Kucoin Exchange - Kucoin Shares (KCS) review
The KuCoin exchange
KuCoin is a new international crypto exchange based on Hong Kong. It opened last month (09/17) and is growing fast. In just 30 days, they have listed major coins. They were the second exchange to add the much anticipated Walton Coin and will be the first exchange to list Red Pulse (RPX). Additionally, they are planning to release decentralised exchange features.
Their goal for December 2017 is to have over 50 mainstream cryptocurrency pairs listed and the daily exchange volume is expected to be above 5000 BTC.
The exchange has a modern design, the user experience is amazing and will also have a mobile app in November. It is growing to be a Binance competitor and just like Binance, they have their own coin (KuCoin Shares (KCS)) but it is much more interesting than Binance, read on.
Reasons to sign up right NOW and buy KCS. Seriously!
They distribute 90% of the platform trading fees to the users. Here is how it breaks down:
- KuCoin exchange keeps 10%
- They distribute 40% to the users who have recommended other users
- They distribute the remaining 50% to KCS holders.
For example: User Bob holds 10000 KCS in his account on the exchange. In October the average volume of the entire exchange per day is 10000 BTC and the trading fees collected per day is 20 BTC. Assuming a 100M circulating supply, this user will get 20 * 50% * (10000/100000000) = 0.001 BTC per day, 0.03 BTC per month! For 80M circulating supply, it is 0.0375BTC per month.
The more KCS you hold, the more bonus you get. And considering their future plans and how much they have done already in one month, there will be some serious BTC to be made.
Additionally the exchange distributes free GAS daily for NEO holders unlike other exchanges that do not distribute it and unlike Binance which distributes monthly.
KCS Tokens distribution
- 200M total tokens
- 100M tokens were distributed to founders and angel investors
- 100M were distributed to the public.
The founders and investors can not sell their tokens for 3 and 2 years respectively ensuring us that the company will work towards adding value to the token.
Buy back and burn
10% of the exchange net profit will be used towards buying back and burning tokens from the market every quarter. The current token supply is 180M meaning that there has already been a burn of 20M, limiting the circulating supply to 80M (another 100M locked up) .
Development Plan and Timeline
Oct 2017, Global promotion started.
Nov 2017, Mobile apps (Android, iOS) released.
Dec 2017, Over 50 mainstream cryptocurrency exchange pairs listed, daily exchange volume expected 5,000+ BTC.
Jun 2018, Cryptocurrency exchange pair self-releasing feature available.
Dec 2018, 1,000+ cryptocurrencies list, daily exchange volume expected 100,000+ BTC.
Jun 2019, One of the Top 10 worldwide cryptocurrency exchange platforms.
Conclusion
Their most important bet for the next months will be to convince users to use their exchange instead of the other exchanges established in the market. Their Development Plan and Timeline matches this long term goal. There is already a lot of competition, but as we have seen with Binance, there is also a lot of room for growth for a new breed of exchanges that are more user oriented than the traditional ones.
Kucoin has made a great start and if they stick to their Timeline (mobile app, global promotion, listing 1000+ cryptocurrencies) and continue innovating, I really expect it to be one of the Top 10 worldwide cryptocurrency exchange platforms.
With all that in mind, I dare to say that KuShares are currently really undervalued (supply is 80 million, price equals around 15k sats). They have been around only for 1 month so they are not widely known yet, but as soon as people find out about them, I expect an increase in token value in the short term, there is still room for growth. Long term, it is definitely looking good and I expect it to be a great source of passive income.
Register here and buy any amount of KCS to ensure some passive income as the exchange grows bigger and bigger. If you register you can use my invitation code: E3dktN
At the time of this writting,
1KCS = 0.00014739
1KCS = $0.84
First Quarter of 2018 almost up should be a good time to buy.
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