The revelations for streamlining were made via an announcement on the KuCoin website. Since they added the USD//Coin (USDC) market, which included BTC/USDC and the ETH/USDC trading pairs they want to streamline activity.
Thus, they no longer offer the USDC/BTC and the USDC/ETH pairs. This will occur on November 7, 2018. Despite this, traders can still trade their ETH and BTC in the USDC market as usual.
Streamlining of Trading Pairs
— KuCoin Updates (@KuCoinUpdates) November 6, 2018
What Removing The Trading Pairs Will Entail
- All the open order for those pairs that will be removed will close on November 7, 2018, at 17:30 (UCT+8)
- Only the trading pairs will be removed. However, the tokens will remain unaffected
- Users will not lose any tokens just because the trading pairs have been removed
- It will still be possible to use tokens for other trading pairs on the KuCoin exchange
- Once the trading pairs are removed, the system will recall the open orders
About The KuCoin Exchange
This is one of the many crypto exchanges for those that need a secure and modern place to trade crypto. It was created by a group of crypto lovers who worked for major companies in the fintech world. Some of them came from companies such as Ant Financial, Jianbang, iBOX PAY, and many others. KuCoin has a goal of giving traders a way to trade crypto in a safe and easy manner.
Although it is still quite new, the team has proven they are capable of delivering quality. Since it was launched, the exchange has never had any major issue. To show just how young the exchange is, its core team came together in May 2017.
In August, it received funding and version one went live after a few days. Since then, the exchange has added many other currencies that can be traded and various other tools.
While the exchange is young, the core team has been in the blockchain world for a while now. They have worked on various blockchain projects from around 2011 to the present. They first came out with a draft for the exchange in 2013. Since then, they proceeded to smoothen out various issues until it was launched in 2017.
Joining The Exchange
Being part of KuCoin is quite easy. You only need an email, which you enter into the site’s sign up page. After that, you will get an email on how to join the exchange. Inside the exchange itself, you can make various adjustments in the settings.
This will help you track your assets with ease or manage any rewards such as bonuses from inviting others. This exchange is designed with newbies in mind. Thus, there is no learning curve for you to start trading.
To secure your account, the exchange recommends you enable 2-factor authentication. The layout of this exchange is simple and modern. This is also seen in the market overview area where you can view the trading pairs. Thus far, they offer BTC, ETH, NEO, KCS, and USDT. However, they might add others later since it is still quite young.