Is Kucoin safe?
KuCoin is a fast-growing Blockchain asset exchange platform that is relatively new but has been increasing. It was officially launched on September 15, 2017, and records over $100 million in transactions in 24 hours.
The development of KuCoin started in early 2011; the system's technical architecture is fully scalable and highly reliable. KuCoin's high-performance engine system was launched later in 2017; it can place more than 2 million orders per second without any stress or delay, even during market booms.
KuCoin's unique features have catapulted its exchange platform to competitive levels in the $100 billion cryptocurrency market. These features include:
Stability of the financial level
The KuCoin platform uses a multi-cluster and multi-layer architectural system that can accommodate more than one transaction coinciding. This feature ensures that the system is stable at all times, even in adverse times such as in case of hardware failure.
System Security
The system follows the standard encryption protocol; it ensures that all user data transfers within the system is kept hidden from other users. This way creates a sensitive and secure cryptocurrency exchange platform that provides maximum security for conducting transactions.
Customer Service
A good customer service is very important in these types of platforms that work with our personal funds, it could be said that if we feel the support of the company we will feel more confident when investing. In Kucoin unfortunately there is no telephone support to contact the company.
All the consultation procedures are done through the live chat, which although it has support in several languages and 24/7 attention, it is not as comfortable and personalized as perhaps the person-to-person telephone support.
Is it a scam? Is it legit?
At first, we might be a little scared to start making transactions on a site that does not provide us with much information and is not regulated at first glance.
On the Kucoin website, the tax information seems to be a bit unclear. This lack of knowledge leads us to think that this website is not regulated, but that is not a great reason to be alarmed. Nowadays, there are plenty of unregulated sites that are ideal for those who want to make transactions without providing a lot of information. Kucoin is based in Singapore and their team is made up of cryptocurrency experts.
Some people probably prefer to do this kind of transaction on regulated websites, which will take a lot of information and more time.
However, it should be noted that this entity is not regulated by financial regulators, as is the case with popular brokers on the market. This disadvantage is compensated by direct access to the market and low transaction fees (0.10%). Therefore, traders will have to choose if they prefer to trade with an unregulated broker.
This site is the right one for people who prefer to enter the trading market without wasting so much time and without providing so much information.
Efficient customer service
KuCoin's customer service team is available 24/7 for consultation and assistance on all issues affecting the platform. Issues can be resolved through the company's website or their official email.
Support for multiple cryptocurrencies
The KuCoin Blockchain asset exchange platform offers convenience by supporting over 210 significant currencies; ETH, BTC, NEO, and all ERC20 tokens. This allows users to conduct all their exchanges on a single platform.
These features have played an essential role in the growth of the exchange platform; however, the primary fuel for its success is KuCoin shares.
Shares of KuCoin (KCS)
KuCoin Shares (KCS) are the official KuCoin tokens; they serve as rewards for new and existing KuCoin users; the tips take the form of KuCoin invitation and KuCoin bonuses, respectively. The KuCoin bonus is intended for KSC holders who make trades using the KuCoin platform. Therefore, the bonus is in dividends; a portion of 50% of the total trading commissions paid is distributed among these KuCoin holders.
This means that users who hold more KCS receive more dividends. However, the most exciting thing about the KuCoin bonus is that holder of KuCoin shares only receive it; it can be any currency available on the cryptocurrency exchange platform, such as NEO or BTC. This is a particularly positive factor for KuCoin's growth; with the increased use of the exchange platform, the coins offer more value to the dividends paid as cryptocurrency values soar.
How to buy KuCoin shares
KuCoin shares have a full offering of 200 million coins; 35% has been distributed among the founders, and 15% has been issued to investors and consultants. The remaining 50% is available to the public.
These first two distributions are tied to a lock-up period in which the amount shared between the founders was locked up for four years until September 2, 2021, while the 15% allocated to consultants was locked up for two years until September 2, 2019. However, founders were allowed to sell or give an amount equal to 25% of their historical trading volume within 365 days from September 3 until September 2, 2021, while consultants could also sell or allocate 50% of their total historical trading volume within 365 days from September 3, 2018, until September 2, 2019.
KuCoin shares are available for purchase by exchanging ETH, NEO, or BTC. You can buy any of these coins on platforms like Coinbase or ICO.io; they allow users to use credit or debit cards to purchase the coins. Once you have these coins, you must transfer them to the official KuCoin exchange site and then trade them for KuCoin shares.
KuCoin Share Storage Wallet
KuCoin Shares is built on the Ethereum Blockchain, which makes it an ERC20 token. This means that one can store their KCS in any wallet that supports the Ethereum Blockchain. The most commonly used Ethereum Blockchain wallet is MyEtherWallet (MEW), but one can store coins in a hardware wallet such as the Trezor or Ledger Nano S.
The team behind KuCoin Shares
In its bid to propel KuCoin's exchange platform to become the leading cryptocurrency exchange platform, KuCoin's team consists of dedicated and well-trained members who have extensive experience in the cryptocurrency industry.
Michael Gam, the company's founder and CEO, is a former technical expert who has worked at the Chinese Alibaba Group subsidiary Ant Financial and Internet giants KF5.com and MikeCRM. His partner Eric Don, the current COO, is a star in the Internet industry, having worked for IT companies such as KITEME and YOULIN.com as a senior partner.
The experience and expertise of the core team members allow us to reflect on the future of KSC on the way to realizing its full potential.
What makes KuCoin different from other exchanges?
KuCoin is similar to other cryptocurrency exchanges; however, some elements set it apart from the rest. First, KuCoin is a fairly solid platform that has maintained a consistent performance despite its short time on the market.
Different promotions published every week: this is one of the most attractive features of this platform. They usually post contests to raffle bitcoin and other cryptocurrencies to users who participate in trading contests. You can also win by sharing KuCoin campaigns on Twitter. This probably won't last too long, so take advantage of these promotions while KuCoin is still trying to attract more customers.
The cryptocurrency offer of this exchange is highly varied. They have added very new digital currencies, fresh from their ICO offerings. Thus, you can become an early investor in more recent projects.
They offer customer service, a service that is difficult to find in this type of platform.