This article will teach you how to make passive income on the KuCoin Exchange.
Passive income is fantastic. It allows you to earn money without having to perform much labor. Passive income is also more reliable than regular income and less dangerous than other investments such as stocks. Passive income allows you to pay your bills and support yourself without having to work a regular job. However, passive income might be difficult to come by for many people. There are a few techniques to generate passive income, but some are better than others. KuCoin is one of the best ways to generate passive income.
KuCoin is a cryptocurrency exchange that began operations in September of 2017. In 2018, IDG Capital and Matrix Partners led a $20 million investment round for the platform. The company grew steadily in the years that followed, raising $150 million at a $10 billion valuation in 2022. Today, this Seychelles-based exchange serves more than 10 million cryptocurrency dealers from 207 countries and territories throughout the world, including spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending.
KuCoin enables users to generate passive revenue while also earning a variety of additional benefits. In addition, if you pay with KuCoin, you will receive a 20% reduction in trading costs. Consider storing your coin on the KuCoin exchange and earning interest on it. Another intriguing point is that KCS is limited in quantity. As a result of scarcity, the value is likely to rise.
With over 700 assets and 1,200 trade pairings, KuCoin is the most popular altcoin exchange.
KuCoin is a top 5 cryptocurrency exchange according to CoinMarketCap and CoinGecko. KuCoin has been selected as one of the Best Crypto Exchanges for 2021 by Forbes Advisor. KuCoin was named Best Crypto Exchanges and Apps by The Ascent, a Motley Fool service, in 2022.
What Exactly Is Passive Income?
The term “passive income” refers to the ability to generate money that is not directly related to the number of hours you work. Instead, passive income allows you to earn money while sleeping or without actively working on a project. It is the inverse of hourly pay.
Passive income is a critical component of wealth creation. In terms of passive income with crypto and KuCoin, we will concentrate on how users can profit from dormant crypto assets and through outside promotions.
In such a volatile time for the cryptocurrency market, it assists investors in earning a steady income and is not necessarily challenging. In reality, it is among the simplest ways for anyone new to cryptocurrency to get started.
Why Should You Earn Passive Income With KuCoin?
KuCoin is a fantastic way to passively generate income. In the world of cryptocurrencies, there are many different ways to generate passive income.
On the KuCoin platform, lending is the most widely used type of passive revenue. Even those digital assets that are uncommon on other crypto lending platforms are supported for lending on KuCoin at the moment, numbering about 90. So far, traders’ preferred lending currency has been the USDT. Along with meme coins like SHIB, these currencies also contain more well-known coins like ETH and SOL.
On KuCoin, lenders have the choice between Manual Lend and Auto-Lend. Your preference and grasp of how it functions will determine which option you choose.
Fast loan payback is one problem with lending. This specifically occurs when someone borrows money for a while and pays it back considerably faster. The Manual lend option is not suited in these circumstances because the earning time is short.
On the other hand, the Auto-Lend feature makes sure that the crypto asset of your choice is always ready for a loan. To ensure that their rate has been accepted so that the loan may be executed, users must establish the daily interest rate and check periodically. The loan terms range from seven to twenty-four days.
The native token of KuCoin, known as KCS, was introduced in 2017.
Users are eligible for the KCS bonus plan if they have at least 6 KCS in their KuCoin accounts. The KCS bonus scheme is a daily bonus that is funded by 50% of the fees for the KuCoin trading platform.
With regard to KuCoin trading costs, the KCS bonus plan distributes growth and profits to native KCS holders. The KCS bonus makes this possible every day.
To be eligible for the KCS bonus, you must have at least 6 KCS in your KuCoin account. You must also complete verification and configure the Google Authenticator app.
Additionally, KCS will serve as the fuel for the KCC public chain, which supporters of KuCoin and KCS have developed. As more KCC ecosystem use cases, such as the DEX, NFTs, and others, develop, it is anticipated that KCS will increase in intrinsic value.
KuCoin Earn is a user-friendly site that provides a wide range of passive income products. Depending on his needs, expectations, and risk tolerance, each user can choose between savings, staking, promotion products, and BurningDrop, KuCoin’s token distribution platform.
While preserving a high level of flexibility and asset liquidity, the platform provides competitive yields. More than 50 different currencies and tokens are supported, including BTC, USDT, USDC, ETH, ATOM, SOL, KSM, ZIL, and more. Additionally, the native POL coin of the platform enables special functions and can generate extra cash in the form of mining rewards.
A trading bot is a piece of software that automatically buys and sells cryptocurrency when it’s profitable to do so. In essence, it is a 24/7 automated trader that functions similarly to a human trader.
On KuCoin, it is feasible to build such a trading bot. It is undoubtedly possible to generate passive income using a trusted trading bot, despite the fact that there are numerous tactics that may be utilized and the market can, of course, be volatile.
The Trading Bot is not a reward program or a profit-generating financial product. It is, rather, a tool that can help you earn more money through KuCoin. It is a new tool that can assist any user in trading more successfully and financially.
KuCoin Affiliate Program
The KuCoin affiliate program allows for passive income. By referring users to a platform using your code, you generate an affiliate account. You will receive a portion of the trading commissions they pay if they decide to start trading. In general, your earnings increase as more people sign up. Naturally, this depends on a number of variables, such as the trading volume produced by the users you have registered. Undoubtedly, this is a technique to get passive income.
You can earn up to 40% in trading fees as commission for each referral that trades with KuCoin.
Have you yet to sign up for KuCoin? You’re missing a lot of cryptocurrency opportunities. Click HERE to join!
More information on earning passive income through the KuCoin exchange can be found HERE.
Passive income can help investors who don’t want to monitor their portfolio constantly earn interest steadily, but no investment comes without risk. Therefore, before plunging headfirst into deep waters, please conduct your own research into each option. Additionally, remember that practice makes perfect. You’re more likely to have long-term success and a steady stream of income if you gain more practical experience.
Lending, trading using a micro-bot, and promoting the KuCoin affiliate exchange are all passive income opportunities. Many users have made a sizable profit using the KuCoin exchange.
Keep an eye on the KuCoin Blog for more interesting and useful educational resources. Best wishes!