KuCoin Gets An Upgrade: Platform 2.0 Brings New API, Order Types, Lower Trading Fees
Summary: As a cryptocurrency exchange, KuCoin has launched several measures to stay ahead in the game. Through its new Platform 2.0, the exchange brings new API, new order types (for traders), attractive trading fees, and other self-service features.
Entire Press Release:
KuCoin, one of the most popular cryptocurrency exchanges, has officially launched KuCoin Platform 2.0. In addition to brand-new interfaces for the KuCoin website, iOS and Android Apps, the new platform brings plenty of new features like a new WebSocket API, Stop Orders, Device Trust System, and SNS push notifications.
KuCoin 2.0 is much more than a single exchange, it is a dynamic, secure and malleable trading platform that is able to provide stable and efficient services to KuCoin’s 5 million global users.
“This upgrade is another milestone after our $20 million round A funding from IDG Capital, Matrix Partners, and NGC,” said Michael Gan, CEO at KuCoin. “As the ‘People’s Exchange’, we always listen to our users and have gained a number of insights during the R&D of Platform 2.0.
The long-awaited multiple order types will better satisfy our investors’ trading needs. Meanwhile, the advanced WebSocket API and Rest API will contribute to improving our liquidity and market depth. We are confident that these features will make KuCoin a better place to trade.”
KuCoin Platform 2.0
Advanced Brand New API – KuCoin’s APIs are designed to offer an easy and efficient way to develop a secure and programmatic trading strategy. LEVEL 2 and LEVEL 3 data has also been added.
Various Order Types – KuCoin now offers users a suite of order types to give traders the tools they need for every scenario. These include Limit, Stop, Market, Post Only, Iceberg etc.
Reliable Security Solutions – Multiple security mechanisms to protect users’ information and funds are our first priority. With the update, KuCoin now supports SMS authentication, a device trust system, and protective walls to reinforce user information and assets.
More Attractive Fee Program – KuCoin will now be launching a new Tiered Trading Fee Discount Program, developing separate trading fees for Takers and Makers, creating high liquidity, and effectively reducing trading fees, all while improving transaction efficiency.
More Convenient Self-service Management Features – Platform 2.0 has added support for internal transfers, self-service unbinding, self-service freezing/unfreezing of accounts, and other user self-service functionality to greatly improve service efficiency.
Efficient Notification Module – The KuCoin WebSocket feed, together with newly added App and SMS push notifications, will let you easily gain access to real-time market data.
KCS Surged 40%
After announcing the news of the impending release of KuCoin’s Platform 2.0 upgrade on February 17th, KuCoin Shares (KCS) have gone up more than 17%, reaching $0.42. Soon after the completion of the upgrade, the token rallied to over $0.52, jumping almost 40% in three days.
Similar to Binance’s BNB, KCS is the native token of the KuCoin Exchange. By staking the coin, holders can receive a pro rata share of 50% of all trading fees accrued by the platform, known as the KCS bonus. Also, according to KuCoin’s new tiered trading fee discount program, holding
KCS will bring trading fees down to as low as 0.0125% for makers and 0.03% for takers. Investors who own more than 110,000 KCS could even get access to DMA and Colocation services.
Michael Gan commented: “The price of KCS can partly reflect the public’s expectations for KuCoin’s future. Our Platform 2.0 brings many features that target institutional investors, and their attendance will contribute a lot to our market depth and trading volume alike. Meanwhile, another focus for us is to expand the use cases of KCS in the real world. One good example of this is that we recently worked with ETHLend to allow our users to get a crypto loan with KCS.”
The KuCoin Exchange opened for cryptocurrency trading in September 2017 and has enjoyed steady growth into 2018. The KuCoin exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects.
KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries.
In November 2018 ‘The People’s Exchange’ officially partnered with IDG Capital, Matrix Partners, and Neo Global Capital.