This article explains the use of the KuCoin Shares cryptocurrency, also known as KCS. This token is issued by the KuCoin exchange.
If you do not have an account on KuCoin yet, you either check out this guide or:
What are KuCoin Shares?
KuCoin Shares is a cryptocurrency issued by the KuCoin Exchange. If we have to explain shortly: When you hold KCS KuCoin will share 50% of their trading fee revenue with the KuCoin share holders. This means the more volume being trade on KuCoin, the more you earn.
To obtain the daily bonus, users would need to deposit their KCS into KuCoin Platform. Then the platform will conduct accounting and award bonus based on to the KCS holdings in user’s account at 0:00 (UTC+8) that day and all the trading fees charged to the platform on the previous day.Then the bonus gained by users will directly put to their Kucoin accounts in the corresponding currency
Also when you hold some KuCoin Shares you receive discount on the trading fees trading on KuCoin. So it is worth to hold a big stack of KuCoin to earn a passive income and trade on KuCoin to get cheap trading fees.
After the KuCoin platform opened for use, at least 10% of the net profit will be applied to the buy-back of KCS every quarter. The KCS retrieved through buy-back will be destroyed immediately. The buy-back record shall be released to the public at the first time, so that users can review via blockchain explorer, to ensure the open and transparent nature of the whole process. We will continue our efforts in this regard, until 100 million KCS destroyed. The total supply of KCS is 200 million.
You can use easy tools to calculate the returns you get from holding KCS. Tho it depends a lot on the trading volume of the exchange. Sometimes you get way more because the market was really active. You can use www.kucoinshares.com this tool is created by NinjaWTF. Since KuCoin shares is a relative new exchange the volume is still low. When the volume goes x10 the returns will go x10 as well.
Get in Touch