KuCoin Review

KuCoin Overview

  • Business model: Crypto Currency Exchange
  • Symbol: KCS
  • Coin type: ERC20
  • Token benefit: Owners will earn a share of revenues will come from exchange fees.
  • Current issuance: 200 million, of which 100 million by the team and advisors. The founders and advisors will be locked until Sept 2018 and Sept 2021 respectively.
  • Value:  Good Customer service, Secure platform, Bank-level encryption

Opportunities for KuCoin

  • KuCoin can grow as the cryptocurrencies market grows. The top 10 platforms in the world transact 10 million each with an average commission rate of 0.1% this a revenue stream of $100,000 per day. Fees on Poloniex start at 0.15% and on Bittrex at 0.25%
  • KuCoin is focused on marketing, with many incentives for its users to promote Kucoin. This creates liquidity, community and fee revenues.
  • Encryption and security of the platform is similar to banks, They use a system of macro and micro bank wallets.
  • Strong business continuity and disaster recovery planning.
  • Can transact more than 2 million transactions a second.
  • Users holding KCs will
    • Jointly be awarded 50% of the trading fees.
    • Discounts on their trades
  • 10% of the net profit will be used to buy back KuCoin coins until they buy 100,000 tokens.
  • The Team seems to have a reasonable amount of experience in managing large projects.
  • KuCoin has an emphasis on R&D, in the future, they plan to decentralise certain parts of the exchange.
  • KuCoin offers Coin pairs before other exchanges do. This will enable them to capture market share.
  • Deposits into the platform completed within 2 minutes and withdrawal within 10 minutes.
  • Neo deposited on KuCoin receives GAS
    KuCoin has a working exchange, this is a proof of value! Compared to many other ICOs this is a more solid value proposition.
    Users can recommend their friends to KuCoin, by doing so they will earn a slice of their trading fees.
  • KuCoin’s referral system, gives 40% of trading fees to the users.  according to this announcement: https://news.kucoin.com/en/kucoin-will-launch-invitation-bonus-plan-on-1st-october/

Click here to join KuCoin



Concerns about KuCoin

  • KuCoin is an exchange based in HongKong, although is not part of the business regime of China, it does fall under Chinese rule.
  • KuCoin will not be a fiat gateway
  • Exchanges are a very competitive market, with the likes of Exscudo and on the verge of being launched. KuCoin needs to work hard on their competitive edges to make this a success.
  • Many pairs are already trading in established markets, with key market makers comfortable with the level of security these alternative exchanges provide
  • KuCoin could have benefited from a name which describes their value proposition better.

Conclusion

The strong focus on marketing is a big bonus to create liquidity on KuCoin, users are incentivised to hold the KuCoin and to buy their cryptocurrencies on this exchange. It has an easy to use interface with a focus on making trading easy.

Click here to join KuCoin