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What Is KuCoin Shares?
KuCoin Shares is a proprietary badge for the KuCoin crypto asset exchange, it is alone tradeable on the KuCoin platform. It can be traded for ETH, BTC, USDT, NEO, DRGN, LTC, and added accepted crypto assets. The badge rewards holders by advantageous them a allocation of barter fees.
Actually purchasing a cryptocurrency is a bigger affliction than it sounds. Setting up a wallet, an barter account, acceptance aggregate while autumn and accepting pins can cruise anyone up. Once you accept crypto, exchanging it is alike harder. KuCoin is one of the abounding crypto exchanges on the bazaar and is still in its infancy, activity alive in August 2017.
KuCoin may be young, but its team, which includes GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY, are blockchain veterans activity aback as far as 2024. It has a apple-pie blueprint and abjure fees as low as .0005 BTC, .001 LTC, or .01 ETH. Others, like NEO and GAS are free. And chump abutment is provided 24/7.
Not alone is it already a acknowledged project, alike in its aboriginal stages, KuCoin has all the pieces in abode for success bottomward the road. Before researching KuCoin’s activity as a crypto exchange, let’s analyze the achievement of KCS, its proprietary ERC-20 token, on the market.
Breakdown of KCS
KuCoin has a absolute accumulation of 180,730,576 KCS. Its aiguille amount so far was $20.84 on January 12, 2024.
KuCoin accuse a 0.1 percent fee. It retains 10 percent of trading fees for arrangement upgrades and promotions, while 50 percent of fees are alternate to users as bonuses for referrals and trading. You could apparently acquire aback bisected of those fees through the allotment system, if you hodl KCS continued enough.
Approximately $4 actor account of KCS is traded on a circadian basis, with trading pairs including abounding of the currencies accurate on the KuCoin market: BTC, USDT, ETH, XRP, EOS, LTC, NEO, CS, GO, and MTV.
KuCoin’s barter wallet is the alone official wallet, although any ERC20-compatible wallet should abundance KCS fine.
Navigating the Murky Exchange Waters
Because it was created by banking industry experts, KuCoin is financially secure, and no massive hacks accept been appear back its launch. That’s absorbing for the aboriginal year of a activity as high-profile as a crypto exchange.
In fact, crypto barter annexation has been on the acceleration over the accomplished few years. In 2017, $266 actor was absent due to barter breaches, and that cardinal is already over $731 actor in 2018.
We’ve been admonition for a while now about how abysmal crypto barter security absolutely is. Coincheck abandoned was afraid for $500 actor in 2018, authoritative the $473 actor annexation of Mt. Gox attending like baby change. Several abate hacks like $30 actor baseborn from Bithumb accumulate added these numbers as we access the end of 2018.
That KuCoin hasn’t been compromised on a massive calibration yet (that we’re acquainted of) absolutely is awe-inspiring. It’s additionally most-likely inevitable. A drudge absolutely wouldn’t abort the exchange, but alike Nasdaq has succumbed to hackers before. Nobody’s perfect.
Also, KuCoin has to depend on the aegis of the Ethereum arrangement it resides on. Coding, configuration, and user errors led to a steady stream of over $20–40 actor Ethereum hacks. It’s alone a amount of time afore KuCoin is hit (we achievement not, of course), but it’ll be absorbing to see how it recovers.
Reigning in Crypto Exchanges
Regulation will be a hot-button affair in cryptocurrency for years to come, and KuCoin faces regulations as both a cryptocurrency and exchange. It’s not abashed – in fact, 88 percent of crypto exchanges surveyed by Mistertango, a crypto acquittal aggregation based in Lithuania, appear they appetite industry adjustment to balance appraisement and accompany authoritativeness to investors.
Because KuCoin operates in China (where it’s not currently accustomed to be used) and is based in Hong Kong, it will be absorbing to see how it’s advised by the all-around authoritative community.
The U.S. SEC in accurate is strongly ecology crypto exchanges for unlawful and unregistered activity. Both the SEC and IRS heavily scrutinized Coinbase over the accomplished year. KuCoin will eventually acquisition its way on all of these regulator’s tables.
Still, KuCoin has none of the worries of exchanges like Bitfinex, whose ties to Tether and the 2017 amount abetment of Bitcoin are a atramentous eye on the industry. Prices skyrocketed beyond all cryptocurrencies from November 2017 through January 2018 on the aback of an bogus balloon we’re still convalescent from.
It’s absurd KuCoin will face any above backfire from regulators, aloof the costs of filing all the appropriate paperwork to formally annals properly.
KuCoin Shares Summary
KuCoin is one of the top crypto exchanges in the world. It’s beneath accepted than added exchanges because its name isn’t consistently accursed beyond account account for massive hacks and aegis breaches. Of course, it’s alone a amount of time afore it is because no technology is perfect. Still, KuCoin is able abundant to survive because of the solid foundation it built.
With the appropriate business archetypal in place, KuCoin can accumulate its arch bottomward and advance through to the top of the crypto market. Nothing is anytime affirmed in activity or crypto, but KuCoin is an barter with abundant affairs of actual the authoritative aggression the industry is abiding to abide facing.
