KuCoin is an exchange that officially operated in 2017. Although launched later than other exchanges, KuCoin successfully entered the Crypto market with the largest TOP daily trading volume at the moment. . Details of what KuCoin is will be revealed in the following article.
What is KuCoin exchange?
KuCoin is a cryptocurrency exchange belonging to CEX and was launched to the community on September 15, 2017. KuCoin exchange is based in Hong Kong. Mr. Michael Gam – Founder of KuCoin exchange is a former technical expert at Ant Financial company. It is one of the leading financial companies in China and also a partner of Alibaba group.
KuCoin has grown into one of the most popular cryptocurrency exchanges today and is now one of the top 5 crypto exchanges according to CoinMarketCap. The exchange has more than 20 million registered users globally, one out of every four crypto traders is a KuCoin user. As the home of cryptocurrencies, KuCoin supports over 700 coins with over 1,200 trading pairs.
KuCoin was born with the goal of providing users with convenient – fast – safe electronic asset trading and exchange services. Integrate many high-end assets globally and establish an advanced trading platform.
KuCoin was named the cryptocurrency exchange and best application 2022 voted by The Ascent.
Trading fees on KuCoin exchange
Withdrawal and deposit fees: The exchange does not apply a deposit fee, the withdrawal fee will be determined depending on the coin that the trader wants to withdraw.
Transaction Fees: KuCoin stipulates a 0.1% transaction fee for every transaction. In addition, traders can also use KCS tokens to reduce their transaction fees.
How to receive daily KCS rewards on Kucoin exchange?
1. What is KCS?
KCS is KuCoin’s native token, which was launched back in 2017 as a utility token that allows traders to share the growth benefit of the exchange.
It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. After the launch of KCC in the middle of 2021, some KCS has been migrating to the KCC chain. As the underlying fuel of KCC, KCS will empower all the dApps on the chain.
The total supply of KCS was set at 200 million, and there is a planned burn mechanism on a monthly basis until just 100 million KCS remain.
2. What is the KCS Bonus Plan?
KCS Bonus is a unique incentive mechanism for KCS holders and KuCoin ecosystem builders. It is also regarded as one of the best ways to make passive income.
Simply put, users who hold at least 6 KCS on the KuCoin platform can get a daily bonus, which comes from 50% of KuCoin’s daily trading fee revenue.
The amount of rewards that users can get depends on the number of KCS held and the trading volume in the KuCoin Exchange. Based on historical data from 2021, the estimated APR of the KCS bonus ranges from 3–30%.
3. 3 steps to get daily KCS rewards on Kucoin
Step 1: Sign up for a Kucoin account here.
Step 2: Google Verification link or phone number to be eligible for rewards.
Step 3: Hold at least 6 KCS on KuCoin to receive rewards.
KCS bonus will be provided daily. 50% of KuCoin daily transaction fees are allocated to users through KCS rewards. You can hold KCS in your Master Account, Trading Account or Margin Account. Please note that if you bet KCS on KuCoin Earn, these tokens may not receive the daily bonus. Rewards will be sent within 30 minutes.