KuCoin is a famous exchange in the cryptocurrency market, so the fact that this exchange’s own currency is KuCoin shares (KCS) the interest is understandable. In particular, with the operating model in the form of becoming a shareholder of the KuCoin exchange when you own KCS is one of the things that attracts many investors. To learn more about KCS, as well as the benefits that this currency brings, you can check out the article content below.
What are KuCoin Shares (KCS)?
KuCoin Shares (KCS) is a token created by the KuCoin exchange, built on the Ethereum Blockchain platform according to the ERC20 standard. If you are familiar with the Binance coin from the Binance exchange, Kucoin Share is similar. The KCS currency is Kucoin's own currency and currently, the virtual currency exchange Kucoin.com is also providing a separate market for KCS, which means you can use KCS to buy and sell other currencies, so the KCS's liquidity is huge. Kucoin Shares has a maximum total coin supply of 200,000,000 KCS, however, the Kucoin.com exchange will gradually buy 100 million KCS and then cancel it, leaving only 100 million KCS. The purpose of this is to help the value of KCS grow and the price more valuable.
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How KCS .Coin works
The project's official white paper gave a very clear explanation on how to distribute KuCoin shares. As stated earlier, distribution methods consider the amount of KCS in the user's exchange wallet. For example, if a user has an amount of 10,000 KCS, he will receive BTC/ETH as follows:
Winnings will be calculated as follows:
- Daily: 0.00015 BTC and 0.0238 ETH
- Weekly: 0.0105 BTC and 0.6666 ETH
- Monthly: 0.045 BTC and 0.714 ETH
- Annual: 0.5475 BTC and 8,687 ETH
Please note that this is just one of 200+ trading pairs on the exchange, all trading fees collected will be distributed to user accounts based on the above formula. As a result, users who own KCS are likely to receive Cryptocurrency dual from other transaction fees (eg LTC/NEO).
For every 1000 KCS you own you will receive a 1% reduction in trading fees, however the maximum amount is limited to 30%. For example, if you have 20,000 KCS, you will get 20% off, but keeping 50,000 KCS will only get 30% off.
Store KCS in which wallet?
Because it is built on the Ethereum blockchain, KuCoin Shares can be stored in all wallets that support ERC20 tokens, the most popular being MyEtherWallet or ImToken (mobile wallet) or MetaMask (Chrome companion wallet). website). Recently, MyEtherWallet has been rumored to reveal user information, so you might consider using an ImToken or MetaMask wallet on your smartphone to be safe! You can also store this currency directly on the KuCoin exchange if you transact regularly.
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Should I invest in KuCoin shares (KCS)?
When KSC was born, it only stopped at US $ 0.5, but now its value has increased significantly. This long-term vision is embedded in R&D funding to revolutionize the blockchain space. 90% of the transaction fee is shared 50% for KCS holders and 40% for direct and indirect referral users. The shortage will be created by the KuCoin exchange buying back KCS from the market and burning them.
The operating model of the Kucoin exchange, just like the KCS, brings many benefits to users and holders. KCS holders will almost become shareholders of the Kucoin exchange, specifically benefiting from the exchange. This is a pretty smart economic model for current virtual currency exchanges, few exchanges can apply this mechanism like Kucoin.
In particular, for investors who regularly trade on the KuCoin exchange, owning KCS brings many advantages in terms of fees. Specifically, the transaction fee will be reduced by 80% on the transaction fees of individuals holding KCS (meaning that KCS is in lesser circulation to buy and increase its value).
After learning the details of KuCoin shares, you more or less noticed the benefits of owning this token. Kucoin shares are likely to become a major factor in attracting investors to the KuCoin exchange if it makes the most of its operating model. If you are looking for a reasonably priced coin with long term investment advantages then KSC should not be missed.
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