KuCoin Reduces Minimum Withdrawal Amount

KuCoin announced that the minimum withdrawal amount for VEN token has been reduced at the users request
12 April 2018   612

On April 12 KuCoin cryptocurrency exchange announced that the minimum withdrawal amount for a very popular VeChain token has been reduced from 50 down to 10. That was done because of multiple requests of users who were asking for the minimum amount to be reduced in order to make the trading on the platform more convenient.

VeChain withdrawals from KuCoinVeChain withdrawals from KuCoin

Judging by the users' reaction to the announcement on Twitter, the news was not really welcomed warmly by the community, as a lot of people were excpecting also the withdrawal fee to be reduced. Previously, we have reported that KuCoin exchange temporarily disabled Bitcoin Private withdrawals due to some technical issues with BTCP wallets.

At the moment of press, these are main market parameters of VeChain:

  • Average Price: $3,16
  • Market Cap: $1 659 025 218
  • 24h Vol: $84 745 600

Kucoin to sent Unefficient Tokens for a Timeout

Kucoin exchange has devised a new method of dealing with underperforming tokens: inspite of being delisted, the tokens will be sent to a “special treatment area”
04 May 2018   304

Once placed on the token equivalent of the naughty step, they will be given an  opportunity to buck up or risk being permanently removed. Cryptocurrency that display a low trading volume can expect placement in a special treatment (ST) area by Kucoin.

As well as tokens whose team run into legal difficulties or go AWOL. It’s the first step towards delisting, though assets will get a chance to earn a reprieve. Coins that are moved to the ST zone will have a special mark giving the traders notice that there’s a risk of removal.

Kucoin’s new policy has been supported by many traders, as it adds transparency and provides warning of assets that can be purged. A number of exchanges delist coins at short notice and with little or no explanation. 

Kucoin named 8 reasons why a token may be moved to ST area. Among them:
1. Negative Trading Volume for some period of time.
2. Stop of business activities for 3 months.
3. In liquidation, insolvent, bankrupt or otherwise subject or in a position to become subject to bankruptcy proceedings.
4. Negative views by the company auditor.
5. Inability to submit the updates reports in accordance with the requirements of the Exchange in terms of project development, status of the team and status of listing entity for a consecutive certain period of time.
6. The team of the project is seemed to be fired.
7. Any act supposed as malicious operation to the market.
8. Any other situation as determinate by the Exchange from time to time.

During the resent few months Kucoin is being adding tokens faster than any other major exchange. It is probably caused by the platform’s willingness to accept virtually any token that it now finds itself having to remove the worst performers.