The number of KuCoin users grew 26% year over year to 29 million.
In the last six months, the exchange has introduced mandatory KYC verification.
KuCoin, the people’s exchange, proudly announces its achievements in the first half of 2023 (first half of 2023). During these six months, the cryptocurrency platform has shown exceptional growth and innovation in the face of challenging market conditions.
Despite the fluctuations in the cryptocurrency market KuCoin continued strong growth and proactively adopted regulatory requirements to improve user experience and trust.
KuCoin’s achievements in the first half of 2023
Impressive expansion of user base and steady increase in trading volume
The customer base grew by 26% compared to the previous year and reached 29 million registered users in June 2023Most of them are from Latin America. Trading volume on the spot and futures markets reached $1 trillion, driven by growth in different regions.
KuCoin Trading Bot saw significant growth: in the first half of 2023, 12 million bots were created and the trading volume exceeded 5.7 billion USDT.
protection and safety
At KuCoin, the security and protection of customer assets have a high priority. The exchange has implemented extensive security measures to ensure the protection of sensitive data and user funds. This includes encryption algorithms, multi-factor authentication for all accounts, and storing client funds in cold wallets for added security.
In addition, KuCoin launched the largest Bug Bounty Program in collaboration with the cyber security company Hacken von 1 million dollars. This further underscores the platform’s commitment to maintaining a secure trading environment. Meanwhile, the exchange is implementing KYC verification (know your customer) required to improve security and promote a safer business environment.
trust and transparency
KuCoin continues to promote trust and transparency by publishing proof of reserve. The company is responsible for regularly updating this information to ensure that users fully support their funds.
The latest update from June 30, 2023 reveals it a Bitcoin (BTC) reserve rate of 104%, an ether (ETH) reserve ratio of 115%, a tether (USDT) reserve ratio of 105%, and a USD coin (USDC) reserve ratio of 114%. This data confirms KuCoin’s commitment to maintaining a high collateralization ratio.
The platform recruited more than 300 new members to its team around the world, fostering closer collaboration with the global crypto community. Sharing communities and social media presence grew 20% user interaction and 2.5 million followers on Twitter.
“In the first half of 2023, KuCoin has shown exceptional commitment to innovation, trust and customer satisfaction. We pride ourselves on excellent customer support and are successfully answering more than 300,000 user queries by harnessing the power of an AI-powered chatbot. Trust and transparency form the basis of KuCoin’s values. This is evidenced by our strict anti-fraud measures and the regular release of proof-of-reserve data, giving our users peace of mind that their assets are safely protected.
Our commitment to continued progress is demonstrated by the addition of 89 new assets, the notable expansion of the KuCoin Trading Bot, and the upcoming launch of KuCoin Learn, a must-have resource for cryptocurrency enthusiasts. Going forward, KuCoin remains committed to empowering our users and fostering the growth of a thriving crypto ecosystem for generations to come.”
Johnny Lyu, CEO of KuCoin
To access the full KuCoin report, click Here.
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