One of the largest cryptocurrency exchanges KuCoin has introduced a Sub-Account feature.
From now, users are able "to create and manage multiple sub-accounts through a KuCoin Master account."
According to the official announcement, the major functions of Sub-Account are:
- Each Master account is allowed to create up to 100 Sub-Accounts.
- A Master account is assigned the full management permissions over Sub-Account freezing/unfreezing, asset transfer and API management.
- No fee charges for assets transfer between Master Account and Sub-Account.
- The level of transaction fees for Master Account is calculated based on the total transaction volume and the total KCS holding amount of all its Sub-Accounts in the last 30 days. The Sub-Accounts enjoy the same fee level of their Master Account.
The exchange highlights the trading fee level of sub-account will be updated at 10:00AM(UTC+8) the next day by aligning with the master account.
Last year, KuCoin entered into a collaboration with an EU financial institution Simplex Inc. to allow its clients to purchase crypto with credit & debit cards
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