KuCoin Fiat Account AMA — A Brand New Way To Take You Into the Crypto World

2021/11/22 03:31:32

Dear KuCoin Users,

Time: November 2, 2021, 12:00-12:55 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session in the KuCoin Exchange Group about its brand-new product — KuCoin Fiat Account.

KuCoin Fiat Account Introduction

KuCoin has spotted the demand for a simpler deposit process and launched the Fiat Account for an easy start. KuCoin Fiat Account is a new product launched by KuCoin to lower further the entry barriers for all users to the crypto world using bank cards. KuCoin Fiat Account aims to realize a better trading experience in a highly secure and efficient manner, meanwhile offering a lower fee to maximize the users’ benefits.

KuCoin Fiat Account was launched on October 18, 2021, where users can buy cryptos via bank card or fiat balance on KuCoin. The launch of the KuCoin Fiat Account offers a new way for the fiat deposit business.

From 18:00 on November 2, 2021 to 18:00 on November 5, 2021 (UTC), users can participate in the “Buy Crypto To Get 50% Off” campaign to celebrate the official launch of the KuCoin Fiat Account. You can find the details in the link below:

https://www.kucoin.com/news/en-kucoin-fiat-account-now-live

Guest: KuCoin Payment Business Unit Senior Manager Forrest

Q&A from KuCoin

Q: Can you please introduce yourself?

Forrest: Dear valued KuCoin users, I’m Forrest from KuCoin Payment Business Unit. Nice to e-meet all of you here.

As a KuCoiner for the last 4 years, I realized that it’s not easy for KuCoin users to buy crypto with fiat.

Therefore, with the attention of the management, we started to design and launch the KuCoin Fiat Account, which aims to provide KuCoin users with more convenient fiat currency deposit and withdrawal services.

Q: What is a Fiat Account, and why does KuCoin launch this product?

Forrest: As more and more users all over the world accept and invest in crypto, more new users come to register and trade on KuCoin. Therefore, the KuCoin Fiat Account has been launched to help users with quick crypto transactions in a better way.

Users can buy cryptos via fiat account using bank cards or fiat balance in their accounts. It provides a lower fee and simple procedure and supports quick arrival of funds and more fiats.

All in all, KuCoin aims to simplify the trading process and provide a better trading experience in a highly secure and efficient manner which is exactly what a fiat account can do. The launch of the KuCoin Fiat Account represents a new era for KuCoin's fiat currency deposit business.

Q: What is the difference between a Third-Party and Fiat Account?

Forrest: On the Fiat Account channel, users can deposit fiat currency into their account and use the fiat balance to buy crypto, which is not available on a third-party channel.

Besides, users only need to do a one-time KYC and can directly pay with credit cards for cryptos on KuCoin without the involvement of a third party. Users can also get a lower fee via Fiat Account.

Q: What are the advantages of a fiat account on KuCoin compared to the ones on other exchanges?

Forrest: On the Fiat Account channel of KuCoin, users can find a lower fee and a more reasonable price. KuCoin tries to maximize users’ benefits.

And also, there are more payment methods and currencies that will be supported in the near future.

Q: What’s the future plan for the KuCoin Fiat Account?

Forrest: Fiat Account is a basic function; it only supports bank cards as the payment method at phase one.

Latterly, it will support more payment methods for fiat deposit and crypto purchases, such as SEPA, wire transfers, Apple Pay, and more localized payment methods for global users.

Meanwhile, we are planning to launch more pairs in the near future. The fiat currencies supported will reach 50+, apart from USDT. Users can also purchase BTC and ETH via the KuCoin Fiat Account. In the meantime, we will open up the withdrawal service as well. KuCoin is dedicated to creating the most convenient and most favorable products for users.

Q: How can I find the Fiat Account on KuCoin?

Forrest: Haha, the word “Fiat Account” does not exist on KuCoin.

It represents the newly launched functions - Bank Card and fiat balance. You can go to “Fast Buy” to find these two functions to purchase cryptos.

For Bank Card, users can bind their cards to buy cryptos directly on KuCoin, or they can also deposit fiat currency into their Main account and use "fiat balance” to pay. In the near future, the withdrawal service will be available as well.

Q: What is Fast Buy?

Forrest: Fast Buy is a channel that aims to provide new users with a simpler trading procedure and help new users match feasible payment methods and favorable quotations.

Q: If I can deposit crypto to KuCoin, why would I use a Fiat Account? What’s good about it?

Forrest: That's a good question.

If you have crypto in other exchanges or wallets, you are very welcome to KuCoin to trade through depositing crypto.

But if you don't have it or want to continue using fiat currency to buy crypto, you are welcome to buy it directly on KuCoin.

There are several benefits of buying crypto via a fiat account:

1. KuCoin offers a lower fee compared with other channels in the industry. It is cheaper to buy crypto on KuCoin.

2. Buying cryptos using fiat currency on KuCoin will save the transfer time of crypto and handling fee.

Free-Ask from KuCoin Community

Q: Is your platform suitable for crypto beginners, or is it only limited to professional users?

Forrest: Yes, fiat account is very friendly for beginners. You can just go to "Fast Buy" and bind your card and pay, and then you will get crypto.

Q: Where can I currently buy tokens?

Forrest: Go to "Fast Buy" and follow the easy steps.

Q: Is there any fees for buying crypto?

Forrest: It is the lowest in the industry because the payment gateway charges a fee from us. And also, you can join our promotion "Buy Crypto To Get 50% Off".

Q: When can we buy other currencies other than USD?

Forrest: In the middle of this month, we will support EUR, GBP, CAD, AUD, and other fiat currencies.

Q: During the building of your project, do you take into account any of the community feedback or demands to further expand the new ideas for the project?

Forrest: Yes, we have invited 100 KuCoin users to conduct preliminary user research.

Q: Is there anything else you would like to share or you want us to know?

Forrest: All I want all users to know is that our KuCoiner will work hard to supply more good products and services to all of our users.

Thanks!

Giveaway Section

KuCoin Fiat Account has prepared a total of 500 USDT to give away to AMA participants.