The Kucoin Crypto Buffet - K3 Loyalty And Fake News
Ages ago I wrote about Kucoin, the centralized exchange that promises you the world with its “super low fees” and “tons of tokens.” It’s like the buffet of crypto exchanges so good luck finding your favourite dish in the chaos.
You might get lost between hundreds of trading pairs, but at least there’s always a “special” coin that’s “definitely going to the moon” today. Just remember to buckle up because if you’re not careful, you might get launched into a price dip instead!
Kucoin is back into the headlines with their "brand new and innovative" Loyalty Tiers. The new system offers a range of exclusive rewards for users who stake $KCS, allowing them to unlock greater benefits and deeper engagement with the platform.
It sounds like empty promises, exactly like the Burning Drop campaigns and the "new" referral systems. I reached K3 so what's ne? By reaching this level I gained enhanced cashback, increased trading fee discounts, and extra rewards from KCS staking.
Any true benefits? I've got 2% cashback on eligible purchases but can't have a Kucoin card. Then the bonus 2% from their KCS staking is capped at a certain limit. Additionally, K3 members get a 1.5% discount on trading fees, lowering overall costs for traders... if you trade!
The K3 Loyalty Level is designed to encourage users to increase their KCS holdings, rewarding them with a more advantageous and cost-effective experience within the Kucoin ecosystem. To participate, all you need to do is stake at least 1 KCS, with the rewards scaling up as you increase your staking amount.
Let me tell you why I don't write about Kucoin that often! Because is not even close to the opportunities available on DeFi protocols. I received some airdrops, like $MONKY, and sold them for peanuts.
The positive aspect is that Kucoin will list some of those tokens that are not available on mainstream DEXs, helping out when I need to cash out weird ones like AVAIL, DFI or non-EVM assets.
I faded away DFI, after they crashed and never recovered, and the long-staked HYRDRA. Swapped them all, plus NATIX, to KCS and staked the updated balance for even better reward. The new loyalty program is great!
I was just joking! Kucoin’s K3 Loyalty Program is like that friend who promises you "VIP" access to a party, but then gives you a paper wristband and a half-empty drink.
You get some perks, but at the end of the day, you’re still stuck in the corner watching everyone else enjoy the real fun. Still, at least you're not paying full price for the punch!
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