What you need to know about Kucoin and the Native Token (KCS)

Since it seems that every day, a new cryptocurrency is coming out and due to the volatility of the crypto-market as a whole, it becomes important for one to stay up-to-date on the current situation of a particular cryptocurrency. This, of course, is done through cryptocurrency exchanges. Most of the cryptocurrency exchanges are decentralized, meaning there isn’t a central owner and the whole regulation related to that exchange is managed by everyone. This is because cryptocurrency is a war against centralized control itself. But in this war against centralized exchanges, there is still one that is standing pretty tall against the rest; the KuCoin centralized exchange.

Now KuCoin expounds having the following features.

  1. Cheap trading fees: The trading fee is only 0.1% per trade.
  2. Supporting altcoins: A large assortment of lesser-known coins that can be potentially big in the future are available on KuCoin exchange.
  3. Fiat currency exchange available: Employing a peer-to-peer fiat trade, either debit or credit card, cryptocurrencies can be exchanged with fiat currencies such as USD, GBP, CNY, CAD, and AUD.
  4. User and beginner-friendly platform: Great UI for engagement
  5. Non-custodial trading: Since the Ku Coin exchange is centralized, some traders might have fears about its security. This is why KuCoin has partnered up with Arwen protocol so that investors can directly trade from their private wallets.

KuCoin is unique in a sense as, through it, one can passively earn by staking their KCS tokens, the native utility token KuCoin, on the centralized exchange. The KCS tokens, an ERC-20 token built on the Ethereum blockchain, can themselves be used to pay trading and participate in events set up by the exchange as well as engage in sales of these tokens. Initially, the token supply of KCS was at 200 million but that has been reduced to 170 million with a circulating supply of 80 million. The total supply may be reduced in the future as well.

Price Movement KCS

At the time when this article is being written down, the current value of KCS is $21.32 with a trading volume of about $85,482,809, a 415.07% increase over the past twenty-four hours. This value may grow with the passage of time, it may also become the largest centralized crypto-exchange in the world if it hasn’t already. All the predictor websites have a positive outlook, with Wallet Investor predicting a value within the year of $35.923 and $93.043. This is a rough estimate but the value would probably be more with the burning and buying back strategy.