A Beginner’s Guide to Buying KuCoin Shares KCS

Kucoin, “The People’s Exchange” started strong in 2017 and hadn’t lost momentum since then. But even with the impressive performance, Kucoin does not settle. The company has an ambitious goal of becoming one of the top 10 hottest cryptocurrency exchange platforms in the world. Kucoin is confident that they will achieve this goal by June 2019. And of the ways they want to achieve this is through the Kucoin KCS coin.

Another goal of the Kucoin team is to release a decentralized cryptocurrency exchange system gas with Kucoin Shares (KCS) as its core fuel. With their current performance, Kucoin is set to achieve these goals within their expected timeline and it would be advantageous for traders to be a part of this before it happens. The best way to do this is to  buy Kucoin Shares.

One of the biggest advantages of the KCS coins is that it is not influenced by the value of cryptocurrencies traded within the platform. It is not a unique system but its implementation is. Kucoin’s handling of Kucoin Shares is also stable and secure, ensuring that it will grow as the cryptocurrency exchange platform grows. Kucoin Shares has a lot of potentials and it’s just getting started.

How Kucoin Shares (KCS) Works

Kucoin Shares (KCS) is specially designed for the KuCoin cryptocurrency exchange platform. KCS coins are standard ERC-20 tokens based on the Ethereum blockchain. It’s the basis for the Kucoin Shares Bonus system which accounts for 50 percent of the total trading fee earned by the cryptocurrency exchange platform on a daily basis. There are two main advantages to owning KCS coins:

  1. You can get dividends and earn passive income in the process.
  2. Diversification of your cryptocurrency portfolio.

Another advantage is the discount on trading fees. For every 1,000 Kucoin Shares you hold, you get a 1% trading fee discount. The more KCS coins you hold, the higher discounts you receive. You can also get a maximum of 30 percent discount on trading fees (hypothetically). But you need to have about half a million dollars’ worth of Kucoin Shares in order to enjoy the hypothetical 30 percent discount in trading fees. Nevertheless, KCS coins are a good investment. Not to mention that tokens aren’t just the only way to earn bonuses. Kucoin redistributes another 40 percent of the trading fees through their referral program.

Buying KCS coins may seem daunting especially with all the steps that need to be followed. But soon enough you’ll notice that the process is almost identical across different cryptocurrency cryptocurrency exchange platforms. Just get yourself familiar with key processes and the cryptocurrency exchange platform’s interface.

Buying Kucoin Shares (KCS)

As earlier stated, KCS can only be purchased within Kucoin exchange. KCS prices vary depending on what trading pair you use. You can purchase KCS using these cryptocurrencies:
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Change (CAG)
  • Dash (DASH)
  • Ethereum (ETH)
  • Modum (MOD)
  • NEO and GAS
  • Red Pulse (RPX)
  • Tethers (USDT)
So how do you go about exchanging these cryptocurrencies for KCS? There are a few steps and it often begins with the purchase of the cryptocurrencies listed above. For this, you can use cryptocurrency platforms that use fiat currency exchange like Coinbase, Gemini, Kraken, etc. For this guide, we’ll be using Coinbase but we won’t detail the exact purchase of coins from the said platform.
How Kucoin Shares (KCS) Works
Kucoin Shares (KCS) is specially designed for the Kucoin exchange platform. KCS tokens are standard ERC-20 tokens based on the Ethereum blockchain. It’s the basis for the Kucoin Shares Bonus system which accounts for 50 percent of the total trading fee earned by the exchange platform on a daily basis. There are two main advantages to owning KCS tokens:
  1. You can get dividends and earn passive income in the process.
  2. Diversification of your cryptocurrency portfolio.
Another advantage is the discount on trading fees. For every 1,000 Kucoin Shares you hold, you get a 1% trading fee discount. The more KCS tokens you hold, the higher discounts you receive. You can also get a maximum of 30 percent discount on trading fees (hypothetically). But you need to have about half a million dollars’ worth of Kucoin Shares in order to enjoy the hypothetical 30 percent discount in trading fees. Nevertheless, KCS tokens are a good investment. Not to mention that tokens aren’t just the only way to earn bonuses. Kucoin redistributes another 40 percent of the trading fees through their referral program.
Buying KCS tokens may seem daunting especially with all the steps that need to be followed. But soon enough you’ll notice that the process is almost identical across different cryptocurrency exchange platforms. Just get yourself familiar with key processes and the platform’s interface.
Buying Kucoin Shares (KCS)
cryptocurrency exchange platform
As earlier stated, KCS can only be purchased within Kucoin exchange. KCS prices vary depending on what trading pair you use. You can purchase KCS using these cryptocurrencies:
  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Change (CAG)
  4. Dash (DASH)
  5. Ethereum (ETH)
  6. Modum (MOD)
  7. NEO and GAS
  8. Red Pulse (RPX)
  9. Tethers (USDT)
So how do you go about exchanging these cryptocurrencies for KCS? There are a few steps and it often begins with the purchase of the cryptocurrencies listed above. For this, you can use cryptocurrency platforms that use fiat currency exchange like Coinbase, Gemini, Kraken, etc. For this guide, we’ll be using Coinbase but we won’t detail the exact purchase of coins from the said platform.
The most popular cryptocurrencies for purchasing KCS tokens is either Bitcoin (BTC) or Ethereum (ETH). You can purchase BTC or ETH coins using your bank account, credit/debit card, or wire transfer. After purchasing coins, you can then transfer it to Kucoin. Here’s how to do it (we’ll be using ETH for this example):
  1. After purchasing ETH coins in Coinbase head back to Kucoin to either sign up or sign in.
  2. Next, set-up a Google 2FA authentication before depositing ETH coins on your account. Click Google 2-Step” on the left-hand sidebar of the interface. Follow the instructions.
  3. After the authentication process, select Assets” and search for Ethereum (ETH). Select Deposit”.
  4. You will then be given a wallet address where you can deposit your ETH. Copy this address.
  5. Return to Coinbase and head to the Accounts” menu. Click the Send” button under Etherium.
  6. A dialog box prompt will appear. Paste the wallet address from Kucoin on the Recipient” box. Specify the amount you wish to send. Click Continue.” You may be asked to confirm your login.
  7. You may have to wait for up to an hour for the coins to appear in your Kucoin wallet. A notification email will be sent once the coins are loaded in your wallet. You can then exchange your ETH coins for KCS tokens.
  8. Head to Kucoin’s KCS/ETH exchange marketplace. You can exchange coins on the Buy/Sell” window on the lower right corner. But before you can go further, you need to once again generate 2-factor authentication (Kucoin requires this for deposits, trading, and withdrawals) and enable it.
  9. You can first check the current price and the amount of KCS tokens you can purchase with your Ethereum. On the Buy KCS” option there are Price” and Amount” boxes. Click Best Price” on the Price” box to append the lowest possible KCS purchase price. Click Max” on the Amount” box to append the maximum amount of KCS you can purchase at the lowest price.
  10. Use the provided slider to control the percentage of Ethereum you want to spend or manually input the amount of KCS you want to purchase. Once you’re done, click Buy.”
  11. Your newly purchased KCS tokens would immediately appear on the Available KCS” under the Sell KCS” option.
You can also get more bang for your buck” if you use GDAX instead of Coinbase in sending coins to Kucoin. The main advantage of using GDAX is that there are no transfer fees. GDAX is also a part of the Coinbase platform so you won’t need to create separate accounts. Here is how it is done:
  1. Use your Coinbase account to log in to GDAX.
  2. Verify your identity (you can perform this step in Coinbase beforehand) with a scan of your valid ID. You may need to wait for a couple of hours before you are verified.
  3. Go to GDAX’s Order Form and click Deposit.”
  4. On the Deposit Funds” menu select the Coinbase Account” tab. Under Source” enter your Coinbase ETH wallet address.
  5. Enter the amount of ETH and then click the Deposit Funds” button.
  6. Once the coins are loaded head back to the Order Form and select Withdraw” this time.
  7. On the Withdraw Funds” menu select the ETH Adress” tab and enter your Kucoin ETH wallet address under Destination.”
  8. Enter the 2-Factor Code and click Withdraw Funds.”
You can then go on and purchase KCS tokens once the ETH coins are loaded on your Kucoin ETH wallet. If you are worried about the security of your Kucoin Shares, you can store them on a personal wallet outside of Kucoin exchange.
Kucoin ETH wallet
Personal Wallet Option
One of the easiest options for storing Kucoin Shares is through MyEtherWallet (MEW). This wallet mainly stores coins and tokens that use (or are based on) the Ethereum blockchain technology. Follow these steps in order to open a new wallet and store KCS tokens:
  1. Go to myetherwallet.com and create an account. Make sure that you won’t forget your password. This can cause you to lose your coins.
  2. Create a new wallet in the New Wallet” tab.
  3. On the next prompt, click Download Keystore File.” Head the warnings especially the part about creating a backup.
  4. After you click I understand. Continue,” you will then have access to your wallet’s private key.
  5. You can print a Paper Wallet” so you’ll have access to necessary information about your digital wallet. You can also print your private key as a last line of defense in case your wallet’s data get compromised.
  6. Click Save your Address.”
  7. Unlock your wallet by uploading your Keystore File, entering your password or using a hardware wallet.
  8. Copy the string of characters under Your Address”. This will be your wallet’s address. This unique address is used as an identifier where KCS tokens can be sent.
  9. Next, purchase KCS tokens by exchanging it with ETH coins. Follow the steps in purchasing KCS tokens detailed earlier in the guide.
  10. You can then withdraw your newly-purchased KCS tokens to your personal wallet. Go to your Kucoin account and select Assets”. Select your KCS tokens and select Withdraw.” Enter your MyEtherWallet address and then the number of tokens you want to withdraw. Enter the 2-step authentication code and then click Confirm.” Withdrawals only take a few seconds to a couple of minutes. You will receive a confirmation email once the withdrawal is confirmed.
Things to remember about your digital wallet and private key:
  1. This may sound like a no-brainer but it’s always wise not to share your private key with anyone.
  2. Store the key in a safe location. It is advisable to remove all references or digital trail of your private key from any of your computers and devices. This is to protect your private key and in turn, digital wallet from any malicious attacks aimed at your computer.
  3. Use a hardware wallet. A hardware wallet is basically a physical device that acts as an encrypted repository for your digital wallet’s private key. You just need to plug in the device and you’re good to go. You no longer need to manually enter your private key. Ledger and Trezor are just two of the most popular companies that manufacture hardware wallets that support KCS tokens.
  4. Only send your KCS tokens to wallets that support them. You will lose your KCS tokens forever if you send them to unsupported wallets.
Also, take note that transferring KCS tokens cost gas” as it is based on the Ethereum blockchain technology. You need to have ETH coins in your wallet in order to transfer KCS tokens to another address, in this case, a personal wallet.
The entire process takes little time and soon enough you’re a KCS token hodler. Just make sure to practice precaution and avoid phishing by making sure that you are transacting on a secure and official page of any cryptocurrency exchange platforms and any cryptocurrency services you may need. At the end of the day, your security is in your own hands.

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