KuCoin is one of the largest cryptocurrency exchanges in the world which lists more than 400 cryptocurrencies and tokens. It is known to be exceptionally reliable, user-friendly, and secure among traders.
As we know that cryptocurrencies can be bought and traded on exchanges. Currently, there are around 303 cryptocurrency exchanges with a total market value of 2.5 trillion that are tracked by CoinMarketCap. And KuCoin ranks 6th among the top exchanges in the world with a total volume of $66 billion.
KuCoin was initially established in China, and it was later relocated to Hong Kong for better regulatory conditions.
The platform was created with the basic idea to counter the top exchanges in the cryptocurrency market and KuCoin shares were issued to fuel its economy.
This review of KuCoin Shares (KCS) was created for informational purposes. This article is not intended for promotion.
KuCoin competes with its competitors in terms of fees and various features that distinguish it from other exchanges. So, let us try to understand what the KuCoin ecosystem has to offer its users.
There is a core trading engine that can process millions of transactions at once. The exchange routinely adds new currencies after having a complete review of the project and its potential in the market. This, in turn, allows users to trade and have a diverse portfolio for themselves.
The platform follows the standard encryption protocol to hide and secure user data transferred from other users within the system. This helps create a safe environment for users to trade and not bother about losing their funds.
KuCoin takes various measures to secure the investments made by its users. A team of security experts is deployed by the vendor who periodically reviews user accounts, and any security gaps encountered in the process are filled by the experts.
The platform features an advanced application programming interface (API) that allows users to customize the system according to their needs. This API helps in configuring the backend code to customize capabilities such as custom reporting, automation, and unique workflows that serve an organization’s best practices.
The users on the platform can make trades instantly and without much effort with accelerated transaction processing. And this is possible because of the high liquidity rate and the well-funded market of KuCoin.
KuCoin Wallet allows users to trade cryptocurrencies with low withdrawal fees conveniently, and users only receive their daily dividends for KCS stored in the exchange wallet.
KuCoin aims to reform the cryptocurrency market and to achieve that, it has launched a few projects which will revolutionize various sectors of the blockchain arena. We have listed a few projects that can help you understand how KuCoin is creating a difference in cryptocurrency markets.
KuCoin Labs was established on April 15, 2021, to function as a research and development arm of KuCoin. Initially, KuCoin had formed an investment and incubation team, which later reformed into KuCoin Labs. Now KuCoin Labs includes a team of crypto experts who are well experienced in market research, analysis, investment, and incubation.
To find the next potential cryptocurrency and support such ventures in their preliminary stages, KuCoin has set up a $50 million fund. The team of specialists will identify high-quality blockchain projects and help them with marketing and PR support, business collaboration support, secondary market fast-track, blockchain technical support, legal advice, business planning, token economy design, etc. They will also provide direct investments in building projects at an early stage.
Currently, the portfolio of KuCoin Labs consists of over 50 ventures in infrastructure from DeFi, and NFT, which includes, Arweave, MultiVAC, CertiK, OneLedger, LUKSO, and Ankr.
KuCoin Win was launched on June 7, 2021, to offer participants the initial token distribution of promising blockchain projects at their early stage. The cost will be lower, the process will be fairer than other platforms, and distribution will entertainingly occur.
The first game product launched by KuCoin Win is “LuckyRaffling,” which introduces multiple game modes. On the LuckyRaffling page, you can choose prizes in exchange for pre-approved tokens like KCS to purchase lucky codes to participate in the lottery.
When the lucky codes are sold out, the system will randomly draw one as the winning code through an open and transparent algorithm, and the system will distribute the reward within three working days.
The initial project on KuCoin Win was Multiverse, which has built a decentralized AI ecosystem that enables the community in easy funding, training, and deployment of machine-learning solutions. Multiverse comes along with solid backing from ventures like Huobi Ventures, Matrix Partners China, Arrington XRP, and Fenbushi Capital.
Pool-X is a POS (Proof of Stake) mining platform supporting lockup crypto transactions which are incubated and independently operated by the KuCoin team. It was established in August 2019 to stimulate the future development of the PoS ecosystem.
There are numerous services offered by Pool-x, which includes Liquidity Trading Market, Node Supermarket, and other operational solutions.
POL (Proof of Liquidity) is a decentralized zero-reservation credit issued by the Pool-X platform and is based on TRON’s TRC-20 protocol. They have a total supply of 1 billion, and it was created to cope with the insufficient liquidity of staked crypto assets.
Moreover, Pool-X’s Liquidity Trading Market allows users to trade their staked assets with their non-staked, tradable counterparts just by paying a certain amount of Proof of Liqudity – POL for the trading fee.
The team of KuCoin has played a vital role in the development and growth of KuCoin and has experience in the blockchain markets since 2011. Michael Gan and Eric Don are the key founders, Michael is the CEO, who formerly worked as a technical expert at Ant Financial, Alibaba Group and has been a senior partner in MikeCRM and KF5.com and Eric currently CTO, has worked as a senior partner in major IT companies including Youlin.com, Kiteme, and Reiniot.
The rest of the team and co-founders include Top Lan as Vice-President of R&D, Ken Li as Vice-President of Security, Miles Mu as COO, John Lee as Vice-President of Business Development, Johny Lyu as Vic-President of Investment and Jack Zhu, Vice-President of Strategy.
KuCoin has plans to offer its users more investment tools such as Isolated Margin and Leveraged Tokens. They also plan on releasing KuCoin Risk Control System v.2.0 and New KuCoin Earn Product in Q3 2021.
KuCoin decentralized trading solutions based on KuChain will be launched by the end of Q4 2021. And this is being done after assessing all existing technologies and public chain ecosystems. The decentralized services will also include the unique KCS bonus plan.
KuCoin has a native currency called KuCoin shares, and it was launched to allow traders to share profit drawn from the KuCoin exchange.
Those who hold KuCoin are rewarded with daily dividends, which amount to 50% of the collected trading fees.
The size of the daily rewards pool depends upon the trading fees collected by the platform on a particular day. The amount of dividends paid is proportional to the number of KCS an individual holds. They also receive trading discounts and customer support fast-pass
Moreover, to receive a 1% discount on trading fees, you will have to hold a minimum of 1000 KCS coins, and the discount goes up to a maximum of 30%.
Every quarter, KuCoin utilizes 10% of its profits to buy-back and burn KCS tokens until there are only 100,000,000 of them left.
It is estimated that KuCoin is actively working with over 200 top blockchain projects, serving 6 million users worldwide. The number of fiats currently supported is 53, which is more than the previous year with 39.
Even though KuCoin encountered a complex APT attack in September 2020, it recovered well. It also improved and revamped its security systems and restructured the Security Team. And as the new Risk Control System will be released in September 2021, it will upgrade the KuCoin security system.
The KuCoin exchange is prevalent among crypto enthusiasts who wish to purchase cryptocurrencies at the beginning of their trading voyage. The trading fee stands at 0.1% of the amount you are purchasing.
However, with the rise of new exchanges, KuCoin now faces a lot of competition. The volume on KuCoin is currently low, so there are issues with liquidity on smaller cap coins. The platform interface can be a bit complicated for inexperienced users.
The company’s new roadmap aims to serve 12 million users worldwide with a daily volume of $5 billion.
KuCoin is a 3-year-old startup that grew into a rising star in the crypto world. It is often compared to more extensive exchanges like OKEx and Binance, which have grabbed a significant chunk of the daily trading volume. But we cannot deny the fact that the KuCoin team has played its cards right and has been catching up with the changes in the market, and there is more that is yet to be revealed.
Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.
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