Poplar crypto exchange KuCoin has a new feature dubbed Instant Exchange Service.
The feature according to KuCoin’s official blog post enables instant crypto transactions. Created by a partnership between KuCoin and Chicago Mercantile Exchange (CME), it allows for instant crypto transactions for BTC, ETH, LTC, XRP, BCHABC, and USDT.
Users can access this service from the Instant Exchange page, providing users with the best market price. It boasts of having one of the fastest transaction time, as low as 1 sec. It also conveniently carries out large orders, to prevent resulting price fluctuations from large orders in KuCoin’s spot market. This gives it a better user appeal when compared to the conventional crypto-to-crypto transaction.
For now, all Instant Exchange transactions will attract a zero transaction fee as the final price will be shown on the service page.
Johnny Lyu, Co-founder of KuCoin pointed out that the exchange is dedicated to ensuring transactions are secure, seamless and convenient. Referring to the exchange “as ‘The People’s Exchange’, he also explained that the exchange was interested in attracting more people to the crypto space.
The exchange Instant Exchange service will ensure users’ transactions are completed in the shortest time possible.
How it works
The feature is powered by both KuCoin and CME. Immediately an order is submitted, CME will evaluate trends, locate the best exchange rate and ake an immediate exchange with the provider. Several services are currently also offered by the exchange they include crypto-to-crypto, fiat-to-crypto, borrowing, staking, token launch, futures, etc. And the services are provided to more than 5 million users in over 207 countries worldwide.
Established in September 2017, the exchange has grown into one of the most popular in the world today. With several listings, product launch and partnerships. It holds great promises for more achievements and tremendous possibilities for the future. The exchange recently launched KuCoinPlay and Cloud hosting service dubbed KuCloud. Its users can also purchase crypto with AUD on KuCoin. For now, this new Instant Exchange service is a welcome improvement to KuCoin users worldwide.