How to Trade for Bitcoins for Altcoins using KuCoin

Since bitcoin’s trading price is at its lowest since November 2017, you may think of some alternative coins to venture into. One of the ways to get them in the Philippines is through cryptocurrency exchanges such as KuCoin.

KuCoin

KuCoin is one of very few cryptocurrency exchange sites that offer PHP as currency. Yes, you don’t need to manually compute dollars to Philippine Peso as it is already in our currency. It also has a checklist every time you log in to ensure that you meet the following conditions before you begin trading.

We recommend using cryptocurrency exchanges such as KuCoin if the altcoin you want to have is not readily available here in the Philippines. If you want to have BTC, ETH, or BCH you can use Philippine accessible apps such as Coins.ph, Bitbit.cash, Buybitcoin.ph, and Abra.

Altcoins to buy in KuCoin

How to Sign Up for KuCoin from the Philippines

KuCoin doesn’t require any KYC so you can register easily by providing your email and password. You can check their official website HERE. After activating your email, a checklist will pop out and you need to confirm that you meet the following conditions.

How to Fund your KuCoin Account

Funding your KuCoin account can be a little tricky because they use a third party application to do the two-step verification. Note, however, that even major exchanges now use two-step verifications as well.

Here’s what you need to do, click on the $ sign that you see on the upper right side of the screen and click on Deposit. By clicking on Deposit, the site will direct you to its Google 2-Step verification. We suggest having your iOS or Android phone ready as you will need to download an application (you can click on iOS and Android to download it in advance).

After downloading the app, click on Next. The site will give you a username and code that you need to put in the Google 2-Step, you can also use the QR code. After registering the code, you will need to input a time-sensitive code to finish the process.

After the Google 2-Step process, you can now deposit cryptos in your account. Make sure you’re on the right coin by clicking on the drop-down button. KuCoin will then give you a QR code and an address that you can use to fund your account.

Going to Exchange

You can go to the Exchange by going to Markets that you can see on the upper left of the screen. In the Markets’ page, you can now choose what altcoin you may want to exchange for your bitcoin. In the image given above, we tried buying ether using BTC. You just need to click on Buy and you can either set your own BTC price to ETH or just click on the Ask button. Using the Ask button will automate the price of BTC according to the market. After putting the price of BTC for each ETH, you can now put the amount of ETH you want to buy. As usual, you will need to get on your Google 2-Step app to get verified, copy the code and paste it on the page, click on Buy to finish the transaction.

Tips for Buying Altcoins in KuCoin

Try buying Altcoins in small amounts first before you go all out.
1. But only invest in an amount you can afford to lose!
Before buying your chosen Altcoin, have your altcoin wallet ready. Keeping your altcoin in crypto-exchanges is not safe as they are prone to hackers. Our recommended cryptocurrency wallets can be found here.

It is important to note that since this is not a big exchange, expect that its customer support might not be top notch. As a precaution, even in the bigger exchanges, always test using small amounts first, an amount you are comfortable to sleep on.

Overall KuCoin – Philippines

Since KuCoin uses a third party application to do a 2-step verification, I wouldn’t recommend it to non-tech savvy traders. Google’s 2-step verification also just gives you a couple of seconds before the code expires so you have to copy it fast. If you are not comfortable about it, we suggest you stay away, even from the major exchanges. What I like about this cryptocurrency exchange is its option to change from USD to Php. It is easier to see the exact amount without having to compute for $ to Php exchange rate.