Kuna Cryptocurrency Exchange – Full Review
Kuna is a cryptocurrency exchange from Ukrainian developers. The platform offers support for both entrepreneurs and ordinary traders. The creators assure that their service is the easiest way to buy and sell cryptocurrency in Eastern Europe.
The appearance of KUNA on the market dates from the spring of 2016, and the exchange is owned by the KUNA Bitcoin Agency, which is known for the development of various blockchain projects. The creator is Mikhail Chobanyan, who is also known for leading the Bitcoin License Ukraine and the Bitcoin Foundation Ukraine.
In the summer of 2017, the team conducted an SCO to raise additional funds. At that time, 100,000 KUN was put up for sale, but it did not work to collect the necessary amount and all the funds that they managed to attract were returned to the investors.
In autumn, the team launched a network of cryptomats in Ukraine. The first such devices were installed in Kiev. They make it easy to acquire bitcoins and are easy to use like regular ATMs.
The exchange interface is available in several languages. Among them are English, Russian, Ukrainian and Chinese.
Webmasters are offered widgets to display the value of cryptocurrencies in hryvnias. With the help of them you can post on your website the current course in a beautiful design of your choice.
Registration and Verification
This exchange is not one of those platforms that require too much personal user data. To register, you will need to specify only the email address and activate it with a link from the letter. The whole process does not take much time and should not cause any difficulties. To conduct full-fledged trading, it is not required to undergo any verification and all the functions of the exchange are immediately available.
Deposit and withdrawal of money
Topping up an account on the exchange and withdrawing funds is possible with the help of cryptocurrencies and with the help of hryvnias. To do this, go to the “Assets” page. The platform will independently generate an address for each currency for the transfer of coins.
Well, if you want to replenish the hryvnia account, then several methods are available here. The platform supports standard Visa or Mastercard bank cards and replenishment using the Geo system. If you choose the first option, you will need to add a map on the “Card Management” page.
How to trade on KUNA
To buy or sell cryptocurrency, you need to go to the “Trading” section. At the top you can see a list of all available trading pairs. At the time of writing, the exchange supports the following:
- BTC / UAH
- ETH / UAH
- WAVES / UAH
- GBG / UAH
- BCH / UAH
- XRP / UAH
- BCH / BTC
- GOL / GBG
- KUN / BTC
- RMC / BTC
- R / BTC
- ARN / BTC
- EVR / BTC
- B2B / BTC
- EOS / BTC
- FOOD / BTC
- OTX / BTC
On the page of each of them a graph is displayed for the last day in increments of an hour. No fine-tuning or analytical tools are provided for it; only the price and trading volume are displayed.
Below are glasses with buy and sell orders and trading information. The crypto-exchange interface is very minimalistic and not overloaded with unnecessary functions.
How to buy bitcoin on KUNA
To purchase BTC you need to select the appropriate trading pair and go to its page. In the field “price” indicate the desired purchase price, and in the field “quantity” – how many coins you want to buy. Click the “Buy BTC” button. If there is an order in the glass for sale with a price that is lower or equal to yours, then the funds will be credited to your account immediately. If you indicated a price lower than the market price, then the order will be added to the purchase glass. Bitcoin can also be sold in exactly the same way.
Commissions on the exchange are not too high and roughly correspond to competitors. However, KUNA also has a commission to deposit funds. When replenishing the account, a commission of 1% + 5 hryvnia is charged. Withdrawal will be charged only 1%. When concluding a deal to buy or sell, the platform takes 0.25% for itself.
Developers also practice adding coins for a fee. So, for example, if you want to add a token that uses the Ethereum or Waves platform, then you will have to pay 0.5 BTC for listing. If the added token uses another blockchain, then its placement will cost 1 BTC.
The average daily trading volume on the exchange is 35 bitcoins. At the moment, it is more than 350 thousand dollars. This result is not bad for a platform that focuses on a limited number of countries. The most popular trading pairs are Bitcoin, Ethereum and Bitcoin Cash.
Security & Support
Developers care about the security of their users and insist on the need to use two-factor authentication, which minimizes the risk of hacking an account. It is provided by the Authenticator service from Google. The application that is downloaded to the smartphone will be used to obtain a special temporary password to enter the site. Moreover, in the settings there is an option that allows you to enable the sending of an email to an email address to confirm the withdrawal of funds from the account. A visit history is available in your account, which allows you to check whether someone else has gained access to your account.
The exchange, for its part, ensures the security of user funds by storing cryptocurrencies in so-called cold wallets. The developers consider security one of their highest priorities and launched a program that allows professionals and ordinary users to receive rewards for finding platform vulnerabilities. Thus, you can earn from several tens to several thousand dollars. The amount of reward depends on the size of the security hole found.
Support, according to users, works well. The service can be contacted in several languages and the answers are very prompt.
1. Orientation to Eastern Europe. Today there are not many regional trading floors that focus on this market.
2. Support for bank cards. It is not difficult to replenish the hryvnia account on KUNA and now it is very simple to buy bitcoins.
3. No need for verification. You can work on the exchange immediately after registration and you do not need to confirm your identity in any way.
4. Good tech support. User support is multilingual and implemented as soon as possible.
5. Ease of use. A convenient minimalistic interface makes this exchange more like a simple exchange. It is well suited for novice users, because it will be easy to understand the functionality even for those who have no experience in the field of trading.
6. Ability to add tokens. The project team provides services for placing your coins for a small amount. This could be a good start for many blockchain startups.
1. Low popularity. The site is still not so famous when compared with larger competitors. Because of this, the trading volume is not as large as it could be.
2. Lack of support for other fiat currencies. Topping up an account with a card at the moment is only possible in hryvnias. Adding dollars or euros could help attract many new users.
3. Inconvenient graphics. The interface is too simplified in some places and many familiar functions are missing. For example, course graphs display too little information and do not have any tools to work with them.
KUNA exchange is a great way to acquire the most popular cryptocurrency in Ukraine for beginners. The developers emphasized ease of use and assembled a team of professionals. The biggest problem of the site is its low popularity outside the post-Soviet space. In the future, probably, the creators will be able to eliminate this drawback.