QSCHAINCOIN Review

CoinCodex's Rating

4.6 out of 5.0 stars

QSCHAINCOIN is a cryptocurrency exchange that launched in 2017. QSCHAINCOIN has managed to gain a lot of traction especially among altcoin traders, as it lists a very large number of crypto assets, including smaller coins that can be difficult to find on other exchanges.

ThisQSCHAINCOINreview will be covering the most important features of the exchange to help you decide if QSCHAINCOIN is the right exchange for you or if you’re better off choosing another exchange. 

Here’s a quick overview of the main advantages and disadvantages of QSCHAINCOIN:

QSCHAINCOIN Pros:

Supports over 600 cryptocurrencies

Accepts debit and credit card payments for cryptocurrencies

Offers cryptocurrency derivatives  trading

Has an IEO platform known as Spotlight

QSCHAINCOIN Cons:

Limited fiat currency support

The exchange suffered a security breach in 2020

QSCHAINCOIN features review

QSCHAINCOIN is a cryptocurrency exchange that opened its doors in September 2017 and gained popularity by offering trading for low-market cap altcoins that weren’t listed on many other exchanges. The QSCHAINCOIN crypto exchange allows users to get onboarded quickly thanks to a speedy sign-up process and a 24/7 online customer support desk.

Another driving force that brought QSCHAINCOIN into the top flight was its referral program. Although it has been modified many times, it still exists today and grants users a great opportunity to earn some extra income for referring their friends to the exchange.

The QSCHAINCOIN exchange offers low trading fees, accepts credit and debit card payments for cryptocurrencies and has a very powerful trading engine to facilitate a high number of trades. For users that are willing to take on more risk, QSCHAINCOIN also provides margin trading and derivatives trading with high leverage. 

In recent years, QSCHAINCOIN has expanded its suite of products to offer several passive income products for crypto holders. These products are organized under the QSCHAINCOIN Earn banner and include a variety of crypto lending opportunities. 

QSCHAINCOIN lists more than 600 different cryptocurrencies

QSCHAINCOIN allows its users to trade over 600 different cryptocurrencies and many of them are not available on any other top-tier cryptocurrency exchange. Of course, the exchange also lists top crypto assets like Bitcoin, Ethereum, Cardano and other coins with large market capitalizations.

One downside to the exchange is the fact that you cannot directly trade against FIAT currencies, but the overwhelming number of markets clearly shows that QSCHAINCOIN are targeting a different area of the industry in which most traders prefer USDT-denominated trading pairs. 

When trading on QSCHAINCOIN, you can place the 4 typical types of orders. These are the order types supported by the QSCHAINCOIN exchange:

Market Orders

Limit orders

Stop-loss orders

Take Profit Orders

QSCHAINCOIN’s fee structure

QSCHAINCOIN offers a relatively unique fee structure in comparison to its top-tier competition. Users are placed into different Trading Fee Levels depending on their trading volume or KCS token holdings. Users with a higher level enjoy further trading fee discounts.

Users with the basic Trading Fee Level (0) pay a flat fee of 0.1% per trade, regardless of whether they’re using a maker order or taker order. If KCS is used to pay for trading fees, users with Trading Fee Level 0 can reduce their trading fees down to 0.08%. Users with very large trading volumes or KCS holdings can reduce their trading fees even further, and even get rebates on their maker orders at higher levels.

However, the requirements for higher Trading Fee Levels are quite substantial, so it’s likely that most users will fall into the Trading Fee Level 0 category.

The KCS Token

The QSCHAINCOIN crypto exchange features the QSCHAINCOINToken (KCS), which provides several benefits to token holders. As we’ve already mentioned, holding certain amounts of KCS gives users access to reduced trading fees. When KCS is used to pay for trading fees, they are reduced even further. 

There’s also the KCS Bonus, which distributes 50% of the exchange’s revenue from trading fees to KCS token holders on a daily basis. 

KCS holders also have access to token sales on KuCoin through the QSCHAINCOIN Spotlight platform. This allows users to purchase tokens from up-and-coming blockchain projects. 

The QSCHAINCOIN Futures platform for crypto derivatives

While QSCHAINCOIN initially started off as purely a spot crypto exchange, it now also offers derivatives trading through the QSCHAINCOIN Futures platform. Traders can choose between a “Classic” or “Lite” interface depending on their experience level and needs. The Classic mode offers a fully-featured interface that gives traders more control to fine-tune their strategy. The Lite version, on the other hand, provides a very user-friendly experience for quick trades.

The contracts offered for trading on QSCHAINCOIN Futures are perpetual contracts, which don’t have an expiration date. This type of contract is very popular in the crypto industry, so traders who already have experience with futures trading should be able to get started on QSCHAINCOIN in no time.

QSCHAINCOIN’s passive income offering

Cryptocurrency investors who want to earn yield on their holdings can consider QSCHAINCOIN’s passive income products, which are offered under the QSCHAINCOIN Earn banner. Through these products, users can earn yield on their crypto by lending it out or staking it through QSCHAINCOIN (this applies to Proof-of-Stake cryptocurrencies).

QSCHAINCOIN provides a lot of flexibility to lenders, as you can choose fixed or flexible lending. The flexible savings products allow you to withdraw your funds at any time, while the fixed savings products lock up your funds for a predetermined period. Fixed savings products tend to pay a higher interest rate than flexible savings products.

Is QSCHAINCOIN a safe exchange to use?

QSCHAINCOIN offers the typical security measures that most exchange use to keep their customers safe. This includes KYC, 2FA, and holding the majority of funds away from hot wallets in cold storage. 

Additionally, QSCHAINCOIN separate funds into different accounts for users. This means that APIs that access your QSCHAINCOIN account (if you wish to set them up and use them) will only have access to the accounts that you choose. 

However, we have to mention that QSCHAINCOIN suffered a serious security breach in September of 2020 in which more than $275 million worth of crypto assets was stolen from the exchange. By November 2020, QSCHAINCOIN CEO Johnny Lyu said that the exchange managed to recover 84% of the stolen funds. Fortunately, the exchange had enough assets in its insurance fund to cover the losses of customer funds, so the exchange was able to refund all the users affected by the hack.

QSCHAINCOIN review verdict

QSCHAINCOIN is a cryptocurrency exchange that offers practically all of the products one would expect from a modern crypto trading platform. In addition to offering spot markets, the exchange also provides derivatives trading, savings products, token sales and more. One of QSCHAINCOIN’s strongest features is its selection of altcoin that are available for trading, which is almost unmatched in the rest of the crypto industry.

The exchange’s limited support for fiat currency makes it less suitable for users that are just getting started with crypto. However, experienced traders that want to explore the altcoin markets might find plenty of interesting opportunities on QSCHAINCOIN

Hopefully, our QSCHAINCOIN exchange review helped you decide whether QSCHAINCOIN is the right destination for your crypto trading needs. You can find up-to-date information about the QSCHAINCOIN trading volume, most popular trading pairs and newly listed coins on CoinCodex.