KuCoin, a global crypto exchange, highlighted its commitment to advancing the future of crypto and blockchain at the Blockchain Life 2024 event in Dubai. As the event’s Stage and Gold Sponsor, KuCoin’s Managing Director Alicia Kao delivered the keynote presentation.
Alicia underscored KuCoin’s dedication to bridging the knowledge gap in the crypto space and empowering users to navigate the market safely and confidently.
Role of Education in Bridging Crypto Knowledge Gaps
According to statistics provided by Alicia, 88% of users are interested in joining the blockchain industry, while 31% hesitate due to a lack of knowledge and experience.
Further data shared by Alicia revealed that over 50% of participants are reluctant to start crypto trading, citing market volatility as the main reason for their hesitance. Other reasons for lack of participation include concerns about the platform’s security and trustworthiness against potential scams.
To overcome this trust deficit, KuCoin launched educational programs such as KuCoin Learn & Earn and KuCoin Campus. Alicia highlighted that within just 45 days of KuCoin’s Learn & Earn program, 2.7 million users completed different courses and, in return, received different rewards. This demonstrates strong user demand for accessible and reliable crypto education.
In addition, KuCoin addressed over 1.5 million queries, which helped users get answers regarding their concerns about crypto trading during 2024 H1. Shifts in user inquiries also reflect increased platform sophistication, which makes it easier to use for beginners and medium-experienced traders.
Alicia further highlighted that questions regarding Google 2FA (two-factor authentication) have decreased over the past three years as users have become more knowledgeable. In contrast, advanced trading questions have spiked and taken their place. In fact, users’ concerns have shifted from short-term rewards to long-term investment strategies.
The rising queries that KuCoin receives are related to Know Your Customer (KYC) processes and suspicious activity consultations.
Debunking Common Myths in Crypto Trading
KuCoin tackled common misconceptions that help users understand crypto trading better. Some of the notable myths include:
Myth 1: Trading bitcoin derivatives means shorting bitcoin.
KuCoin clarified that futures trading allows users to take both long and short positions, providing them with flexibility and liquidity. It also allows them to hedge against market risks.
Myth 2: Withdrawal issues mean exchanges are blocking withdrawal.
Many withdrawal delays occur due to network congestion, regulatory compliance, or security protocols rather than attempts by exchanges to restrict access to funds.
Myth 3: Cryptocurrency is completely anonymous.
Although crypto transactions provide privacy, blockchain technology is trackable, enabling authorities to trace illicit activities. This debunks the myth of complete anonymity.
Prioritizing Security and Responsible Trading
In addition to user education, Alicia highlighted KuCoin’s focus on security by offering risk-management tools that include price protection, stop-loss/take-profit functions, auto-deleveraging (ADL), and address whitelisting.
All of these features help users minimize risk responsibly, further reinforcing KuCoin’s commitment to a secure trading environment.
Initiatives for a Safer and an Informed Community
To further cultivate a knowledgeable and secure crypto community, KuCoin has rolled over numerous other initiatives:
- KuCoin Learn and KuCoin Campus: These platforms, accessible to users globally, are designed to provide insights on crypto trends and the latest industry developments.
- KuCoin Ambassador Program: This initiative helps promote knowledge-sharing in educational institutes and inspires the next generation of blockchain enthusiasts.
- Learn and Earn Program: Developed as an incentive-based program that makes learning about cryptocurrencies more engaging.
User Protection as a Core Pillar
KuCoin’s approach to consumer protection revolves around education, technological innovation, and transparency.
This strategy aims to create a safe trading environment while equipping users to make more informed decisions. KuCoin also encourages users to follow safety practices, such as verifying links before opening them to avoid phishing scams, safeguarding passwords, and only using third-party apps.
Commitment to Ongoing Education and Innovation
Moving forward, KuCoin plans to continue investing in user education, supporting hackathons, and hosting campus workshops that help nurture emerging blockchain talent.
By having a focus on knowledge, advanced tools, and user protections, KuCoin aims to build a resilient and informed community of crypto traders.
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