KuCoin exchange is gaining more and more attraction, but still got plenty of room to grow. It’s a relatively new exchange with its own token, KuCoin Shares (KCS), which launched in late September. They’re often compared to Binance, because they have a lot of similarities and I do see it as a valid competitor with some great benefits.
Just about 6 months ago, Binance was launched and now it’s already the largest cryptocurrency exchange in the world, based on 24 hour volume (exchange volume rankings). Binance has reached this through their unique business model of aggressive marketing, many new listings, promotions and competitions. KuCoin got an almost identical approach, listing a lot new cryptocurrencies (for instance the first to list Red Pulse) and also run different promotions, trading competitions etc.
Just like with BNB, you can bring down trading fees on the platform with KCS. You’ll get a 1% reduction on the existing standard 0.1% trading fee for every 1,000 KCS you hold, up to 30% with 30,000 KCS. However, KuCoin takes it even further with their token and share a large portion of the trading fees with holders of KCS (50%). That’s the main thing that separates KuCoin from Binance and why I think it deserves some attention.
KuCoin profit sharing
- KuCoin shares 50% of the trading fees with KuCoin Shares (KCS) holders (daily payouts)
- KuCoin shares up to 40% with users recommending others to trade on KuCoin exchange
- Directly invited: 20% of the trading fees
- Second degree: 12% of the trading fees
- Third degree: 8% of the trading fees
Daily earnings with KuCoin Shares (KCS)
As of writing this, the volume the past 24 hours is 64,818,702.77 USD (approx. 4,734 BTC). In this calculation, we’ll see how much you would earn daily, if you’re holding 1,000 KCS and the volume stays the same.
Trading volume past 24 hour: $64,818,702.77
Trading fees collected: $64,818,702.77 * 0.002 (0,2% - 0,1% from both seller and buyer) = $129,637.41
50% profit sharing for KCS holders: $129,637.41 * 0,5 (50%) = $64,818,70
Circulating supply (atm.): 91,043,076 KCS
Your daily earnings: $64,818,70 * (1,000/91,043,076) = $0.71
1,000 KCS cost $3,810 ($3.81 * 1,000) right now and with the current volume, that would pay out ($0.71 * 365 = $259.15) per year, which is a ($259.15 / $3,810 * 100 = 6,8%) yearly yield.
That might not seem like that much in the cryptocurrency world, but remember you’re being paid in a wide variety of cryptocurrencies and most likely many among those will increase in value. Besides that, KuCoin exchange has been growing a lot lately and hit a milestone of 200,000 users in December 2017. If they continue like that, you can imagine how the daily payouts would keep increasing and also push the price of KCS up.
If you found this information interesting and want to sign up on KuCoin, I would appreciate if you use my referral link or code below.
www.kucoin.com or use my invite code manually at signup: E4Ve6b
