KuCoin (KCS) - a cryptocurrency exchange token can repeat the success of BNB?

Binance Coin (BNB), i.e. a token Binance stock exchange, currently you can buy for around $ 300 and this is at a large discount that has hit the entire cryptocurrency market. Two years ago, however, it could be purchased for a dozen or so USD. Is a token of a decentralized cryptocurrency platform KuCoin (KCS) can it bring you similar rates of return? We check. 

We are continuing the cycle of the Forex Club portal in which we analyze and describe the largest, highest-valued, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for KuCoin - a cryptocurrency exchange token of the same name, which uses all the mechanisms that have successfully proven themselves in competition. 

How the KuCoin token was created

Let's start with that KuCoin is the fifth decentralized cryptocurrency exchange in the world in terms of daily trading. Therefore, the owners quickly came up with the idea to create their own utility token. However, it is not supposed to be the fuel of the stock exchange, which will, for example, reduce the level of transaction fees. Over time, it allows owners to get more and more options. It is to be the foundation of the business, not only its complement or addition, which will make it possible to "only" earn more on the basic activity.

“KCS creates a bridge between the centralized and decentralized world, connecting KuCoin and the entire KCC community. What's more, it paves the way for the creation of a self-rotating money ecosystem with the support of the community and it is no secret that it will transfer blockchain from the group of geeks to mass adoption " - convinces Johnny Lyu, founder and CEO of the KuCoin cryptocurrency exchange.

Will this happen? Transaction discounts for KCS holders are really encouraging, as they can reach up to 80%. Currently, KCS tokens can also be used to pay for hotel reservations, buy games or equipment for them. The functionalities are increasing literally from month to month and all indications are that these were not words thrown to the wind.

How the KuCoin (KCS) token works

Earning money on the KCS token is child's play, because one of the basic offers is his stacking. KCS holders get an interest rate for blocking coins, which depends on the earnings of the exchange. 50% of its income is allocated to it. The exchange, operating since 2017, also rewards loyal users. The more and the longer the tokens held, the more the interest on deposits based on the loyalty point system grows, rewarding those who constantly believe in this project.

Of course, the prizes are paid out in KCS tokens, which are also a deflationary currency. Every quarter, some tokens are burned regularly. The number of burned tokens depends on the turnover - the greater the turnover on the exchange, the more tokens are withdrawn from the market.

So you can clearly see the analogies between the KCS token and BNB, which is an example of incredible success on the cryptocurrency market. Will it be possible to repeat it? The last year is optimistic. Although the past 12 months have been a period in which the cryptocurrency market has been in a subdued mood, KCS increased the price by 136,82% during this time.

KuCoin (KCS) cryptocurrency quotation

As of May 27, 2022, you must pay $ 15,49 for each KCS token. There are currently 98 tokens in circulation, which translates into a capitalization of over USD 379 billion. KCS can be purchased today at 27 cryptocurrency exchanges from around the world. The peak of trading took place on December 1, 2021, when you had to pay USD 28,81 for each KCS.