April 20 2022
Kucoin Shares: Bask in the Glory and Earn From Exchange’s Success
KuCoin Shares is an ERC token coin that operates pursuant to the success of the KuCoin exchange. Cryptocurrency exchanges facilitate coin commerce but some have their own native coins. KCS is one such coin. There are certain incentives for exchange users to prefer this coin while transacting on the exchange.
Kucoin exchange is an international cryptocurrency exchange that has its headquarters in Hong Kong. The exchange is established and has over 200 digital assets which investors and users alike can transact in.
Kucoin is innovative In the sense that it shares about 50 percent of trading revenues with the holders of its native token. This is a great incentive to newcomers as it is a side hustle without requiring the user to have active involvement. Similar to Binance exchange, Kucoin exchange offers relatively low trading fees to users who hold or transact using the platform’s native currency.
This measure is excellent for both parties. For Kucoin, it encourages customer loyalty and increases investor pool. Meanwhile, investors get decent return for holding and transacting using KCS.
KuCoin Shares (KCS)
Kucoin Shares (KCS) is the native coin of the Kucoin exchange. Essentially, in a community members are able to profit concurrently with the exchange. Accordingly, the performance of the exchange and the success of KCS are inextricably linked.
This means that the exchange shares revenue among holders of the coin in a similar manner to how shareholders in a company get dividends. Hence, the name Kucoin shares comes about. Users earn dividends depending on the number of Kucoin they hold.
The distribution relies on a verification mechanism that essentially authenticates the coin holders to assess the amount of coin that they should receive. The payout system records user balances at the start of a business day and the accounting team evaluates trading pair fees.
Accordingly, you can notice each new day that your balance on the Kucoin exchange increases by the day. This holds even when your balance is in Bitcoin, Nano, Dragonchain, and any token of your choice. KCS therefore operates similar to a rewards system that is typical for Master nodes. You can earn an impressive amount of coin simply by holding KCS in your exchange wallet. At the time of writing, the price for a KCS token was 37 cents.
For every 1,000 KCS you hold, you get a one percent discount in trading fees. This discount increases gradually but there is an upper cap of 30 percent discount for holding 50,000 KCS. There are over 200 coins on the exchange and you can use KCS as a trading intermediary. The exchange has more than 10 language options meaning it is versatile for different users.
You can easily trade KCS for most significant coin pairs on the exchange. On matters privacy, KCS is excellent as it operates similar to bank standards in providing anonymity. There is additional asset and operational security. For KCS holders, you also get lower withdrawal fees and almost no systematic lags in approving transactions.
According to CoinMarketCap, there are about 180 million total KCS. This is significant because the KCS team decided to dedicate about 10 percent of Kucoin profits to buy back and destroy KCS until there are about 100 million left. A greater degree of scarcity will be better for coin prices. The two significant figures are Michael Gam and Eric Don, the COO.
You can buy the coin on the exchange official site. KCS is an Ethereum wallet and works with any ERC-20 compatible wallet. An example is MyEtherWallet. For safer storage you can store it in hardware wallets like Ledger Nano S but this would beat the purpose since KCS is rewards coin.
Last but not least, Kucoin exchange boasts of a user-friendly interface. This is important because cryptocurrency investors usually need charts and excellent display to guide them in making sound decisions all round.
The advent of exchange coins is an exciting development for cryptocurrency holders. KCS takes this convenience to a higher level by offering exceptionally decent returns to coin holders. KCS is a great coin to hold for the sole reason that market improvement will automatically boost coin prices.
This is because an increase in trading activity will be great for Kucoin exchange profits. The rest as they say is history. In summary, this is a novel reward system that makes this coin a decent investment option.