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KuCoin has received a major honor in 2022. It is a global digital currency exchange. Forbes Advisor and Ascent consider it to be amongst the best altcoin exchanges. These groups are major press.
Now, KuCoin has garnered public attention in another way, too. It is surging ahead of other cryptocurrencies, in trading volumes. The first half of 2022, has gone beyond $2 trillion. In contrast to the first quarter of 2021, this surge is excellent. The percentage of growth is glorious – 180%! Before that, you also need to know the different styles of bitcoin trading that you may be interested in, which you can read online.
The Origin of KuCoin
KuCoin deals with a vast array of cryptocurrencies and digital assets. This is one of the best investment and trading platforms ever!
The credit for founding KuCoin goes to two tech geniuses. Michael and Eric Both tech geeks realized that the financial system was undergoing a change, thanks to the adoption of blockchains. Blockchains could no longer be confined to the rich, or the educated, only. Instead, they were undergoing modifications to suit the unemployed, less educated, and the unbanked, too.
Therefore, they went ahead with certain plans of their own. The ending of 2013, witnessed the writing of KuCoin’s first pieces of code. The duo launched a People’s Exchange, permitting everyone to become involved with virtual currencies.
KuCoin’s Enviable Progress
KuCoin came into being in September 2017. Since then, it has only moved from strength to strength. It has fans from 207 geographical locations, big and small. They number around 8 million, and more.
Crypto enthusiasts still refer to it as the People’s Exchange. The establishment has its headquarters in Seychelles. Customer services converse in multiple languages. They are available 24 x 7. Then again, regions, such as Southeast Asia, North America, Europe, etc., may avail of localized services.
KuCoin is the home of cryptocurrency gems. It has lent support to 420+ projects, along with 800+ crypto trading pairs. These projects, include DAO, ICP, RNDR, etc.
The establishment received round A funding worth $20 million, from Matrix Partners and IDG Capital, in 2018. By 2021, KuCoin had attracted the attention of Forbes Advisor. The team labeled it the Best Cryptocurrency Exchange.
KuCoin’s Performance in 2022
KuCoin believes in being transparent in its activities and dealings. Therefore, the cryptocurrency exchange brought its developmental activities out into the open. A review of these activities appeared in an official blog. The actions occurred in the first half of the year.
According to the post, the company was breaking its own records. These records are related to daily trading volumes. Apparently, a record was broken every quarter of 2022. To illustrate, the May figures approached $11 billion. Additionally, the volume of the daily futures approached almost $23 billion.
This was not the only noteworthy event. Right from the early months of 2021, the KuCoin platform had been registering an increasing number of users. To date, the count has reached 9.75 million new fans. The increase, since 2021, is a whopping 219%! The global figure, as far as KuCoin’s users are concerned, is beyond 18 million.
Surprisingly, a larger number of fans reside in Asian countries, than they do in other nations. Asian nations are responsible for 5.6 million new users. However, the numbers of newly registered crypto enthusiasts in Europe, Africa, Latin America, and the Middle East, are noteworthy too. The figures are much better than they were in 2021. For instance, Europe demonstrates an enhancement of 142%. Latin America displays an increase of 216%. The Middle East and Africa, together, reveal a figure of 152%.
The increasing figures may be attributed to the listing of 137 crypto assets. With these new additions, the KuCoin platform promises 700 tradeable assets to users.
Thanks to the flexible platform, covert function, fiat trading pairs, one-cancels-the-other (OCO) orders, and isolated margins, have requisite support. Then again, KuCoin’s focus on developments involving Web3 is commendable. These developments, include KuCoin Wallet, Wonderland, KuCoin Community Chain (KCC), and Windvane.
Crypto enthusiasts may expect more from KuCoin in the future, for it has increased its staff. By taking in 400 new members, it has 1,000+ professionals spread across the globe. The establishment believes in granting more opportunities, rather than laying people off during a bearish run.