Hi All,
Kucoin (KCS) is one of my favorite alt coins and is my 4th largest holding of crypto currencies. This exchange is basically imitating Binance for the Asian market and I see a lot of potential. It has grown well and offers new coins every day.
There are three reasons I bought KCS:
Kucoin pays daily dividends based on a percentage of the fees charged for every coin.
Kucoin uses some of the money they collect to buy back and burn coins. I believe its 10% of their income.
They list coins before other exchanges, meaning that fans of certain coins will join Kucoin first to buy the coin that they think will moon. I think this will naturally help them grow in users.
There are also some concerns though:
Kucoins english communication isn't very good. I'm not sure if Chinese is any better, but when repairs happen to their site, they often don't announce that their might be delays or inability to log in... Although I have no reason not to trust the exchange, this communication gap is a little concerning.
They haven't stuck 100% to their white paper. In their white paper they say they will pay referral bonuses, but stopped this a couple months ago. I do understand that they grew extremely fast and to continue paying these amounts would very difficult, but again I think it comes down to lack of communication about their decision making.
I currently don't know what the dividend percentage is. The white paper said it will be 50% until March 1st and that it would never go below 15%. Today is the 6th Day of march and I'm still not certain about the current percentage. My dividend payments are a few cents(USD) lower, but I'm not sure if its because of volume or because of a change in their payouts. If anyone knows, please let me know.
I am not a financial adviser, but just want to share my thoughts on some internet money I am interested in.
Would love to hear what others think of this coin in the comments.
Thanks!
