By
Temitope Olatunji
April 26th, 2024
KuCoin said that early birds stand a chance to share a bonus prize pool worth around $5,000.
Cryptocurrency exchange KuCoin has entered into a strategic partnership with Revolut to offer seamless one-click digital asset purchases using euros. In an official announcement on Wednesday, KuCoin stated that users can now buy various digital assets listed on the platform directly through Revolut Pay.
The exchange currently supports a range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Avalanche (AVAX), Polkadot (DOT), Fantom (FTM), Ripple’s XRP, Monero (XMR), Chainlink (LINK), and its native token (KCS). Additionally, KuCoin added support for meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
KuCoin to Reward Early Birds
However, the firm said that users will need to complete their Know-Your-Customer (KYC) verification before using the new service.
The company plans to offer zero percent transaction fees to the first 200 people who complete their KYC registration and use their personal Revolut Pay account to purchase any of the available cryptocurrencies.
Additionally, KuCoin said that early birds stand a chance to share a bonus prize pool worth around $5,000. The offer is exclusively for KuCoin customers residing in the European Economic Area (EEA).
“To celebrate this, the first 2,000 orders will get to enjoy 0% transaction fees (cash back) and share a bonus prize pool worth $5,000,” the company said.
KuCoin Launches Zero Fee Trading Event for All Users
KuCoin, like several other crypto exchanges, faced legal challenges in the United States for violating federal laws. However, the company reached a settlement in December last year, agreeing to pay a fine of approximately $22 million. As part of the settlement, KuCoin decided to withdraw from the US market.
Despite ceasing its operations in New York, KuCoin remains a leading digital asset trading platform globally, boasting over 31 million users as of December 2023.
The exchange is reportedly conducting another zero-fee trading event for its BTC and Ether pairs after the last one in 2022. This event aims to enhance the trading experience by suspending the usual fee discounts, affiliate rebates, and other offers for the duration of the event. Furthermore, trading volumes from these pairs will not be considered for Rewards Hub or VIP fee level calculations.
During this event, KuCoin will extend an opportunity for users to acquire 100% Fee Rebate Vouchers, enabling them to deploy grid bot strategies without any fee implications. These vouchers are restricted to one claim per user per day and are accessible on a first-come, first-served basis, with a total pool of 1,000,000 USDT in Fee Rebate Vouchers.
The move aims to promote the adoption of automated trading strategies while ensuring equitable access to fee rebates.
The exchange plans to also conduct thorough reviews to detect and disqualify any artificial inflation of trading volumes.
Activities such as using multiple accounts by the same entities, engaging in coordinated trading to artificially inflate volume, and any other malicious behavior aimed at manipulating event outcomes are prohibited during the event.