Kucoin Wallet Review – Is KuWallet Safe To Use? KuCoin Wallet vs KuCoin
Julian Joseph Lehmann
What you'll learn 👉
What is the Kucoin Wallet?
Kucoin Wallet is a non-custodial digital wallet that lets users store and manage cryptocurrencies and NFTs while keeping full control over their private keys. The wallet is available for mobile devices as an app for Android and iOS and as a browser extension for Chrome that works on personal computers. It is developed and supported by the Kucoin exchange, but it works completely independently of the exchange and you don’t have to sign up on Kucoin to download and use KuWallet.
Main Features of the Kucoin Wallet
- it has a built-in dApps browser
- it supports 4 major blockchains by default (ETH, BNB, Polygon and KCC)
- it can store NFTs
Kucoin Wallet has a built-in dAPP browser that lets you use DeFi protocols and other apps on Ethereum and EVM-compatible networks. In addition, it features a built-in DEX (decentralized exchange) feature that works with Ethereum, BNB Chain, Polygon, and Kucoin chain-based assets.
Customers with a KuCoin wallet can buy, sell, trade, send, and receive Bitcoin (BTC), Ether (ETH), Tether (USDT), and other tokens. Integration with KuCoin’s ecosystem allows the wallet platform to be used in tandem with the exchange.
Furthermore, it allows users to aggregate data from different chains and across different blockchains. Rather than relying on an external custodian, the wallet keeps your seed phrases locally just like other popular non-custodial wallets like MetaMask or Trust Wallet.. Users accept complete accountability for the security of their own private keys. Hacken has verified its safety.
Integration with Windvane
KuCoin is also integrating their NFT marketplace, Windvane, within the wallet so that users may purchase, sell, and trade NFT collections without ever leaving the KuCoin interface. KuCoin just launched an NFT marketplace, and now they’ve set up a $100 million Creators Fund to support startups working on Web 3.0 and NFT technologies.
How to get started with Kucoin wallet
First, you’ll need to download the Kucoin mobile app, then pick “Create a new wallet,” enter your details, and choose an authentication method (biometrics or a passcode). To finish setting up your wallet, you must first write down your 12-word recovery phrase and then verify its accuracy by typing in those words in the correct order. Select a passphrase for your wallet and press the button labeled “Create a wallet.” Remember that your 12-word recovery phrase is the only way to access your wallet.
You can skip the preceding steps if you already have a wallet. In that case, you will import it by clicking on the import an existing wallet button.
Your username is how other Kucoin Wallet users will be able to locate you, although you can make it hidden in the settings menu if you want.
You can forgo choosing a username during signup for the Chrome extension, and the system will generate one for you; you can then claim it.
Read also:
- How to Buy Crypto on Kucoin P2P Marketplace?
- How To Trade (Spot & Futures) On Kucoin in the US?
- How To Use Kucoin Trading Bot
- Kucoin staking review
- How To Report Kucoin Taxes
Kucoin Wallet Fees
There is no cost for a transaction between two Kucoin Wallet users to send money to each other. However, swaps and transaction fees depend on the blockchain you use (BNB, KCC are under $1 per transaction, Polygon is under $0.10 while ETH is more expensive and averages $2-$3 per transaction).
Kucoin Wallet’s dApp browser
The built-in dApp browser provided in Kucoin Wallet allows you to access dapps and other DeFi protocols on the Ethereum and EVM-compatible blockchain networks.
Supported coins on Kucoin Wallet
All coins and tokens from the 4 supported chains can be stored on Kucoin wallet. The 4 chains are KCC, BNB, Ethereum and Polygon.
Kucoin vs Kucoin Wallet
Kucoin wallet is developed and supported by the Kucoin exchange. Still, it works completely independently of the exchange, and you don’t have to sign up on Kucoin to download and use KuWallet.
Conclusion
Kucoin.com, one of the most well-known names in the bitcoin trading sector, developed and maintains the Kucoin Wallet. This guarantees that the wallet will always be up-to-date and cutting edge in terms of innovation and new features.
