KuCoin AMA with KuCoin Futures - Exceeds 3 Million Users on Its Second Anniversary
Dear KuCoin Users,
Time: August 20, 2021, 12:00-13:06 (UTC)
Introduction to KuCoin Futures
Firstly launched in August 2019, KuCoin Futures is a cryptocurrency derivatives trading platform developed and backed up by the KuCoin Futures team that offers various leveraged Futures. Besides, KuCoin Futures has insisted on taking the tech as its backbone and building a better trader relationship while constantly pushing for the sustainable development of the digital currency trading ecosystem as the ultimate goal.
This platform focuses on Futures trading and has a full-fledged web and mobile app version with over 3 million registered users in two years. With support for 13 languages and a Lite version to help new users get started with Futures Trading, KuCoin Futures provides both USDT-Margined and COIN-Margined Contracts, with Perpetual and Delivery Futures available to promote exposure diversification.
Official Website: https://futures.kucoin.com
Einar Zhang — Head of KuCoin Futures
Einar has more than 10 years of experience in Fintech architecture, microservice, high concurrency, and high availability.
The KuCoin Futures team is made up of passionate and energetic people coming from professional backgrounds. The team has been upholding the principle of 'Traders First' in the vigorous development of their platform, insistent on growing together and moving forward with their users to deliver an excellent trading experience as their mission.
Q&A from Questions Collected for KuCoin Futures
On August 17, 2021, we invited the KuCoin Community to send their questions about KuCoin Futures in advance for this special AMA session.
Einar: Hi everyone, nice to e-meet you here!
It's my great pleasure to be here in our KuCoin Exchange community!
Question #1 from @Jasondayday:
I believe that many users, like me, would like to know about the development of KuCoin Futures over the past 2 years. Would you like to share it with us?
Einar: No problem!
Now, I'll share with you the history and achievements of KuCoin Futures over the past two years!
Along the way, KuCoin Futures has always adhered to the value of "user-centered and co-development with users" and continues to grow with the support of users.
From the launch of our platform in August 2019 to becoming one of the top 10 Futures trading platforms in the world; from the launch of the first Bitcoin perpetual contract to supporting over 60 contracts now; from website only to realize the full coverage of all sides after the launch on the app, now the total number of registered users on KuCoin Futures has exceeded 3 million.
In terms of the trading volume, we are also happy to see that the USDT-Margined contract continues its excellent performance from last year and remains the most popular contract product of the year, with a 6-7 times increase in trading volume compared to the previous year.
In terms of our user growth, the number of KuCoin Futures users increased by 260% compared to last year, and the open interests (namely, OI) have increased by 15 times compared to the previous year. We have achieved a significant expansion in the number of active users and user groups.
In the past two years, KuCoin Futures has successfully held over 50 events and awarded over $6 million worth of benefits to users in total.
The debut of Futures Brawl in August 2020 has been favored by over 200,000 users due to its game-like characteristics in Futures trading. We have also launched “Futures Bonus” this year to give out gifts from time to time to bring more benefits to our users.
We believe that behind these figures are not only the efforts of the KuCoin Futures team but also the recognition and dedication of all our users! We would like to thank all our users for their care and support of KuCoin Futures over the past two years!
Question #2 from @yasuosuo:
As you can see, KuCoin Futures has had a rapid development and breakthrough since its launch. So what is the key to the rapid growth of KuCoin Futures?
Einar: My answer is "users".
It is the user's suggestion that gives us the source of innovation, and it is also the user's encouragement that gives us the greatest boost for rapid development and the greatest motivation for continuous progress.
Over the past two years, we have been standing closely with our users because we believe that users are the ones who know the most about our products. From the launch to now, we have launched many innovative products and features, many of which are inspired by our users.
Since March 2021, we have released nearly 20 user surveys, collected suggestions from over 70,000 users, and adopted hundreds of valuable suggestions, which are being implemented by us one by one.
Users not only inspire us in product innovation but also encourage us to move forward with their support.
Seeing the encouragement and affirmation from users makes us realize that KuCoin Futures is not just a trading platform, but a stage where we can help our users achieve their dreams; seeing the support and trust from users makes us even more convinced that we are doing an amazing thing and together we will create an even bigger future.
Our team will continue to ensure a "secure and robust" Futures trading service platform and bring users a simple and fun trading experience!
Question #3 from @Casshern18:
In our call for questions, some users are concerned about planning position risk and newbie-friendly features. What does KuCoin Futures think about it?
Einar: Regarding risk control, I personally believe that any form of investment or trading is both rewarding and risky. All trading arises from ideas, and only by keeping learning can you effectively avoid risk and keep making profits.
Here are our “10 Principles for Futures Trading", which lists the most common mistakes and advice for newbies in contract trading, such as: “Never devote all of your assets”, “Avoid high leverage, it is never the right choice for a novice”, etc.
On the 2nd anniversary of KuCoin Futures, we have prepared a $200,000 Futures insurance pool, so if you lose money, we'll pay for it! We hope to protect you against the risk in your trading journey!
The recently launched "Feature Preference" supports setting the "Take profit &amp;amp; Stop loss When Placing Orders” and “Auto-Deposit Margin” to control your position risk in advance.
Our team will also pay close attention to the market movements to timely adjust the leverage, margin rate, and risk limits to protect our users’ rights and interests.
If you are a newbie, don't worry, we also have a "Lite” version of the trading interface, which is also very friendly to newcomers, just like the Futures Brawl.
We recommend newbies to start from "Futures Brawl" -> "Lite Trading" -> "Pro Trading". Together with continuous learning, I believe a novice will soon become a senior futures investor!
Question #4 from @CryptoRekt22:
As a global crypto-financial derivatives platform, how is KuCoin Futures planning to meet the needs of different investors?
Einar: In a recent interview with Bitcoin.com and Cointelegraph, our CEO Johnny emphasized: "The development of the financial derivatives has pointed an important direction for the future, and KuCoin will launch products suitable for people with different risk appetites, so they can better profit from the crypto market".
KuCoin Futures will align with the company's overall development strategy and layout, always putting users’ needs first and helping investors better profit from the crypto market.
As a global exchange, KuCoin Futures supports 13 mainstream languages facilitating global users on Futures trading. We have launched the industry's first Lite version of the Futures trading platform, which helps many novices experience Futures trading more easily.
To lower the threshold of Futures trading, we have launched various tutorials in comics, videos, etc., to help users get started faster. We’ve also provided a variety of advanced order types and support contracts of multi-cryptos to meet users’ different trading needs.
KuCoin Futures has carried with itself a great responsibility and belief along its every step of growth. We hope not only to benefit our users through our products and services but also to be a guarantee and solid backup for their rights and interests.
Our team will continue to serve global users with our hearts and grow together with them!
To thank every user for their continued support and love for us, on the 2nd anniversary of KuCoin Futures, we have prepared a 1-million-dollar worth prize pool that everyone can claim!
Question #5 from @lynn00400:
BTW, some users also ask about the development plan of KuCoin Futures. Can you brief us on that?
We will support more coins for our contracts, and the KCS contract is expected to go live in Q4 of 2021 to meet the investment needs of our growing number of users.
Other plans are as follows:
2021 Q4 – Release cross collaterals
2022 Q1 – Release contract portfolio
2022 Q3 – Release KuCoin Futures trading system 2.0
2022 Q3 – Release contract portfolio margin
To show our gratitude for your support over the last 2 years, we have prepared a million-dollar bonus, interesting activities, and exclusive gifts! The 2nd-anniversary celebration is underway. Click here to participate now!
Free-Ask from KuCoin Community
Q: I am a Spot trader in cryptocurrency, and my question is: why should I use KuCoin Futures products?
Einar: Compared to trading coins for coins in the Spot market, Futures trading is a more flexible investment tool that uses leverage to amplify the value of positions and potential returns on financial instruments. If you are a Spot trader, then contracts are also perfect for you. By having the flexibility to go LONG or SHORT, you can hedge your risk and arbitrage to improve the efficiency of your capital utilization.
Q: What are the advantages of KuCoin Futures compared to other platforms?
Einar: I think the main advantages are:
(1) The world's first Lite version: 30 seconds to register, 1 minute to learn Futures trading.
(2) The widest applicability: The world's first derivatives platform that supports Pro trading and Lite trading.
(3) The most interesting: Released the world's first Futures Brawl, making Futures trading more playable.
(4) More robust and secure: Adopting the leading intelligent index algorithm model, the index refers to the spot prices of 6 mainstream exchanges.
(5) Quality depth: One of the world's top 3 trading depths and experience.
Q: If I have any problems using KuCoin Futures, where can I find the customer service?
Einar: We have an exclusive Telegram community for KuCoin Futures. If you have any questions or suggestions on using KuCoin Futures, you are more than welcome to join our Telegram community for communication: https://t.me/KuCoin_Futures_TG
Q: What are the benefits for customers using KuCoin Futures? To develop KuCoin Futures for a long time and attract users, what method do you use to manage and minimize the negative impact of the risk?
Einar: In addition to the features and plans of risk control mentioned earlier, we have also launched the "Calculator" at the beginning of July this year, which supports users to calculate the returns, liquidation price, and close price with only one click to better assist our users on making wise investment decisions and risk management according to market conditions.
Q: What is the KuCoin Futures trial fund? How to use it?
Einar: The KuCoin Futures trial fund allows new users to try Futures products and trading features in a real trading environment without risks. For more details, please check “How to Use KuCoin Futures Trial Fund” documentation.
Thank you to all of our community members. It’s my great honor to be here with you guys!
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