Source

Just a quick post to highlight something big that has just come up on Kucoin!... I was planning to post this in a much longer post about the rest of their 2nd Anniversary Celebrations and how worthwhile most of the contests and giveaways were... but, this was too good to not immediately write about!

In roughly 4 days, on the 16th of September... Kucoin! are going to have a Flash Sale of BTC at an astounding 90% off! Now, there are a few caveats to this incredible offer... but if you already have some pieces in place, then this could be an offer that is just too good to be true (but it is...). Firstly, Kucoin! is a reputable exchange and not a small one at that... it is behind in size to Binance... but on the other hand, everyone is! I've been using Kucoin! for close to two years now... and I've had no issues with them at all. You do have to read about what you are doing... so that you don't cause problems for yourself though (something that people in a rush to make magical internet money sometimes forget to do....).

There is a cap of 750 USD of Bitcoin purchase per individual with a minimum of 50 KCS (and KYC) required to participate in the sale. There is also a global maximum of 1,500,000 USDT in Bitcoin on offer (roughly 1500BTC) There will be a snapshot of the accounts before the sale at a random time to test to the KCS holdings...

So, the complete details of the sale are here: https://www.kucoin.com/activity/86.

My quick analysis and caution

Okay, so this caught me a little bit by surprise, I wasn't expecting such a huge discount on the sale... I was expecting to write up an analysis of the worth of all the current Kucoin birthday contests and everything on the weekend... but this one will have to jump forward a little bit!

However, giant discount aside... my initial analysis of the Flash sale remains the same:

The first issue and biggest issue is that you have to pay in KCS (the utility token of Kucoin).. now, that isn't much of a problem if you were already holding it... but the price has grown steadily over the last week, and in the last hour or so has spiked quite significantly (no surprise there...). So, there is the issue of whether or not you will be holding overpriced KCS if you missed out on the sale (it is a limited flash sale...)

The KCS that is used to purchase the BTC will be burnt... so it is unclear where the price of the KCS will go after the promotion... if you used your KCS holdings, you might be hoping to buy them back at a lower price to reinstate your position... but there is no guarantee that the price will plummet back to the pre-sale price. Conversely, if you get caught out holding overpriced KCS then you might find that the price DOES plummet... (personally, I'm hoping the price will plummet....).

This is a Flash Sale... things will get pretty fast and nasty when the time hits... expect disappointment... like I said, if you were already holding KCS, then you are where you started and nothing has changed... however, if you bought KCS at a higher than normal price hoping for a 10x multiplier, then you might completely out of luck. In any case, don't buy more than than 75 USDT worth of KCS (assuming rough current prices, this would be the rough cap anyway) as that is the cap for the flash sale.

So, if none of this deters you... or you already have the KCS... make sure you have it ready in your trading account and make sure you complete your KYC (it is quick... generally...). Good luck to everyone and see you on the Kucoin page on the 16th of September!

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