20 Things You Didn’t Know About KuCoin
KuCoin is a global crypto exchange business that provides consumers with digital assets and crypto services. The headquarters is in Mahe, Beau Vallon, Seychelles. The company has made recent business news with its investor funding activity and tremendous company growth. If you’re not yet familiar with this cryptocurrency exchange, here are twenty things you probably didn’t know about KuCoin to bring you up to speed.
1. KuCoin is a versatile financial exchange
Crunchbase confirms that KuCoin is a versatile company that is listed across five industries on the internet. It is a cryptocurrency company that deals in finance. It is also listed as a Bitcoin, Blockchain, and Financial Exchanges-related company. KuCoin is also known as The People’s Exchange.
2. KuoCoin’s website uses a complex array of technologies
The KuCoin website is powered through the active use of sixty-six technologies to ensure visitors enjoy a smooth and seamless experience. These technologies are distributed across twenty-five technology products and services. Some include Google Fonts, Google Analytics, HTML5, Viewport Meta, iPhone Mobile Compatible for mobile access, and several others. Although the company doesn’t list its IT budget for the year, it’s safe to assume that it spends tens of thousands on IT tech products and service subscriptions.
3. Interest is picking up in KuCoin
The analytics reports for the KuCoin website show that the number of monthly visits is increasing in some countries. Over the past thirty days, a total of nearly 15.5 million viewers visited the website. KuCoin is ranked as number 8,492 of all the millions of websites registered on the world wide web. It is among the largest by web traffic volume.
4. KuCoin is the most popular in the United States
The largest percentage of visitors to the KuCoin website are from the United States. Twenty-six percent of the web traffic is made up of people from this country. The number reflects a monthly visits growth of 13.99 percent. Seven percent of the web traffic is from the United Kingdom with a monthly visits growth of 69.07 percent. Six percent of the web traffic is from Australia, but that number reflects a decrease of 92.49 percent over the past thirty days. Five percent of the visitors are from Germany. Four percent of the visitors to the KuCoin website are from Indonesia with a monthly visits growth of 373.79 percent.
5. KuCoin has a dynamic 2-person core executive leadership team
The core leadership team at KuCoin consists of just two members. Keni Li is a co-founder and vice president of the company. Johnny Lyu is the chief executive officer. The two leaders are joined by several supporting executives and various levels of managers that help to move the company forward to achieve its established goals. Larry He is a managing director. Berry Deu is the senior sales manager. Chester is a senior operation project manager. Goldberg Willims is the community manager. Minty Liu is the VIP client manager. Nemo Lee is the senior operation manager. Wang Gen is the internal control manager. Zipeng Huang is an operations project manager and Chester Han is the director of the listing operation
6. KuCoin invests in other companies
KuCoin is a sizable investor. The enterprise has invested in twenty-one companies with one exit. It invested in Aura Network most recently, on April 18, 2022. The exit was a company called Banxa. Most of the investments are made during seed rounds of fundraising. It invested in a venture round for Skynet EGLD Capital, Mojito Swap as a lead investor, and $4.5 million in LiveArtX. Some of the other companies that KuCoin invested in are Blofin, as a lead investor of a $50 million round, XRus, Mizar, Ref Finance, Galaxy Fight Club, Star Sharks, and several others.
7. KuoCin is a venture capital-backed enterprise
KuCoin has participated in two rounds of venture capital fundraising. The most recent round was a Series B effort that closed on May 10, 2022. The total amount raised is $170 million. KuCoin is supported by six investors. They are Matrix Partners, IDG Capital, Circle, Jump Crypto, Karnika Yashwant, and NGC Ventures, also a lead investor for its Series A round of fundraising. Investors have high confidence that KuCoin will continue to grow and expand to deliver a solid return on the funds invested.
Trading View reports that the Canadian regulatory organization called the Ontario Securities Commission had imposed financial sanctions aimed t KuCoin and Bybit. Both are crypto exchanges. The OSC found both companies violated its codes by operating a crypto entity that is unregistered with services to Canadian residents. They were found guilty of committing violations of some of Canada’s securities laws. KuCoin is targeted for removal from the capital market as a sanction. Additionally, KuCoin is subject to fines of more than $1.5 million. It was an expensive lesson about complying with the regulatory laws of each country individually.
9. KuCoin operates in hundreds of countries with mixed reviews
Investopedia confirms that KuCoin has expanded the reach of its cryptocurrency exchange. It now extends to hundreds of countries. It currently operates in more than two hundred. Some of its customers appreciate the service and give the company high marks, but that’s not the response it has received from everyone. Canada sought to remove it from Canadian investor access and fined the company heavily for non-compliance with Canadian laws and for operating without registration in Canada. KuCoin is not licensed to run its business within the United States of America. Some users from the USA have given KuCoin poor reviews. These are a few of the drawbacks associated with the KuCoin cryptocurrency exchange.
10. KuCoin has a few advantages
KuCoin has its share of negative reviews but there are advantages listed for the exchange. It gives users the potential to earn interest on cryptocurrency. It also works with a broad selection of cryptocurrencies. KuCoin is appreciated for the low fees that it charges users. Investopedia gives KuCoin an overall rating of 4.4 out of 5 for its advantages and drawbacks.
11. KuoCin is a non-traditional brokerage firm
KuCoin, like all other cryptocurrency exchanges, is a non-traditional brokerage firm. Cryptocurrency exchanges are not members of the Securities Investor Protection Corporation. It puts investors at a higher risk of loss than traditional brokerage firms that are bound by regulatory processes and laws. While any investment represents the risk of loss, traditional firms offer a bit more protection. KuCoin clients take the risk that all parties involved are honest and will engage in fair business dealings and activities without the backing of a regulatory commission.
12. KuCoin offers the largest diversity in cryptocurrencies
Most cryptocurrency exchanges deal in a few to a few dozen cryptocurrencies. KuCoin stands out from the crowd by offering one of the largest range of options for those participating in diverse cryptocurrency investment strategies. KuCoin offers more than six hundred cryptocurrency options, which blows its competition out of the water, so to speak. KuCoin users can earn interest on their crypto by lending to other assets and charging interest. It’s one of the strategies used to build larger cryptocurrency portfolios. Fees for using the exchange for trades range from 0.0125% to 0.10% per trade.
13. KuCoin has a few issues to sort
KuCoin would benefit by reviewing its poor user reviews and addressing them to improve its quality among users. Although negative reviews are a part of doing business, problems with customer service, market manipulation, and withdrawals are too frequent. The negative reviews go beyond the average and suggest that consumer perception is becoming lower.
14. KuoCin has been around for a few years
KuCoin is an established company that has been in operation for a while. The founder launched the company in 2017. As of 2022, it is five years old. Although still a new business, it has been around long enough to establish a reputation in the cryptocurrency exchange industry.
15. KuCoin allows multiple trading formats
The KuCoin exchange is popular because of its ease of access through mobile apps or an online portal and the versatility of trading opportunities. Users who register with KuCoin gain access to multiple trading tools and features. For example, the service encourages peer-to-peer trading, market, limit, stop limit, and stop market, along with margin, and futures trading. It offers a Trading Bot to make the trading process fast and easy. The Trading bot also serves as an advisor. Some help is available through the help center for answers to common questions, but the mobile and desktop platforms are not user-friendly. The number of features and tools can be overwhelming without explanation and a tutorial. It’s not the best choice for investors new to cryptocurrency exchanges.
16. KuCoin is a decacorn
Techcrunch reports that KuCoin has reached a valuation that is rare among most startups under five years old. The most recent round of pre-Series B fundraising brought in an additional $150 million in financing. It resulted in a valuation of $10 billion. The valuation of KuCoin far exceeds the $1 million required for unicorn status. It is currently in the category of decacorn. It joins an ultra-elite class of companies that achieve this insane level of success.
17. KuCoin is picking up new users exponentially
KuCoin operates in more than two hundred countries and regions with its large arsenal of cryptocurrency investment options. The company continues to expand its portfolio of crypto wallets and offers more for its users consistently. The company has earned the trust and registration of more than eighteen million users throughout the world. Although there were many negative reviews, it continues to add to its solid customer base. It is an attractive investment opportunity because of its wide choice of options. It allows P2P services for the conversion of flat currencies to digital assets with a high level of security and the lowest investment fees.
18. KuCoin has a large workforce
KuCoin has a large workforce of 619 employees, according to LinkedIn. The cryptocurrency exchange company is currently advertising six new job openings at the firm. The positions are in Malaysia and Singapore. Some of them are on-site positions while others are hybrid, offering both remote and office responsibilities. KuCoin is hiring a customer service officer, an office administrator, a senior finance manager, a network engineer, an assistant manager of talent acquisition, and a cashier specialist. the company does not list the pay ranges for the positions, so it’s difficult to tell how competitive the wages are for new hires.
19. The turnover rate is high at KuCoin
KuCoin lists insights on its workforce that show an impressive pattern of growth in the size of the workforce. In June 2020, KuCoin employed 309 workers. The number rose to 398 by June of 2021 with a 28 percent increase in the headcount within six months. The total number of employees is now at 619, showing that it has doubled between June 2020 and June 2022. The median tenure of workers is not very long. The average time that workers spend on the job before moving to new opportunities is 1.3 years.
20. KuCoin has two founders
Johnny Lyu is not only the CEO of KuCoin, but he is also a co-founder of the company. He and his partner Kent Li founded KuCoin in a joint effort. Mr. Li is the director of operation and maintenance. Kent Lli attended the Nanyang Technological University in Singapore. He and Johnny Lyu have been partners and co-workers at KuCoin Exchange for five years and 6 months as of June 2022. They’ve achieved massive success with their company which has a valuation of ten billion. They’re wealthy young entrepreneurs and owners of a company that is just beginning to realize its potential.