The 4th anniversary marks a particular second for KuCoin. They’ve 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 crew discovering a approach to spearhead crypto adoption in 2013. Little did they know, KuCoin would turn into a international enterprise with over 600 staff and serve 8 million customers in 207 nations.
KuCoin began solely as a spot-crypto buying and selling platform. It’s now morphed into a massively wealthy crypto ecosystem due to onboarding industry-standard companies comparable to KuCoin Spotlight, KuCoin Futures, KuCoin Trading Bots, KuCoin Pool, KuCoin Labs, and extra.
This progress has led to $500 billion accrued in buying and selling quantity and over 800 million transactions.
How it began
KuCoin founder, Michael Gan was a tech skilled for Alibaba Group’s Ant Financial. He first heard about Bitcoin when it was solely $6 from his boss (and now co-founder), Eric Tang. Michael did what most individuals do when they acknowledge Bitcoin’s future potential – mine.
After stacking BTCs, Michael determined to promote some on Mt.Gox because it had essentially the most liquidity. He instantly seen how difficult the platform was for newcomers and the way it might be a downside for mass adoption. He subconsciously understood that blockchain tech can solely change the world if the world is aware of how to use it.
Michael and his pals noticed their unique ideas on blockchain’s future materialize as cryptocurrencies grew extra fashionable.
It drove them to consider concepts that will play a very important function in worldwide adoption and set up themselves in crypto historical past. This sparked the concept of a user-friendly change platform anybody can entry.
While most individuals had their eyes on the Mayan calendar in 2012, the KuCoin dream crew was forming by pals and acquaintances that shared the identical ardour for blockchain know-how and cryptocurrencies.
By the tip of 2013, KuCoin had its “hello world” second because the crew wrote down the primary bits of code in a cafe. They by no means appeared again, and the remaining is historical past.
The ICO Era: KuCoin’s make or break second
Michael and his crew paid robust consideration to the ICO market in mid-2017 as initiatives have been failing from all instructions, and a few have been apparent scams. They noticed the chance to assist the group not fall into ICO traps, and it began with a shift of id.
KuCoin now not noticed itself as a fundamental buying and selling change. It determined to be the ‘People’s Exchange’ as an alternative.
They did this through the use of their platform “to find the best projects available and the ‘hidden gems’ of the crypto-world for our users.”
This was a dangerous determination as KuCoin’s fame was on the road. Directing customers to the fallacious initiatives can harm an change indefinitely. Especially throughout an adoption wave.
From that second ahead, it’s been nothing however all-time highs for KuCoin.
Michael might have began his crypto journey mining Bitcoin, however now, he and his crew give miners a cause to see long-term worth in crypto.
In November 2018, KuCoin accomplished a $20 million Series A financing from IDG Capital and Matrix Partners. It’s value noting that IDG is additionally an early investor of acclaimed crypto exchanges like Coinbase and Liquid. These funds additionally helped KuCoin proceed to enhance its platform’s stability, security, and ease of use. Culminating in better worth for its customers.
KuCoin increased its person base by a large 1144% this 12 months and tripled the variety of feminine merchants on their platform. Female merchants are now 38% of customers.
GameFi (the play-to-earn NFT {industry}) is booming and KuCoin took lead by creating 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 reveals all
Current CEO, Johnny Lyu discussed KuCoin’s roadmap for 2021-2023 early this 12 months. It confirms their plans to improve their present techniques and deploy extra high quality companies.
In the first quarter of 2022, KuCoin might be launching a 3.0 model of its pockets custody system. In the following quarter, KuCoin Matching Engine 3.0 will go dwell — this can additional improve the velocity and effectivity of customers putting trades.
The final two quarters focus on enhancing their futures buying and selling system and reaching metrics comparable to 25 million worldwide customers, over a million Twitter followers, and for their each day quantity to cross $15 billion.
Despite their listed targets, KuCoin’s intentions haven’t modified that a lot. They’re nonetheless centered on discovering the following crypto gems, aiming to be essentially the most distinguished altcoin change. But now, they’re additionally absolutely dedicated to elevating the worth of KCS (KuCoin Token) to the purpose it reaches the highest 30 in market capitalization.
This means they’ll be looking out for the following finest developments within the NFT and DeFi house.
Another attention-grabbing purpose KuCoin plan to obtain is reworking into a social buying and selling platform, which is nonetheless clean within the crypto {industry}. Currently, most exchanges deal with constructing a higher buying and selling software, whereas KuCoin recognized crypto traders’ wants past buying and selling.
This might be completed by the launch of a lot of new social options later this 12 months. This will enable customers to higher perceive and commerce crypto on KuCoin and discover international traders who share the identical curiosity. Through the knowledge and interplay companies offered by the platform, even a newcomer can have a larger probability to win.
KuCoin is efficiently turning the crypto mass adoption marathon into a dash.
Their exponential development, current additions, and bullish plans confirm this.
The crypto house is changing into extra attention-grabbing by the day as there’s at all times one thing new that may doubtlessly change the world. KuCoin goals to be straight concerned in what crypto provides the individuals subsequent.
KuCoin is not simply placing themselves on the forefront of the crypto rollercoaster, they’re guaranteeing the journey by no means ends.
