As many cryptocurrencies look to be in a state of consolidation, investors are looking to the KuCoin token as it continues to perform bullish this month.
KuCoin has shown incredible growth in the last couple of days, outperforming leading coins Bitcoin (BTC) and Ethereum (ETH) by more than 30%. This comes when Binance, KuCoin’s main competitor, has been banned from operating within the UK by the Financial Conduct Authority (FCA).
So, where to buy KuCoin? Here, we will take a closer look at this profit-sharing token.
How and where to buy KuCoin today
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What is KuCoin (KCS)?
The KuCoin token is native to the popular global exchange of the same name, allowing traders to share in the platform’s profits. Initially launched as an ERC-20 token, KCS could be transferred into any wallet compatible with Ethereum.
The KuCoin exchange has plans to further empower investors by diversifying the benefits accessible to holders of the token. The versatile cryptocurrency fuels all decentralised services and products of the KuCoin exchange and will do so for all future products and developments.
KuCoin is a profit-sharing token at its core, allowing traders a unique incentive through the KCS Bonus scheme. Holders of more than 6 KCS can earn a daily dividend as a passive income derived from half of the revenue generated by trading fees.
KCS is also a utility token, where users can pay trading fees with discounts of up to 80%. Holders can be granted access to a VIP account of the KuCoin exchange and enjoy the benefits associated, as well as pay for goods and services such as hotel stays, shopping and more.
KuCoin (KCS) price prediction
The value of KCS has doubled in the last seven days, rising from $7 to over $14. With the parent exchange rated as one of the best in the world, the future of this empowering and versatile token looks to be very bright indeed.
Some experts speculate that the recent news regarding Binance being banned from operating within the UK has also had a very positive impact on KuCoin (KCS) price, and the price growth could undoubtedly continue in the coming weeks.
Should I buy KuCoin today?
June was quite a steady month for many cryptocurrencies, showing some fluctuation and signs of consolidation. However, KuCoin has had a fantastic start to July, and planned developments for the token and regulatory news surrounding Binance could have the potential to allow the momentum of KCS to continue over the next couple of weeks.
Despite Binance announcing that services to UK residents would not be affected by the recent ruling of the FCA, many users have reported that Faster Payments have been unavailable to them and other problems concerning deposits and withdrawals.
Assuming these reports continue to be posted by the public, it is likely that many investors will be looking for an alternative platform to operate on, which could boost the value of KCS significantly.
Whether or not you invest today is a choice that only you can make, but one thing is for sure – KuCoin is looking to be one of the big winners this month.