KuCoin Token (KCS): What is it? Is it a good investment?


KuCoin is an exchange site competing with the world’s top cryptocurrency exchange sites like Binance. Like many other exchange platforms, KuCoin also has its own token, called the KuCoin Shares (KCS). 

The KuCoin Token is experiencing a special time. With both ups and downs, this coin has achieved an increase of 5,280.9% over the last three years – according to Coingecko. And crypto analysts still believe that the potential for this coin is many times greater.

Hence, in the following, I explain more about the KuCoin token. I also outline for you the further expectations of KuCoin Token in the short and long term. If you’re considering investing in this coin, you should read this article first.

What is KuCoin?

KuCoin is an international exchange platform based in Seychelles, with offices in Southeast Asia and China. Like other exchange platforms, it is used to buy cryptocurrencies (via FIAT currencies) or to exchange cryptocurrencies with each other. 

Since the launch of the exchange in 2017, KuCoin has grown into a very popular exchange platform with a large number of cryptocurrencies. 

KuCoin exchange supports over 500 cryptocurrencies and the list is constantly expanding and being updated with the newest ones. The exchange accepts users from over 100 countries in the world including Nigeria.

KuCoin is known as Binance’s number one competitor because they offer similar services. What sets KuCoin apart is that they return no less than 90% of all trading costs to the community. This is all done by their native token KuCoin Shares (KCS).

What is Kucoin Token (KCS)?

KuCoin Token, also known as KuCoin Shares (KCS) is the exchange’s native token. It is an ERC20 token on the Ethereum blockchain. The token is used for the following:

  • For the division of profits among investors.
  • To pay commissions for trading on KuCoin.
  • To make purchases or reservations.
  • To pay the rewards to those who are staking.
  • To pay the bonuses and incentives for those who register and use the KuCoin platform.

KuCoin Token (KCS) Origin

Although KuCoin launched in 2017, the team had been working on blockchain technology much earlier. The platform was supposed to have been created in 2013, but it took the team 4 years to fine-tune and optimize the exchange before it could go live in 2017.

An ICO(Initial Coin Offering) was held for the development of KuCoin in 2017. In the same year, KuCoin developed and released its own token – KuCoin Shares(KCS). KuCoin raised no less than $20 million in funds in the ICO. 

Where and how to buy KuCoin Token (KCS)

To buy KuCoin Token(KCS), you can either:

  • entrust to an intermediary broker, or
  • entrust to an exchange platform.

Let’s see what they both mean!

Intermediary brokers

With an intermediary broker, you do not buy or sell KuCoin tokens. You can only bet on the price variation of the token. 

The mechanism is simple: if you have focused on the rise in the value of the crypto and this actually rises, then you will earn. If this goes down, then you will lose. 

There are several top intermediary brokers that you can use like eToro.

Exchange platforms

Exchange platforms function differently from intermediary brokers. Buying a cryptocurrency through an exchange platform does not mean betting on its changes in value but buying and becoming the owner of the purchased tokens. 

The gain or loss will then be directly linked to the increasing or decreasing value of the cryptocurrency. As for the exchange platform to use, the ones I recommend are:

  • Binance: together with Coinbase, it is the most used in the world but unlike Coinbase, it guarantees lower commissions and numerous features.
  • KuCoin: the exchange platform of which KuCoin KCS is precisely the native token. Using KCS on KuCoin results in numerous bonuses and savings on commissions.
  • Coinbase: as I have said, it is an equally safe platform like Binance. It is also listed on the stock exchange but with higher fees.
  • Kraken: an excellent American platform that is easy to use and with good features.
  • FTX: A more recent but already established platform. The tools it offers are excellent, including a professional but easy-to-use interface, a dedicated app, and a large information section.

KuCoin Token contract address

Below is the contract address for KCS.

Ethereum: 0xf34960d9d60be18cc1d5afc1a6f012a723a28811

KuCoin Token (KCS) Current State of the Market

Currently, KCS is worth $18.63 on CoinMarketCap as of the time of writing. The daily trading volume is $5,194,888 and is ranked #66 on CMC.

Pros and Cons of KuCoin Token (KCS)

Pros

  • Traders who pay exchange fees in KCS can save up to 80%.
  • KCS is a cryptocurrency linked to a stable and used worldwide platform – Kucoin Exchange.
  • KCS holders take bonuses in the form of dividends.
  • You can get KCS when using the KuCoin platform.
  • KCS is an ERC-20 type token that can be exchanged with all Ethereum tokens.

Cons

The unpredictability of the cryptocurrency market. This is however a general consideration that not only applies to KCS but also to all the others.

Is Kucoin Token (KCS) a good investment?

As I always repeat, the world of cryptocurrencies is very volatile and it is difficult to predict exactly how the trend of one or the other crypto will be. 

However, regardless of the high volatility, buying KCS could prove to be an excellent medium and long-term investment. 

First of all, because the cryptographic market is constantly expanding – and also remember that KCS is linked to one of the major exchanges on the world scene. 

Furthermore, the continuous improvements to the KuCoin platform attract more and more investors daily – who rely on it to buy cryptocurrencies. This also implies that there’s a high probability of an increase in the value and stability of the native KCS token.

Finally, let’s consider the short-term and long-term predictions of some major crypto analysts:

  • WalletInvestor and its analysts speculate the value of KCS to be $34.104 by next year and $96.720 for 2027.
  • DigitalCoinPrice and its analysts forecast a gradual increase in the value of KCS. They believe the price to rise to $33.72 by the end of next year and approach $45.17 over the next 3 years.
  • Gov Capital and its analysts seem to be most optimistic about KCS. They forecast KCS value to be $65.72 by the end of this year and sail very high to be $442.722 by 2025.

Conclusion

Considering the latest developments and analysts’ forecasts, investment in Kucoin token(KCS) is a profitable option – especially for a long-term investment. However, I’ll encourage you to keep yourself updated about the latest developments about Kucoin. All the best!



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