Operating from Seychelles, KuCoin is a global cryptocurrency exchange ranked 3rd on CoinMarketCap according to trading volume. Since its inception, the exchange has generated substantial support from cryptocurrency enthusiasts for being the most exclusive platform for buying lesser-known, high-growth potential altcoins. The success of KuCoin can be attributed to its beginner-friendly and multilingual interface, localized customer support, and extensive reward programs. For instance, the KuCoin community members are returned 90% of all trading fees in the form of KCS, its native token.
What Is KCS?
KCS OR KuCoin token is the native ERC-20 token of the KuCoin exchange issued on the Ethereum network. The differentiating factor for KCS is that its hodlers get 50% shares of the platform revenue daily, depending on the size of their holdings. Besides, KuCoin offers its premium KCS holders reduced taker and maker fees, eliminating the need for a big BTC trading volume.
KuCoin has seen massive success in the past 33 months. Therefore, KCS holds the promise to become a lucrative investment option for the long term. Additionally, KCS tokens come with an array of real-world applications, from hotel bookings to borrowing USD. What’s better than that?
KCS Market Cap Comparison
KCS has a market cap of above 900 million and a circulating supply of above 80 million. If one is to consider KCS’ all-time high ($21) in reference to its dollar value ($11.42), the token has covered a 90% growth trajectory so far.
If you compare KCS’ growth trend to another popular exchange token like BNB in the past months, KCS is ahead by 36%. BNB’s market cap stands at 72.99 Billion, with its circulating supply at 168 million. Its current price is $448, with an all-time high of $686.
KCS is mooning with a positive growth curve. So, the time is ripe to invest in it for long-term benefits.
KCS Offers More Benefits to Hodlers Than Other Exchange-focused Altcoins
KuCoin distributes 50% of its revenues to its KCS holders. For example, a user having 10,000 KCS would receive 0.001 BTC worth of KCS every day, considering the platform collects 20 BTC. The bonus reflects within 24 hours.
According to the 2020 KuCoin annual report, a user received 70,000 KCS as a bonus. Now, where do you get that? No, this is not an implausible figure, considering the trading volume of KuCoin, which is on a steep rise. Currently, the APR of the KCS bonus is speculated to exceed 30%.
The eligibility criteria for receiving the bonus are:
- Users have to hold 6 KCS
- Users must activate their 2FA account
KuCoin is popular among users for curating exclusive lucky draws from time to time with special benefits to KCS holders. KuCoin Win is one such example. It gives users access to the initial token distribution of young blockchain projects that look promising. Participants get to chip in on a project early on at a lower cost and in a fun way.
Summing up the benefits of holding KCS:
- Users get cryptocurrency dividends.
- Users enjoy discounts on trading fees.
- Users can trade in additional trading pairs. This includes ETH, BTC, USDT, NEO, XRP, EOS, CS. GO.
- Better customer support
- Benefit from exclusive promotional activities for KCS holders.
- Holders can stake KCS in KuCoin Pool-X to gain yields.
Unlocking the KCS Referral Bonus: Up to 40% in Commission
Besides buying KCS on the KuCoin exchange via an order book, users can reap the rewards of referring KuCoin to their peers in KCS tokens. KuCoin allows its users to gain up to 40% of their invitees’ trading fees in KCS, effective for one year.
- A user first earns 20% of the trading fees of an invitee who makes an order directly through the link.
- They again earn 12% of the trading fees if new users sign up using the invitee’s referral link.
- If the new users round up more traders via the referral link, the first and the original affiliate (user) receive another 8% of the trading fees generated by this latest set of users.
The Use Cases of KCS Within and Outside the KuCoin Ecosystem
KCS holders can enjoy benefits like a 20% discount on trading fees. Besides, holders can participate and leverage the potential of new project tokens on KuCoin Spotlight and Pool-X.
Outside the KuCoin ecosystem, KCS tokens have an array of utilities.
- Print-ted is an online apparel store that accepts payments in KCS.
- MyConstant is a P2P lending service that accepts KCS as collateral for extending loans in USD and Vietnamese Dong.
- Gaming applications like BetProtocol, PlayGame accept KCS to unlock levels.
- KCS can also be used on Pundi X, a blockchain-based Point of Sale solution, for payments.
- Travala, a blockchain-based booking platform, accepts KCS for hotel reservations.
To counter the inflation that the frequent bonus distribution would cause, KuCoin buy-backs KCS quarterly and burns the tokens. 10% of the exchanges’ net profit is utilized to buy back KCS tokens.
The total supply of KCS is 200 million, and currently, 80 million are in circulation. KCS is also the gas fuel for the decentralized services on its developed decentralized exchange. and
KuCoin plans to develop KCS as a “killer product” rather than just a token. The benefits of holding KCS would be diversified further, and its success will correspond to the advancement of the exchange.
Conclusion
The value of KCS rose to $12.96 in April this year from $1.17, marking almost a 1000% increase and it’s currently trading at $17.02. The onward journey is even more promising as KuCoin announced that empowering KCS and its holders would be this year’s top priority. The KuCoin ecosystem is in its developing phase, and so is the number of KCS holders. Considering its features and growing popularity, the token is likely to enter a market cap among the top 10 very soon. All of this points to the possibility of KCS turning out to be a multibagger in the future!