KuCoin, also known as People’s exchange, is a user-friendly and secure platform that provides several trading options to its There are six million worldwide users. It’s one of the most popular crypto trading platforms with its native cryptocurrency KuCoin Shares Token (KCS), based on the Ethereum blockchain (an ERC-20 token).
You will receive significant trading fee discounts if you purchase the KuCoin native token (KCS). KuCoin holders who hold over 6 KuCoin tokens receive an additional daily dividend called the KCS Bonus.
KuCoin can be a potential investment. This KuCoin review will assist you in making a decision. Learn everything you need about KuCoin, and how to purchase the KuCoin token.
Let’s start by looking into the KuCoin token’s The pros and Cons.
Pros
- Rewards on KuCoin exchange
- Kucoin Exchange, an international, stable exchange, is connected to it.
- KuCoin tokens are available for purchase without the need to do KYC
- Take advantage of the advantages offered by stakes
- KuCoin Spotlight Exclusive Access
- Discounts on trading fees.
Cons
- Unpredictability in the cryptocurrency market
- Only a handful of pairs are offered outside of the local exchange.
KuCoin Exchange and KCS Features
Kucoin Exchange is based in Seychelles and licensed by the Seychelles regulator; however, the company’s main operational center is in Singapore. KuCoin operates in over 20 countries across North America and Europe.
A team of blockchain and crypto professionals developed the exchange. Its ICO (initial coin offer) saw 200 million KCS tokens sold. KuCoin launched in 2017. It has a roadmap to develop the platform until 2024. This includes future updates, a larger user base and other improvements. In the same year, KuCoin developed and released its native token – KuCoin Shares(KCS).
KuCoin offers bank-level security and an easy interface. It also has a beginner-friendly UX. There are many crypto services available: instant exchange services, margin and futures trading and P2P trading. You can buy crypto with fiat currency such as credit card or debit card. Earn interest in digital assets through crypto lending and stake via the Pool-X.
KuCoin Token (also known as KuCoin shares (KCS)), an ERC20 token that is available on the Ethereum blockchain, can be described as KuCoin Token. KCS gives its users privileges such as lower trading fees and bonuses, rewards, or other perks. It can be used to pay for trading fees and staking rewards as well as make reservations or purchase. What’s unique about KuCoin is that they share 50% of their overall trading fee revenue with users holding the KCS token.
What does it mean?
The KuCoin token is deflationary, with the exchange implementing token burn and removing assets from circulation corresponding to KuCoin’s long-term vision of making the supply constant at 100 million. Through the blockchain explorer, you can see all buy-back records.
KuCoin’s KuCoin Exchange offers a bonus program that rewards users who keep their KuCoin KCS. The reward is determined by the user’s overall exchange activity and the number of KCS held.
KCS owners enjoy a number of benefits including commission income and reduced trading commissions. Participants in the KuCoin institution investor program receive significant trading fees discounts.
According to KuCoin, the plan of buyback disposal was issued. This plan aims at maintaining a market share of 100 million tokens. According to KuCoin, the company will use 10% of each quarter’s net profit to buy KCS back and destroy it.
Traders can use the KuCoin token KCS to “activate” a 1% to 30% discount on all trades, proportional to the number of KuCoin shares held. The exchange can adjust its fees depending on market conditions.
Four Steps to Purchase Kucoin KCS Tokens
KuCoin and BitMax are the most popular cryptocurrency exchanges for KuCoin. KuCoin has the best KCS trading pair availability.
However, to buy KCS on major exchanges like Binance or Coinbase, you’ll need first to purchase a major cryptocurrency first and then use it to buy a KuCoin token.
These are the steps you need to follow in order to purchase KuCoin tokens (KCS).
Step 1: Select a Cryptocurrency exchange
You must compare the cryptocurrency exchanges’ features before choosing the one that suits your investment needs best. You should also consider local regulations, support deposit options, fees for trading, customer service, ease-of-use, technical assistance, as well as the cost of transaction fees.
However, buying KuCoin’s native token on the KuCoin platform seems more intuitive. KCS can be purchased by trading a stablecoin such as USDT or Tether USDT if you want to trust another platform.
Step #2: Create an account
To buy the KuCoin token on its own exchange, you’ll need to register a KuCoin account on kucoin.com. Either an email address, or a telephone number can be used. The registration is quite straightforward and doesn’t require personal information or KYC (know your customer) verification. Input your e-mail address and click the “Send Code” button. The email verification code will be sent to you shortly. After that, copy the verification code and then wait for it to arrive in your mailbox. Then set the login password, read through and agree to the “Terms of Use,” click the “Sign Up” button to complete your registration. You will need to wait for an SMS code to reach your mobile phone before you can register.
For KuCoin token purchases on another platform, you may also be able to use your telephone number and email address. Ensure to follow the platform’s requirements.
Step #3: Deposit the funds
The next stage is to deposit funds in order to buy KCS or other cryptocurrency. KuCoin allows you to trade KCS with any crypto currency, such as Bitcoin (BTC), Ethereum(ETH) or USDT. You can fast buy USDT with fiat currency through a credit or debit card directly on KuCoin’s exchange; purchase it directly from verified holders or through a 3rd party using a payment channel.
The platform doesn’t support direct wire transfers, but it’s possible to buy crypto with fiat currencies through a third-party app. The platform can also accept credit cards or debit cards as well Apple Pay, Google Pay and other payment methods, although the fees are often quite high.
If you have a cryptocurrency wallet, your KCS purchase is easy and quick. There are many trading pairs for KCS on KuCoin, however you may have less options on other platforms.
Once you select the most convenient payment method, it’s high time to buy KuCoin token KCS.
Check the KuCoin Price Today. But, the price is not indicative of a future trend.
Step #4: Buy KuCoin KCS Token
If you’re a KuCoin exchange user, you can enjoy a wide selection of trading pairs.
Once you have purchased USDT, navigate to the USDT/KCS pair. You will need to enter the USDT amount you wish to trade and then execute the trade. Congratulations!
Now that you’re a proud owner of your personal KuCoin let’s look into different options to use your coins and decide which one suits your needs best.
KuCoin Tokens – What Can You Do?
You have many options for how to put your KCS into good use. The cryptocurrency market can fluctuate so the best strategy for you might not be the right one. Do your own research before considering an investment, as this review doesn’t constitute financial advice or any other kind of advice.
1. The stake
Staking is a popular option, where your crypto funds don’t just lay around but bring you idle profit. Staking is an option offered by many cryptocurrencies, though not all traders know how to use it. Staking means making the coins “work for you” and earning you rewards in return for locking them temporarily and letting the platform use them for its needs. The process is similar to having a savings account. There’s a trust element involved, just like you trust the bank to govern your assets while you hold them “locked” in a savings account, and they provide you with yield in return. To get an annual return, you can stake by locking in a set amount of KuCoin coins.
2. HODL
You can hold onto your crypto assets if they go up in price. For cryptos that are well-established, however, it is less likely to see a triple-digit price increase. In the meantime, an incremental price rise could be possible.
KuCoin token KCS can be purchased and stored away. It is essential to protect the asset from anyone. A private wallet should be created with your unique keys. It depends on what your investment preferences are. You might decide between software and physical wallets. However, the former is safer.
Hardware wallets
Hardware wallets or cold wallets are devices that store the private keys needed to send or receive crypto. A hardware wallet is the most secure way to store your crypto because it offers offline storage. This significantly lowers the chance of hackers stealing the data. The pin secures the wallet and erases all information after several failed attempts. This prevents physical theft. The hardware wallets allow you to sign and confirm transactions via the blockchain. This gives you additional protection against cyber attacks.
The most secure and reliable hardware wallets, Ledger Hardware wallets allow you to securely store your KCS tokens.
You believe that KuCoin storage will bring you great rewards.
3. Selling
The same steps can be used to cash out KCS coin with the exact same exchange that you purchased them. It is possible to sell your altcoins for Bitcoin, Ethereum or USDT, and cash it out in fiat currency.
Remember to always do independent research and get your own advice. Only invest the amount you are able to afford.
This review should have answered your questions regarding KuCoin’s exchange or how to purchase KuCoin token KCS.