KuCoin Wallet Adds Native Swap Function To Give Users The Lowest Exchange Fees

2022/09/01 13:00:00

Cryptocurrency exchange KuCoin has successfully launched the native swap function in the service’s flagship product – the KuCoin Wallet. The new feature is designed to provide users with a streamlined and convenient digital asset swap at the lowest fees.

KuCoin is applying the innovative Pathfinder algorithm developed by 1inch in the KuCoin Wallet application to give users access to the lowest rates based on aggregation of over 250 liquidity sources. The launch has become possible after extensive beta testing of KuCoin Wallet, which included over 70,000 registered users and provided valuable feedback about the application’s operability.

The native swap function frees users from having to redirect to third-party services and exchanges, allowing them to conduct all swap operations directly through the KuCoin Wallet. The swap also comes with a high degree of security, provided by the non-custodial nature of the KuCoin Wallet, which hands over all asset custody and access to the users. A platform service fee of 1% will be automatically factored into each operation to boost the development of the KuCoin Wallet and ensure the addition of more functions and amenities in the future.

“We are always striving to make our product cater to the needs of all investors. Swap is a high-frequency feature of the wallet and 1inch is one of the most popular DEXs in the Web-3 industry, so we work together through native integration to provide a smooth and cost-effective trading experience for our users”, as Jeff Haul, the Head of KuCoin Wallet, commented on the launch of the swap function. Haul added that as a gateway to the Web-3 world, KuCoin Wallet is willing to integrate any excellent DApps that can provide high value to users.

The deployment of the KuCoin Wallet is a major breakthrough for the exchange in its strive to facilitate the Web-3 user journey for its large audience base. The exchange is determined to continue developing the service and provide users with the ability to leverage newly added networks and liquidity pools as the integrated 1inch protocol expands, further enhancing the experience and lowering fees.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 20 million users in 207 countries and regions.

In 2022, KuCoin raised over $150 million in investments through a Pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021, Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, KuCoin won the Best Crypto App for enthusiasts award by Ascent.

About KuCoin Wallet

KuCoin Wallet is a secure and easy-to-use crypto wallet that supports multi-chain aggregation powered by the KuCoin ecosystem. With the security expertise of KuCoin and the leading security technology audited by Hacken, KuCoin Wallet is a self-custody wallet with users having full control of their assets. KuCoin Wallet provides the easiest way for users to manage multi-chain assets and enables them to buy, store and view NFT collections directly within the wallet. KuCoin Wallet is a gateway to the world of Web3 for all crypto users.