KuCoin, a major global crypto exchange, recently showed its commitment to the future of cryptocurrency and blockchain at the Blockchain Life 2024 event in Dubai. As a Stage and Gold Sponsor, Managing Director Alicia Kao delivered an impactful keynote presentation.

Alicia highlighted how important it is to close the knowledge gap in the crypto space. She wants to empower users to navigate the market safely and confidently.

The Role of Education in Bridging Crypto Knowledge Gaps

Alicia shared some interesting statistics. About 88% of users want to join the blockchain industry. However, 31% hesitate because they lack knowledge and experience. Over half of the participants are also reluctant to start trading crypto, mainly due to market volatility. Concerns about platform security and scams also play a role in their hesitance.

To tackle these issues, KuCoin launched educational programs like KuCoin Learn & Earn and KuCoin Campus. In just 45 days, 2.7 million users completed various courses and earned rewards. This shows a strong demand for accessible and reliable crypto education.

Additionally, KuCoin addressed over 1.5 million user inquiries in the first half of 2024. This effort helped users find answers about crypto trading. The types of questions have evolved, reflecting a growing sophistication among users. It’s becoming easier for beginners and intermediate traders to use the platform.

Alicia noted a decline in questions about Google 2FA (two-factor authentication) over the past three years, indicating that users are becoming more knowledgeable. Meanwhile, inquiries about advanced trading strategies have increased. Users are shifting their focus from short-term gains to long-term investment strategies.

The questions KuCoin receives are increasingly related to Know Your Customer (KYC) processes and consultations about suspicious activities.

Debunking Common Myths in Crypto Trading

KuCoin also worked to clear up common misconceptions about crypto trading. Here are a few notable myths:

  • Myth 1: Trading bitcoin derivatives means shorting bitcoin. KuCoin clarified that futures trading allows users to take both long and short positions, giving them flexibility and liquidity.
  • Myth 2: Withdrawal issues mean exchanges are blocking access. Many delays come from network congestion, regulatory compliance, or security protocols, not from exchanges trying to restrict access.
  • Myth 3: Cryptocurrency is completely anonymous. While crypto transactions offer some privacy, blockchain technology is trackable. Authorities can trace illicit activities, debunking the myth of complete anonymity.

Prioritizing Security and Responsible Trading

Alicia emphasized KuCoin’s focus on security. The platform offers risk management tools like price protection, stop-loss/take-profit functions, auto-deleveraging (ADL), and address whitelisting. These features help users manage risk responsibly, reinforcing KuCoin’s commitment to a secure trading environment.

Initiatives for a Safer and Informed Community

To foster a knowledgeable and secure crypto community, KuCoin has launched several initiatives:

  • KuCoin Learn and KuCoin Campus: These platforms provide insights into crypto trends and industry developments for users worldwide.
  • KuCoin Ambassador Program: This initiative promotes knowledge-sharing in educational institutions and inspires the next generation of blockchain enthusiasts.
  • Learn and Earn Program: 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, technology, and transparency. This strategy aims to create a safe trading environment while equipping users to make informed decisions. KuCoin encourages users to follow safety practices, like verifying links before clicking them, safeguarding passwords, and using trusted third-party apps.

Commitment to Ongoing Education and Innovation

Looking ahead, KuCoin plans to keep investing in user education, support hackathons, and host campus workshops to nurture emerging blockchain talent. By focusing on knowledge, advanced tools, and user protections, KuCoin aims to build a resilient and informed community of crypto traders.