[2 min read] The first ICO on the NEO platform has had a successful launch hitting the hard cap after the first hour of the token sale. On 28th of October the Red Pulse token is hitting the exchange KuCoin which is a pretty new bird on the blockchain. Chinees exchanges are still closed, and it seems KuCoin is preparing for the wave we all feel is coming - China regulating exchanges.
While browsing the website I realized pretty quickly this exchange is going to be as big or even bigger than Binance. Here's why:
1. Transaction fees:
compared to Coinbase (1%) or Bittrex (0.25%) KuCoin (0.1%) has lower transaction costs which save you around 150% on fees. Which can get even cheaper using their KuCoin. It's not all, from the 0.1%, only 10% will go to the service platform fees, the rest for community and marketing. (50% coin holders and 40% bonus)
2. Transfer fees:
As of writing this post, the transfer fees are very lucrative for NEO investors because it's totally free. (also for RPX and GAS)
3. They have their own coin like Binance only:
The value of the coin will gain traction when more users will use the platform, as of now the daily volume is $2,360,616 which is about 1% of the trading volume of Bittrex. 50% of all transaction costs will go to the token holders. Holding tokens actually gives you other free coins every day!
4. 24/7 Customer service:
Always offering help through the websites, emails, hotlines and Wechat. Customer’s need will be responded and resolved within 10 minutes.
5. China's ban on exchanges:
Just a matter of time before the regulate exchanges. KuCoin is operating on the basis of $ 2 million register capital; legally supported by senior counsel partner; completed with risk control, compliance and anti-money laundry system. Which is perfect for the Chinees market.
6. Most user friendly platform out there:
As a Interaction Designer I have a hawk eye for website with bad/ good interfaces. The more I look into KuCoin and browse the website the more it get hyped about it. It's simple, short tekst, efficient, productive (quick) and color balance that pleases the eye. KuCoin
7. Team
It's a great A+ list team. In addition, the CEO is a former technical expert of Ant Financial (Alibaba Group).
8. Incentives and bonuses
This. Is. Amazing. And the beauty of it is, it's true, it's sustainable, fair and cheap. This is no Bitconnect or shady exchange. This is the future of trading. (probably before decentralized exchanges which will be completely free).
Source: https://assets.kucoin.com/kucoin_whitepaper_en.pdf
Amazing times, every few months there is a better, cheaper and friendlier exchange out there. Makes me wonder how decentralized exchange will be. Good luck! KuCoin
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Thanks You...thanks for this information is being helpful...
You welcome buddy! thanks for the comment :)
Very impressed by this exchange so far. Easy user interface good reward system. Getting great tokens like RPX added
I know right! A few issues during the launch of RPX but they fixed it pretty quickly which is even better. Showing they can handle such big volumes and fixing problems at crucial moments is a green flag. Thanks for the comment! :)
@blacklist-a @adm the source of the whitepaper is added. Remove the flag
I've been trying to contact KuCoin for days but no reply yet. Not an automated "We received your message, please be patient!" email.
Disappointing.