KuCoin is the new trend of Cryptocurrency
The scrambling of retail and institutional investors has given rise to the popularity of KuCoin. Its registered users have grown by 1100% year-on-year, increasing by 21.5% in Asia and 16.8% in Europe. Continuing to promote its globalization strategy, KuCoin intends to bring crypto services to more people worldwide. It is planning to reach 10 million users by the end of 2021.
KuCoin raises $150M in Series A
As we near the end of 2017, the next milestone for KuCoin has arrived. It has raised $150M in Series A funding from existing investors. This funding will be used to further expand the product and ecosystem and bring new projects to the market. For example, KuCoin will use the new money to expand its presence on Web3.
With this new funding, KuCoin can now expand its offerings beyond cryptocurrency wallets to other digital assets, such as GameFi and DeFi. The exchange currently has 18 million users and is expected to grow its service portfolio even further. It is also planning to introduce a range of new financial services including spot trading, margin trading, P2P fiat trading, and futures trading. The $150M funding round was led by Jump Crypto and Circle Ventures. Additional participants in the round included IDG Capital and Matrix Partners.
The new funding will help KuCoin expand beyond centralized trading, and focus on developing Web 3.0 crypto wallets, game platforms, and NFT platforms. Jump Crypto, the cryptocurrency arm of the Jump Trading Group, led the funding round. IDG Capital, Circle Ventures, and Matrix Partners also contributed to the round. The company has a market cap of $10 billion. KuCoin is reportedly worth $10 billion.
Pantera Capital has invested in more than eighty blockchain startups, including more than 65 seed stage projects. The new funding will help the company expand to 200K users and recruit professional developers. The company has a lot of work ahead of it to make the platform even better. These projects have the potential to transform the entertainment industry. So, while cryptocurrency investment may not be widely recognized in some countries, it is a sound choice for many investors.
KuCoin has a virtual office inside Bloktopia
In the virtual world of the Metaverse, a crypto exchange called KuCoin has just joined. In a bid to gain a foothold in the new metaverse, the cryptocurrency exchange has opened a virtual office inside Bloktopia, a skyscraper with 21 levels. The levels represent the total supply of Bitcoin. KuCoin users will be able to decorate their virtual office in cyberpunk fashion, interact with virtual furniture, and chat with other users within this slick virtual world.
Rather than wasting time in meetings at a traditional office, KuCoin has decided to open a virtual office inside Bloktopia’s skyscraper. It’s not the first cryptocurrency to do so, but KuCoin is the first. Other cryptocurrency exchanges are expected to follow KuCoin’s lead. Virtual offices are a boon for traders, and will make it easier for them to access and utilize the crypto services they offer.
To help promote its product, KuCoin has taken a dive into the metaverse technology. The virtual office is located on the 21st floor of a virtual skyscraper, and visitors will be able to interact with furnishings and decorations. It’s similar to how Facebook rebranded itself as “Meta” in a few years, only more realistic. And the company has branded BLOK its official currency within Bloktopia, and will make it easier for users to earn and use the cryptocurrency.
The BLOKTOPIA metaverse is a decentralized virtual world where users can rent offices and hold meetings and earn revenue from advertising and real estate. During your visit to Bloktopia, you can chat with other users, play games, and earn KuCoin through the various options offered by the virtual marketplace. Moreover, you can experience virtual reality in the ultimate VR experience and interact with your virtual office partners by speaking through voice and text.
In addition to being a virtual office, the KuCoin team will support other blockchain-based platforms. In this regard, the office will feature a wide range of functions including browsing NFT, online AMA, viewing crypto market trading data, and interacting with people. As a result, KuCoin is an excellent choice to participate in the Metaverse. Its development aims to make it an important part of the metaverse.
KuCoin’s commitment to decentralized services
As a part of the Decentralized Web, KuCoin uses Google’s two-factor authentication for its services, and has since added a trading password feature to its services. By setting a unique trading password, users can verify transactions and withdrawals without having to use digital currency. Aside from a strong authentication system, KuCoin also offers APIs to allow users to make deposits and withdrawals without using digital currency.
With eight million users and the growing number of users, KuCoin has made itself a social-focused trading ecosystem with social features. KuCoin S is designed to make the crypto industry more accessible to those with limited knowledge. Its social extensions and decentralized nature make it easier for people to engage and learn about the crypto world. As a result, it’s hoped that the socialization of Cryptocurrency will take over the industry.
KuCoin’s KYC verification process requires basic personal information and supplementary documents such as a photo of your government-issued ID. After registering with KuCoin, users can start trading and enjoy other benefits of the platform. KYC verification also helps you receive higher daily withdrawal limits. The KYC process is simple and quick, and KuCoin’s team is committed to making the process of using KuCoin even easier.
Aside from KYC, KuCoin offers access to over 1,000 cryptocurrency pairings. Such as, LUNC/USDT, BTC/USDT and ETH/USDT. In addition, KuCoin lets you trade in Bitcoin futures and crypto-specific indexes. You can also trade Bitcoin futures on KuCoin, but it is important to keep in mind that US citizens cannot use the KuCoin exchange platform in the US. Additionally, since many countries consider crypto-to-crypto trades to be taxable, you may be restricted from using the service.
One of the most recent trends in the crypto community is the growth of stablecoins. Stablecoins are a great option for businesses that accept crypto payments. Small businesses cannot absorb the volatility of mainstream cryptocurrencies. A stablecoin, like KuCoin, earns APY (Annual Percentage Yield), and has been valued at $10 billion.
KuCoin’s performance in Q1 of 2022
The upgraded KCS Whitepaper was released on March 29, discussing the new age of exchanges, deflationary systems, and self-circulating ecological communities. KuCoin is advancing its decentralized use case through the creation of the KuCoin Community Chain. The KCS Management Foundation will be responsible for its development, investment, and application. This new chain is an eco-system that will launch and utilize the KuCoin ecosystem. The KCS will become a platform for the KuCoin ecosystem, enabling communities to participate in the coin’s development and use.
A new report released by the KuCoin cryptocurrency exchange highlights the key factors contributing to KuCoin’s stellar performance during Q1 of 2022. The report highlights the economic, community, and regulatory factors that pushed the cryptocurrency exchange to a significant grip during the first quarter of 2022. The KuCoin community is also thriving, as more users are discovering the value of cryptocurrencies. The KuCoin team continues to work hard to foster greater adoption of blockchain and cryptocurrency.
The new report highlights several achievements and milestones for the global cryptocurrency exchange. In Q1 of 2022, the total volume of trading on KuCoin was $1 trillion. The daily peak trading volume of KuCoin Spot surpassed $9 billion. During the same time period, KuCoin Futures reached $15 billion. KuCoin has added 6 million new users, increasing by 491% year-over-year. It is expected to increase its user growth throughout the remainder of 2022.
The new report from KuCoin also outlines key milestones and general performance metrics. KuCoin’s Twitter channel has grown from a few thousand followers to 1.6 million and has added over 320,000 new followers. The company has twenty-three global neighborhoods and more than five hundred thousand subscribers, a sign of increasing interest in the cryptocurrency market. Its website also has an extensive list of FAQs and frequently asked questions.
As a leading global cryptocurrency exchange, KuCoin Ventures has invested in Joyride Games. The company provides go-to-market support, developer tools, and blockchain technologies to create games for casual mobile audiences. The company recently announced $14 million in funding from blockchain and game funds. KuCoin’s $100 Million Creators Fund is committed to helping young artists show their talents and create a global NFT marketplace.