KuCoin (KCS) Crypto Review 2024: Complete Guide

€ 9.6628

-1.1815381955
Last updated 19:06:02 UTC
Market Cap
€ 924.18 Million
Fully Diluted Market Cap
€ 1.64 Billion
Volume
€ 694,584.03
Circulating Supply
95.64 Million KCS

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The KuCoin token (KCS) is the official token of the KuCoin cryptocurrency exchange. KuCoin is a very popular exchange that notably has one in every four cryptocurrency users worldwide choose the platform as their preferred option. While this platform has its own KuCoin review like the other best crypto platforms on Tokize, we will be focusing on KCS which is the native token of the KuCoin exchange platform.

KCS is already a well-known asset to many users of the exchange platform. The token has several perks, particularly for KuCoin users who can benefit from it during their exchanges and actions.

Kucoin

What is KuCoin (KCS) Token?

As is the case with many cryptocurrency exchange platforms in the market, KuCoin’s interest was to create its own token to attract new users and potentially increase the value of KuCoin by offering several use cases to holders and traders on the platform.

The KuCoin token is a standard fungible token that is based on the Ethereum blockchain. It is therefore an ERC-20 token with a simple purpose: to enable users of the KuCoin platform to benefit from a flow of passive income when they own this token themselves. To put it simply, KCS holders can receive part of the benefits of the KuCoin platform.

Another interesting and one of the most accessible offers to various KCS token holders is the ability to benefit from up to 30% fee reductions on the KuCoin platform. 

Many investors and crypto enthusiasts also favor the KCS token for its redeem and burn function, which allows for the gradual increase of the value of tokens in circulation. This method has become common in the world of crypto and the increased token value is a result of the reduction of the total number of tokens in the market. 

KuCoin

  • Wide range of cryptos
  • Advanced Trading Options
  • Competitive fees

The History of the KuCoin Token

To understand the genesis of this eponymous asset, we need to journey back to 2017 and the very creation of the KuCoin platform itself because the history of the KCS token is directly linked to the KuCoin platform. The now renowned market leader in the world of cryptocurrency and exchanges is actually the work of two friends who were considered geniuses and coders from an early age – Kent Li and Michael Gan.

Kent and Michael are KuCoin founders. Although they started in 2013, they didn’t launch the platform until 2017. Since then, KuCoin has become a big name in the crypto industry. It’s known for its success and many crypto users like it. The KuCoin token is a part of this success. It was launched just after the platform started operations. Kent and Michael’s good planning has made KuCoin very prominent among crypto exchanges.

The KCS token was launched as an ERC-20 token on the Ethereum network a few days after the creation of KuCoin and was initially designed as a sharing mechanism between the platform and its users. The goal was to encourage crypto owners to enjoy a better experience through several benefits.

Initially, the KCS was only a simple “practical” token used to pay exchange fees and to access exclusive campaigns on the platform. Since then, the token has been advancing at an impressive rate and is not likely to stop its streak if we stick to the words of its creators. Now, the KCS token has become the keystone of the entire KuCoin ecosystem and is integrated into many actions on the platform.

Why was the KuCoin (KCS) Token Designed?

It is not always easy to define the projects of certain cryptocurrencies. However, the existence of multiple ERC-20 tokens linked to various platforms can be explained for obvious purposes. As for Kucoin and other exchanges, the creation of a native token makes it possible to popularise their platforms and opens up more possibilities within their respective ecosystems.

The KCS token was also issued through an ICO, that is, an Initial Coin Offering as is very common in the world of virtual currencies. During the ICO, a total of 200 million KCS tokens were issued in September 2017 and this figure included half of the tokens available to the general public. Since then, the platform has gradually bought and continues to buy several thousand tokens in circulation to increase the value of those still present within the offer and to raise the general interest around this crypto, as well as the parent platform.

Since then, the token has also grown since it is included in the development of the KuCoin Community Chain (KCC), a decentralized platform that hosts projects for Web3, in which the platform is very strongly involved.

Kucoin

How does the KuCoin (KCS) Token Work?

All ERC-20 tokens typically share common characteristics and operate within the peripherals of tokens closely associated with certain platforms. However, the KuCoin token stands out for offering a wide range of utility

The KCS token can be used for different things on the platform while maintaining its primary cryptocurrency attribute as an investment vehicle that offers a return on investment when the required conditions are met and you want to invest in that direction.

Here are the main use cases that KCS token holders can currently benefit from:

Reductions in Transaction Fees

Although the KuCoin trading platform may be very attractive in terms of transaction fees, users typically seek ways to make them as low as possible. The use of a KCS token can then become instrumental in this regard.

Owners of the KuCoin token can benefit from a discount percentage of up to 30% of the total amount of fees, depending on the number of KCS tokens held.

Access to Special Offers

In addition to fee discounts, KCS token owners can receive exclusive access to several initial offers highlighted by the platform.

Daily Bonus

To energize its crypto ecosystem, KuCoin offers a daily bonus to all KCS owners (on their platform) on commission revenues. Any user with at least six tokens of this asset can benefit from it, regardless of whether the asset is exchanged or sold.

Gas Costs

The KCS token also allows you to pay transaction fees or gas fees within the KCC network chain.

Serves as a Conventional Token

As mentioned earlier, the KCS also serves as a conventional token that can be bought, sold or exchanged to invest in cryptocurrency.

Where to Buy the KuCoin (KCS) Token?

There are several platforms other than KuCoin where the KCS token can be bought. Among the most popular platforms to buy KCS tokens are the Binance platform (see review) and ProBit.

However, bear in mind that the value of KCS can vary depending on the platform you choose. This difference is a result of the supply and demand present on each of the platforms where the KCS is available. That being said, we recommend that you purchase these tokens directly on the KuCoin platform to enjoy all the benefits mentioned above. The differences in value are usually not that much and there are enough benefits to sway you to the KuCoin side, particularly the discounts on transaction fees offered on the platform.

Please note that we are not sentimental with our choice to focus on KuCoin for your KCS trades. You cannot deny that KuCoin, which is the owner of this same token, is also one of the most famous platforms in the world for exchanging all kinds of cryptocurrencies.

That being said, the process of buying the KCS token on KuCoin is pretty simple; just follow the following steps:

Kucoin

Step 1: Account Creation

This step involves the usual account opening procedure and should be done in no time. Verification is done via the KYC (know your customer) process, which is typical when buying Bitcoin or any other crypto (see course).

Step 2: Credit Your Account

There are two ways to fund your account on KuCoin: fiat and other crypto assets. The first option is more popular among beginners who find it more suitable to fund their accounts with fiat money. All newcomers can safely transfer money to their account with any of the 70 payment options available. In addition, the platform uses a P2P service for the purchase of USDT, which can be used to purchase KCS.

Finally, it is also possible to fund your account with already-owned crypto assets or crypto stored on a platform or portfolio.

Step 3: Switch to the Exchange

As mentioned earlier, you can exchange USDT for KCS. This can be done by going to the Spot Trading function of the KuCoin platform where you will find the KCS/USDT pair. Simply enter the amount of the USDT value you want to trade to obtain KCS. This will give you the price of KuCoin to USD or KuCoin price in USD.

Step 4: Store Your KCS

Once the transaction is completed, it only takes a few seconds for the KCS tokens to drop into your KuCoin account. You can either choose to leave them in this wallet or transfer them to an external wallet to store them.

KuCoin

  • Wide range of cryptos
  • Advanced Trading Options
  • Competitive fees

Is Buying KuCoin Token a Good Investment?

As you must have gathered from this Guide, the KuCoin token (KCS) has experienced significant development in recent years. The token has developed from a simple asset reserved to be used on the KuCoin platform and is gradually becoming a cryptocurrency worthy of the name. Historical trends have revealed that the token is also linked to the growth of the platform, which further shows its potential. In 2021, KCS crossed the $28 mark to hit its ATH, and since then, the publication of the token’s White Paper also proves that this asset has a bright future ahead of it.

The development of the KuCoin platform will be interesting to follow and everything suggests that there will be a corresponding growth of its native token.

However, it is important to bear in mind that the KCS token, like all other cryptocurrency assets, is subject to change and price volatility, and it is impossible to ascertain a KuCoin prediction profitability or otherwise of any investment. To further aid your decision-making, we have listed several positive and negative points that should allow you to probe this potential investment in crypto.

The Pros and Cons of the KuCoin Crypto

  • Linked to one of the best cryptocurrency exchange platforms
  • Available on several platforms at different prices
  • A development that seems to be part of a vast ecosystem thanks to KuCoin.
  • The KuCoin platform is not licensed in the United States
  • The benefits are only available on the KuCoin platform.

Our Final Opinion on the KCS Token

Although KCS is inherently tied to the KuCoin platform, our opinion is that the token holds significant future potential, which is related to the development of the crypto trading platform itself. However, the token’s availability on alternative platforms serves as an additional advantage that elevates its prospects beyond KuCoin. The increasing interest in the KuCoin token goes beyond its primary use on the KuCoin platform and underscores a broader perceived value by investors and crypto enthusiasts.

In the future, it could become one of the most popular tokens in the cryptocurrency world and thus be favored by users beyond the benefits it offers on KuCoin.

The KCS token has come a long way, and its creators are doing a great job balancing supply and demand through asset purchases. As a result, we hold a positive view, and the future looks promising for the KCS token.

KuCoin

  • Wide range of cryptos
  • Advanced Trading Options
  • Competitive fees

FAQ - Frequently Asked Questions about KuCoin (KCS) Crypto

Yes, it is quite possible to buy KCS tokens on other platforms like Binance, Crypto.com, Coinbase, ByBit, and ProBit.
Since the creation of the KCS token in 2017, it has reached an all-time high (ATH) value of $28.83, which was achieved in December of 2021.
You can find the coin’s value at the top of this page. 
We cannot say this for sure. However, various KuCoin forecasts indicate that the price of KuCoin will increase as the exchange also continues to develop.
This depends largely on personal personal preferences and risk tolerance. However, based on the KuCoin chart and KCS use cases, it is more likely to yield returns in the future. Ultimately, consider the information we provide in this guide and DYOR before making a decision.
Yes, Kucoin allows its users to stake their coins without having to lock them.
KuCoin exists solely as a cryptocurrency. It is not traded on the stock exchange and therefore does not have a stock price.
KuCoin is an exchange and not a blockchain. The token, KuCoin token is built on the Ethereum blockchain.