An Overview Of Staking On Kucoin Exchange

The world of cryptocurrency has grown at an exponential rate in the last few years. Now, there are more than 21,000 different cryptocurrencies available on the market, and new ones are added every day. Unfortunately, they all can’t be traded in one platform, which makes it hard to keep track of the complete market.

What is Kucoin Exchange?

KuCoin is one of the leading cryptocurrency exchanges, offering a huge selection of some of the biggest cryptocurrencies in the world, with a wide range of payment options. It offers plenty of great opportunities for users to earn passive income by holding KCS tokens in their accounts and getting dividends from trading fees earned by the platform. 

Kucoin caters a wide variety of coins including BTC, ETH, ADA, XRP, LUNA and more. It’s easy to use interface showcases a lot of information such as top gainers and trading prices like Luna 2.0 live price and other crypto coins. 

KuCoin uses a unique reward system where it will give 50% of its trading fees to users who hold KCS in their account, this is called the KuCoin Bonus. The more KCS you hold, the higher your bonus level and thus the larger your share of trading fees. If you decide to buy KCS, keep in mind that there is no maximum limit for how much you can earn using this system.

KuCoin also has its own mining pool where you can mine a variety of coins like Bitcoin. You can choose to mine on the KuCoin exchange or simply use a bitcoin mining pool as an alternative way to deposit funds into your account. Mining is an important part of blockchain technology that ensures network security by using cryptography to generate blocks of valid transactions distributed among all nodes in the network.

Define Staking

Staking is a way to passively earn cryptocurrency by delegating your crypto to a network. It’s kind of like a dividend, which you gain because you own a share of the currency. If you buy into the KuCoin exchange, you can choose to stake certain coins that are rewarded based on how much you have invested in them. 

The great thing about staking is that it requires no additional time or effort, so it’s a great way to earn more money passively. In this article, we’ll go over what staking is and how it works, as well as some tips for staking on the KuCoin exchange.

How To Stake on Kucoin Exchange

Staking on KuCoin or any other exchange requires following a few simple steps. You will need to do the following:

Register

Create an account on the cryptocurrency exchange website you want to stake. Look for this option in your account settings.

Sign up for an account on www.kucoin.com using your email address and a secure password. You will receive an email verification link where you need to confirm the account creation by clicking on the link provided in the email.

After confirming your email address you need to verify your identity. And finally you can deposit funds into a KuCoin account, there are several options available depending on what payment methods you want to use.

Setting up 2-factor authentication

KuCoin provides 2-factor authentication or 2FA as an added security measure to help protect your account from unauthorized access. Once you have logged in, click the gear icon in the top right corner and select “User Center” then “Two-Factor Authentication” to continue.

Deposit

After that, you can move onto the next screen, which is the deposit screen. Here, you will see a list of all the coins that KuCoin offers. Click on the coin of your choice and it will take you to a page where there is a BTC link at the top.

Click on that link and it will take you to their BTC deposit address page. Copy that address (it’s long and random looking) and then go back to your coin’s page on KuCoin by clicking “Back” in your browser.

Fund your exchange wallet

After you have set up 2FA, you will be able to deposit crypto assets into your KuCoin wallet. To begin adding funds, go to the top right menu where it says Balance and click Deposit on the left-hand side of the screen. You can now choose between Bitcoin, Ethereum and Litecoin, as well as USDT (Tether), OKB (KuCoin Shares) and KCS (KuCoin’s own token).

Once you have some funds in your KuCoin wallet, go ahead and click “Assets.” You’ll then see the option to start staking your KCS tokens. Click on “Start” and then select “Allocate” so that you can select how many coins you’d like to stake. Afterward, enter in the number of KCS tokens you’d like to allocate toward staking. Once that’s done, click “Submit” and then select “Confirm.”

What is Kucoin Staking Pool?

Kucoin has recently released a new feature called Kucoin staking pool. This means, users who store their KCS on the exchange for a specified amount of time can gain daily rewards from the exchange. For example, if you have 500 KCS and store them in the staking pool for a month, you will earn 2% of your 500 KCS as a reward each day.

The amount that you earn depends on how many KCS you stake and how long you stake them. If you want to do this, you need to first buy some KCS on KuCoin in order to be able to participate in the staking pool.