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From a 7-Particular person Workforce to eight Million Customers Worldwide

The 4th anniversary marks a particular second for KuCoin. They’ve not too long ago claimed at TechCrunch Disrupt 2021 that it intends to be the primary and largest social buying and selling platform within the crypto sector.

This couldn’t occur with out the preliminary 7-person workforce discovering a approach to spearhead crypto adoption in 2013. Little did they know, KuCoin would develop into a world enterprise with over 600 staff and serve 8 million customers in 207 nations.

KuCoin began solely as a spot-crypto buying and selling platform. It’s now morphed right into a massively wealthy crypto ecosystem on account of onboarding industry-standard companies equivalent to KuCoin Highlight, KuCoin Futures, KuCoin Buying and selling Bots, KuCoin Pool, KuCoin Labs, and extra.

This progress has led to $500 billion collected in buying and selling quantity and over 800 million transactions.

How it began

KuCoin founder, Michael Gan was a tech professional for Alibaba Group’s Ant Monetary. He first heard about Bitcoin when it was solely $6 from his boss (and now co-founder), Eric Tang. Michael did what most individuals do after they acknowledge Bitcoin’s future potential – mine.

After stacking BTCs, Michael determined to promote some on Mt.Gox because it had probably the most liquidity. He instantly seen how difficult the platform was for newcomers and the way it could be an issue for mass adoption. He subconsciously understood that blockchain tech can solely change the world if the world is aware of tips on how to use it.

Michael and his pals noticed their authentic ideas on blockchain’s future materialize as cryptocurrencies grew extra widespread.

It drove them to think about concepts that will play an important function in worldwide adoption and set up themselves in crypto historical past. This sparked the thought of a user-friendly alternate platform anybody can entry.

Whereas most individuals had their eyes on the Mayan calendar in 2012, the KuCoin dream workforce was forming via pals and acquaintances that shared the identical ardour for blockchain know-how and cryptocurrencies.

By the tip of 2013, KuCoin had its “hiya world” second because the workforce wrote down the primary bits of code in a restaurant. They by no means appeared again, and the remainder is historical past.

The ICO Period: KuCoin’s make or break second

Michael and his workforce paid sturdy consideration to the ICO market in mid-2017 as tasks have been failing from all instructions, and a few have been apparent scams. They noticed the chance to assist the group not fall into ICO traps, and it began with a shift of identification.

KuCoin not noticed itself as a primary buying and selling alternate. It determined to be the ‘Folks’s Change’ as a substitute.

They did this through the use of their platform “to seek out the very best tasks obtainable and the ‘hidden gems’ of the crypto-world for our customers.”

This was a dangerous resolution as KuCoin’s status was on the road. Directing customers to the incorrect tasks can harm an alternate indefinitely. Particularly throughout an adoption wave.

From that second ahead, it’s been nothing however all-time highs for KuCoin.

Michael could have began his crypto journey mining Bitcoin, however now, he and his workforce give miners a cause to see long-term worth in crypto.

In November 2018, KuCoin accomplished a $20 million Series A financing from IDG Capital and Matrix Companions. It’s price noting that IDG can be an early investor of acclaimed crypto exchanges like Coinbase and Liquid. These funds additionally helped KuCoin proceed to enhance its platform’s stability, security, and ease of use. Culminating in better worth for its customers.

KuCoin increased its consumer base by an enormous 1144% this yr and tripled the variety of feminine merchants on their platform. Feminine merchants at the moment are 38% of customers.

GameFi (the play-to-earn NFT {industry}) is booming and KuCoin took lead by creating the primary buying and selling board for metaverse tokens.

KuCoin additionally outperformed Deribit and approached BitMEX in derivatives buying and selling volumes.

So, what’s subsequent for KuCoin in 2022?

KuCoin CEO reveals all

Present CEO, Johnny Lyu discussed KuCoin’s roadmap for 2021-2023 early this yr. It confirms their plans to improve their present methods and deploy extra high quality companies.

Within the 1st quarter of 2022, KuCoin can be launching a 3.0 model of its pockets custody system. Within the subsequent quarter, KuCoin Matching Engine 3.0 will go reside — it will additional improve the pace and effectivity of customers putting trades.

The final two quarters consider enhancing their futures buying and selling system and reaching metrics equivalent to 25 million worldwide customers, over one million Twitter followers, and for his or her day by day quantity to cross $15 billion.

Regardless of their listed targets, KuCoin’s intentions haven’t modified that a lot. They’re nonetheless targeted on discovering the following crypto gems, aiming to be probably the most outstanding altcoin alternate. However now, they’re additionally absolutely dedicated to elevating the worth of KCS (KuCoin Token) to the purpose it reaches the highest 30 in market capitalization.

This implies they’ll be looking out for the following finest developments within the NFT and DeFi house.

One other attention-grabbing aim KuCoin plan to attain is reworking right into a social buying and selling platform, which remains to be clean within the crypto {industry}. At the moment, most exchanges concentrate on constructing a greater buying and selling device, whereas KuCoin recognized crypto traders’ wants past buying and selling.

This can be completed via the launch of a lot of new social options later this yr. This can permit customers to higher perceive and commerce crypto on KuCoin and discover international traders who share the identical curiosity. By the knowledge and interplay companies offered by the platform, even a newcomer could have a much bigger likelihood to win.

KuCoin is efficiently turning the crypto mass adoption marathon right into a dash.

Their exponential progress, current additions, and bullish plans confirm this.

The crypto house is changing into extra attention-grabbing by the day as there’s at all times one thing new that may probably change the world. KuCoin goals to be instantly concerned in what crypto affords the folks subsequent.

KuCoin isn’t just placing themselves on the forefront of the crypto rollercoaster, they’re guaranteeing the trip by no means ends.

 

 

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