Kucoin review by Alloy Press

0
20
Kucoin review by Alloy Press

KuCoin is developed on the Ethereum network, and KCS is one form of an ERC-20 token. It is the most widely used ERC-20 token and is popular worldwide. Let’s see short review of KuCoin

About KuCoin: Kucoin review

KuCoin was a utility token launched on September 15, 2017. The headquarter is located in Singapore and was founded by COO Eric Don, marketing director Jack Zhu, president of business operations, John Lee, operations and maintenance director Kent Li, chief legal consultant Linda Lin, CEO Michael Gan, and CTO Top Lan. KuCoin has an exchange as well as a token. It is developed on the Ethereum network, and KCS is one form of an ERC-20 token. KuCoin is the most widely used ERC-20 token and is popular worldwide. Among the 4:1 crypto holders is KuCoin. 

Is it safe to use?

KuCoin is safe to buy, but before buying the token, do your research. It has the brightest future and helps solve many transactional and financial issues. KuCoin standardizes crypto algorithms to keep user data and data transfers within the system private from other users. It employs a multi-cluster and multi-layer design that can support multiple transactions simultaneously, guaranteeing stable operation throughout each transaction.

Related: What are decentralized applications?

Burning mechanism of KuCoin:

The total supply of KCS has been set at 200 million, with a buyout and burn mechanism planned until only 100 million KCS remain. When the KuCoin decentralized trading officially launches, KCS will be the original token of KuCoin’s decentralized financial sector and the KuCoin group’s governance in the upcoming years. KCS will be the foundational fuel and general token for future KuCoin decentralized products as DEX and KuChain establish. 

How to buy KuCoin?

KuCoin can be bought on exchanges like KuCoin, Binance, Gate.io, HitBTC, ProBit, Bitmax, etc. The holdings of KCS have a high percentage return on income. Compared to other coins, KuCoin’s passive income is high. KCS Bonus is the most effective way to generate passive income. Users who own more than 6 KCS can receive a credit of 50% of KuCoin’s daily trading transaction fees. KCS Bonus is a modest income for KuCoin ecosystem builders and KCS holders. The sum of rewards available to users is determined by the amount of KCS they hold and the liquidity of the KuCoin Exchange. 

Kucoin in coinmarketcap:

The coin’s all-time low was $0.33, and the all-time high was $28.80. The total supply of the KCS is 145,879,861, the maximum supply is 170,118,638, and the circulating supply is 98,379,860.95. The current price of the token is $9.74. The coin was ranked 49th on Coinmarketcap as of July 2022.

Related: Distributed Ledger Technology(DLT): Explained

Can you use KuCoin in America?

America currently only regulates stablecoins, but an agreement was signed to regulate more cryptocurrencies in the future. There is no official ban on KuCoin. After completing the KYC, one can use KCS as a means of payment in acceptable shops. The low transactional fees attract lots of users. 

KuCoin application:

The KuCoin app was specially designed for the KuCoin exchange. It supports both Android and IOS smartphones. More than 1 million users were found on the application, which supports more than 500 pairs of coins. It aims to be in the top 10 exchanges soon, but the trading volume is low on the KuCoin exchange. The account signup and verification process are simple, and the 0.1% trading fee makes the exchange unique. 

It is an excellent trading platform for beginners and has high-security features. The only drawback is low volume, and withdrawal is difficult during high-traffic times. 

Uses of KuCoin:

KuCoin Contribution in the public offering on KuCoin Spotlight and BurningDrop on the Pool-X forum is the use case for KCS. KCS can also be used to pay for things like purchases, hotel accommodation, and gaming consoles.