This is the official HackerNoon wiki for KuCoin. As part of our coin price pages, this living wiki displays on KuCoin crypto price page. If you’d like to suggest edits to our official KuCoin wiki, please submit them in comment field below, a real human editor will read and review your suggestions for accuracy and publication.
Kucoin is a
History of KuCoin
The KuCoin exchange was started by Michael Gan and Eric Don. The founders started research on
The KuCoin exchange was open for trading in September 2017. The Initial Coin Offering was completed in September 2017 with around $27.5 million worth of
KuCoin was able to complete an upgrade into KuCoin 2.0 and announced the upgrade in February 2019 bringing changes to KuCoin like an
Biggest Claims to Fame
Its availability on iOS and Android widens its market to people who would not like to dedicate too much time to crypto. Users on the go can have KuCoin as apps on their phone and use it as needed. People can take time during their normal day to see the activity on their KuCoin. Security is also increased since it is very easy to find out when someone is messing around with someone else’s personal KuCoin account.
Through a partnership with Simplex, a European payment provider, KuCoin is able to bridge the gap between traditional currency and physical currency. This makes people less wary of putting their money into crypto as they know they can easily change their money into traditional currency if they feel uncomfortable with the trends they see in the crypto space. KuCoin has made it easy for users to deposit and withdraw funds between digital currency and physical currency.
KuCoin has its own digital token, the KuCoin Shares (KCS). Owning KCS tokens allows a user to trade with lower and discounted trading fees and rights to a share of trading commissions that KuCoin collects. KuCoin has traded over $71 billion worth of transactions so shareholders have earned a good amount of money from their investment in KuCoin; unlike investors in several other cryptocurrencies.
Biggest Criticism
KuCoin is unregulated by licensing bodies. This means KuCoin is an unregulated exchange which is liable to rise and fall in value without any oversight. There is no safeguard for any currency that exists in or goes through KuCoin which is a good thing for anyone who would like to buy and sell crypto anonymously but is bad for anyone who would like a regulatory safeguard for their investment in KuCoin.
There is no way for users of KuCoin to recover their money if ever the people who run the platform take the money they have on the platform and leave with it. There is no oversight or accountability to any country or regulatory committee and they have no sign-up process. The fact that anyone can make an account on the platform and not have to identify themselves makes follow-up of any amount of cash to an individual person extremely difficult. There is nothing to prevent or stop the people at KuCoin from closing down the company and leaving with all the money they have on the platform.
Team
Michael Gan is one of the founders of KuCoin. He was the co-founder and main developer of Missyi Inc, an editing and image-sharing app. He joined Alibaba’s Ant Financial as a technical expert later on. He got interested in
In Conclusion
KuCoin is a volatile and unregulated exchange. It is capable of being a good investment but no one can be absolutely sure of the future direction of the platform. Its being unregulated is one of the best things about it as the original point of cryptocurrency was
This is the official HackerNoon wiki for KuCoin. As part of our coin price pages, this living wiki displays on KuCoin crypto price page. If you’d like to suggest edits to our official KuCoin wiki, please submit them in comment field below, a real human editor will read and review your suggestions for accuracy and publication.