Does KuCoin report to IRS?

Fees. KuCoin offers a tiered maker/taker fee model, with trading fees ranging from 0.0125%-0.1% , depending on your tier level. Its fees are relatively low compared to competitors, which may charge up to 0.50% per trade. Users can also get trading fee discounts based on their KuCoin Token (KCS) balance.

The KuCoin Trading Bot currently supports Classic Grid trading and Dollar-Cost Averaging . (DCA) trading. Classic Grid aims to help users arbitrage in volatile markets to make stable income. The DCA Bot allows users to conduct an automatic investment plan, which is a way to control risks and earn long-term returns.

Lenders will receive the principal amount, but they may lose some of the interest if it takes longer to recover the principal . If you decide to lend your crypto, you’ll have to take out your crypto from a secure place. This means that you need to trust the lending platform’s custodian.

No, KuCoin doesn’t provide a tax report . Don’t worry about another app having access to your KuCoin account – the API is read-only.

Earn interest on your crypto The interest you’ll earn by loaning out your crypto is more than you’d get with a traditional savings account, though it varies by coin and demand. KuCoin says you can earn 8% to 12% on average . This money finances KuCoin’s margin trading.

KuCoin lending Rates KuCoin offers up to 300% APR (yearly interests), but usually interest range from 6-12% with some specific cryptos peaking at 50%-70% . As we explained below, simply click on the different cryptos and look at the daily interest rates, multiply them by 365, and you will have the annualised return.