KuCoin Delists BTC-NEO pairs, releases a letter to the public
Kucoin has just recently released a statement about delisting NEO, BTC and BCH pairs from the platform. The objective was to continue process improvement in their coins and systems. USDT and KCS pairs are also impacted.
Below is the complete leters from Kucoin:
“Dear KuCoin Users,
We are excited to announce our new streamlined exchange. With our rapid growth in the first quarter we added in many new markets to provide a diverse platform for users to trade on. Now as we head into the 2nd quarter we are making many different changes to the platform based on user feedback. Several of the markets will be streamlined. KCS, USDT, and NEO will eliminate several pairs each, and BCH pairs will be removed.
Detailed changes as follows:
BCH：All trading pairs FOTA/BCH, KCS/BCH, DENT/BCH, ACT/BCH, UTK/BCH, DAT/BCH, and XAS/BCH
KCS：DASH/KCS, CAG/KCS, MOD/KCS
USDT：DBC/USDT, TEL/USDT, FOTA/USDT, OCN/USDT, TNC/USDT, ETC/USDT
NEO：MOD/NEO, QTUM/NEO, ACAT/NEO, FOTA/NEO, BCH/NEO, DENT/NEO”
It was also announced that investors and users are given 30 minutes before it commenced. Since 26 March 2018 at at 15:30 (UTC+8), Kucoin was no longer accepting orders of those pairs. The company also assured that users will not lose any coins.
KuCoin is not the sole popular cryptocurrency trade cutting ties with Bitcoin Cash exchanging pairs.
In a news released on the trading platform’s official website the other day, OKEX explained its purpose to shut its Bitcoin Cash (BCH) Market in token trading today.
Said the company:
“We will close all the trading pairs in BCH market of Token Trading at 18:00 Mar 30, 2018 (Hong Kong time, UTC+8) due to inadequate liquidity.”
The latter also recommend its investors to cancel their pending orders as quickly as possible.
Based on BitMEX Study, 6.1 million SegWit dealings have happened since the start of the compettion: Bitcoin Cash – 20.1% more than BCH’s count of dealings. On the other hand, Bitcoin Cash started ahead of SegWit. When the length of time is aligned, SegWit actually incorporates a 31.5% advantage over Bitcoin Cash.
Hong Kong based exchange, KuCoin commenced in September of 2017. KuCoin Shares (KCS) tend to be tokens released by KuCoin similar to Binance’s BNB. These types of exchange-issued tokens give some utility on the exchange. In the case of KCS, they supply a share of the service fees implemented by the exchange much like an investment would pay out dividends to its stakeholders. In essence, KCS really are a stock within the KuCoin trade and the returns are a percentage of the fees the trade takes.
Kucoin preserve 10% of the exchange service fee. Then it provides another 40% to its investors who productively referred others to exchange or trade on Kucoin. They called it Invitation Bonus. Then the rest – 50% is for the users who have Kucoin.
In a short span of time, Kucoin has proved it can compete against other coins and showed so much change already. Experts are saying that it could be a solid competitor in cryptocurrency.