Key takeaways:
- With over 700 supported cryptocurrencies and over 10 million users, KuCoin is among the top 5 crypto trading platforms
- The exchange’s native financial products platform – KuCoin Earn offers a wide range of passive income opportunities such as earning yield through flexible savings, staking, and various promotion products
- KuCoin Earn supports over 50 coins and boasts with APRs of up to 150%
KuCoin is a cryptocurrency exchange that launched in September 2017. In 2018, the platform secured $20 million in Round A funding round led by IDG Capital and Matrix Partners. The company saw continued growth in the following years, and raised $150 million at a valuation of $10 billion in 2022. Today, this Seychelles-headquartered exchange caters the needs of more than 10 million crypto traders from 207 countries and regions around the world.
KuCoin is among the top 5 cryptocurrency exchanges
Over 700 supported digital assets and over 1,200 trading pairs make KuCoin one of the biggest altcoin exchanges, while the platform’s trading volumes place KuCoin among the top 5 most popular crypto exchanges. This centralized exchange offers product ranging from spot trading and margin trading all the way to P2P fiat trading, futures trading, staking, and lending.
The KuCoin exchange is secure, simple, and easy-to-use, which is why the platform is sometimes referred to as the “people’s exchange”.
What is KuCoin Earn?
KuCoin Earn is KuCoin’s native one-stop wealth management service that allows users to earn passive income on top of their crypto holdings by locking their crypto assets in various savings and staking deals. KuCoin Earn currently supports over 50 coins and tokens.
KuCoin Earn Products
KuCoin offers both flexible deals, where users can redeem their funds at any time, as well as products with fixed terms, which means that the funds are redeemed automatically at the product’s maturity. As on other platforms, the yields of fixed term products are usually higher than that of flexible term products.
The highest APRs, however, are offered on promotional products, which are usually quickly sold out because of their high popularity and limited availability. In addition, KuCoin Earn also allows users to participate in Polkadot parachain auctions and ETH2.0 staking.
Savings Products
KuCoin Earn savings products are like a savings account for your crypto assets. These products allow investors to move their crypto assets to flexible or fixed savings products and earn rewards on crypto that would have otherwise been idle.
At the time of writing, KuCoin offers a 2.87% APR on USDT deposits with a flexible term. The platform also offers a 6% APR on KSM deposits, 10% APR on OLT, 20% APR on DFI and an astonishing high 45% APR on HYDRA deposits. Please note that the rewards are paid out in the same token that’s deposited.
Staking Products
KuCoin also facilitates easy one-click staking of coins and tokens. Naturally, the staking products are only offered for coins and tokens belonging to proof-of-stake blockchains. Again, the highest APR of 47.17% is offered for staking HYDRA. Other APRs are as follows: XPRT (27.44%), ZIL (11.17%), KSM (10.26%), VSYS (8.17%), ATOM and DOT (both 7.44%). KuCoin earn also supports staking for coins like MATIC, TRX and ADA.
Promotions
Exceptionally high APRs are offered through promotions, but the number of participants or rewards to be distributed among them is usually capped. These products are available on a first come, first served basis, and the ones with the most lucrative rewards are often sold out quickly. KuCoin offers both fixed term promotions, where token holders must lock their tokens for the displayed duration to get rewards, and flexible term promotions, where tokens can be subscribed and redeemed at any time.
At the time of writing, there are 3 available flexible terms promotions offering an APR of over 50% and 9 flexible terms promotions with an APR of over 30%.
BurningDrop Token Distribution Platform
BurningDrop is KuCoin’s fair token distribution platform, where users can lock their crypto assets to access a share of tokens, usually belonging to a newly launched project or blockchain. After locking up their crypto assets, participants can additionally increase their end reward by burning KuCoin Earn’s native Proof of Liquidity (POL) tokens.
Several blockchain start-ups have already successfully distributed their tokens through KuCoin’s BurningDrop. In the past HORD, TCP, LOCG, LNCHX and XCAD were distributed, while there is an ongoing FreshCut (FCD) distribution at the time of writing.
Polkadot Parachain Auctions
KuCoin Earn also allows DOT holders to participate in Polkadot’s parachain auctions. If the project to which a user allocates his DOT stake wins the auction, the user receives on-chain rewards plus a share of the exclusive KuCoin Rewards Pool, while the staked DOT are gradually returned after the lease period. However, if the project fails to win the parachain auction, the user will receive their full DOT stake back immediately.
ETH 2.0 Staking
As Ethereum 2.0 staking went live in November 2020 many centralized cryptocurrency exchanges offered an easier way to stake on the new Ethereum chain secured by the proof-of-stake consensus.
KuCoin is no exception, as it offers an ETH 2.0 staking service which allows users to earn staking ewards on their ETH. The feature makes Ethereum staking much more accessible, since “solo staking” ETH requires a lot of capital upfront (32 ETH) and technical knowledge.
Users that stake their ETH on KuCoin Earn receive an equal amount of ETH2 tokens, which are issued by KuCoin and represent the rights to an ETH 2.0 token plus the corresponding staking rewards. By holding specific amounts of ETH2 in their main and trading accounts, ETH stakers can earn additional POL mining rewards on top of ETH staking rewards.
The advantages of using KuCoin Earn
KuCoin Earn helps you boost your earnings by receiving savings and staking rewards on crypto assets that would otherwise sit idle on your trading account. All assets held in Earn products also count towards the POL mining power, for which you receive some extra income in the form of the POL token. In addition, the suite of products on KuCoin Earn is extremely diverse and flexible. If you subscribe to flexible products, you will be able to immediately withdraw your coins at any time, should the need arise.
The bottom line
KuCoin Earn is an easy-to-use platform that offers a wide variety of passive income products. Every user can pick between savings, staking, promotion products and BurningDrop – KuCoin’s token distribution platform based on his needs, expectations, and risk tolerance.
The platform offers competitive yields while maintaining high flexibility and asset liquidity. It supports over 50 coins and tokens, including BTC, USDT, USDC, ETH, ATOM, SOL, KSM, ZIL and more. Furthermore, the platform’s native POL token enables unique features and can provide additional income in the form of mining rewards.
