KuCoin was launched this September 15, 2017, and since then, the exchange Kucoin is gaining more and more popularity in the cryptocurrency world.
The 'People's Exchange' as it calls itself is based in Hong Kong and has a growing customer-base around the world. The website is available in different languages such as English, Chinese, Japanese, Russian, Portuguese, Dutch, Spanish, Portuguese, Korean and French.
The exchange aims to be user-friendly than any other traditional exchanges around and offers 24/7 customer support. It also provides its users generous referral commissions profit sharing where they share 90% of trading fees with KCS token holders.
KuCoin has also been known for listing cryptocurrency pairs before they hit other major exchanges.
It currently lists more than 50 coin pairs with BTC, ETH, NEO and USDT as base currencies.
KuCoin Shares
KuCoin has its own native cryptocurrency called KuCoin Shares (KCS).
KCS are ERC20-compliant built on the Ethereum Blockchain.
It currently has a total supply of 200 million KCS and the company will buy back coins every quarter using 10% of its profits collected from transaction fees.
Buybacks will continue until they reached a total of 100 million KCS destroyed which will eventually lower the total supply 100 million.
KCS tokens can be bought directly in the exchange through BTC, ETH and USDT.
KuCoin Cryptocurrency Exchange Platform
Kucoin claims to be a professional and reliable platform.
For reliabilty, the exchange uses data encryption, multi-level risk identification control, dynamic authentication and other transaction security systems.
Transactions are amazingly fast where blockchain-based assets are added to users account within 2 minutes only and withdrawals are completed within 10 minutes.
Customers funds are safe in KuCoin's wallet which includes multi-layer encryption, funds escrow, safe offline storage and regular auditing by the bank.
Also, the exchange will soon be available in Android and iOS devices.
Advantages of Using KuCoin
Kucoin has distinct operation strategies where they claim that their incentive policies can sustain active users and make the business even more solid. Their goal is to be one of the top ten exchanges in the world and their incentive and referral programs, and other features will help them drive that growth.
The exchanges ensures financial stability where they use advanced multi-layer and multi-cluster architecture. They also provide bank-level disaster-proof deployment with three centers in two locations which can do multitasking simultaneously.
It offers a high-performance trading engine which can handle 2 million order-making requests per second & 1 million order requests per second overall.
Its system security uses standard transfer encryption protocols in the industry. In general, they aim to offer banking-standard security and excryption.
In conclusion, KuCoin is a promising cryptocurrency exchange which offers an attractive reward system to its users. Users can earn money by staking KCS tokens and get 40% commission and discounts by referring a other traders to the platform. Also, 50% of its profits from trading fees are shared to users who hold tokens and another 40% to users who have successfully referred other traders to the platform.
The referral system is merely a powerful tool, among others to drive more traders to use the platform. The KCS token is also a very lucrative investment because if KuCoin succeeds in gaining more users in the long run, the coins value will rise as its supply decreases at the same time.