Kucoin is a gem of crypto that is finally getting towards the place it deserves on the coinmarket cap as both a coin and as an exchange. The coin is at position 46 on coinmarketcap The exchange is now one of the top 20 exchanges by trade volume! Binance quickly rose to number 1, and I expect Kucoin to quickly rise to compete with it.
The exchange is fairly easy to use. Some work could be and will be done to increase the user experience. There are many interesting coins on Kucoin that aren’t as easy to get elsewhere. Qlink, Dragonchain, Deep Brain Chain, Dent, Red Pulse and many other coins with great potential. They also have deposit reward competitions and trade competitions. Currently the exchange has had $162,756,265 USD volume in the last 24 hours.
Holding Kucoin shares on the exchange gets you a percentage of the total trade fees every 24 hours. They are paid out in the coins that they are bought in. So you will receive your little portion of every coin on the exchange based on what coins had the most volume. I am not currently making much on my Kucoin Shares but I am gaining new coins every day! The trading competitions encourage volume, and the volume increases they payout per Kucoin Share.
Its an interesting concept and I feel a step towards becoming the best exchange there is. If only it were decentralized like Bitshares. Also like Bitshares exchange and Binance exchange, Kucoin offers a referral program rewarding users who get referrals with 40% of the trade fees, Kucoin shareholders get 50%, and they keep 10% for the company. Thats why it could be considered the people’s exchange.