📖 [Coin overview #1] What is KuCoin (KCS) | Worth investing?
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1. Scope
KuCoin is a cryptocurrency exchange based in Hong Kong. If you have no idea what KuCoin exchange is read my post about KuCoin Exchange
2. Background
KuCoin exchange wants to improve user involvement and exchange vitality, so they decided to give users a lucrative award incentive bonus which I will explain bellow. The exchange launched their own cryptocurrency known as Kucoin Shares or KCS for short, a decentralized cryptocurrency issued on the basis of Ethereum. KCS supports all the Ethereum wallets.
3. Circulating supply
KuCoin maintains a total issuance volume of 200 million. After buy-back disposal, it will be a constant - 100 million.
4. Award bonus
The award system equals to 50% of the total trading fees charged on the platform. These fees are now paid to KuCoin holders daily.
5. How to obtain the daily bonus?
To obtain the daily bonus, users would need to deposit their KCS into Kucoin Platform. Then the platform will conduct accounting and award bonus based on to the KCS holdings in user's account at 0:00 (UTC+8) that day and all the trading fees charged to the platform on the previous day.
6. How is the bonus calculated?
The bonus gained by users will directly put to their Kucoin accounts in the corresponding currency. Which is 50% of the 0.1% transaction fees divided by 100million tokens holders. This bonus is payed by the traded cryptocurrency.
Calculate here: https://kucoinshares.com/
7. Trading fee discount
When placing orders to trade, holding a certain amount of KCS in Kucoin account can lower the trading fee. For every 1000 KuCoins you receive 1% discount as a maximum of 30% on the 0.1% trading fees.
8. Other exclusieve rights:
At some point KuCoin will give free investment consultation customer service Fast-Pass, etc to KuCoin holders. This is yet to be announced.
9. Future Decentralized exchange system GAS
Kucoin team is dedicated to blockchain technology R&D and is planned to release decentralized exchange features in the future. As for KCS, it shall be the core fuel of this exchange system.
10. So is it worth investing in KuCoin?
The more the exchange grows the more volume it gets, the more payouts investors receive which will reflect on the price. In the whitepaper KuCoin states they plan on becoming a top 10 exchange in the world within two years. You might think this is far fetched and insane but what I see is a very ambitious CEO (Michael Gan technical expert of Ant Financial of Alibaba Group) who knows his shit with marketing. If the exchange keeps issuing coins as fast as they do right now and keep the fees and bonuses lucrative and scalable they might just pull it off.
Why? Because of the affiliate program. Don't underestimate a good marketing tool. Look at Bitconnect, nobody knows how it works, who owns it or where the money comes from but it's on the top 10 cryptocurrencies. Here we have KuCoin who are as transparent as they can be making it happen. They are not going anywhere.
So is it a good investment? I personally have a vision of cryptocurrencies valuing a global trillion market cap, while KuCoin will be a platform that trades thousands of coins. I will never have FOMO or FUD because holding the coins gives me every other coin on the platform without doing ANYTHING. It will be like mining thousands of coins everyday. -Passive income
When my children ask me in 10 years how daddy pays for everything - I will tell them I was able to buy "shares" in some chinees exchange which is like owning a bank in the future of blockchain. -Or I will lose it all, but I won't look in the mirror asking "what if".
When KuCoin will get traction in the upcoming weeks, we will see YouTubers, bloggers and ads advertising the exchange because it's profitable and most of all, EASY gains. In addition it is the only exchange trading Red Pulse Token at the moment. Yesterday they had a daily volume of 2 Million, today it's 6 Million. Next month? Probably more.
If you want to buy KuCoins you can buy them from KuCoin Exchange
Source: https://assets.kucoin.com/kucoin_whitepaper_en.pdf
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welcome on board
Great post brother keep up the good work!
nice post!
Thanks!
@thunderland: This comment is for your benefit so you don't find others downvoting or flagging you.
I have noticed that you have made a number of very short comments on other blogs, which are similar in style to the one above. They don’t really add anything to the discussion of the topic.
Please help keep Steemit free of spam posts.
If you like a post, it is generally sufficient to upvote it unless you want to join in the debate.
Short comments like “awesome”, “nice post” “amazing post” or “really helpful” are generally not seen as part of the debate on the topic ,and if repeated across multiple posts, may be interpreted as spam.
Asking other people to upvote or follow you is also counter-productive and irritating. They may downvote, mute, or flag you.
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Don’t worry, I haven’t flagged or downvoted you. I’ll give you the benefit of the doubt that you were genuinely trying to encourage the poster. An upvote would have been sufficient.
I often reward intelligent comments. I have a lot of Steempower. An upvote from me is worth hundreds of times a normal upvote. I hope I can reward you for intelligent and thought provoking posts in the future.
(Other bloggers, please let me know whether you agree or disagree with my comment. If you disagree, feel free to upvote the suspected spammer....)
this is a amazing cryptocurrency project
thanks for sharing all this information about kucoin.
I'm very positive about the project :) thanks for the comment!
Awsome nice work you are too good with your work! but i want to buy space coin. but i need help from you @tuck-fheman is space coin legit.?
Hey thanks for the kind words!
I have not heard of space coin sorry can't help you with that ;)
very informitive post.. kucoin is an awesome trade platform.. i hold KCS and they pay me back every day.. and you get GAS for holding NEO also.. this exchange is GREAT!!!!
I have the following concerns:
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