About KuCoin Shares

KuCoin Shares Review: Mining Guide, Price & Analysis of KuCoin Cryptocurrency

Kucoin Shares is a cryptocurrency that powers the KuCoin exchange. KuCoin is one of the world’s top cryptocurrency exchanges. It currently stands as the 7th exchange in terms of the trading volume. In turn, the KuCoin Shares coins are seeing similar success.

KuCoin Shares coins are exciting. Holders of this coin gain the right to earn from transaction fees on the KuCoin exchange. You earn a daily percentage of the returns from transaction fees.

Hence, the success of the exchange means that investors gain more returns from their coins. This is one of the reasons why this coin is gaining a lot of success in the community. Holders of this coin gain a sense of ownership. This model that shares the profits to coin holders is very appealing.

Moreover, KuCoin is easy to use and secure. Hence, many users are trading their crypto assets on the exchange.

How KuCoin Shares Work

Currently, KuCoin Shares is an ERC-20 token hosted on the Ethereum blockchain. However, the development team is planning to launch its own mainnet. Holders of this token receive daily returns from the transaction fees on KuCoin Shares.

These returns depend on the number of tokens you hold. Additionally, they depend on the performance of the KuCoin exchange. If the exchange sees large trade volumes, then users pay more fees. Hence, the bigger the return that holders of KuCoin Shares receive.

Additionally, KuCoin Shares have another use case. When transacting on the KuCoin exchange, you can pay your transaction fees in this cryptocurrency. This entitles you to a discount. Hence, you save a lot when you pay using KuCoin Shares.

The developers of KuCoin ensure that the token’s value does not drop drastically. They do this through a buy-back program. They use 10% of the profits to buy and burn KuCoin Shares tokens every quarter. This is not something new. It is something that many developers are incorporating into their network’s policies.

Consequently, holders of KuCoin Shares have many avenues to gain profit just by holding the coin. You receive daily returns straight to your wallet. Additionally, your tokens gain value over time. This is due to the buy-back system.

Can Investors Mine KuCoin Shares?

No, it is not possible to mine KuCoin Shares. This is because KuCoin uses the Proof of Stake consensus algorithm. Here, validators confirm transactions on the network. However, you need to own a minimum number of tokens to become a validator.

Hence, not everyone can become a validator. This creates the risk of centralized mining. This is the leading cause of 51% attacks. However, Proof of Stake makes it costly to perform a 51% attack on a network. This is because validators hold the most coins in the network. It makes no sense for them to attack a network in which they have a considerable stake.

KuCoin has a platform known as Pool-X. This platform helps users stake their coins easily. This platform gives users higher yields. Moreover, it allows users to choose which token to stake. You can stake TRX, IOST, ATOM, ZRX, and many more on this platform.

The Team behind KuCoin Shares

The founder of KuCoin is Michael Gan. He serves as the chairman of KuGroup, the body that oversees the management of the KuCoin ecosystem. He is a former technical expert of Ant Financial of Alibaba Group. Additionally, he is a veteran of financial solutions. Further, he was a senior partner of Internet giants like MikeCRM and KF5.com.

By his side is Johny Lyu. He is a co-founder of KuCoin and Pool-X. He is also the head of KuCloud. He serves as the CEO of KuCoin Global. He is responsible for the day-to-day operations of KuCoin, KuMEX, and Pool-X. These are all products in the KuCoin ecosystem.

Both of these individuals have an excellent track record. Additionally, they have more experienced individuals in the team. This forms one of the best management teams in the cryptocurrency space. The KuCoin project is in safe hands.

KuCoin Shares Performance

At the time of writing this, the platform sees a relatively excellent performance in the markets. This coin currently holds the 140th spot in market cap sharing. This shows that the coin has great potential to break into the top 100.

Initially, KuCoin pre-mined a total of 200 million KCS coins. However, now the total supply stands at 170,118,638 KCS. This is because of the buy-back and burn program. This program ensures that the value of KCS tokens does not drop drastically. The total circulating supply is 80,118,638 KCS.

Privacy and Security

The developers of KuCoin ensure clients that the exchange is entirely secure. Additionally, they boast of the best security in all of their products. Further, the team assures users that their privacy is a priority. They believe that their world-class security measures will keep out any intruders.

However, KuCoin is not without blemish. They have been a victim of a massive attack. This attack saw KuCoin lose over $280 million. This is a worrying detail. No one wants to use an exchange that can lose their assets through a security breach.

To ensure clients everything is okay, KuCoin implemented a few security updates. They believe that these make the exchange virtually unbreakable. Additionally, they assure customers that their details remain private.

Our Take on KuCoin Shares

KuCoin is always a top ten exchange in terms of the trading volume. This is because it offers users versatility. There are many cryptocurrencies that you can buy and sell on the KuCoin exchange. The platform has high liquidity and makes it easy to sell and buy crypto assets.

However, the security incident is a great cause for concern. At the time of writing this, the incident is still fresh in the mind of the public. This may drive some people away from this exchange. There are several other exchanges doing better in the market. Moreover, these exchanges do not have a security breach on their track record.

Advantages

• It is one of the top cryptocurrency exchanges.
• The platform has high liquidity.
• KuCoin exchange is easy to use.

Disadvantages

• The platform has a security breach in its track record.
• KuCoin faces competition from exchanges with greater trading volumes.

How to Buy KuCoin Shares

There are certainly perks to owning the coin. Hence, you may want to add this cryptocurrency to your portfolio. The best way to do that is to buy it. The best exchanges to obtain KuCoin Shares include KuCoin, Bitfinex, BitMax, and ProBit Exchange. The spruce of one the currency currently stands at $0.790372.

You may choose to remove your coins from the exchange account. For this, you will need a cryptocurrency wallet. Any Ethereum supported wallet will work. Some examples include MetaMask or Lumi Wallet.

Final Verdict

KuCoin is a great platform to trade crypto assets. It has great liquidity and a huge trading volume. Moreover, it has millions of users from all over the world. However, there is no compromise for security. The recent security incident is a worrying factor.

Nonetheless, KuCoin Shares are a great asset. With the recent security updates, the hope is that KuCoin will not see another incident like this. If that is the case, then the coin value will go up significantly.