In this world of digitalization, cryptocurrency is getting more and more attention because of its advantages and the huge potential for an increase in value. Cryptocurrency is a non-centralized currency, also known as non-fiat currency, which means no third party like bank or government is involved in the monitoring, transaction, or issuing of this currency. On the other hand, regular currency, also known as Fiat currency, is government monitored. So the question is how to convert the Fiat currency to cryptocurrency as these are two entirely different forms of currencies, and interchanging them can be a complex process, especially for new users.
There are various methods to transfer fiat currency to cryptocurrency. The first is the traditional broker system in which you purchase crypto from a broker in exchange for money. The process is outdated, and there is much information required before making a deal. Another method is by the use of Crypto exchanges. Most crypto exchanges only transfer from crypto to crypto, changing the form of the coin, such as from Ethereum to bitcoin or something else. Some crypto exchanges can take your fiat currency and invest it in the crypto market and trading. But there is a long process required for it that can be difficult to understand by new users.
Best Crypto Exchange
There are many cryptocurrency exchanges to choose from in the market, and all of them have their purposes and features. Still, if you are new to crypto reading and investment and want to gain huge profits even when you are not using the exchange, then it is better to choose KuCoin. KuCoin crypto exchange was launched in 2017, and since then, it has been getting more and more attractive for its users. Currently, one out every four crypto investors outside the United States use KuCoin for their crypto investment.
KuCoin For Fiat Transfer
KuCoin is among the few coins that are legal to convert fiat currency to cryptocurrency. Converting to crypto from fiat is complex, but with KuCoin, it can be done in simple steps. First, an account is required on the KuCoin platform that can be made with the phone number or email address. Once the account is generated and verified, the user can add money to it using a credit or debit card. The currency added in this step is without any charges. The next step is to convert this Fiat currency into KCS, the coin for KuCoin. With the KCS, you can now buy any crypto you like. KuCoin allows you to choose from over 400 rare and not used commonly. It also gives a user-friendly interface that is easy to understand and has advantage features like mining pool, bitcoin exchange, and most importantly, the trading bot that can help the users assist them in investing money and gain huge profit. All the history and trends of coins are shown in a real-time graph that helps the investor choose the crypto for investment.