There is some good news for KuCoin App, Simplex had been added to the app. This enables the app user to purchase cryptocurrency using their credit card. This will eliminate fraud in the transaction as KuCoin would be able to use Simplex IA Technology. This is proprietary, fully automated machine training algorithms which analyze each transaction and it will boost conversion.
This is a big deal for crypto-commercials as Simplex allows users to use a credit card via an app and it also brings advanced payment procedure and fraud prevention technology used by big banks. This is a game changer as it gives a boost to cryptocurrency, reduce the number of false transactions, making it better conversions rate and less hassle.
— KuCoin Updates (@KuCoinUpdates) 10 May 2019
KuCoin is one of the most sophisticated exchange apps, and it recently received massive funding of 20 million. The exchange also announced that they are going to release a 2.0 platform of KuCoin.
Since, KuCoin launch, there rise to the top is very swift. Their Research and Development was set just a couple of years ago to attract KuCoin’s youth into perspective. Since then, the company have added several currencies and launched an IOS and Android mobile app.
A major reason for KuCoin rise to the top is their trading fee structure which is only 0.1% and is not based on the model manufacturer. Users can even lower this trading fee and get up to 30% off on their 0.1% trading fee.
With the addition of Simplex in KuCoin, merchants will now have zero chance of chargeback fraud and they can now use debit or credit card payment also. This makes cryptocurrency a familiar e-commerce experience for the users. The merchant’s profit is very simple, zero risks in all transactions.