What’s your favorite exchange?
KuCoin? Nah, us either (lol)
Today’s review is of KuCoin Shares!
Let’s dig in…
KuCoin Shares (ticker: KCS)
Wtf is this shit?
KuCoin Shares (KCS) is the native currency of the KuCoin exchange. KuCoin is one of the many cryptocurrency exchanges that gained traction in 2017 and 2018. There has been widespread skepticism around their legitimacy, but today’s review is around their in-exchange currency, KuCoin Shares.
KuCoin Shares’ main purpose is to decrease trading fees for KCS holders and distribute rewards (cryptocurrencies other than KCS) to holders. Rewards are distributed to users at 0:00 UTC +8 each day.
KuCoin has a 0.1% trading fee, which is reduced even further for KCS holders. For every 1,000 KCS you hold, 1% of a trading discount is granted, with a cap of 30%.
The KuCoin bonus is distributed to all users, and as trading volume increases (more fees accumulated by KuCoin), then more bonuses are given out. 50% of all the fees paid to KuCoin is set aside to KCS users for the bonus. They have a calculator online to see the exact rewards you'll receive.
In summary - it’s a gimmick for you to use the exchange. In our opinion, the most important aspect of an exchange is not saving a negligible percentage on fees, but ensuring security and legal compliance.
Who tf is behind this shit?
KuCoin! Michael Gan and crew. They do actually have a large and experienced team with Michael Gan as their CEO.
All in all, mid-tier shitcoin mostly due to market metrics...otherwise, it’s meh.
Hope you learned some shit and make sure to follow us on Twitter!
- Mike and Aaron