What Happened to the Kucoin Exchange? An Opinion Piece

Every day I log into telegram and there always happens to be some sort of gripe about the Kucoin exchange. Whether it would be about customer service, the transfer times, or even the value of Kucoin shares steadily dropping (note: at the time of writing, KCS currently holds an exchange rate of 1 KCS to $0.55 USD). This article will be just one opinion among many others as to what happened to Kucoin.

The opinion I put forth is pretty simple, the Kucoin exchange dropped the ball. The teams behind Kucoin were very good, too good in fact, at attracting new people into their exchange, and this was their undoing. They had all the means to attract the attention, but none of the means to maintain the attention. For the young exchange, they could not handle the server loads caused by the major influx of trading and transferring volume (hence why they gave everybody 5 KCS as an apology) and even to this day there are still these same issues. What's worse is that despite adding new coins/tokens every week, as of this moment, the Kucoin exchange still has less markets than even Poloniex. This was another big blow against Kucoin as they did not have the diversity in markets to maintain the attention. Many people, myself included, felt discouraged at the fact that we were missing out on plenty of opportunities available on exchanges such as bittrex that we were missing out on by staying on the Kucoin exchange. Finally, during the early days I've noted that I was always able to get in contact with customer service, but after the massive influx, it was a nightmare to get in contact with customer support.

These three factors, among many other factors that I may not have glossed over, really led to the rapid rise and fall, the volatility, in Kucoin's customer base. New members have come and gone, and old members are shaken up, some losing faith in the exchange altogether. Nowadays, the Kucoin exchange is on a very slow path to recovery but now one has to wonder how would they manage to once more gain attention from an already displeased and discouraged crowd. Some stake their hope in the new app that's soon to be released by the Kucoin team, we can only hope that they'll be better prepared for massive influxes next time. As for my personal opinion, a greater diversity of markets, better server loads, as well a revamped and diverse customer support team would greatly help maintain the current attention they have. As to attract new members once more, one final airdrop for current and new holders of KCS with bonuses doled out to members who have successfully referred newcomers.

• The Praetor of Bitcoin