What is KCS coin? Is Kucoin Token a good investment & why?

Being one of the exchange-based coins with a billion-dollar market capitalization shows significant support from the crypto community for KuCoin Token. So, what is KCS coin, should you invest in KCS coin, and what are the advantages and disadvantages of KuCoin Token? Let’s explore these questions right now.

Contents

1 What is KCS Coin, and Should You Invest in KCS Coin?

What is KCS Coin, and Should You Invest in KCS Coin?

What is KCS Coin/KuCoin Token?

KuCoin Token (KCS) is the exclusive token of the KuCoin cryptocurrency exchange, released in 2017 as a utility token to allow traders to share the growth benefits of the exchange.

It is currently issued as an ERC-20 token running on the Ethereum network and is supported by most Ethereum wallets. In the future, when KuCoin’s decentralized exchange solutions become operational, KCS will be the native asset for DeFi services of KuCoin and the governance token of the KuCoin community. The total supply of KCS is set at 200 million, and the project will implement a buyback and burn plan until only 100 million KCS remain.

Holding a minimum of 6 KCS allows users to earn passive income. This income is shared from 50% of KuCoin’s daily transaction fee revenue. The more KCS a trader holds, the more rewards they earn, with recent statistics showing rewards from holding KCS reaching over 30%. Additionally, according to KuCoin’s report, some users have received up to 70,000 KCS for holding the token.

Basic Information about KCS Coin:

Trading symbol: KCS
Contract: 0xf34960d9d60be18cc1d5afc1a6f012a723a28811
Blockchain: Ethereum
Token type: Utility token
Token standard: ERC-20.
Total supply: 200,000,000 KCS
Circulating supply: 120,257,114
Current price of KCS coin: $ 11.39

What is KuCoin?

KuCoin is one of the top 10 largest cryptocurrency exchanges in the world, with over 10 million investors from more than 200 countries globally.

KuCoin boasts one of the most complex security and maintenance teams in the world, continually upgrading their security system to ensure the safety of user assets and accounts.
KuCoin supports trading between fiat currencies (such as USD, JPY, VND, EUR, RMB…) and cryptocurrencies, also offering support for over 50 fiat currencies through the P2P market or via credit/debit card channels.

Who are the Founders of KuCoin (KCS)?

The CEO of KuCoin cryptocurrency exchange is Johnny Lyu, a Singaporean graduate in e-commerce. Before co-founding KuCoin, Johnny Lyu held various positions in the e-commerce, automotive, and luxury goods industries. At KuCoin, Johnny has led the business development, listing, and strategic investment teams, and has been the driving force behind Spotlight, Pool-X, and KuCloud.

Roadmap of KuCoin (KCS)

The goal of KCS is to become a fundamental asset, built to participate in all activities of KuCoin and not just as a simple token. For instance, it will be involved in KuCoin’s Blockchain ecosystem with applications like DeFi, DEx through the implementation of smart contracts.

With the objective to place KCS among the top 15 or 30 largest market cap coins globally between 2022 – 2023 and increase the number of KCS holders. KuCoin has also announced that “Empowering KCS” will be the main priority for KuCoin and will diversify benefits for KCS coin holders in the future.

What is KCS Coin Used For?

The functions of KCS for the KuCoin exchange are as follows:

KCS can be used to pay transaction fees on KuCoin Exchange, allowing users to enjoy a 20% discount.
KCS token holders have the right to participate in token sales on KuCoin Spotlight and LockDrop/BurningDrop on the Pool-X platform.
KCS can also be used to pay for hotel bookings on Travala – a famous hotel booking platform built on blockchain technology.
Used for payments and transactions on BetProtocol’s gaming applications.
Can be used for payments and transactions on the decentralized payment platform SwirlPay.
Utilized for fee payments and transactions on the live gaming platform PlayGame.
Buy fashion products on Print-ted with KCS.
Use KCS to purchase monster card packs on Splinterlands.
KCS is used for various online and offline payments through Pundi X.

Price Trend of KCS Coin

Let’s review the price trend of KCS coin in recent months:

Now, choose ALL to view the entire price trend of KCS coin. You can also view daily price changes by selecting 1D, weekly by selecting 1W, monthly by selecting 1M, 3M, 6M, or yearly by selecting 1Y.

+ When it first went public in November 2017, the price of KCS coin was around 0.6 USD; two months later, the price of KCS increased to 18 USD before entering a long period of decline. This price drop is attributed to the value of KCS being pushed too high within just two months, so it decreased to return to its real value.

+ Since reaching its peak in January 2018, the price of KCS was only 0.62 USD at the end of 2018. The price continued to decline to about 0.34 USD around February 2019.

+ From February 2019 to April 2019, the price of KCS saw a remarkable increase, reaching 2.1 USD. Afterward, the price of KCS gradually decreased and remained stable from the end of 2019 to the end of 2020 at around 1 USD.

+ Entering 2021, the price of KCS witnessed impressive growth along with the general trend of the cryptocurrency market. At the beginning of the year, the price of KCS was only 0.7 USD, but within four months, it increased to 17.92 USD. Interestingly, while most coins created a bottom in July, KCS did it in June and rose strongly in July. In June, the price of KCS dropped to only 6.64 USD, but in July, it increased to over 12 USD and reached 14.83 USD in September.

+ In November, as the price of Bitcoin rose to nearly 70,000 USD, KCS also increased significantly. In early December, although the price of Bitcoin fell, the price of KuCoin Token did not follow suit and even reached its all-time high of about 27 USD.

+ From early December 2021 to the end of January 2022, the price of KCS coin also sharply decreased following the general trend of the cryptocurrency market and the price of Bitcoin. It was only about 15 USD at the end of January 2022.

+ The current price of KuCoin Token (KCS) is: $ 11.39

=> In the long term, the price of KCS coin tends to increase but is still affected by the price of Bitcoin as well as the general cryptocurrency market.

Should You Invest in KCS Coin?

To determine whether you should invest in KCS coin, let’s analyze its advantages and disadvantages.

What are the Advantages of KCS Coin?

♥ Helps you earn passive income by holding KCS coins.

♥ KuCoin is among the top 10 largest cryptocurrency exchanges globally with an increasingly stable user base, which will enhance the value of KCS coin through the exchange’s transaction fee reduction policies.

♥ Limited supply of KCS, plus KuCoin’s buyback and coin burning policy are advantages that help increase the value of KCS.

♥ KCS is being developed to have more functions, not just as an ordinary token, but also to participate in other applications like DeFi and DEX (decentralized exchange)…

♥ Being a top 100 cryptocurrency in terms of market capitalization shows it is receiving a lot of attention and interest from the community.

What are the Disadvantages of KCS Coin?

♦ Can only be traded on KuCoin.

♦ High volatility and high risk.

♦ Faces competition from other exchange coins like BNB (Binance), HT (Huobi), CRO (Crypto.com), UNI (Uniswap)… as well as tens of thousands of other coins currently circulating in the market.

♦ Not legalized, so if investors encounter any issues, there is no one to protect them.

♦ Price is affected by the price of Bitcoin.

♦ In November 2020, KuCoin was hacked, resulting in the theft of $281 million in cryptocurrency assets. Although all the money was later recovered through various means and returned to users, it cannot be guaranteed that no such hack will happen in the future as it is an attractive target for many hackers.

♦ KuCoin was once accused by a Reddit user named HammondXX of profiting from liquidation fees generated during large market fluctuations, leading to users being denied access. Although it was later explained, many people were still not fully satisfied with the response.

=> KCS is rated quite well for a long-term investment as it is being developed with many new features that KuCoin plans to implement clearly. However, due to the high volatility, any investment in KCS coin should not be hasty. On the other hand, since the cryptocurrency market is still not recognized by most countries globally, the potential risks are quite significant, and you should only invest a small amount of capital.

Where to Buy KCS Coin, Which Exchange?

In reality, if you want to trade KCS coin, you can only buy/sell it on the KuCoin exchange. There may be other exchanges that trade KCS, but the liquidity is extremely low.

Currently, on KuCoin, you can trade KCS in pairs with a few other cryptocurrencies such as USDT, ETH, BTC, BNB, LUNA, ATOM, XRP, ADA…

Wallet for Storing KuCoin Token (KCS)

SUMMARY:
♦ KCS is the native token of the KuCoin cryptocurrency exchange.
♦ You can only trade with KCS on KuCoin and not on other exchanges like Binance, Coinbase, Huobi…
♦ KCS is a utility token based on the ERC-20 standard, so it can be stored in many different Ethereum wallets.
♦ KCS is quite promising for a long-term investment but should not be invested with large capital due to high volatility and risk.

See more related useful information:

Through this, you surely now understand what is KCS coin and the potential development of this cryptocurrency. If you have any questions or opinions related to KCS coin, remember to leave a comment for community discussion. Wishing you accurate investment choices and success.