Business 18 January 2018Jasmine Solana
KuCoin rolls out Bitcoin BCH trading pairs
Hong Kong-based exchange KuCoin has added Bitcoin Cash (BCH) trading pairs to its market, in a bid to provide a diverse platform that allows its users to trade with more flexibility.
The BCH pairs began trading on Jan. 17, 2018, at 22:00 UTC+8, according to the announcement on the exchange’s website. KuCoin’s traders can now trade BCH with the other cryptocurrencies listed on the exchange, including Kucoin Shares (KCS), which is the Ethereum-based token issued by KuCoin cryptocurrency exchange platform.
Founded in 2017 by CEO Michael Gan, a former technical expert of Alibaba Group’s Ant Financial, KuCoin is led by a team of blockchain enthusiasts who wants to provide users “digital asset transaction and exchange services which are even [safer] and convenient, integrating premium assets worldwide, and constructing state of the art transaction platform.”
To celebrate the addition of BCH trading pairs to its platform, KuCoin also launched “trading competitions,” one of which promises to reward the top 100 traders who will be ranked “in terms of the total BCH trading pairs volume traded” on their accounts, including buys and sells.
KuCoin said they will also reward among the top 100 traders several “lucky winners with ranking rewards that include the digit ‘8’”.
For KCS holders, the exchange said they will give out a total of 490,000 KCS tokens as a special bonus for trading BCH. The rewards are based on the amount of KCS holding during the activities, and will be equally divided between all users holding KCS and in proportion to the total amount of KCS each user holds and total volume of BCH traded, according to KuCoin.
KuCoin joins the growing list of exchanges that are making Bitcoin Cash, the true remaining Bitcoin as envisioned by the Satoshi Nakamoto whitepaper, the base cryptocurrency against which other cryptocurrencies are measured. Early this week, Hong Kong-based exchange CoinEx announced that all of its transactions are now “BCH-priced,” meaning all of the other cryptocurrencies that the platform offers are based and paired with Bitcoin Cash.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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