KuCoin Wallet Launches Native Swap Function

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The Seychelles-based cryptocurrency exchange KuCoin has added a native swap function, lowering customer exchange fees.

The Seychelles-based cryptocurrency exchange KuCoin has added a native swap function, lowering customer exchange fees. The KuCoin Wallet is the firm’s flagship product, and the new feature will provide customers with s streamlined and convenient means to swiftly exchange digital assets at low fees. 

KuCoin Native Swap Function

The exchange has applied the innovative Pathfinder algorithm developed by the 1inch Network, a leading high capital efficient in DeFi protocols, to the KuCoin wallet application. Users will now have access to some of the lowest rates based on aggregating over 250 liquidity sources. 

The KuCoin Wallet has been through thorough beta testing for some time, including over 70,000 registered users who have provided valuable feedback. The testing has been vital to the Wallet developers' progress and integral to the release of the Native Swap Function. 

The new swap function means that users no longer have to redirect to third-party services and exchanges, resulting in them being able to conduct all their swap operations directly through the KuCoin Wallet. The firm can reduce fees because all the company's swap operations are taking place. 

One of the significant advantages of ensuring all the swaps happen in the KuCoin Wallet is the levels of security. The non-custodial nature of the wallet means that all asset custody and access are entirely in the hands of users. 

Jeff Haul, the Head of KuCoin Wallet, commented on the new product saying, “We are always striving to make our product cater to the needs of all investors. Swap is a high-frequency feature of the wallet, and 1inch is one of the most popular DEXs in the Web-3 industry, so we work together through native integration to provide a smooth and cost-effective trading experience for our users.” Haul added that as a gateway to the Web-3 world, the company is keen to work with any dApps that can add value to KuCoin users. 

The KuCoin Wallet team has been working tirelessly to get the swap function live as it completes a Web-3 user journey for users. The goal is to continue to develop the KuCoin Wallet service and offer customers the chance to leverage new networks and liquidity pools as the 1inch protocol expands. This will provide customers a better overall trading experience and allow the company to lower trading fees. 

Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.