Hello everyone,
I'll start with the necessary confession: I feel strongly about kucoin as an exchange. I own somewhere between let's say 500 and 5000 Kucoin shares so granted I own a small but real part of their exchange as they are shares so ok why wouldn't I be ''shilling'' it hard ;) Guilty as charged... I'm gonna be writing a biased piece, but maybe it will spark some good discussion? NO REFERRAL OR ANY OF THAT WILL APPEAR I PROMISE;)
Now there's a reason why I own a ''relatively" high stake (which I am at current prices at a fair loss on in fiat currency, I'll explain why I am even now increasing my holdings and I think anyone not doing the same and selling at a loss well... looking at a few facts and considering some things before rushing into panic selling always works out better right )
Id like to add a few pro's and also a CON and to be fair there's another factor that some can consider a big con but that is really just a thing we can only speculate on at this point...(no info released to date by kucoin staff)
PRO
- my shares are paying out daily(had em for more then 50 days and they haven't missed a single day, clockwork really imo ) I also did the math three times now. The volume traded always corresponds with your kucoin bonus depending on the amount of shares you own(ofcourse the math is NOT 100 PROCENT GUYS but its pretty impressive how oiled the distribution machine is running though )
- I speak from experience here, but to my eyes this platform as a concept is hands down the best way to give back on crypto exchanges to date(I'd like very much for you to think about the idea and how it works very well allready despiyte how this exchange is still very much FLAWED yes ofcourse I won't deny that... BUT IT IS ALSO VERY YOUNG AND MOST PEOPLE SEEM TO FORGET THIS?
-The final and maybe the most interesting pro which I would like very much to hear constructive thoughts and criticism about! So by owning only a dozen or so kucoins you can and will(I have heard of people not being paid but AM 99.99 percent certain that the error is somehow on their part or perhaps a purchase of kucoin shares that they thought went through?)
Anyhow you earn a great variation in cryptocurrencies automatically! Both the ones that are virtually worth less than dirt AS WELL AS THE ONES THAT ARE ALREADY QUITE HIGHLY VALUED AND KNOWN the only difference is the amount ofcourse:)--->to my eyes this is a highly intelligent and also very innovating way of involving the trader(the customer so you) A KEY FACTOR of attracting people and presenting trading crypto as something that's not boring and all graphs and percentages.
They are paying all dividends in A GREAT VARIETY OF THE CURRENCIES they make available to purchase on their exchange(with a handsome amount of trade pairs to make things less tedious as well;) because your portfolio becomes DIVERSE automatically and let's be honest ... you never know if those 5 random ''shitcoins'' you received as a kucoin bonus today end up being worth a hundred USD in months or maybe less(I don't think I am exageratting here either or being too positive about the idea, coins going from basically being worth less than the dirt on your boots to a few dozen usd in weeks is definitely not uncommon, as we all know ''mooning'' in a week is just as common as blood in the streets every few weeks ... All constructive criticism is most welcomed if I am missing how this system is flawed?
Think about this for a sec? A beginning crypto investior has a small budget of only 1000 dollar. Let's say that sguy spends 400 now on kucoins .If he buys smart he can get em TODAy for under 7 USD for sure. That's 57 KCS right there! Now Kucoin keeps listing NEW COINS VERY CONSISTENTLY. This means that you will offten get coins at the VERY FIRST MOMENTS OF THEIR AVAILABILITY TO THE PUBLIC. So those ''measly''57 KCS at only 40 percent of his investment could potentially boost his budget tio buy from only a 1000 dollars to hundreds more in months (let's be real here this is the wild west of crypto, so if you are telling yourself that's not possibel now well think again because if you have been around for only a month or two you know that ANY coin that represents a project with solid tech can explode going from 5 cents to 5 dollars in days, hell sometimes mere hours, the people coming in just thesepast days are seeing all the blood)iHere's a nice fact too: I KNOW THAT THINGS CAN ROCKET IN HOURS BECAUSE I SPENT MY 750 EUROS iiCOULD AFFORD ON A LITTLE BIT OF BTC A LITTLE BIT OF ETHER AND ON 200 ANTSHARES AT LESS THAN 3 DOLLARS EACH... FEW DAY LATER I LOOK ON BITTREX BOOM... antshares are now neo and well they're worth a bit more then 3 dolla
Binance is a great platform and with regards to customer service and transaction speeds and just overall great user friendliness they take the cake... NO Question. But think of where BINANCE and the coin were less then 6 months ago....
Yes BINANCE IS BY FAR SUPERIOR TO KUCOIN.... but NOT at it's fundamentals, it merely had a headstart IMO.
Once kucoin gets properly organized, upgrades their speeds and adapts to its unexpected explosive growth£..that is when you'll realize what Binance is dreading now and what I and my friends in crypto are also thinking...
Kucoin is young and has some issues NOW, but when you look past those you just can't get around the fact that the IDEA OF THE KUCOIN SHARES is a far better one to build on and also commercialize rapidly then the platform Binance now is.
Is Kucoin the next big exchange and are it's issues merely growing pains? Please share your CONSTRUCTIVE CRITICISM AND IDEAS. THEY ARE VERY WELCOMED!
Best of luck to everyone who means well for the cryptocurrency community!