Kucoin is one of the major altcoin exchanges. An exchange where you can buy alternative cryptocurrencies, crypto that isn’t yet mainstream, and of course the core favourites.
They’ve just ushered in a “LocalBitcoins-like” P2P exchange where you can trade person to person. Trading Bitcoin for fiat currencies, with other people, via Bank Transfer, PayPal and other payment gateways.
Now, this is really interesting because of the exposure that Kucoin already has to the cryptocurrency market. They’ll be pulling in a hell of a lot of traders here.
In this article, I’m going to discuss the benefits of the introduction Kucoin’s P2P market, what it means for people flipping Bitcoin, and how it will benefit Kucoin.
But of course, at our pace!
You’ll probably be able flip crypto for profit on Kucoin now
Which presents a great opprotunity for people to start profiting, especially if they’re flipping Bitcoin–like I teach in my LocalBitcoins flipping guide.
In the guide, I explain how you can buy and sell Bitcoin, over and over, by posting trades. And because you set the trade parameters, you can guarantee profit margins on every trade.
It’s simpler to understand in the long-form guide that it is to explain it in a paragraph.
But more to the point, I’ve literally just had the email notification come through about Kucoin, so this is the bleeding-edge latest on another P2P bitcoin exchange. So, if you’re willing to jump on this, I imagine you could pull in some pretty good deals. Both on the buy and sell side.
Check out Kucoin, they’re a great exchange, not just for P2P
Especially considering it now opens up the possibility for people deposit directly onto the exchange.
KuCoin is hugely popular, and renowned globally for their services. They’re similar to the likes of Binance.
Previous to the introduction of the P2P exchange, I remember it was a massive ordeal to transfer funds to Kucoin. It consisted of me buying Bitcoin from LocalBitcoins or Coinbase, then waiting to transfer it to KuCoin, waiting for the transfer times, then verification.
This all just got expedited by the introduction of the P2P market.
And, this update makes the exchange a whole lot better
Not many people will see that. And I also imagine it will be extremely beneficial to the price of KuCoin shares. There own proprietary cryptocurrency; which, by the way, generates funds just for holding it.
At the moment, there is literally one other person selling on their P2P exchange. And, obviously because they’re THE market, they’re going to be getting the best prices as people try out the new service.
I can see them both on the buy and sell side, flipping as I’ve been teaching you guys. Get in there quickly, create a market.
This singular user will defining the parameters of all the trades, and generating a nice free income for themselves!
The interface of their P2P exchange is fairly basic, but honestly, it doesn’t need to be busy. This is something that LocalBitcoins isn’t great for; bad UX, too much stuff going on, makes it difficult for newbies to understand what’s going on when they first join.
You can trade with a variety of methods, including PayPal. So this could be a great way for people to enter and exit crypto-markets via Paypal.
Though, I would warn people against overusing Paypal in crypto.
You see, the thing with Paypal is that, you can chargeback Paypal payments easily.
Whereas cryptocurrencies, now, they’re pretty solid in been sent and irretrievable. Always make sure you’re trading with reputable people, on and and off KuCoin.
I’m looking forward to hearing back from people about what they think about this new alternative to LocalBitcoins. I’m wondering whether or not it’ll be a great place to profit on flipping crypto too!