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4 Years of KuCoin: From a 7-Particular person Workforce to eight Million Customers Worldwide

09/30/2021

The 4th anniversary marks a particular second for KuCoin. They’ve lately 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 method 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 international locations.

KuCoin began solely as a spot-crypto buying and selling platform. It’s now morphed right into a massively wealthy crypto ecosystem as a result 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 amassed in buying and selling quantity and over 800 million transactions.

How it began

KuCoin founder, Michael Gan was a tech skilled 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 observed how difficult the platform was for newcomers and the way it might be an issue for mass adoption. He subconsciously understood that blockchain tech can solely change the world if the world is aware of find out how to use it.

Michael and his associates noticed their unique ideas on blockchain’s future materialize as cryptocurrencies grew extra in style.

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

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

By the top 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 regarded 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 neighborhood not fall into ICO traps, and it began with a shift of id.

KuCoin not noticed itself as a primary buying and selling change. It determined to be the ‘Individuals’s Trade’ as an alternative.

They did this by utilizing their platform “to search out the very best tasks out there and the ‘hidden gems’ of the crypto-world for our customers.”

This was a dangerous determination as KuCoin’s popularity was on the road. Directing customers to the improper tasks can injury an change indefinitely. Particularly throughout an adoption wave.

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

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

In November 2018, KuCoin accomplished a $20 million Collection A financing from IDG Capital and Matrix Companions. It’s value 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 elevated its person base by a large 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 mentioned KuCoin’s roadmap for 2021-2023 early this yr. It confirms their plans to improve their present programs and deploy extra high quality companies.

Within the 1st quarter of 2022, KuCoin shall be launching a 3.0 model of its pockets custody system. Within the subsequent quarter, KuCoin Matching Engine 3.0 will go dwell — this can additional enhance the pace and effectivity of customers inserting trades.

The final two quarters think about 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 move $15 billion.

Regardless of their listed goals, KuCoin’s intentions haven’t modified that a lot. They’re nonetheless centered on discovering the subsequent crypto gems, aiming to be probably the most distinguished altcoin change. 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 subsequent 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 continues to be clean within the crypto {industry}. At present, most exchanges give attention to constructing a greater buying and selling device, whereas KuCoin recognized crypto buyers’ wants past buying and selling.

This shall be achieved via the launch of a number of new social options later this yr. It will enable customers to raised perceive and commerce crypto on KuCoin and discover world buyers who share the identical curiosity. By way of the data and interplay companies supplied by the platform, even a newcomer may have an even bigger probability to win.

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

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

The crypto house is turning into extra attention-grabbing by the day as there’s all the time one thing new that may doubtlessly change the world. KuCoin goals to be immediately 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 journey by no means ends.