The native token of KuCoin, or KCS, was introduced in 2017 as a profit-sharing token that enables traders to benefit from the exchange's value. The majority of Ethereum wallets supported it because it was created as an ERC-20 token that operated on the Ethereum network. KCS supply was fixed at 200 million, and a planned buyback and burn will continue until only 100 million KCS are left. KCS will eventually serve as the native asset of KuCoin's decentralized financial services as well as the governance token of the KuCoin community as the KuCoin decentralized trading solution goes live.
Additionally, KuCoin stated that "Empowering KCS" will be a top goal and that KCS will be developed into a killer product rather than just a token, which is certain to further diversify the advantages that KCS holders can take advantage of. KCS serves as the key to the entire KuCoin ecosystem for the long term. KCS will serve as the universal token and underlying fuel for upcoming KuCoin decentralized products as DEX and KuChain grow. There will probably be a release of further information soon.
One of the best sources of passive income is KCS Bonus. Users that possess more than 6 KCS are eligible to receive a daily dividend, which is funded by 50% of KuCoin's daily trading fee income. A distinctive reward structure for KCS owners and KuCoin ecosystem builders is the KCS Bonus. The number of KCS held and the volume of trades on the KuCoin Exchange determine how much rewards users can receive.
KCS, a utility token, is used to pay for trading fees on the KuCoin Exchange in addition to dividend payments, giving users access to savings of up to 80%. The participation in the KuCoin Spotlight token sale and the LockDrop/BurningDrop on the Pool-X platform are further use cases for KCS. However, there are still a number of other uses for KCS tokens on the platform, so this is not everything. For instance, KCS holders can upgrade to KuCoin VIP status, and users are no longer required to engage in a significant amount of BTC trading to gain access to the lower maker and taker costs. KCS can be used to pay for a variety of things, including shopping, booking lodging, purchasing video game equipment, and more.
The 200 million KCS starting supply was decided upon. Every quarter, KuCoin and the KCS team buy KCS back from the market and burn them. The quantity of KCS that will be burned is based on the KuCoin Exchange's quarterly trading volume. Therefore, the quantity of KCS in circulation is dwindling and will finally reach 100 million.
Because KuCoin uses the industry-standard encryption protocol, user data and data transfers within the system are kept secret from other users. It employs a multi-cluster and multi-layer architectural architecture that can support multiple transactions at once while maintaining system stability.
Johnny Lyu — CEO, KuCoin
Johnny Lyu is the Co-Founder and CEO of KuCoin, a global leading cryptocurrency exchange. Founded in 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users across 207 countries and regions around the world.
Trust Wallet - a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Beginner friendly mobile wallet may be appropriate for users looking for a convenience and accessible app, with trusted security and backup options.
The option to keep your KuCoin Token (KCS) secure and offline can therefore include the leading hardware wallet providers Ledger.
Similarly, a user-friendly option to keep your $KCS secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting to your MetaMask wallet.
You can Buy & Sell KuCoin Token (KCS) by heading over to the Buy Coins page of our website. KuCoin Token (KCS) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $KCS has never been easier, simply place your order and provide your wallet address. Once your payment arrives KuCoin Token (KCS) will be sent directly to your wallet.
If you choose to Sell KuCoin Token (KCS) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Disclaimer: The information provided in this article is intended for informational purposes only. It is the reader's responsibility to complete their own research and due diligence