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Index price: The weighted price tracked from the spot prices of 6 exchanges. Would that person pay 4 hours of interest? KuCoin Tax Reporting. It only affects the liquidation price and unrealised PNL. Along with the new KCS/USDT margin pair, KuCoin will launch an ultra-low interest borrowing activity from December 19 to 23, 2019. What is Kucoin Lending? Liquidation: To keep the positions open, traders are required to hold a percentage of the value of their position, i.e., the Maintenance Margin percentage. Of course, like any “too good to be true” investment, there’s a catch The most common scenario is that whoever takes the loan out is doing it for a quick trade when they have money tied up elsewhere and cant do anything. Connect your account by importing your data through the method discussed below. Overall, KuCoin is an established cryptocurrency exchange that offers multiple cryptocurrencies for online trading via the KuCoin trading platform. Press question mark to learn the rest of the keyboard shortcuts. KuCoin Crypto Lending is a peer-to-peer lending platform where users can lend their idle crypto assets to obtain stable income. KuCoin is the most advanced and secure cryptocurrency exchange to buy and sell Bitcoin, Ethereum, Litecoin, TRON, USDT, NEO, XRP, KCS, and more. KuCoin Shares (KCS) Explained KCS are the native token of the exchange and offer users plenty of rewards for those who hold and stake the asset. yes its lends everything in the account except the reserve( which you set), HOw it works? KuCoin Automatic Lending Function Upgrade in Margin 16 Mar 21 KuCoin. As pointed out a few times in this KuCoin wallet review, KuCoin is actually primarily an exchange platform. This article will help the beginners of Futures trading to know about the related introductory knowledge and to start the trading journey smoothly. (APP Version). It probably won’t be enough to pay taxes on it. KuCoin Margin Trade supports customers to lend limited cryptocurrency to other customers for Funding markets and to charge interest. These include: KuCoin Lend. KYC users in restricted countries and regions cannot open Futures trading; Users with IP addresses in restricted countries and regions cannot open Futures trading; Users in our blacklist cannot open Futures trading. You can actually contact our live support for that as they could help you with explaining things further 5. You can click here to know more details about the Index price. What this means is that you will be able to trade cryptocurrencies from the comfort of your wallet . You can see this I believe in the settlements section where it shows how much you earned and then the actual repayments which has the 15% cut taken out. Kucoin Exchange is a Cryptocurrency Exchange that was founded in 2017 and is registered in Seychelles. Voyager says they do 9%. Instead of fiat currencies or other cryptocurrencies, KuCoin Futures handles Bitcoin/ETH only, and all the profit and loss are in Bitcoin/ETH/USDT. I think that's laid out somewhere, but honestly it's not enough to worry about. KuCoin Futures(KuCoin Mercantile Exchange) is an advanced cryptocurrency Trading Platform which offers various leveraged Futures that are bought and sold in Bitcoin and other cryptocurrencies. Ask around and you’ll find that for many, KuCoin … The lenders only need to fill in the Loan Amount and the Daily Interest Rate (Interest rate range is from 0 to 0.2%) and the Lend Terms selection could be 7 days, 14 days and 28 days. Is the 10% insurance cut and 5% Kucoin cut taken out of the lenders profits or added in fees to the borrower? That depends on what you want to do. It will auto-lend your entire balance minus the amount you specify for reserves, so this includes the settled profits. 1. Conversely, you can also borrow assets on the platform to amplify investment returns by Margin trading. 4. KuCoin is a world-class blockchain asset exchange that prides itself as “The People’s Exchange” and has risen to the crypto space in 2017.. KuCoin also has a native cryptocurrency called as KuCoin for its exchange users. An additional feature available at KuCoin is that of its lending program. You may check this FAQ for further info. Unrealised PNL:The unrealised PNL is based on the difference between the average entry price and mark price. Trading Fees and Funding Fees are also included in the realised PNL. KuCoin Crypto Lending is a peer-to-peer lending platform, the interest rate of lending changes dynamically and determined by the market. The ADL mechanism has protected users from losing extra margins in their account if their position is being liquidated and also avoided the inflexibility over the settlement in the Socialised Loss mechanism. The version features an advanced application programming interface (API), a broader range of security solutions, margin and leverage trading, a tiered trading fee, and the separation of funds between Main, Trading and Lending accounts. Auto lend is great when rates are high and to make sure your loans are put back up if someone pays early. KuCoin Futures(KuCoin Mercantile Exchange) is an advanced cryptocurrency Trading Platform which offers various leveraged Futures that are bought and sold in Bitcoin and other cryptocurrencies. I too have wondered about these exact things. I've been digging in trying to find reasons I shouldn't but haven't found much, Find the next crypto gem on KuCoin, the People's Exchange, Press J to jump to the feed. Up vote for you! KuCoin lending is at 50% APR right now. let's say someone lends a currency for 7 days but returns it after 3.5 hours. Why would you move away from KuCoin? This mode is useful for users who are hedging existing positions. Close. However, if the insurance fund is not enough, the ADL system will automatically start and deleverage the counterparty positions of the liquidated position at the bankruptcy price of that position, by profit and leverage level priority. Crypto Lending Explained Crypto lending or staking are alike in their goal to earn passive income, however crypto lending works quite a bit different. How to Check Positions and close Positions? so each transaction. How do taxes work on interest income in the US? The accrued interest is updated every hour and will be settled when the borrowers repay. KuCoin Review. Are taxes paid on all realized profits after each settlement/transaction OR if you allow interest income to be reinvested can taxes just be paid when money is withdrawn from Kucoin? Does the lender keep 0.1% or 0.085%? In this Lending platform, KuCoin supports customers to lend cryptocurrencies to other customers to charge interest, such as USDT, BTC, ETH, etc. Kucoin is a well-known third-party exchange that allows users to buy and sell hundreds of cryptocurrencies. To take part, lenders are required to provide details on the loan amount and the rate of daily interest they … 2-3. KuCoin Crypto Lending is a peer-to-peer lending platform where users can lend their idle crypto assets to obtain stable income. Voyager pays pretty good interest on USDT. KuCoin Lending. You can generate your gains, losses, and income tax reports from your KuCoin investing activity by connecting your account with CryptoTrader.Tax. If token price is any indicator, however, KuCoin ($KCS) has been on the rise in both the eyes of investors and those of traders. 0 comments. Lending question. Maintenance Margin is the minimum amount of funds you must hold to keep a position open. If a trader fails to fulfill the maintenance requirement, his/her position will be taken over by the liquidation engine and gets liquidated, and the maintenance margin will be lost. You can actually contact our live support for that as they could help you with explaining things further. The available assets in the main account could be lent to borrowers. Realised PNL: This is based on the difference between the entry price and exit price of a position. Note: You can adjust the settings daily if the avg day rate adjusts. Why is lending on Kucoin is a bad idea? Lending question. When the crypto market shows an upward trend, more users will buy long, which will contribute to the increasing demand for USDT. Why Can the APR Reach 40%+ on KuCoin Crypto Lending? KuCoin also offers its users an ability to employ their digital assets in a variety of staking and lending programs. Vote. KuCoin Exchange Introduction. Similar to lending and borrowing platforms such as BlockFi and Nexo, KuCoin incentivises its customers to hold assets on the platform by offering interest on crypto. The Exchange offers a wide range of crypto services: margin and futures trading, a built-in P2P exchange, ability to buy crypto using credit/debit cards, and the ability to earn crypto by lending or staking via its Pool-X, and many other … Just reading your questions makes me terrified to do my taxes this year. 5. A Futures in KuCoin Futures is an agreement to buy or sell a particular crypto asset at a predetermined price and a specified time in the future. When you go to lend and see the estimated profits is that before or after the 15% that’s taken off? NOTE: The assets in other accounts cannot be directly lent. KuCoin was initially a cryptocurrency-only platform, meaning that you could not deposit funds with fiat currency. Stick with US based exchanges. Tax are paid just like stocks. KuCoin also allows users to earn by lending out their cryptocurrency and receive interest. Make sure that the address is valid, as there is nothing that KuCoin can do if you make an error! Realised PNL is not affected. KuCoin has long been in the shadow of Binance, its better-known competitor. Or how is this calculated? The founders are Michael Gan (CEO), Eric Don (COO), and Top Lan (CTO). (Web Version), How to trade Futures at KuCoin Futures? This is achieved by integrating premium assets worldwide and constructing a state of the art transaction platform. ... KuCoin invites some users as the Genesis ones of Futures Grid Bot to experience the new features first. So if you earned $100 in interest, then $15 gets taken out and the remaining $85 goes to you. I … Is interest income prorated to the nearest hour? You can follow the steps in the guidance article below to start your Futures trading: How to trade Futures at KuCoin Futures? It is safe to lend, you get 85% of the interest paid, 5% goes to KuCoin, and 10% goes to insurance to make sure all loans are covered. When rates are low, that's not to good as your money may be locked in a low rate loan if there is a spike. For example, let's say a margin trader predicts the BTC price will go up. Auto-Deposit Margin：When Auto-Deposit Margin mode is enabled, funds in the Available Balance will be added to the existing position whenever liquidation happens, trying to prevent the position from being liquidated. However, the platform has since formed a partnership with Simplex – a European payment provider that bridges the gap between cryptocurrencies and everyday money. its all a smart contract. I’ve used KuCoin for half a year Lending is legit, I do it whenever I have cash I’m not using. Let's say the daily interest rate a lender charges is 0.1%. As good and practical practice, you may want to consider the 2-factor authentication (Google 2FA) to safeguard your information and cryptocurrency assets. Mark price: This system sets the Mark Price of the Futures to the Fair Price. Share: The specific instructions in detail are as follows: 1. KuCoin is a cryptocurrency exchange that grew enormously after it came online in 2017. ADL (Auto-Deleveraging): When a position is taken over by the liquidation engine, the insurance fund will be used to cover the extra cost of this liquidation process, i.e., if the position is closed at a worse price than the bankruptcy price. 1.There's actually a normal lend and auto-lend. This article will review KuCoin, a secure and easy-to-use crypto exchange for buying and selling bitcoin and other cryptocurrencies. The recent $200 million hack of Singapore-based major cryptocurrency exchange KuCoin has been making headlines for the flow of funds to DeFi, everyone's favourite new Crypto frontier. In simple terms, KuCoin Futures trading is a process of opening a position - getting profit/loss from the position - closing a position. In particuler, crypto lending allows users to lend fiat currencies to borrowers. When not trading on KuCoin, assets can be lent out to others to earn up to 12% USDT annualized. The KuCoin Earn feature is divided into a number of sub-categories, including PoolX, Soft Staking, and KuCoin Lend. Margin: The margin is used in opening a position or maintaining your current position, which is formed by Initial Margin and Maintenance Margin. Earn interest on your digital assets by lending them out for the funding of margin accounts. Nevertheless, they are still active and developing a lot of new features for the exchange. I did not find good documentation on this, but essentially they will take 15% of your profits. I would appreciate any guidance: If I have auto-lend set will it also auto-lend settled profits? Newbies Must Read 01: Start Futures Trading in 3 Steps, Newbies Must Read 02: Actual Leverage - Key of Controlling Futures Trading Risks, Newbies Must Read 03: Take Profit & Stop Loss to Control Risks, KuCoin Futures - 10 Principles for Futures Trading. Kucoin Withdrawals Earn Interest at KuCoin. All interest from the moment it is earned would likely be treated as ordinary income - similar to the interest you get from your bank. The 15% is taken out of the lender profits. Their succes was mainly because of the bull run at that time and that they added a lot of (new) cryptocurrencies very fast. If your funds are repaid within an hour you will still earn some interest. He borrows your USDT to buy BTC, and when the price goes up he sells BTC for USDT and pays back the borrowed USDT with interest. Welcome to KuCoin Futures! Lending at KuCoin KuCoin’s Lending platform is designed to support users who lend cryptocurrencies to others, with interest charged to generate extra income. I dont think you should lend or trade on KuCoin, you are going to have a rough time. KuCoin offers an opportunity to lend your unused assets to other users who are seeking loans for margin trading. Is there anywhere I can go to view how the lending insurance works? All the trading products on KuCoin Futures are Futures of cryptocurrency. Nowadays KuCoin is a little less popular and Binance clearly won ground. KuCoin Values. I have recently begun the lending process and have a few questions I cannot find anywhere. Once an account has been created, a KuCoin user can also enable several safety features. Once the funds leave KuCoin, they will be transferred to the cryptocurrency wallet address of your choosing. The purpose of KuCoin Earn is to provide the platform’s users with a lucrative means of earning an income using their cryptocurrencies. Futures Encyclopedia 01: What is a Funding Rate. KuCoin also provide Excellent Support, Maker & Taker Transaction Fees, Open API It was founded via an ICO that started in August 2017 that raised over $22 million. Which is better? 4. Holders of this token get access to unique features that we will discuss further in this article. I did it for a few weeks it wasn’t much and then the interest went down so I stopped. The interest rate varies depending on the coin that you wish to lend. Initial Margin is the minimum amount of funds you must deposit to open a position. It has branch offices in Singapore, China, Thailand, The Philippines, and Bulgaria. It therefore goes without saying that you can also borrow some coins from other users. By holding a minimum of 6 KCS in their exchange account users receive rewards including dividends from the site’s daily received trading fees, discounted trading fees, and access to additional trading pairs. Am I missing something? In this way, borrowers will pay interest to the lenders. Posted by just now. It is a reference PNL of a position. An Introduction to KuCoin Exchange. After enabling automatic lending, the system will help lend users’ funds at the best interest rate in the margin market (you need to set the lowest daily interest rate you accept. KuCoin follows the required AML/KYC (anti-money laundering/Know Your Customer) process. Instead of fiat currencies or other cryptocurrencies, KuCoin Futures handles Bitcoin/ETH only, and all the profit and loss are in Bitcoin/ETH/USDT.

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