Note, January 3, 2018: since posting this KCS went up to $8 dollars from less
than 1 dollar. So it’s actually 8 times the gains now although I sold most when
it quadrupled.
situation on 3rd of January 2018
Some time ago I posted about Kucoin and
their lucrative bonus plan to attract new traders to their exchange. Well if you
shout out to others to go and join this new exchange you have to put your money
where your mouth is. I believe in having skin in the game. So I did put some
money (about 1.8K) into Kucoins and some (1.2 K) into other alt-coins
(about 3K total) . Since doing this I have tripled my investment to 9K.
How did I do this? Firstly I bought good alt-coins like Digibyte that
exploded recently. But the one thing that brought in most of the profits was the
Kucoin coin.
Kucoin redistributes 90% of their trading fees, giving this coin long term
value. 50%of this amount goes directly to holders of the KCS coin.
Have a look at this video to see how it all works.
My entry in KCS on 24/12
As you can see the value of KCS more than doubled in 3 days and it will
rise much more over the coming year as
Kucoin grows and more and more is traded
through their platform. Kucoin is also
buying back their own coin which will also increase the value of the coin
over time.
You can also see that the amount of KCS I’m holding has slightly increased
even though I didn’t trade it. That’s because I get paid daily some extra
KCS because of the profit sharing you get from holding KCS. That’s right
you even get KCS coins from holding KCS coin how good is that!
I’m always surprised that many people who ask me how to start mining coins are
willing to drop thousands of dollars into it without fully understanding how to
optimise to get decent results through mining (see how to cloud
mining)
yet when I mention easier and safer methods of acquiring coins they hardly give
it attention.
Though mining is good as a passive income builder at least if you know what
you’re doing to stay ahead of difficulty rises and costs you always lose your
principal or investment until you break even at which point you finally start
making money.
However buying Kucoin coins is almost
risk free compared to mining since you never lose your principal and can
buy/sell it at anytime. Yes the price can fluctuate but since the value is
related to the growth of the platform and the amount of transactions knowing
Kucoin just started it will go up. Every
day Kucoin pays out your share of their
profits across all the coins traded on their platform, this means that you are
slowly building up a diverse coin portfolio of different alt coins. And the
only requirement is to hold KCS coins.
Now KCS is still cheap and if the platform grows you will get paid in X
dollars per day as more and more is traded along with a steep increase in
price of KCS itself. Take Binance
for example on which Kucoin is modelled. It’s coin has already gone up 50x
since launch expect a similar growth for KCS.
The above references an opinion and is for information purposes only. It is not
intended to be investment advice. Seek a duly licensed professional for
investment advice.