The Rise of Kucoin: Can They Take Binance's Volume?s

When I first got into crypto back in 2017 the 'it' exchange was Bittrex. That was where I sent my first purchases of BTC to exchange for their vast selection of juicy low cap altcoins. At this time, Binance was a small exchange with little to no trading volume trying to gain steam and attention for their cryptoplatform in hopes of having in an exchange as large as Bittrex one day, maybe even bigger.

For the hardworking team over at Binance, it took them three to five months to take their humble small exchange to become amongst the Top 5 trading exchanges to now, today, being the exchange of choice for many and steadily increasing trade volume. Through awesome promotions, giveaways and low cap altcoin listings Binance was able to sniff the trading volume from under the nose of Bittrex who gave innovative practices a seat while trying to focus on compliance with older banking systems.

Binance, now being the leading trading platform, is focusing on setting themselves up as the 'It' exchange of crypto. While I think this focus will be beneficial for them in the long run I feel that it is giving smaller exchanges a chance to pull a move similar to what Binance did to Bittrex on Binance. One exchange that is leading this charge is Kucoin.

Kucoin, known as the People's Exchange, is a Korean based exchange that was so influenced by the rise of Binance that they have even used some of their tactics straight out of the playbook. I will discuss in detail a couple of the reasons why I feel for the next alt run a lot of Binance's volume will move over to Kucoin.

I would like to point out, even though I think Kucoin has the chance to lead this run or become a major player due to it, I do not think Binance will fall. They will take a hit for some time but I do think what they are doing is setting themselves up as the Goldman Sach's of crypto.

The Takeover

Much like how when Binance came out, Kucoin has great promotions that are attracted traders and promoting trade on their platform. Not only do they have trading competitions, which can easily be manipulated or simply reserved for the already rich, Kucoin has smaller opportunities for getting rewards that don't require trading. All you have to do is interact with and help grow the community!

Also their coin listing and selection right now is much better than Binance. If we can remember this is part of the reason why Binance was able to take volume from Bittrex last winter. The process for being listed on Bittrex became groggy and complicated so Binance seized the opportunity to list the low cap gems that everyone wanted a piece of.

It currently cost projects starting @ $1 million to get listed on Binance and upwards. These low cap gems with barely 20 million marketcap are reluctant to spend that type of money just to be listed. Binance not being in the same position they were in a few months ago can afford to not worry about these smaller players(or so they think).

Kucoin is currently home to a lot of exclusive coins that are gaining steam and if it isn't exclusive Kucoin has the most user-friendly interface of them all.

What are your thoughts? Am I crazy for thinking that Binance has competition? Comment and let me know!