KuCoin Exchange is one of many cryptocurrency exchanges. The exchange launched in September 2017, so it is still pretty new at the time of this writing. They offer trading pairs against BTC, ETH, NEO, and USDT. This is pretty standard with the exception of NEO, which comes in handy if you are staking NEO and want to exchange your GAS for more NEO.
What Is KuCoin Exchange ?
KuCoin is a cryptocurrency exchange launched on September 15, 2017. The platform uses KuCoin Shares (KCS) in a similar way to Binance. You get a discount on trading fees when you use their KuCoin Shares.
Overall, they aim to be a more user-friendly exchange than traditional exchanges available today. The platform shares 90% of trading fees with users, for example. They also offer 24/7 customer service and generous referral rewards.
They has also been known for posting coin pairs before they hit other major cryptocurrency exchanges. The website features a list of coins scheduled to be added to the platform in the near future.
The KuCoin Shares/ Tokens
To make KuCoin exchange more effective and deliver greater value, its team released a fully decentralized cryptocurrency referred as KCS. This is the native asset on the KuCoin platform. KCS rides on the Ethereum platform as opposed to its platform. If you use KCS tokens on the exchange, it comes with massive benefits such as bonuses on the income generated from fees, special services, and reduced trading fees.
When KCS was released, KuCoin targeted the total supply to be only 200 million. This means that only 200 million KCS will ever exist in its network. The tokens were released in 3-phases; phase one (70 million), phase two (30 million) and phase three (100 million).
Benefits Of KuCoin
KuCoin aims to offer all of the following benefits:
Unique Operation Strategies: KuCoin claims that its incentive policies “can sustain active users’ enthusiasm and make the business even more vigorous”. Their goal is to become one of the top 10 exchanges worldwide, and they believe their incentive and referral bonuses, among other features, will help drive that growth.
Financing Stability: Kucoin Exchange uses “an advanced multi-layer and multi-cluster architecture”. They offer bank-level disaster-proof deployment with two locations and three centers capable of handling multiple tasks simultaneously.
High-Performance Engine: KuCoin’s trading engine can handle two million order-making requests per second, and one million order requests per second in general.
System Security: KuCoin’s system uses industry standard transfer encryption protocols. Overall, they aim to provide bank-grade encryption and security.
Deposit Fees: Free Trading Fees: 0.1% (Will charge from the asset you bought)
Highly Responsive Team
The KuCoin team seems strong, with many of the team members having a good amount of experience working in some impressive companies. The founders have been involved in cryptocurrencies since 2011 and they have a reasonable amount of experience in managing large projects.
Kucoin Exchange offers 24/7 customer support through WeChat, Telegram, Twitter, Facebook, and other platforms. From my own experience, they are fairly good at responding to the community, answering questions and solving issues that they have.
Pros and cons
Offers an exceptionally wide range of currencies.
Is an early adopter of promising new coins.
No verification required.
Additional features and benefits offered by KCS.
Cryptocurrencies only. No fiat currency accepted.
Conclusion to why Kucoin is the best cryptocurrency trading platform
Kucoin Exchange is utterly fascinating. The structure of KCS really supports the idea of blockchain, and shows the Kucoin is more interested in long term growth and contributing to cryptocurrency. Don’t get me wrong, they are going to make a fucking killing themselves, but it will be in a way that seems to benefit everyone.
Overall, 90% of Kucoin’s fees are going back to the community, and that (plus Binance’s sabbatical) will contribute to it being a top 5 cryptocurrency exchange in the world in the next 40-60 days. Guaranteed.