Investing in digital assets has become an attractive option for crypto investors in earning passive income. KuCoin token is one such asset
In this article, we will provide you a comprehensive guide on do’s and don’t of investing KuCoin Token. Whether you’re a novice or a master of this trade, we have you covered with ease.
Get ready to embark on your quest for knowledge.
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Introduction to KuCoin Token (KCS)
KuCoin Token (KCS) is the native token of KuCoin. KuCoin is a secure cryptocurrency exchange that allows investors to trade, buy and sell hundreds of digital assets like Bitcoin.
In 2017, this native coin was launched to facilitate users of the platform to get a share from half of its total earnings. It was issued as an ERC-20 token on the Ethereum network.
At the of its launch, KuCoin announced that its key priority would be to empower KCS, making it the underlying fuel and general token for all digital assets of KuCoin in the future.
The KuCoin Exchange itself is a cryptocurrency exchange that has its headquarters in Singapore. It was co-founded by Eric Don, Jack Zhu, John Lee, Linda Lin, Michael Gan, and Top Lan.
The Genesis of KuCoin Token
You might now have got a fair idea about KCS. You’re ready to learn more about its history, vision, and objectives.
As we have already said earlier that having launched in 2017, KCS was aimed to facilitate the profit-sharing model between the KuCoin exchange and its users. Since then, it has become one of the top five cryptocurrency exchanges globally.
With this pace of growth of the exchange, KCS broke all records in 2021, when it reached $28.8. As time has progressed, the platform has shown that it is capable of making its native token as stronger as ever.
How KuCoin Token Works
KCS is the native coin of KuCoin, but how does the token work? KuCoin runs a website along with a mobile app to facilitate trading of its native coin and hundreds of other digital assets.
To start trading, users have to create an account without needing to verify their national identities; only an email address suffices. But it is at the option of each user to turn on two-step verification for added security.
Besides, advanced features of the platform are not available to unverified users. This way, it is recommended to inventors to have their accounts verified.
We will look at more benefits of holding KCS, but first let’s review its tokenomics.
KCS Tokenomics
At the time of its issue, KCS had an initial circulation of 200 million. According to the KuCoin Foundation’s whitepaper, it plans to gradually reduce the coin’s circulation to only a hundred million. The measures to go about this include repurchasing and burning.
The initial distribution of the token looks such that half of the tokens were given to early participants and the more than 30% of them were allocated to the founders and the project team.
KCS has a deflationary mechanism apart from its regular repurchase commitment. Its deflationary mechanism plans to introduce EIP-1559 that includes two types of fees: a base fee and an inclusion fee, also called a priority fee.
The base fee will be adjusted according to the network traffic and the priority gee will go to the miners.
Benefits of Holding KuCoin Token
There are many benefits of holding KCS, including trading fee discounts and the opportunity to participate in different events.
KCS as a utility token is used to pay trading fees on the KuCoin Exchange. It is interesting to note that the platform allows discounts on trading fees as high as 80%.
Participation in different events is another benefit that holders of KCS can enjoy. One such event is KuCoin Spotlight, where sales of tokens take place.
Other exciting events on the platform include LockDrop/BurningDrop on the pool-X platform.
But this is not all. Holders of KCS can become VIP users of the KuCoin Exchange and can thereby unlock lower maker and taker fees.
Perhaps the best of all benefits is the KCS Bonus program, in which users who hold six or more tokens become eligible to earn KuCoin’s daily trading fee revenue. Based on your number of KCS held and trading volume, your rewards have sky as the limit.
Lastly, there are year-round discount promotions when you pay for shopping in KCS, including hotel bookings and buying gaming products.
Acquiring and Storing KuCoin Token
If you plan to purchase KCS for investment or trading, we have compiled a detailed step-by-step guide to make your journey easier.
You can buy KCS from KuCoin Exchange itself and also from a bunch of other crypto exchanges. To buy KCS from KuCoin, follow these simple steps:
- First, create your own for free on KuCoin. You’ll need a working email address or a mobile phone number. Remember to create a strong password to protect your account and investments.
- This step is not mandatory, but is strongly recommended. To ensure high security, enable Google two-factor authentication and verify your account.
- Now, add details of your debit or credit card to your account information. You can also use bank transfer as a payment method.
- Here comes the main step. You can buy KCS using debit/credit cards, KuCoin’s P2P or Spot Market, or by using third-party payment processors.
- Transfer your coins to your crypto wallet, bank account, or simply keep it in your KuCoin account.
It is not considered the best practice to keep crypto on the exchange. The most preferred way is to keep KCS in a crypto wallet, as you won’t lose it if the exchange ever goes bankrupt.
KuCoin Token in the DeFi Ecosystem
Unlike traditional finance, DeFi is an ecosystem of P2P finance applications that can be used without any intermediation. You can participate in many DeFi protocols on KuCoin using KCS.
Top performing DeFi protocols on KuCoin include native coins of Avalance, Uniswap and Maker.
KCS holders gain exclusive early access to token sales of high quality blockchains, including DeFi protocols. This is part of the platform’s KuCoin Spotlight program, as early investors have the opportunity to enjoy higher returns than those who invest in secondary markets.
Market Analysis: KuCoin Token’s Performance
In the world of cryptocurrency trading, it is crucial to choose the right exchange platform.
The value of KCS has more than tripled since it was first launched in 2021. It has become one of the best performing utility tokens. The exchange is on its way to buying back its tokens every quarter of a year.
That means the market performance of the token looks promising in the future. According to CoinMarketCap, KuCoin is a top five crypto exchange. Besides, Forbes Advisor has called it one of the best crypto exchanges in 2021.
As KCS is adopted by the Proof of Staked Authority (PoSA) algorithm, we can say that KCS offers low latency and high stability for its users.
On March 26, 2024, two of its co-founders were charged with failure to maintain an adequate anti-money laundering program.
While exchange tokens of other platforms like Binance (BNB) and FTX (FTT) share many similarities, each coin has its unique capabilities. BNB by far has the largest market cap at over $50 billion. KCS has the lowest of three at $1.5 billion.
Yet, KCS lands in the top 60 coins with a daily trading volume of over $60 million.
Future Roadmap and Prospects
While KuCoin does not publicly disclose its future roadmap and commitments, it does share its vision and mission in its About-Us section.
Recently users were concerned that the platform had shared the user data with the Indian government. The exchange platform then responded to these concerns on X (formerly Twitter) that its mobile app is available on Google Play Store and Apple App Store in India.
To a user’s comment, it replied “We prioritize the security of our users’ assets and privacy.” If that is true, then there is nothing to worry about, it seems.
KuCoin has become one of the first crypto exchanges to register with India’s Financial Intelligence Unit (FIU).
At the time of writing, the live price of KCS was $9.71 with a total trading volume of 1.09 million in the last 24 hours.
Conclusion: The Strategic Value of KuCoin Token
KCS plays a key role in the KuCoin exchange. It not only works as the utility token, but it also provides its holders with a range of benefits. That’s why it is highly popular with both beginner and experienced traders.
The discounts and staking with DeFi protocols are attractive features that are loved by many. While the platform has been in the news for not very good reasons, but so far the market confidence in the platform has remained unmoved.
For this reason, KCS is expected to continue its trajectory of being one of the popular coins of crypto exchanges.
We Coin-Labs.com provides only objective information about KuCoin Token (KCS).
Therefore, we are not responsible for the investment decision in KuCoin Token (KCS) and the resulting loss.
KuCoin Token (KCS) Basics
Here are some factors that investors should consider before investing in KuCoin Token (KCS).
| Cryptocurrency Features | KuCoin Token (KCS) (KCS) |
|---|---|
| Publisher or Developers | KuCoin |
| Headquarters (Registration Number) | |
| Symbol | KCS |
| Platform | |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | 170,118,638 KCS |
Reliability Score of KuCoin Token (KCS) in 2024
These are indexes mesuring the investment reliability of KuCoin Token (KCS) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 2 Exchanges |
| Number of Available Pairs Worldwide | 51 Pairs |
| Market Cap of the Cryptocurrency | 950,143,577 USD (Rank #64) |
The table above shows the result of investment suitability evaluation for KuCoin Token (KCS).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
KuCoin Token (KCS) Price
Here are the price and recent trading volume of KuCoin Token (KCS). (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of KuCoin Token (KCS) |
|---|---|
| KuCoin Token (KCS) Price | 8.874 USD |
| Price Change 24h | 0.01% |
| Price Change 7d | -0.78% |
| Trading Volume 24h | 670,591 USD |
| Trading Volume Change 24h | -70.62% |
Cryptocurrency Metadata
You can check the development status and social media information of KuCoin Token (KCS) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://www.kucoin.com/ |
| 📖 White Paper | https://www.kcs.foundation/kcs-whitepaper.pdf |
| 🛰️ Source Code (GitHub) | |
| https://twitter.com/kucoincom | |
| https://reddit.com/r/kucoin | |
| 🎺 Message Board |
Where to Buy KuCoin Token (KCS)
Here are the top ten world crypto exchanges where traders can buy KuCoin Token (KCS) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/KCS-USDT |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Listed | https://www.bybit.com/en/trade/spot/KCS/USDT |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of KuCoin Token (KCS)?
KuCoin Token (KCS) price today is 8.874 USD. Furthermore, the price of KuCoin Token (KCS) has fluctuated by 0.01% from 24 hours ago, and by -0.78% from a week ago.
Where is KuCoin Token (KCS) listed?
Currently, it is listed on a total of 2 among the world top 10 exchanges.
What is the market cap of KuCoin Token (KCS) now?
Currently, KuCoin Token (KCS) has a market cap of 950,143,577 USD, which is ranking 64 among cryptocurrencies worldwide.
How much is the trade volume of KuCoin Token (KCS)?
Currently, 120,309,933 KCS coins are circulating through 51 market pairs. As a result, in the last 24 hours, 670,591 USD of KCS coins were traded in the market.
