They are numerous crypto exchanges out there but they are few trusted exchanges. If we should list all trusted crypto exchanges out there, we would never forget to include Kucoin exchange due to its uniqueness and quality of service.
They are few crypto exchanges that does what Kucoin is doing in the blockchain community. Apart from being an exchange Kucoin treat every user like a VIP because they have high regards for their users which none of other exchanges does.
In this blog article we’ll be sharing with you many hidden feature about Kucoin and how you can earn passive income on the kucoin platform via its Exchange token, KCS. Let’s dive right in.
What is Kucoin
KuCoin is a worldwide cryptocurrency exchange that enables 8 million customers in 207 countries and territories with Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending. KuCoin ranked 5th on CoinMarketCap.
KuCoin believes that technological progress will revolutionize the way we create and distribute value. One day, everyone will be involved with crypto. As a company, Kucoin have a goal of helping its customer achieve their financial dreams by offering feature that help manage user portfolio to reduce or eliminate lost of money so as an Investor Kucoin is the best exchange to manage your Portfolio. Register an Account Now.
Features of Kucoin Exchange
One cannot say everything about Kucoin without mentioning its amazing features. The Kucoin crypto exchange features some of the amazing areas of cryptocurrency trading on their exchanges which allows users to gain full advantage of the Blockchain. Below are some of the great feature of the Kucoin Crypto Exchange:
Spot Trading: Spot trading is the ongoing process of buying and selling tokens and coins at the spot price for immediate settlement in the realm of cryptocurrencies. A trader seeks to profit from cryptocurrency market swings by trading tokens on a spot market.
Margin Trading: The term “margin trading” refers to the practice of borrowing cash in order to trade financial assets with a comparatively smaller amount of capital in order to achieve larger returns.
Futures Trading: Futures enable investors to protect themselves against turbulent markets by ensuring that they may buy or sell a certain cryptocurrency at a predetermined price in the future. Of course, if the price changes in the other way, a trader may end up paying more for cryptocurrency than the market price or selling it for a loss.
KuCoin Earn: KuCoin Earn is a one-stop wealth management service platform created by KuCoin. Users can use various financial products to increase the value of their holdings.
Crypto Lending: Crypto lending is a Kucoin investing method that allows users to lend Cryptocurrency in return for interest rates on the amount lent. It works similarly to peer-to-peer lending.
Trading Bot: KuCoin offers the facility of Trading Bot that makes it easier for users to trade. KuCoin Trading Bot also provides long-term trading techniques. Instead of investing tens of thousands of dollars in a cryptocurrency all at once, consumers may direct the Trading Bot to invest smaller sums over time.
What Is KuCoin Token (KCS)
KCS is KuCoin’s native token, which was created in 2017 as a utility token that allows traders to share in the exchange’s growth. It’s now available as an ERC-20 token on the Ethereum network, and most Ethereum wallets support it.
KCS will be the native asset of KuCoin’s decentralized financial services as well as the KuCoin community’s governance token in the future, as the KuCoin decentralized trading solution goes online. The overall supply of KCS was set at 200 million, with a repurchase and burn plan in place until only 100 million left.
As the foundation of the KuCoin ecosystem, KCS will be the fuel and native token of KuCoin’s decentralized goods, which will benefit KCS holders and ecosystem builders.
Is KCS an Exchange-Token Worth Investing in?
Yes!. Just like every other exchange token, KCS is valuable and should be considered as a good investment choice.
The KCS Whitepaper highlighted that, KCS will build a payment system and a web3.0 ecosystem to empower KuCoin’s web 3.0 strategy, by exploring and implementing the following areas: DIDs, NFT ownership rights, management and transaction, and construction of metaverse network platform.
Only Few Exchange tokens can boast of such Developmental progress. This is another reason why 50% of my portfolio is banked on the KCS Token.
How Does KCS Works
Apart from the fact that KCS is the official Exchange token, they’re other amazing ways KCS functions and the most important one to mention is the KCS Bonus incentive mechanism that pays investors daily by Holding Minimum 6 KCS Tokens.
These rewards are a direct reflection of the exchange’s performance in terms of transaction and trade volume. The higher the daily rewards pool, the more trading fees the site gets. The amount of dividends paid is proportionate to the number of KCS held.
For example, if you hold 10,000 KCS and the exchange collects 20 BTC in trading costs (0.1 percent of daily trading volume), you would get 0.001 BTC converted to KCS each day (20 multiplied by 50 percent of the total amount) if the exchange earns 20 BTC in trading fees. The rewards are computed for each token pair that is listed on KuCoin, and although they are often distributed in KCS. The rewards are processed immediately each day at 02:00 (UTC +8), and it may take up to 24 hours for the bonus to be credited to your account.
What Can KCS Be Used For?
As a utility token, KCS may be used for a variety of purposes. KCS may be used to pay trading fees on the KuCoin Exchange, letting users to get a 20% reduction on their trading costs. Token sales on KuCoin Spotlight and LockDrop/BurningDrop on Pool-X are further examples of how KCS may be used.
In addition, there are other applications for KCS as a payment mechanism, including the following:
- KCS can be used to make hotel reservations on Travala, the leading blockchain travel booking platform.
- KCS is able to serve various offline and online payment scenarios via Pundi X.
- Use KCS to buy monster card packs on Splinterlands.
- SwirlPay, a decentralized payment service, supports KCS payments.
- PlayGame, a direct-to-play gaming platform, enables users to play games with KCS.
- Purchase fashionable products on Print-ted with KCS.
- Collateralize KCS to borrow US Dollars (USD) and Vietnamese Dong (VND) on Constant.
- CoinPayments, a borderless online payment platform, accepts payments in KCS.
- BetProtocol added KCS as the main token used on their gaming applications.
How to buy KuCoin Token (KCS) on KuCoin
Below are the easy step on How you can Purchase the KCS Token:
- Create a Kucoin Account by Following this Link
- Make deposit to your Kucoin wallet via Fiat or Crypto
- Select the currency pair of your choice. examples are KCS/USDT, KCS/ETH, KCS/BTC
- Set Your buy Limit and Click the Buy Button
P.S: Remember to Transfer your KCS token to your main wallet to be eligible for the KCS Incentive Bonus