KuCoin New feature: Vote for coin.

I wrote about the KuCoin exchange a few days back and with the new month they have a new feature: Vote for coin. I really like this for a few reasons I'll talk about here.

The idea is that the community will vote for what coins they want KuCoin to add which I think is a great feature to have because it make the whole "adding coin" thing more transparent and also more efficient. No one knows what coins will Bittrex add and when they do, it's usually going up a lot. But it is clear that someone knows and probably benefits from that information. Now this feature in KuCoin will prevent this kind of insider trading. Well, with the low volume and lack of exposure, KuCoind listing doesn't influence the price of any coins much...but in the future this could be important.

Secondly, it gives the KCS holders a new reason to hold KCS. As I said in the previous post, KCS pays back part of the fees they take every day so that's a big reason to hold. The second reason is that you get lower fees, which matters a lot for most of people. Now there's a third reason: POWER to influence what coins will be added. It's starting to look as a more and more valuable proposition.

Each vote costs 0.5KCS --> about 5 cents currently.

Finally, I really like what it says about the team behind KuCoin and that they are working and thinking and to some degree innovating what an exchange can be or is and how crypto will play a special role in differentiating from "traditional" exchanges. I am a bit excited about what's to come!

OF COURSE my skepticism is not dead. It is a new exchange, very chinese-like and potentially sketchy. Do not put any funds you do not feel comfortably losing in the blink of an eye on no exchange. However, if you feel like giving this a chance, it would be great to use my code and help me make a dime off of your fees and it doesn't cost you anything:
Sign up here.

R.