I haven’t been a big fan of Kucoin, and I am still not an extreme fan. But, recently I discovered some things that make me more bullish about both the exchange, and especially, the Kucoin Shares (KCS) – the coin of the exchange.
I have been a fan of Bibox and Binance for a long time, and I have written quite a lot of articles about these exchanges. But, I haven’t enjoyed Kucoin, much due to its design, and because I have found the website to be complicated and slow.
Recently, I visited the Kucoin website to read more about their anniversary, and all their giveaways and competitions. This is a nice event lasting from September 15th to October 1st. People who hold more than 6 KCS can take part in the daily competition guessing the next days highest value of Bitcoin. There are also trading competitions, in which the 500 people with the highest trading volume for different coins will be awarded more of that given token and some Bitcoin.
This is a nice event, and it will for sure bring more volume and new people to the Kucoin exchange. And, there are many people that expect October to be a bullish month for cryptocurrencies. If that is so, Kucoin will for sure enjoy the benefits of such a rally as well.
What makes me bullish about the Kucoin Shares (KCS)
But, what makes me bullish about Kucoin Shares? First of all, it is the official coin of the exchange, meaning that it has a very real-life use-case, which makes the demand for it constant. And, if we should enter into a bullish month or two, the demand for the token will for sure get higher.
However, the most interesting is something that Kucoin introduced in July 2018. Just like Bibox awards their BIX holders with a part of the daily trading fees, Kucoin now awards the KCS holders with 50% of the daily trading fees. The more KCS-tokens you hold, the higher the daily awards. And yes, they are paying the rewards to you on a daily basis, and they pay the awards in KCS-tokens. Even more interesting, it doesn’t require anything from you to receive the rewards. All you have to do is to keep the tokens in the exchange, and you will get the daily rewards. The minimum amount of tokens required to get the daily bonus is 6 KCS-tokens.
It should also be mentioned, that currently, the KCS price is 1,04 USD. It hasn’t been under 1 USD since it broke the resistance in December 2017. Now, I am not sure that anyone really cares about the 1 USD value, especially considering that the largest KCS pairs are the KCS/BTC-pair and the KCS/ETH-pair. These pairs don’t care about USD value, so I do not believe the 1 USD should serve as a strong support level. But, I see the potential in the coin.
In January 2018, the value of KCS moved between 3 USD and 20 USD. I do not expect KCS to move to 20 USD anytime in the near future, but I do see a giant potential for growth in this coin.
Sounds interesting? Visit the Kucoin website if you want to get to know the exchange better, or maybe even buy some KCS-tokens (just in case).
- This article was originally posted at Steemit and republished here in the IP Address Guide.
What do you think? Are you bullish about the KCS-token? I would love to hear your thoughts.