Right now CEX tokens are a hot buy and have shown tremendous gains that will likely continue. Will DeFi technology eventually catch up to CEXs, thereby killing their attractive convenience? And if so, can we figure out who will do it first?
>I own One, Dot, Sand, Rune, FTM, KCS, HBAR, UOS, UFO and a bit of VRA, AIOZ, CRO. During this bear market, I have been DCAing into Azero, Matic , Metis, Near, KDA and LDO. Bro owns everything
Ouch my friend. I use a bit to Scalp trade and started with CB Pro but the 1% Maker/Taker fee made scalping very difficult. And that was trading on their pro platform. If your reading strait on CB, then you are paying the 1% Fee PLUS I think a 1.99% CB Fee. Now they have ditched CB Pro and added Advanced but still the 1% there and still the 1.99% if you don’t use advanced for the trade. Then their $30 subscription for No fees is only good if you trade over $3000 worth and I think the “no fee” has a cap as well. I went to KuCoin for 0.1% maker/taker fees which get reduced to 0.08 if you use KCS to pay fees. Binance.US basically the same. I chose KuCoin cuz Binance minimum trade was $10 vs KuCoins $3. I still use CB in order to get FIAT into the system but then send it all to KuCoin after I convert it to crypto to trade. Would gladly send you a referral link to KC or B.us
I dropped Binance like a hot potato a few years back after the shenanigans they pulled with a few coins I bought. I tried to move them Binance and was unable to do so for a month. This was when they were not allowing Vet, Zil and One to be taken off their platform. It cost me a fair amount of money and since then I have only used Coinbase or Kucoin as my launch point. I have never had an issue with either place and they have always done what I wanted. That being said, I only use the coinbase debit card and have maybe 50 bucks on kucoin in KCS for transactions. Everything else is held by me
That is an interesting theory. There’s been a ton of demand for coins like BNB, KCS, FTT etc. in the past and now that demand will need to go somewhere else BNB possibly being an exception due to having its own chain. Heck, I think TWT’s leading rise is due to its association with BNB and Binance customers choosing TW to move away from CEX to interact with BNB.
It fluctuates depending on the market, last year during the bull it was really nice probably around 10% on average maybe a bit higher. Now it’s around 2%. It’s bc it’s based on the volume and trading fees generated on the platform, there’s a calculator you can use to estimate it. KuCoin pays out 50% of the fees the platform generates in the form of KCS to KCS holders if you are holding atleast 6 KCS tokens. Also Holding KCS tokens gives you discounted trading fees when using KuCoin, I believe in KuCoin so it’s been a great hold for me.
Exactly!! And ppl still can’t understand the difference between KCS and FTT. KCS you can literally calculate the APY based on trading fees and volume and it is never some wild % yield. Also KuCoin showing the tokens exist and are held with them plus they’re fixed supply and deflationary. So annoying these casuals comparing EVERYTHING to FTX now… is it so hard to think just a little bit?
No but again expand on that and you’ll answer your own concern. What parallel is being drawn? If so it’s incorrect.. bc FTX was totally different and I explained the reason for the KCS which is actually a positive thing to see, it means KuCoin is liquid bc they are literally showing they have the liquidity hahaha. Then having user funds shows they aren’t gambling with user funds and they aren’t over leveraged so they can’t be subject to a bank run. I mean everyone can all sell KCS but they would still have the asset it would just not be worth the same amount.. so I really don’t see your point and yeah they’re drawing a parallel that doesn’t mean it’s correct because clearly they are similar to you a little confused on the logistics and rather than try and rationalize it and understand the differences you panic. This is the largest issue with the crypto space atm.
How else would they get KCS to go up to 20$ every bull run… The amazing thing is there’s only like 145mil tokens so it shows that if they weren’t holding it, that token would be in the absolute shitter… i bought a ton of it when it was under a dollar, but sold at $1.50. Just too much of a risk for me. I wasn’t going to hold to $20. Even if I suspected it might go there.
Risk what? That they hold their customers assets? Let’s make this space an industry where we educate ourselves before making decisions or coming to conclusions. Many KuCoin users hold KCS on exchange to earn the bonus this is why you see that. And good to see they actually have the funds.
This is why ppl like you get rekt and lose everything in this space. You lack critical thinking skills and attention span that will allow you to know the details of what you’re talking about before making decisions. KCS is mostly held on exchange by retail holders bc you get paid a bonus from the trading fees if you hold on the exchange, so it makes sense and is perfectly fine that they have this much in KCS. But you don’t go that far into it right you just see a title on Reddit and make a financial decision right? Bc it’s only your money right? Why take the time to think? This space is polluted with idiots.
Most likely is I hold substantial KCS and keep is on the exhange because you make passive income from holding it based off the platforms trading fees. Pretty much everyone on KuCoin is going to be holding KCS on the exchange and with good reason.. great way to earn passive income and there is plenty of calculations to see how the bonus is deciphered from fees generated. Nothing sketchy about it.
tldr; KuCoin holds nearly one-fifth of its reserves in KCS, its own exchange token. FTX’s collapse shows that it is a bad idea for exchanges to sit on vast stashes of their tokens. The collapse also shows the danger of a rival exchange holding a considerable sum of another exchange’ *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
>“KuCoin holds nearly one-fifth of its reserves in KCS, its own exchange token. Should this percentage start growing rapidly, it may become a cause for concern, just like how the illiquid FTT formed the bulk of FTX’s balance sheet.” Ohhhh come on. Don't exchanges learn that you can't count your coins as assets? I mean, you take customer's funds and convert it into your coin (which is basically money printer goesss brrrrr version of crypto). You are basically creating problems for yourself. If tomorrow, your coin goes into oblivion and price decreases by more than certain amount, how are you going to pay back the customers? THIS IS BULLSHIT MAN. THIS IS >!FUCKING !<BULLSHIT. You basically take customer funds, and convert it into your own coins out of >!your ass !<thin air
That's interesting. If it's really on your Kucoin account (i.e. on the exchange), it should ideally be safe to just convert it to USD (or KCS if it's dust) since Kucoin is probably not going to bother to do any txns on chain but simply update your balances. At least that's my understanding.
Not just the BSC chain. There are a few exchange-linked blockchains such as BSC, Cronos and KCC which are linked to Binance, CDC and KuCoin respectively. I’m sure there are others. Tokens on exchange-linked blockchains are likely backed by the exchanges themselves and if the exchanges go down, these tokens would likely become worthless (see solana sollet tokens and FTX). You can keep the native coins (like BNB, CRO, KCS) on these chains for the long term but for anything else you should hold them on their native chains (ETH on Ethereum, BTC on Bitcoin blockchain, ADA on Cardano, etc).
The FTX discounts are on their [fees page ](https://help.ftx.com/hc/en-us/articles/360024479432-Fees) if you had had 100k USD of FTT, you would get 25% off. the original fee depends on your trading over the last 30 days and whether it's taker or maker binance does the same thing with bnb but you don't jsv it to hold x amount I don't think If you use bnb as the fee it's 25% discount KuCoin does it with KCS, coinex does it with CET I am sure there are more
I’d agree with you on this. However, the fact that KCS has sort of stayed out of this may have something to do with it. Nevertheless, I know KCS is definitely manipulated during certain times of Bull and bear markets. You see these Tx’s coming in out of nowhere that push it like *riiighttt* past that weekly pivot or whatever.
Look at the currently ongoing KCS price manipulation. The whole market is red, exchange coins being the biggest losers. Yet KCS for some reason (paid market makers) pumps to 8%+ and has huge volume ... Definitely nothing to see here.
Yes. The slight area of concern is that a large portion of their reserves are made of their own coin, which could lead to a death spiral of the crypto market as a whole if the exchange tanks How likely would KCS tank? As likely as the other major exchanges now which IMO, isn't a concern
KuCoin sent email this morning: Here, see an overview of our hot and cold wallet addresses and their current holdings: BTC ( 20,504 BTC) ETH ( 180, 299 ETH) USDT ( 1,075,909,241 USDT) USDC ( 365,722,839 USDC) KCS (69,601,075 KCS) *The snapshot was taken on 11/11/2022 at 7:00 UTC and does not represent all our holdings.*
2022 will be a year to remember ! But I am optimistic that like the bear season of 2018, the aftermath of this will be birthing millionaires. It's quite saddening that many who have been here will leave as a result of devastating losses made, and they'll miss out when the bulls return. A time like this truly calls for a sober reflection of the investment decisions we made, cutting down on them and going for projects that have shown resilience in the midst of the winter. Exchange tokens have truly stood defiantly in the face of this bear ( except for the catastrophic case of FTT ). The likes of BNB, KCS, and MX have been part of my portfolio and I have continued to DCA at every good opportunity. Lately I am committed to having more of MX because of its strategic deflationary mechanism wheeled by the exchange to keep the circulating supply at 100 million. Which they're already buying back from the secondary market with 40% of revenue on trading fees and burning quarterly. Before I close it down, let me emphatically stress it out that NO ONE HAS MADE IT BUYING GREEN CANDLES – real money is in the red dildos ✌️.
Thx but why did binance dump FTT? And isn't FTX's coin they made FTT, just like KCS is for the exchange Kucoin? If true and binance dumped FTT, that would hurt FTX and bring their valuation down, thus cheaper to buy FTX
Sorry about that, same reason why if you must invest, get into a project with a vision and a solid one at that, I remember buying into some Memes back then, all of which are currently less than 20$, fortunately, I got a small bag of QNT, ALBT & KCS. ![gif](giphy|DhstvI3zZ598Nb1rFf|downsized) these are the few assets posing a smile at me
I totally agree, exchanges also plays a key role, the transaction speed, liquidty, the events and listings, these are only few things you should consider during the bear market. With regards to that of stable coins, its actually wise to invest on those tokens specially for MX, BNB and KCS. Mexc, Binance and Kucoin are only ot the few top exchanges in the industry. This nativecoins can be staked in the exchange and can be used in the events which could potentially give good rewards.
Well good for both exchanges since it will increase the tokens valuation, since the demand will become higher than supply, it's just a matter of "basic economics". As to that of KCS, they should find a way to resolve that to counter inflation.
I have been familiar with Ku Coin and MEXC for a long time and I held Ku Coin's KCS & MEXC's MX token. Since Dec 2021, MEXC has continued to burn MX tokens, I got good profit by holding MX token. A few months ago KCS token was burned but KCS token did not increase much.
Investing in coins that are yet to be launched seems risky to me. Currently, I am holding VLX, MX, UST, and KCS. Reason? They are already launched and they have a strong foundation. That alone gives me peace. Most especially, VLX and KCS
Buying BTC and ETH at the current price is a good bargain. Another Perfect way I earn Irrespective of the market conditions is by buying and holding Exchange tokens. My two most profitable is KCS And MX tokens. With them I gain access to numerous profitable projects and Events in both exchanges. For instance $15k worth of My KCS holding can gives me upto $70 in profit per month, but my $3k worth of MX gives me $200 in profit per month. This has made me prefer holding MX More.
Every investor has its own stratagey of investing so does mine. I personally like exchange tokens for long term such as BNB, KCS, MX, HT etc. because of their utility in participating various events to earn free rewards mainly in IEOs additionally it help in getting discount on trading fees. You can diversify your portfolio in low caps and high cap exchange tokens such as BNB, KCS, HT (high caps) and MX (lowcap). Both BNB and MX share same kind of technicalities such as quarterly burning till max supply reaches 100 million. As we know Binance is the No.1 exchange and its token wont let you down because of impact of Binance in crypto market. Additionally Kucoin and MEXC is best for low caps and in number of tokens available to choose from.
Alright, hold up, reality check here: PXD (Pioneer natural resources) is near its all time high - 7 billion in Revenue, smashing all targets. It's dividend is currently 10.83%. Not only is the stocks price stable and going up, but it pays a huge dividend. KCS is down 70% from its all time high and pays 2-5%. You're accepting a huge level of loss for a tiny ROI. Even a company like Verizon is 6%+ dividends and features basically zero risk. Hell, even my stodgy Ford stock offers 4%. The stock market has plenty of similar stocks and they even go up! Now, obviously the *potential* for stuff in Crypto can go crazy, and we both know that - But let's not pretend the stock market is dead and doesn't offer any sort of dividends or rewards to its shareholders.
KCS has its own chain and ecosystem so it wouldn't apply here (https://explorer.kcc.io/) - It's not a standard ERC20 token. BNB was nothing until BSC was launched - It was a meandering $10-$15 token until the launch of BSC. Staking turned on along with the atmosphere and it was nothing but up until then. We'll have to disagree about the profit generated by the exchange, it's 100% about the ecosystem around the coin and whether or not it can perform in its own environment. If you're relying on a centralized exchange ERC20 token to make you your fortune, you're probably better off in the stock market investing in VOO or something.
BNB is king! I do think exchange tokens, also DEX tokens will continue to do very good - KCS or GMX are also in my bag! And FLD has potential, as it will help them all with managing liquidity more efficiently and smart routing for best execution prices. I read that FLUID already has more than 20 MOU signed by top exchanges. Their solution is needed.. Let’s see!
Exactly, only the greedy ones get rekt right now. I only DCA into a few altcoins like SCRT, ETH, KCS, and SPOOL. I love their staking rewards as it suits my long-term investment plan. I only trade spots and I try not to have an over-diversified portfolio.
I just noticed the altcoin season index says that it is altcoin season (84). That is so unexpected during the bear. Only ALGO, APE, CRO, HBAR, Zec, BCH, KCS, and EGLD did worse than Bitcoin over the past 90 days. See [https://www.blockchaincenter.net/altcoin-season-index/](https://www.blockchaincenter.net/altcoin-season-index/).
Well, KCS for instance: The coin doesn't generate the revenue. You get rewards by holding it in the kucoin exchange, and it's giving you a cut of the trading profit. That's like Charles Schwab giving you a slice of their revenue from your holding Apple. Isn't it?