KuCoin $KCS Wiki: Coin History, Techstack and Crypto News

This is the official HackerNoon wiki for KuCoin. As part of our coin price pages, this live wiki shows on the KuCoin crypto price page. If you would like to suggest any changes to our official KuCoin Wiki, please submit them in the comment field below, a real human editor will read and review your suggestions for accuracy and publication.

Kucoin is a cryptocurrency exchange that deals in digital assets and cryptocurrencies. It is among the most widely used cryptocurrency exchanges in the world with over 8 million active users worldwide in over 200 countries and regions. It is commonly known as people exchange with local communities in places like Japan, Italy, Spain, Turkey, Vietnam, India, Russia, etc. One in four crypto holders and users use KuCoin.

History of KuCoin

The KuCoin exchange was started by Michael Gan and Eric Don. The founders began research on blockchain technology in 2011 and built the technical architecture of the KuCoin platform in 2013.

The KuCoin exchange was opened for trading in September 2017. The initial coin offering was completed in September 2017 with approximately $27.5 million in Bitcoin. KuCoin planned to use this amount to expand its team. They were able to secure a spot as the 18th largest exchange in early 2018. They completed their Series A funding round in November 2018 with around $20 million in funding from Matrix Partners, NEO Global Capital and IDG capital.

KuCoin was able to upgrade to KuCoin 2.0 and announced the upgrade in February 2019 bringing changes to KuCoin as a Advanced API and more. The platform has partnered with Simplex, a payment processor, to allow people to buy different types of crypto using their credit cards. Users can buy in Bitcoin, EthereumLitecoin, Ripple, and more for euros or dollars.

The greatest claims to fame

Its availability on iOS and Android widens its market to people who would not like to spend too much time on 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 activity on their KuCoin. Security is also increased as it is very easy to know 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 worried about putting their money into crypto because they know they can easily change their money into traditional currency if they don’t feel comfortable with the trends they see in the crypto space. . KuCoin has enabled users to easily 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 reduced trading fees and rights to a share of the trading commissions that KuCoin receives. KuCoin has negotiated more than $71 billion in transactions, so shareholders have earned a good amount of money from their investment in KuCoin; unlike investors in several other cryptocurrencies.

The biggest criticism

KuCoin is not regulated by licensing bodies. This means that KuCoin is an unregulated exchange whose value is likely to rise and fall without any oversight. There is no guarantee for any currency that exists in or passes through KuCoin, which is good for anyone who wants to buy and sell crypto anonymously, but bad for anyone who wants a regulatory guarantee for their investment in KuCoin.

There is no way for KuCoin users to get their money back if ever the people running the platform take the money they have on the platform and walk away with it. There is no oversight or accountability to any country or regulatory committee and they have no registration process. The fact that anyone can create an account on the platform and not have to identify themselves makes it extremely difficult to track any amount of money to an individual. There is nothing stopping or stopping the folks at KuCoin from shutting down the business and walking away with all the money they have on the platform.

Crew

Michael Gan is one of the founders of KuCoin. He was the co-founder and main developer of Missyi Inc, an image editing and sharing application. He then joined Ant Financial from Alibaba as a technical expert. He was interested in block chain while he was in college, which led him to found KuCoin.

Johnny Lyu is one of the co-founders of KuCoin. He co-founded Missyi Inc with Michael Gan before co-founding KuCoin with him. He is the global CEO of the platform and is in charge of the daily operations of KuCoin.

In conclusion

KuCoin is a volatile and unregulated exchange. It is capable of being a good investment but no one can be absolutely sure about the future direction of the platform. The fact that it is unregulated is one of the best things about it as the origin point of cryptocurrency was decentralization. However, it is also the riskiest part of cryptocurrency.

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This is the official HackerNoon wiki for KuCoin. As part of our coin price pages, this live wiki shows on the KuCoin crypto price page. If you would like to suggest any changes to our official KuCoin Wiki, please submit them in the comment field below, a real human editor will read and review your suggestions for accuracy and publication.

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