Kucoin Exchange is one of the best bitcoin and cryptocurrency exchanges to lookout for. With over 170 projects listed on the exchange and over 350 trading pairs within their first year, the CEO Michael Gan, will be telling us in this interview, what the future holds for Kucoin Exchange.
1) Please tell us your name and about yourself?
Hello, my name is Michael Gan, and I am the CEO and co-founder of the KuCoin Exchange, also known as “The People’s Exchange.” I was among the first batch of users of NetEase’s free personal site hosting service in 1998. In 2009, while at university, I became the main developer and co-founder of Missyi Inc., an image sharing and editing app, and later I was a technical expert for Alibaba Group’s Ant Financial.
During my time at university, I also became very interested in Bitcoin mining and blockchain technology. That is when my focus shifted to the crypto-world. While I continued with university and my entrepreneurial goals, I was becoming more and more focused on blockchain technology, which eventually led to creating KuCoin.
2) What is KuCoin?
KuCoin is a cryptocurrency exchange based in Singapore. We have listed over 170 projects with over 350 trading pairs within our first year. We also have over five million registered users to date. KuCoin has some programs unique to our exchange, as well. Some of which reward user-loyalty based on KuCoin’s cryptocurrency, KCS（KuCoin Shares). Finally, KuCoin offers one of the largest selections of NEO trading pairs.
3) What are the unique programs of the KuCoin Exchange and other services provided by KuCoin?
We have multiple programs unique to KuCoin. Some were recently released, and we have more coming in the future months. One of our most recently started programs is our Global Titan Ambassador Program. This program was set up to help us acquire new partnerships and help our exchange grow and benefit our users. The main aim of this program is to help us continue finding the best blockchain technology projects and ‘hidden gems’ of the crypto-world by teaming up with influencers and professionals in the entire industry. I will elaborate more on this later.
One of the most popular programs unique to KuCoin users is the Referral Bonus Program. For each person you refer to KuCoin, as long as they enter your referral code when they signup, you will receive a percentage of all of their trading fees for one year. Then, for anyone that you referred, you will receive more bonus for anyone that they refer to the exchange and so on.
Another popular program which rewards user-loyalty is our KuCoin Bonus Program, which was recently updated when users voted for a change. Based on KCS (KuCoin Shares) holdings, with a minimum of six KCS, users receive a daily bonus. Under our recently updated system, we will use 50% of all trading fees earned by KuCoin to buy KCS from the market and then redistribute the KCS back to users. In addition to the daily bonus for holding KCS, users also receive discounted trading fees depending on the amount they hold.
Something else we recently started was our Global Communities Program. As “The People’s Exchange,” we are deeply concerned about our user experience, which led to the development of this program. We have started developing global communities that respect and adapt to the individual needs and requirements for specific user groups. Currently, we have active communities in English, Chinese, Russian, Italian, Vietnamese, Turkish and Spanish. While this program is still new, it has been widely accepted, and I hope to have a total of 10 communities up and running by Q2 of next year.
One more aspect of KuCoin is that KYC (Know Your Customer) personal information submission is not mandatory, but as of November 1st users that have not completed KYC will be restricted to withdrawals of 2BTC or less every 24 hours. We are one of only a few centralized exchanges that don’t require KYC.
Lastly, we are always trying to come up with new competitions, giveaways and ideas to keep our users happy and involved. Earlier this year we gave away a Tesla Model S with Car Vertical, as an example. Also, we recently had our one-year anniversary, which involved seven different competitions, trading discounts, and giveaways. Then, we followed this with our second Vote for Your Coin action on Telegram. All of these events were very successful, and our team is continually coming up with new ideas like this for our users.
4) From what we could see on your platform, KuCoin has experienced amazing progress since its launch, would you like to share your story with us and how KuCoin began?
Yes, I would. Some of my friends and I had become interested in cryptocurrency and mining from the early stages of Bitcoin while still in university. We were and still are firm believers in the uses of blockchain technology and the idea of decentralization.
Over the years, as cryptocurrencies became more popular, we were spending most of our free time thinking of ways to help blockchain technology become mainstream, and by early 2011 we started our in-depth research on blockchain technology. As we continued our research and our knowledge about blockchain technology grew, we started flirting with the idea of creating a user-friendly exchange platform where we would offer all people easy access to up and coming crypto projects.
Through my friends and acquaintances, we built a team of people that shared the same passion for blockchain technology and cryptocurrencies in 2012, and most importantly we all had the necessary skills and trusted each other. By 2013, we had successfully built KuCoin’s technical architecture. Once we had this dependable technical architecture in place, we knew that our team was ready to engage in the cryptocurrency exchange business confidently in 2017. Then, as our platform came together and was getting closer to the launch date, we noticed the amount of ICOs that started in mid-2017 and how many were failing or were outright scams. At this point, we knew we had something better that would offer real value to users.
That is when we decided our exchange would be ‘The People’s Exchange.’ We would use our platform to find the best projects available and the ‘hidden gems’ of the crypto-world for our users. We launched in September 2017, and I believe that this is the reason we passed our expected two-year growth expectations in the first four months.
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