KuCoin is a fast-growing Blockchain asset exchange platform that is relatively new but has grown rapidly. It was officially released on September 15th and currently records over USD100 million worth of transactions over a period of 24 hours.
The development of KuCoin began in early 2011; the technical architecture of the system is fully extendable and highly reliable. KuCoin’s high-performance engine system was later released in 2017; it has the ability to perform over 2 million orders/second without any strain or delay even during market booms.
KuCoin’s unique features have catapulted its exchange platform to competitive levels in the 100 billion dollar cryptocurrency market. These features include:
Financial Level Stability
KuCoin’s platform uses the multi-cluster and multi-layer architectural system that can accommodate more than one transaction occurring simultaneously. This function ensures that the system is stable at all times even during adverse times such as hardware failure.
The system follows the standard encryption protocol; it ensures that the entire data that the user data transfers within the system is kept hidden to other users. Thus, it creates a sensitized and safe cryptocurrency exchange platform that provides maximum security for carrying out transactions.
Efficient Customer Service
KuCoin customer service team is easily reachable 24/7 for queries and assistance on all issues affecting the platform. Issues can be resolved through the company’s website or through their official email.
Multiple Cryptocurrency Support
KuCoin Blockchain asset exchange platform offers convenience by supporting more than 210 major coins; ETH, BTC, NEO and all ERC20 tokens. This enables users to carry out all their exchanges on one platform.
These features have played a major role in assisting in the growth of the exchange platform; however, the major fuel for its success stands to be its token the KuCoin Shares.
The KuCoin Shares (KCS)
KuCoin Shares (KCS) are the official tokens for KuCoin; in fact, they serve as rewards for new and existing users of KuCoin; the rewards have the form of invitation bonus and KuCoin bonus respectively. The KuCoin bonus goes to KSC holders that engage in trades using the KuCoin platform. Therefore, the bonus has the form of dividends; a 50% share of the total trading fees paid out is distributed among these KuCoin holders.
This means that users who hold more KCS receive more dividends. The most exciting thing about the KuCoin bonus is that the KuCoin Shares holders only receive it; it can be any coin available in the currency exchange platform such as NEO or BTC. This is a particularly positive factor for the growth of KuCoin; with the increased usage of the exchange platform, the coins offer more value to the dividends paid out as cryptocurrency’s values skyrocket.
How to Buy KuCoin Shares
KuCoin Shares have a maximum supply of 200 million coins; 35% will be shared among the founders and 15% issued out to the investors and consultants. The remaining 50% will be available to the public.
These first two distributions are bound to a lock-up period where the amount shared among the founders will be locked for a four year period till 2nd September 2021 whereas the 15% assigned to consultants will be locked up for a period of 2 years till 2nd September 2019. However, the founders are allowed to sell or assign an amount equal to 25% of the historical trade volume within a period of 365 days from 3rd September to 2nd September 2021 whereas the consultants can as well sell or assign 50% of their total historical exchange volume within a period of 365 days from 3rd September 2018 to 2nd September 2019.
KuCoin shares are available for purchase by exchanging ETH, NEO or BTC. One can buy any of these coins in platforms such as Coinbase or ICO.io; they allow users to use credit or debit cards to purchase the coins. Once you are in possession of either of these coins, you must transfer them to the official KuCoin exchange site and then trade them for KuCoin Shares.
KuCoin Shares Storage Wallet
KuCoin Shares is built on the Ethereum Blockchain which makes it an ERC20 token. This thus simply means that one can store his or her KCS in any wallet that supports Ethereum Blockchain. The most used Ethereum Blockchain wallet is MyEtherWallet (MEW) but one can opt to store the coins in a hardware wallet such as the Trezor or Ledger Nano S.
The Team behind KuCoin Shares
In its bid to push the KuCoin exchange platform to be the leading cryptocurrency exchange platform, KuCoin’s team consists of dedicated and well-educated members who have extensive experience in the cryptocurrency industry.
Michael Gam, the company’s founder and CEO, is a former technical expert who has worked in the Chinese Alibaba Group’s affiliate company Ant Financial and internet giants KF5.com and MikeCRM. His partner Eric Don, the current COO, is a star in the internet industry having worked for IT companies like KITEME and YOULIN.Com as a senior partner.
The experience and knowledge held by the core team members give an appealing thought on the future of KSC as it’s on the path to unlocking its full potential.