KuCoin

KuCoin was launched in 2017 as a profit sharing token, allowing traders to obtain value from brokers. It is issued as ERC-20 token running on the network and is supported by most Ethereum wallets.

KuCoin offers many benefits to its participants, including discounts from time to time and its dedicated cryptocurrency KSC, which is considered one of the best ways to earn passive income. On the network, participants with more than 6 KCS can enjoy daily dividends, which will be paid at 50% of KuCoin's daily trading income. Another winning point is the KCS bonus system through the network, which is a unique incentive mechanism for token holders and participants who build the KuCoin ecosystem in general.

Generally speaking, the number of rewards that network participants can obtain depends on the number of KSC tokens held and the total trading volume of KuCoin exchange at that time. These arrangements make KCS network ahead of most other available cryptocurrencies, such as chain only, which focuses on information flow.

How does KuCoin (KCS) Work?

In addition to its native function of dividend payment, KCS utility tokens are also used to pay the transaction fees of KuCoin exchange and allow its users to enjoy a discount of up to 80%. The KuCoin use case also includes the highlights of participating in the sales token KuCoin and the burndrop / lockdrop on the Pool-X platform.

However, this is not the end of its use, because it also attracts many uses within the network. For example, kocoin network participants with KCS tokens have the advantage of becoming VIPs in the KuCoin network. This eliminates the need to reduce the costs of manufacturers and recipients by regularly conducting a large number of Bitcoin transactions. KuCoin tokens can also be used as payment methods for a variety of goods and services, including hotel reservation, shopping, and game equipment purchase.

What is KuCoin (KCS)?

The total issuance volume of KCS is constant at 200 million and will never be increased. KCS coin is a decentralized blockchain blockchain asset issued by Ethereum. It is an ERC 20 standard token based on Ethereum blockchain.

KCS (KuCoin token) plays an important role in the whole KuCoin ecosystem. Presently, KCS, as the official token of KuCoin platform, is based on the decentralized ERC-20 standard asset issued by Ethereum and supports all Ethereum wallets.

Since 2017, KCS has provided convenience for users to use the platform as a means of payment of transaction fees in KuCoin exchange and even to earn money. In addition to the KuCoin platform, KCS also supports more scenarios such as game ecology.

In 2020, KuCoin officially laid out the public chain field, and KCS will also become a key element to help the decentralization process of KuCoin. It will migrate from the Ethereum contract to the KCC public chain and become the native token of the KCC public chain. As an on-chain fuel, it will provide power and incentives for the public chain ecosystem.

KuCoin (KCS) Crypto Wallet

In addition to placing KCS in the Gate.io exchange to facilitate trading, KCS can also be placed in a crypto wallet.

KCC wallet is the place where KSC and standard tokens KRC20 and KRC721 are stored in KCC's blockchain platform. You can send and receive KSC and standard tokens and interact with applications on the KCC platform. KSC is the native token of KCC. KSC holders can use it in the following use cases:

Get passive income from KuCoin's daily transaction fee income.
Pay gas fees for transactions on the blockchain.
Participate in governance and determine the development direction of KCC.
Participate in the purchase of tokens for projects publicly offered on Kucoin Spotlight.

KCC wallet has three very important information you must keep an eye on:

Wallet address: a string of numbers and characters used to send assets to KCC wallet. Other people can transfer money to you through the wallet address provided by you. KCC wallet address (KCS, KRC20, KRC721) will have the following format:

0x8fe0b65F7DFB4E03651e4EDa9288b832B5a5299F

Passphrase: security key, which can be understood as a password composed of any 12 English keywords. If you want to perform wallet recovery, you must log in with a password. Passphrase format: Swallow garbage to reach the address panel and double turn the malicious tenant's media authorization to move.

Private key: the string format used to connect accounts, which is very similar to the bank account password. Private key format: 0xf7fd4b9b68193bf56e3c202fad20deb30daece19395a09e083e29875bfd8b344

To make it easier to imagine, you can imagine the KCC wallet as a bank account. The wallet address is the account number, and the passphrase / private key is the password.

The difference here is that with a bank account, other people will know your personal information. As for the KCC wallet, you are anonymous. No one knows who you are, but you can only trade through the address encoded into numbers and character sequences.

Recommended KCS wallets include MetaMask, Ledger, imToken, Coinbase, TokenPocket, iToken Wallet, Freewallet, Assure Wallet, etc.