Buy KuCoin Shares or KCS Crypto Currency by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about what is KuCoin Shares or KCS CryptoCurrency.
What Is KuCoin Shares or KCS Crypto Currency?
KCS is the fuel behind the KuCoin, a Hong Kong-based exchange which officially launched in September 2017 and has grown to be in the top 20 cryptocurrency exchange by trading volume.
The KCS is an ERC20 token and was initially launched via a private sale and an ICO as a means of funding the development and growth of KuCoin exchange. Like Binance’s token (BNB), KCS can be used to cover fees, and doing so rewards users with significant discounts. For example, in the first year of using it, clients who hold KCS get a 50% discount on transaction and withdrawal fees. With each next year the discount is halved, until after the fifth year, there is no discount at all. Moreover, it gives extra features on the exchange to those who use it.
Another great feature of KCS is its buyback and burn program. Every quarter KuCoin will use 10% of its profits to purchase and burn KuCoin Shares.
How to buy the KuCoin Shares (KCS)?
You can only get KuCoin Shares (KCS) on the KuCoin platform, which operates on a crypto-to-crypto model, so you cannot buy KCS or another coin with any fiat currency. You will have to get some Ethereum or Bitcoin first. It is not as complicated as it may seem, just follow these steps:
1. Open an account with Coinbase
Coinbase is a major and reliable exchange that offers its services in over 30 countries across the world. Besides, it is easy to use and registration and verification take just a couple of minutes.
2. Deposit traditional money
Coinbase`s main advantage is that you can buy Ether, Bitcoin or Litecoin directly and almost instantly with a credit or debit card (for a fee of 4%). There are other funding options like bank wire and PayPal as well.
3. Buy BTC or ETH
As KCS is an ERC20 token, maybe it is better for you to buy some Ether. Coinbase is an entry-level service with an intuitive interface and transparent fee structure.
4. Register at KuCoin and transfer your ETH or BTC there
You need to do this, as this exchange is the only place where the KuCoin Shares is traded. When depositing for the first time, you’ll be required to secure your account by setting up the Google Authenticator.
5. Exchange your ETH or BTC for KuCoin Shares.
It is worth noting that trading and transfer fees at KuCoin exchange are low-cost and trading volumes on most assets are good.
Once you get your KuCoin Shares, we suggest you store them in your own wallet, rather than on the exchange, as it is safer. Being an Ethereum-based coin, the KCS can be stored in MyEther Wallet. You can also use Ledger, Trezor, Meta Mask or Ethereum Mist Dapp Wallets.
Yet another option to trade in cryptocurrencies is to do that with a forex broker that offers CFDs on Bitcoin and other altcoins. This way, you will avoid all that wallet and private keys hassle. Besides, trading in CFDs is easier as you only have to decide whether the price of a given coin will move up or down. In addition, many of these brokers are properly licensed, unlike the majority of crypto exchanges. Unfortunately, there aren’t any brokerages that support KuCoin Shares yet.
How to Buy KuCoin Shares or KCS Crypto Currency Conclusion
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