The 4th anniversary marks a unique second for KuCoin. They’ve just lately claimed at TechCrunch Disrupt 2021 that it intends to be the primary and largest social buying and selling platform within the crypto sector.
This couldn’t occur with out the preliminary 7-person workforce discovering a solution to spearhead crypto adoption in 2013. Little did they know, KuCoin would change into a world undertaking with over 600 staff and serve eight million customers in 207 nations.
KuCoin began only as a spot-crypto buying and selling platform. It’s now morphed right into a hugely wealthy crypto ecosystem because of onboarding industry-standard services and products equivalent to KuCoin Highlight, KuCoin Futures, KuCoin Buying and selling Bots, KuCoin Pool, KuCoin Labs, and extra.
This development has ended in $500 billion amassed in buying and selling quantity and over 800 million transactions.
How it began
KuCoin founder, Michael Gan was once a tech skilled for Alibaba Workforce’s Ant Monetary. He first heard about Bitcoin when it was once handiest $6 from his boss (and now co-founder), Eric Tang. Michael did what the general public do after they acknowledge Bitcoin’s long term possible – mine.
After stacking BTCs, Michael made up our minds to promote some on Mt.Gox because it had probably the most liquidity. He right away spotted how difficult the platform was once for inexperienced persons and the way it will be an issue for mass adoption. He subconsciously understood that blockchain tech can handiest exchange the sector if the sector is aware of how you can use it.
Michael and his pals noticed their unique ideas on blockchain’s long term materialize as cryptocurrencies grew extra well-liked.
It drove them to consider concepts that will play an important function in international adoption and identify themselves in crypto historical past. This sparked the theory of a user-friendly trade platform any individual can get admission to.
Whilst the general public had their eyes at the Mayan calendar in 2012, the KuCoin dream workforce was once forming via pals and acquaintances that shared the similar pastime for blockchain generation and cryptocurrencies.
By way of the tip of 2013, KuCoin had its “hi global” second because the workforce wrote down the primary bits of code in a restaurant. They by no means seemed again, and the remaining is historical past.
The ICO Technology: KuCoin’s make or spoil second
Michael and his workforce paid sturdy consideration to the ICO marketplace in mid-2017 as tasks have been failing from all instructions, and a few have been glaring scams. They noticed the chance to lend a hand the neighborhood no longer fall into ICO traps, and it began with a shift of identification.
KuCoin not noticed itself as a elementary buying and selling trade. It made up our minds to be the ‘Other folks’s Alternate’ as a substitute.
They did this by way of the use of their platform “to search out the most efficient tasks to be had and the ‘hidden gem stones’ of the crypto-world for our customers.”
This was once a dangerous choice as KuCoin’s recognition was once at the line. Directing customers to the improper tasks can harm an trade indefinitely. Particularly right through an adoption wave.
From that second ahead, it’s been not anything however all-time highs for KuCoin.
Michael can have began his crypto adventure mining Bitcoin, however now, he and his workforce give miners a explanation why to look long-term worth in crypto.
In November 2018, KuCoin finished a $20 million Sequence A financing from IDG Capital and Matrix Companions. It’s price noting that IDG may be an early investor of acclaimed crypto exchanges like Coinbase and Liquid. Those budget additionally helped KuCoin proceed to enhance its platform’s balance, protection, and simplicity of use. Culminating in larger worth for its customers.
KuCoin greater its consumer base by way of an enormous 1144% this yr and tripled the choice of feminine investors on their platform. Feminine investors at the moment are 38% of customers.
GameFi (the play-to-earn NFT ) is booming and KuCoin took lead by way of developing the primary buying and selling board for metaverse tokens.
KuCoin additionally outperformed Deribit and approached BitMEX in derivatives buying and selling volumes.
So, what’s subsequent for KuCoin in 2022?
KuCoin CEO finds all
Present CEO, Johnny Lyu mentioned KuCoin’s roadmap for 2021-2023 early this yr. It confirms their plans to improve their present methods and deploy extra high quality services and products.
Within the 1st quarter of 2022, KuCoin will likely be launching a three.zero model of its pockets custody gadget. Within the subsequent quarter, KuCoin Matching Engine three.zero will move are living — this will likely additional building up the rate and potency of customers striking trades.
The final two quarters pay attention to making improvements to their futures buying and selling gadget and attaining metrics equivalent to 25 million international customers, over 1,000,000 Twitter fans, and for his or her day-to-day quantity to move $15 billion.
Regardless of their indexed goals, KuCoin’s intentions haven’t modified that a lot. They’re nonetheless considering discovering the following crypto gem stones, aiming to be probably the most distinguished altcoin trade. However now, they’re additionally absolutely dedicated to elevating the worth of KCS (KuCoin Token) to the purpose it reaches the highest 30 in marketplace capitalization.
This implies they’ll be looking for the following easiest developments within the NFT and DeFi house.
Any other attention-grabbing function KuCoin plan to succeed in is remodeling right into a social buying and selling platform, which remains to be clean within the crypto . Lately, maximum exchanges center of attention on construction a greater buying and selling software, whilst KuCoin known crypto buyers’ wishes past buying and selling.
This will likely be completed during the release of numerous new social options later this yr. This may increasingly permit customers to raised perceive and industry crypto on KuCoin and to find international buyers who percentage the similar pastime. In the course of the knowledge and interplay services and products equipped by way of the platform, even a newcomer could have a larger likelihood to win.
KuCoin is effectively turning the crypto mass adoption marathon right into a dash.
Their exponential expansion, contemporary additions, and bullish plans check this.
The crypto house is changing into extra attention-grabbing by way of the day as there’s at all times one thing new that may probably exchange the sector. KuCoin targets to be at once concerned about what crypto provides the folks subsequent.
KuCoin isn’t just hanging themselves at the leading edge of the crypto rollercoaster, they’re making certain the trip by no means ends.