Centralized Exchange (CEX), Exchange-based Tokens
KuCoin Token (KCS) is a cryptocurrency token issued by the KuCoin exchange.
It is used to pay for fees on the KuCoin exchange, such as trading fees, withdrawal fees, and listing fees. KCS holders also receive a share of the profits generated by the exchange. This means that when users trade on KuCoin, they are rewarded with a portion of the trading fees in KCS tokens.
The KuCoin Token was launched in 2017 and has since become one of the most popular tokens in the crypto space. It has a total supply of 200 million tokens and is currently ranked #50 on CoinMarketCap with a market cap of over $1 billion. The token is used to incentivize users to trade on KuCoin and to reward them for their loyalty.
By holding KCS tokens, users can receive discounts on trading fees, access exclusive promotions, and earn rewards from the platform’s referral program. KuCoin also offers its own staking program which allows users to earn rewards by holding KCS tokens in their wallets for a certain period of time. The rewards are distributed in KCS tokens and can be used to pay for trading fees or withdrawn as cash.
This makes it an attractive option for investors who want to earn passive income from their holdings without having to actively trade on the platform.