high-frequency trading networks known as Fusion Systems.

The exchange was launched in China back in the year 2017, however, its swift execution times have gotten the attraction of so many expert traders.

Furthermore, when China began shuttering virtual currency exchanges, Binance made the move to shift its offices down to Malta. Note that, Binance Uganda and Binance Jersey were opened to offer fiat currency to cryptocurrency trading.

How Binance Exchange Works

As a prominent company known majorly because of their virtual currency exchange, Binance has a Blockchain innovation incubator known as Binance labs, and it majorly focuses on carefully nurturing promising pre-ICO: initial coin offering projects.

The Binance labs aid deserving virtual currency project teams by offering them vital funding for advancement, advisory resources and also a launchpad for any required listing and exercises for fundraisers.

Also, the company provides a site known as a Launchpad to host new and upcoming Blockchain projects. Users are also able to establish APIs: application programming interfaces.

Additionally, with one of the quickest order execution times and research reports of institutional grade, expert cryptocurrency traders have happily found a good home on the exchange.

OTC; Over the counter trading carried out between two private parties was brought about this year, 2019 for those trades of over twenty bitcoins i.e one million USD.

As a result of the launch of DEX; Binance Decentralized Exchange, Binance exchange focuses on giving traders the choice of having the best of both worlds.

What Binance does is that it tries its best to take care of every level of investors through its provision of not just a basic but also an advanced trade setup. And, there are more than four hundred coins that they provide.

For those interested in having swift accessibility to the new coins that keep emerging, Binance is the place to get all of the hottest altcoins.

The flow of coins from their ICO debuts to all listings of altcoins on Binance makes sure that users get fast access to the ideal supply of these new coins.

For some exchanges, you will have to patiently wait for the liquidity to trade these new coins. But for Binance, you can take part in trading competitions and get to earn a lot while you help to develop liquidity in these new coins.

It’s trading fees are low and affordable for those who also make use of Binance’s cryptocurrency known as Binance Coin (BNB).

Because it is a centralized exchange, it is susceptible to breaches in its security and it has been reported that the exchange gets to fend off so much daily.

Products Offered By Binance Company

The product offered to virtual currency users and enthusiasts alike has to do with its very own Binance coin. It goes with the symbol BNB. The coin is highly prominent and has a market capitalization of over $1.4billion.

Subsequently, it is frequently used as an alternative technique for paying the fees at Binance exchange such as:

• Trading fees: for purchasing and trading coins
• Withdrawal fees
• Listing fees, etc.

Users get a fifty percent discount when making use of BNB for the first year of their account and twenty-five percent for the second year. As for the third year, it is roughly 12.5 percent and 6.25 percent for the fourth year.

Also, Binance coin tokens are utilized for Binance Launchpad as a means of investing in specific ICOs on Binance exchange.

A fact that is not widely known by most users is that Binance gets its name from a selective combination of Binary finance.

As for Binance exchange, it backs up the trading of more than forty-five coins including prominent coins such as Bitcoin, LiteCoin, and Ethereum.

Binance company has gone on to claim quality standards of security and safety with multi clustered as well as multi-tier architecture. Also, the exchange delivers very high processing throughput with its capacity to process over 1.4 million orders every second.

Another thing to note about Binance exchange is its new Binance chain and BEP2. As one of the largest virtual currency exchanges by its volume, Binance has successfully seen more than twenty-seven billion dollars through its open doors as it made headlines.

The headlines have to do with its launch of a mainnet: Binance Chain. Also, the platform executed a huge swap of its token; BNB that is off the Blockchain of Ethereum and it simultaneously launched a decentralized exchange.

Binance Chain And BEP2

This is a Blockchain platform that was created by the prominent Binance crypto exchange.

Differing from so many relatively new blockchains, the Binance Chain is not a decentralized application platform actually. Also, it does not back smart contracts.

However, it is strictly aiming at being a very effective platform for the issuance of tokens and their trade. Nonetheless, its functionality may likely be modified in the near future in a bid to support not just smart contracts but other features too.

Furthermore, its traditional asset is BNB. Meanwhile, in the broad sense of the word, it actually performs the exact same operations as ETH does on the Ethereum platform.

What this means is that it is used in paying fees for the performance of diverse actions on the system. Note that, the token standard being used by Binance Chain is known as BEP2.

Binance has described Binance Chain to be a public blockchain whose focus is to send and trade Blockchain assets and also provide new possibilities for the future flow of assets on the Blockchain.

The focus of the Binance Chain is on:

• Liquidity
• Performance, and;
• Ease of use

What you will need to know is that BEP2 is a token that is pegged to Bitcoin. Also, Binance will be issuing some Cryptocurrency pegged tokens on the Binance Chain and it will begin with BTCB.

All of the pegged tokens are a hundred percent supported by the reverse native coin which in this case is Bitcoin. Addresses on the reserve are also published for everyone to audit.

Furthermore, its Blockchain provides a much simpler way to successfully audit a Cryptocurrency reserve than the usual bank balance tether. Also, trading pair will be developed on Binance site with a price of about 0.1%.

Ultimately, this will end up providing an easy way for everybody to easily convert from the pegged token back again to the native Binance coin.

And, should the buy order be completely filled, another new order will be put in position while an equivalent amount of money will get deposited from the reserved address and into Binance.com.

The major benefit of these cryptocurrency pegged tokens is that it makes available to the Binance DEX traders the surplus coins that practically have their very own blockchains and are not native on the Binance Chain.

Due to the increase in the token section that is available in Binance DEX, there will be a rise in both liquidity and trading volume. It will increase the utility value further of Binance DEX.

Is Binance A Safe Exchange?

The question on most people’s minds pertains to the fact of whether Binance exchange is safe or not. Basically, as a virtual currency exchange platform, Binance provides hot wallet facilities for storage.

As a safety measure, Binance makes use of highly advanced security protocols to safely guard the platform and transfer alerts in case of any form of breach.

Also, users have the chance to secure all of their funds with the Google authenticator; two-factor authentication.

Binance has experienced some setbacks like:

Attempts of hacking

Back in March 2018, there was a hacking attempt on its platform, though it did not turn out to be successful because the automated systems on its site quickly reacted on time.

Moreover, the malicious cybercriminals were making use of a phishing site in a bid to gather logins and discretely set up API accessibility to accounts that have been targeted.

On the day it happened, these cybercriminals converted all the available altcoins in their target’s accounts to Bitcoin and purchased ViaCoin thereby pumping up the price in a considerable way.

Next, they did was to sell off the ViaCoin at the best price point and made moves to withdraw Bitcoin to their own wallets.

Nonetheless, it did not work out since they were immediately caught as it was occurring and all of their funds were donated straight to charity.

The hack of May 2019

Recently within the year, hackers successfully managed to siphon over seven thousand bitcoins that were worth a total of forty million dollars from the Binance exchange.

In reactions to the hack, the founder made it known that the exchange will be responsible for covering every loss of its users from its SAFU; Secure Asset Fund for users.

However, the hacking incident did not turn out to be permanent harm to the credibility of Binance exchange.

Nonetheless, users are advised not to keep their virtual currencies on exchange’s hot wallets because all of these make them susceptible to attacks when compared to the cold storage facilities.

Advantages And Disadvantages Of Binance

Some of the pros of Binance are:

• The process of opening an account on the site is quick
• It entails low fees
• It has hundreds of virtual currency pairs
• Binance actively secures multi-currency wallets
• It has good liquidity

For its cons, they include:

• Its trade partners are actually not validated under two Bitcoin
• It has restricted deposit options
• There is no fiat to cryptocurrency trading on its main exchange.

To Wrap It Up

Binance is known for its low trading fees in all markets available in the world today. It has an ideal variety of virtual assets to actually trade, there are varied trading alternatives for newbies and professionals plus a friendly interface.

All of these reasons make it the favourite to most of the Cryptocurrency users in the crypto sphere.

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