KuCoin Upgrades New Coin to Give 50% Exchange Fee as Reward

The Singapore-based cryptocurrency exchange, KuCoin, made the announcement today that it has boosted the daily rewards bonus for the KuCoin Token or KCS. The rewards for the token will be to give holders 50% of all transaction fees done on the platform.

The announcement by KuCoin was done based on the decision to make daily payouts for future transactions done solely on the platform in the KuCoin token, rather than of every other available crypto-coin on the exchange.

The KuCoin Token started receiving the reward on July 10th, just one day ago. To make this happen, they will be using 50% of all the trading fees to purchase KuCoin from the marketplace, then to displace them back to the new users on KuCoin Bonus Program, thereby replacing the older one.

KuCoin has already made the announcement that any new users will be able to invite friends and colleagues to sign up for the exchange in order to receive the 20% referral bonus for everyone who they get started on the platform.

KuCoin has more than 140 altcoins, each listed on the platform, including the DRGN, OMG, CAPP, CVC, DBC, QTUM, and TENX Tokens.

The price of KCS’s tokens have been mostly flat-to-positive over the last 90 days, ranging from $2.60 to $3.05. The exchange coin has a total market cap worth over $276 million. What are your thoughts on the coin’s bonus rewards and the new referral system put in place? Let us know your thoughts in the comment section below.

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