Exchange of digital currencies KuCoin’s cryptocurrency is known as KuCoin token (KCS). The KCS token, introduced in 2017, is a service token that enables platform businesses to generate passive revenue and use it to make purchases in physical locations and online.
What Is Crypto KuCoin?
As a service token introduced in 2017, KCS is a native KuCoin token that enables traders to partake in the gains from the exchange’s growth. It was made available as an Ethereum network-based ERC-20 token. Around 200 million tokens were allocated for the KCS sale. The KCS token is deflationary because KuCoin and the platform developers are regularly purchasing KCS off the market and planning to burn it every three months. The quantity of KCS that will be burnt will depend on trade volume, however, 100 million KCS should be the target circulation volume. KCS also powers transactions on the KuCoin Community Chain (KCC), a cheap blockchain that is interoperable with both the ERC-20 and (EVM) tokens.
Key Features Of KuCoin
Some of the features that are most talked about KuCoins are mentioned below. Let us all go through all of them one by one.
Margin Trading
The KuCoin leveraged trading platform is well-liked by investors that use margin trading. It is mandatory to mention that margin trading is best suited for seasoned traders with a flair for hazardous but lucrative tactics.
KuCoin Token(KCS)
Users may save a lot of money on trading costs by possessing KCS, KuCoin’s token. KCS investors also receive a daily split of the exchange’s trading commissions.
KuCoin Trading Bot
You may use the free KuCoin trading bot to carry out your trading strategy automatically. The number of trading techniques embraced by this coin is DCA, smart rebalance, Infinity grid and so on. The platform is said to be home to more than 6 million active bots, according to the exchange, which makes it easier for newcomers to get up to speed and pick up tips from more seasoned users.
Cryptocurrency Credit
With KuCoin Cryptocurrency Lending, users can lend their cryptocurrency holdings to margin traders and earn interest in turn. Borrowers are required to have a specific minimum amount, and all loans are secured. If the borrower is unable to repay you, the exchange provides an insurance plan to limit your losses.
KuCoin Security
Onchain Custodian, a company that safeguards the digital assets kept on its exchange, has collaborated with KuCoin. It makes the process of hacking more perplexing since KuCoin states that it supports cold storage of customer assets offline. KuCoin offers greater user-level security as well. For trading on the site, users are urged to pick up two-factor authentication as well as a distinctive password. Users have the option to create safety keywords that would feature throughout all mails from KuCoin in order to protect themselves against phishing frauds.
Conclusion
One of the biggest cryptocurrency exchanges with a lot of transactions is KuCoin. All significant coins and tokens are hosted on the website. The exchange’s trading interface is also convenient for both experienced traders and newcomers. The KuCoin platform is comparable to some of the leading cryptocurrency exchanges in certain ways, but it also provides a wide range of useful features that are essential for effective trading.
