KuCoin (KCS)

Trading and Fee Discounts

KuCoin Token (KCS) is used to pay trading fees on KuCoin, offering discounts that can reduce the cost of transactions.

Bonuses and Rewards

Holding at least 6 KCS earns users daily bonuses, which come from a share of the trading fees collected by the exchange.

Staking and Participation

KCS holders can stake their tokens to earn passive income and participate in special staking events like BurningDrop for new coin launches.

Voting and Governance

Long-term holders receive GemVote tickets, allowing them to vote for projects to be listed on KuCoin.

Payment Use

KCS can be used for online and offline payments, including travel bookings, gaming, and retail purchases.

Supply Management

KuCoin regularly buys back and burns KCS tokens to reduce supply, which can help increase the token’s value over time.

Pros

• Wide variety of cryptocurrencies: KuCoin offers over 900 tokens and 1300+ trading pairs, more than many other exchanges.
• Competitive fees: Trading fees are low and can be further reduced by holding KuCoin’s native token (KCS).
• Multiple earning options: Users can earn interest through staking, lending, and flexible earning products.
• Automated trading: Built-in trading bots help automate strategies for convenience.
• User-friendly app: The mobile app allows easy management of crypto assets with push notifications.
• Fast trade and P2P marketplace: Quick crypto purchases with various payment methods and peer-to-peer trading without fees.
• Additional features: KuCoin offers futures trading, crypto-backed loans, and a Visa debit card (KuCard) for spending crypto.

Cons

• No major regulatory licenses: KuCoin lacks licenses in key crypto markets, which may concern some users.
• Limited availability: Not accessible in countries like the US, China, Singapore, Malaysia, Hong Kong, and Ontario, Canada.
• User interface: Some find the platform crowded and complex due to many options.
• Liquidity issues: Some lesser-known altcoins have lower trading volume, which can affect liquidity.
• Variable deposit/withdrawal times: Processing times depend on blockchain network congestion and transaction type.

Overall, KuCoin is known for its wide crypto selection, low fees, and earning features, but it may feel complex for beginners and is not available everywhere.

Founders of KuCoin

• Michael Gan (also known as Chun Gan or Michael): A tech enthusiast and coder who started programming early in life. He co-founded KuCoin and has been involved in its technical development and leadership.
• Eric Don (also known as Ke Tang or Eric): Co-founder alongside Michael Gan, involved in the creation and growth of KuCoin.
• Kent Li is also mentioned in some sources as a co-founder.

These founders started KuCoin in 2017 with the goal of creating a user-friendly cryptocurrency exchange.

Investors in KuCoin

KuCoin has raised about $180 million from several key investors. The main investors include Susquehanna International Group, IDG Capital, Circle Ventures, Jump Crypto, and Matrix Partners. These investors have supported KuCoin through various funding rounds, helping it grow into a major cryptocurrency exchange.

Halal Status of KuCoin

• General KuCoin Platform: No, KuCoin is generally not considered halal because it operates as a decentralized exchange that allows trading with elements like futures and leverage, which some scholars view as involving speculation and interest-like fees.
• KuCoin Token (KCS): The halal status of KuCoin’s native token (KCS) is debated and depends on individual scholarly interpretation; some analyses suggest it may not fully meet Shariah compliance.
• Halal Alternatives on KuCoin: KuCoin lists some Shariah-compliant tokens like Islamic Coin (ISLM), which is certified halal and supports ethical, transparent, and charitable financial activities.

In summary, KuCoin itself is generally not classified as halal, but it offers access to some halal tokens.