KuCoin is a cryptocurrency exchange launched on September 15, 2017. The platform uses KuCoin Shares (KCS) in a similar way to Binance. You get a discount on trading fees when you use KuCoin tokens.
Overall, KuCoin aims to be a more user-friendly exchange than traditional exchanges available today. The platform shares 90% of trading fees with users, for example. They also offer 24/7 customer service and generous referral rewards.
KCS tokens, are a cryptocurrency with a total supply of 200 million. The company plans to buy back a total of 100 million tokens, which would lower the total supply to 100 million.The tokens are ERC20-compliant tokens built on the Ethereum blockchain.
Features:
Reliability: KuCoin uses data encryption, dynamic authentication, multi-level risk identification control, and other systems to guarantee transaction security.
Fast: KuCoin claims that blockchain-based assets will be added to your account within 2 minutes of your transaction, with withdrawals completed in 10 minutes.
Safe Wallet: The KuCoin wallet includes multilayer encryption, offline storage in a bank safe, funds escrow, and regular auditing by the bank.
24/7 Customer Service: KuCoin offers 24/7 customer service through WeChat and other platforms. They claim that customer service issues are addressed within 10 minutes.
Profit Sharing Among Token Holders: KuCoin shares 90% of trading fees with users.
Referral System: KuCoin has a referral system where it gives 40% of a user’s transaction fees to the member that referred them to the platform.
Proof of Stake Bonus: KuCoin shares 50% to users who hold KCS on KuCoin’s exchange. You also earn GAS for holding NEO on the exchange.
Multiple Currencies: KuCoin currently offers all of the following cryptocurrencies: ETH, LTC, NEO/GAS, OMG, QTUM, PAY, CVC, EOS, SNT, KNC, BTM, BHC. By December 2017, the company plans to offer over 50 mainstream cryptocurrency pairs. By December 2018, they aim to expand that to 1,000+ cryptocurrencies.
Quarterly Buybacks: KuCoin will buy back KCS each quarter. It will buy back tokens using the 10% of profits collected from transaction fees. Buybacks will continue until 100 million KCS have been destroyed.
Mobile App: KuCoin plans to release an iOS an Android app in November.
SOURCE:
Whitepaper: https://assets.kucoin.com/kucoin_whitepaper_en.pdf
Invitation link: https://www.kucoin.com/#/?r=E3ePDfQR
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