This exchange (also known as People’s exchange) is really easy to use and (so far) very reliable.
I was sceptic at first because it is new and situated in Hong Kong and because it offers some rewards to it’s users (I am not a fan of BITConnect or MLM)....see bellow
But the exchange had a token that I was interested in (Red Puls Token - RPX), so I took a chance.
Everything important was available in English language. The speed of registration and authorization/verification was amazing (nothing like Bittrex or Poloniex). It made me a bit worried since there was no documents requirement, but everything was OK. There was a 2 factor authentication requirement before I could start trading, and I was satisfied with this.
They offer some interesting ALTCoins, but since the trade value is not so big at this time, one has to check prices elsewhere, before placing an order (please do this, because I noticed that prices can be different and money can be lost).
They offer direct trading of ALTCoins against NEO, Etherium and BTC, so it is very convenient if you hold NEO. Looks like NEO will become quite important. Lots of FIAT currencies are also supported (CHF, EUR, HRK, HUF, BGN, CZN, MYR, RUB etc.).
When purchasing ALTCoins the speed was amazing. Because it is a smaller exchange, I put down quite a low order for purchasing one of the coins and I was very happy to see that it went through.
They offer a small trading fee discount to users who hold their tokens called KuCoin Shares $KCS. For every 1000 KCS, you get 1% discount (the cost on 31.10.2017 was approx. 750$ /1000 tokens - so you have to do a lot of trading to make it worth your while). The discount is also limited at 30%. Here is the price list in case you want to check the fees (https://news.kucoin.com/en/fee/).
I researched their token a bit and it looks like they will buy back part of their tokens (up to 50%) and that they will be burnt, so that should bring some stability to their token (too early to tell though).
They also offer invitation bonus and GAS for holding NEO at the exchange (https://www.neotogas.com/), but one has to be very careful before deciding to hold coin/tokens at the exchange. Even with 2FA one can never be too careful.
They also offer a small reward for holding their tokens (KCS) at the exchange. I guess they are more liquid that way, but the idea behind it is great. The idea is that they will share 90% of the trading fees they will collect of every coin traded on the exchange. I bought a small amount of their tokens to try this and it is awesome….you get really small amounts (it feels like mining, but it will not make you rich, unless the trade volume becomes really REALLY huge).
According to https://coinmarketcap.com/exchanges/kucoin/ data on 31.10.2017, the KuCoin Exchange 24hour trade volume is 6,466,697$ or. 1,016 BTC, but this could increase in time since Binance already has $96,167,680 or 15,052 BTC (https://coinmarketcap.com/exchanges/binance/)
Here is the info regarding rewards that was posted on 26th September 2017:
https://news.kucoin.com/en/kucoin-will-relaunch-kucoin-bonus-plan-and-gas-reward-distribution-on-26th-september/
"Kucoin will relaunch Kucoin Bonus plan and GAS reward distribution on 26th, September.
Meanwhile, we are raising the ratio of Kucoin Bonus from 10% to 50% to KCS holders, for example, user Bob holds 10000 KCS in his account on our exchange. Let’s say in October the average volume of our entire exchange per day is 10000 BTC, according to our current fee rate, the trading fee we collect per day is 20 BTC. So this user will get 20 * 50% * (10000/100000000) = 0.001 BTC per day, 0.03 BTC per month!
P.S. About the GAS reward ratio, please check out https://www.neotogas.com, this ratio depends on NEO blockchain and it changes every day."
This was my review of KuCoin exchange. I hope this helps when deciding to use or not to use this exchange.
Please use this referral code E3vjp8 or this this link https://www.kucoin.com/#/?r=E3vjp8 when registering.
Many thanks.
