About Pay Fees with KCS
01/02/2023 17:10:11
Dear KuCoin Users,
We are glad to see that the Pay Fees with KCS feature has been well received and widely used by users since its launch.
To ensure the best possible trading experience and provide users with a better understanding of how Pay Fees with KCS works, we have provided an explanation of the feature below.
Pay Fees with KCS Calculation Method
Take BTC/USDT as an example, the trading fees shall be settled in USDT. If Pay Fees with KCS is enabled, fees will be charged in KCS after applying a 20% discount to the original USDT trading fees.
You can view the original USDT trading fees from Spot Orders > Trade History.
Discount prices are calculated as follows:
- If you are buying with a KCS pair, take KCS/USDT as an example, the discount will be calculated according to the latest market price of KCS/USDT.
- If you are buying a trading pair other than KCS pairs, take TRX/USDT as an example, the discount will be calculated as follows: KCS/TRX discount price =[(KCS/USDT) latest market price]➗[(TRX/USDT) latest market price].
Discounted KCS amounts are calculated as follows:
- To prevent price fluctuations, the amount of KCS discounted will be calculated in accordance with the latest KCS discount price minus 5%.
- For example, if the trading fee is settled in USDT: Discounted KCS amount=[USDT trading fees × 80% ]➗[(KCS/USDT)latest market price × (1-5%)].
You can view discount details of Pay Fees with KCS from Trading Account > Account Details.
The latest market price is updated every second.
Note: For spot trading, the base currency will be used for fee rate judgement. When the fee rate of Class A/Class B/Class C is lower than 0.025%/0.050%/0.075% respectively, no discounts will be applied even though the Pay Fees with KCS feature is enabled. Users will be charged 100% of the trading fees in accordance with the quote currency of a trading pair. The fee rate is determined by that of the master account. Discounted KCS is deducted from the account that generated the transaction.
Thank you for supporting KuCoin!
The KuCoin Team
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