On October 8th 2021, our community had a chance to welcome Kucoin - a secure cryptocurrency exchange that makes it easier to buy, sell, and store cryptocurrencies like BTC, ETH, KCS, etc.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
At this AMA, the Kucoin directly greeted the community and provided detailed information as well as some key products and future plans.
Time: 08:00 PM (UTC + 7) on Friday, Oct 8th, 2021
Airdrop 200 USDT for the best questions in the AMA.
Below are some main points of this AMA:
Part 1: Project overview questions
Question 1: First, please make a brief introduction of Kucoin exchange and some great achievements it has made so far.
Sure. KuCoin is a global cryptocurrency exchange launched in September 2017 to provide a wide variety of crypto services to global users. We currently provide Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending products to 8 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners.
KuCoin has grown into a top 5 crypto exchange globally, and this year, we are named as one of the Best Crypto Exchanges for 2021 by Forbes Advisor.
Our cumulative transaction volume has exceeded $500 billion this year, and the highest daily transaction volume has outstripped $10 billion. As one of the biggest altcoin exchanges, we have listed over 400 promising tokens with 900+ trading pairs, and hope you can find the next crypto gem on KuCoin.
Question 2: Could you please some outstanding features that make Kucoin exchange competitive with other top CEXs/ DEXs?
When people talk about KuCoin, we’d like them to remember three key words.
The first one is Altcoin. Known as one of the biggest altcoin exchanges for a rich portfolio of crypto gems, the tradable assets on KuCoin cover the most trending DeFi, NFT, Metaverse, Solana ecosystem, Polkadot ecosystem, Web3.0, and many other trending sectors.
So far, we have listed over 400 promising tokens with 900+ trading pairs through various methods such as direct listing, community voting, Spotlight, KuCoin Win, BurningDrop, etc. Spotlight has launched 14 token sales, and the average ROI has reached 994%; BurningDrop has launched 20 projects with an average ROI of 731%.
The second keyword about KuCoin is Social. We are on our way to make KuCoin the biggest social trading platform in the crypto world. In Q4 this year, lots of new SOCIAL features will be launched, allowing users to better understand and trade crypto, learn from others' trading strategies, share their experiences, and find global crypto investors who share the same interest. This will make KuCoin a better place to start crypto journey not only for those professionals, but all classes of investors.
The third keyword is “People’s Exchange”. We have never forgotten our original intention in the past four years to provide the best crypto services for the masses as a trusted exchange. In order to improve localized services, we’ve been working hard to improve the overall stability and security of the platform.
Question 3: Is there any ambassador program of Kucoin so users can assist in to enable further adoption?
Yes, we named it KuCoin Musketeers Program. All KuCoin users can join KuCoin Musketeers, who are passionate volunteers within our community that support the KuCoin platform in various ways, including but not limited to promoting the KuCoin ecosystem, providing feedback to improve KuCoin offerings, and assisting KuCoin's user base with questions and concerns.
And KuCoin Musketeer will get discounts on transaction fees, referral rebates, KuCoin Musketeer exclusive limited edition gifts, etc.
In KuCoin we focus on creating the best possible customer experience and Musketeers play a major role in bridging KuCoin with all of its users around the globe.
Part 2. Pre-collected questions from Twitter
Question 1: Kucoin has been very diverse in its services and products, so do you have any strategies to attract more Vietnamese users to use Kucoin? Do you have any advice for newbies are just starting to use the exchange? What are some strategies to retain your users? @chungnhancl
As being Top exchange in globalization deployment, KuCoin has built 19 global communities in Thailand, Spain, and India, etc., to improve user experience by providing localized crypto services. This is one of our key features that has attracted global users to our platform.
In addition, we are dedicated to providing diversified financial tools to meet investor demands. An easy-to-use crypto product can open access for more new users to participate in the crypto world with lower threshold.
For instance, if you are a crypto newbie, you can start your crypto journey by using KuCoin Crypto Lending and Trading bot.
KuCoin Crypto Lending offers a peer-to-peer lending market, where you can borrow crypto assets to amplify their profit and lend assets to earn stable passive income. At present, the KuCoin Crypto Lending platform has supported more than 50 tokens. Compared with other features like Margin trading and Futures trading, Crypto Lending is more suitable for users who prefer low-risk investment and pursue stable returns.
In other words, Lending is a perfect match for holders who can keep their coins while earning extra profit. Furthermore, it is more friendly to new users in earning passive income with easy steps. For instance, currently, the traders are more prone to long rather than short, as a result, the APR for USDT lending has reached approx 25%.
KuCoin Trading Bot is also suitable for new crypto users. It is a free trading tool with 4 strategies that can save time and energy for users while improving the profit. It is equivalent to configuring a 24/7, all-round bot butler for your trading strategy. KuCoin now supports 4 convenient and intelligent trading strategies: Spot Grid, DCA, Futures Grid and Smart Rebalance suitable for various market conditions. You can also check the ROI ranking for running a spot grid trading bot as below:
Question 2: Recently Kucoin has completed 4 years in the market and grown really rapidly to become one of the top 5 in the market. So how do you see this achievement? What plans will kucoin implement in the future to be the best exchange in the market and what your roadmap? @Aravind75154890
We cannot achieve these without the support of our users and partners. Known as “People’s Exchange”, KuCoin visions on bringing crypto to the masses and facilitating the free flow of digital value around the world with blockchain technology.
As our CEO mentioned in the open letter on the 4th anniversary, our next step is to enable a simpler and more interactive trading experience by launching a social trading platform, where everyone, especially new users can learn from others’ trading strategies, share individual experience, and enjoy more fun beyond crypto trading. You can follow our official website for more announcements.
Question 3: By holding $KCS in KUCOIN, it will also entitle clients to discounts on their trading fees. On what basis will these discounts be calculated? Will the discounts be implemented through the amount of $KCS that the customer has? At how many levels will the balances be updated? @KiyokoSumaru
Enjoying a discount of trading fees by holding KCS is one of the privileges of KuCoin VIP. To be a KuCoin VIP can enjoy more exclusive privileges such as priority subscription for high-quality projects, internal product testing rights, holiday privileges, one-on-one service, etc. Higher level VIPs will enjoy lower trading fee and more exclusive privileges, and the VIP level is calculated based on their Min. KCS holdings or trading volume during the last 30 days.
As the native token of KuCoin, Holding KCS can enjoy more benefits. Holding at least 6 KCS can get a daily bonus, which comes from 50% of KuCoin's daily trading fee revenue. KCS Bonus is also regarded as one of the best ways to make passive income. If you are a crypto newbie, it will be suitable for you.
In addition, Enabling the ‘Pay Trading Fees with KCS’ button can enjoya 20%-off in trading fee. And you can participate in token sales on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform by holding KCS.
Question 4: Currently there're many hack or scam cases in the crypto world. Could you please tell me what security mechanisms does Kucoin apply to keep the privacy and security of your users' assets? How do you manage if there is an attack on your platform to protect your users' benefits? @MasanariToyko
The crypto industry has encountered security challenges and malicious attacks at various levels each day, including both crypto exchanges and blockchain projects. In order to protect our user assets, KuCoin has deployed a powerful FireEye Security Platform and upgraded the wallet security at the financial level.
We’ve also obtained several certifications of information security. In addition, we have established a multi-dimensional and professional risk control system, to immediately block phishing attacks and suspicious accounts to ensure the security of user assets.
Question 5: Now a days NFTs are all over the market. But as a big exchange I have not seen or heard about NFTs in #Kucoin. Is there any specific reason ? Or is #Kucoin planning for a verity of NFTs in the future? @Akash57470143
In fact, we have already been following and supporting the development of the NFT market. In order to empower the NFT projects and help users invest in NFT more conveniently, we launched the NFT trading board on June 24, 2021. KuCoin NFT Market now supports 34 promising projects including MANA, ENJ, and etc.
At the 4th anniversary of KuCoin, we minted 1,000 KuCoin 4th Anniversary Exclusive NFTs as gifts for KuCoin Users. In addition, we also launched Guardian Star, a brand new NFT lucky draw game on KuCoin Win. It creates an easy access for KuCoin's crypto enthusiasts to unbox surprising and valuable NFT collectibles with a low entry threshold.
Guardian Star will also introduce more NFT games in the next step, allowing users to enjoy the fun and value of NFTs. In the future, we plan to launch the NFT exchange platform to offer NFT exchanging services with lower transaction fees.
PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP
Question 1: How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Russia, Vietnam, Indonesia, Thailand, and Korea so they can learn easily and better understand your project? Or are you planning something that hasn't been developed in other regions yet?
We will recruit local staff, in fact, we already have localized communities in these countries and regions.
Question 2: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
All cryptocurrency users are partners of KuCoin. We want to give back to our partners instead of asking for anything.
Question 3: Can u show us the utility of your token and the usefulness of your token project in your Ecosystem
KCS is the platform currency of KuCoin. Currently holding KCS can get rewards and VIP rights every day. Just like the introduction of KCS. In addition, KCS will be applied in the future KuCoin ecosystem, including KuCoin WIN, some physical store applications, etc.
Question 4: Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
KuCoin is suitable for users at different stages of the world. Due to the complete range of KuCoin products, we also plan to further develop higher rights for new and old users.
Question 5: What makes you feel confident about the survival & sustainable success of Your project in the near future?
KuCoin has more than 8 million KuCoin users worldwide. It is the perfect product of KuCoin. In the future, KuCoin will actively pay attention to exchanges in various countries and regions around the world. In the future, KuCoin will better serve users.