What Is Bitkub Coin (KUB) How It Works & Where To Buy It?

Bitkub is one of the most popular centralized exchanges in the world. Bitkub Coin (KUB) is the native token of the Bitkub Exchange and plays a key role in the Bitkub Chain ecosystem.

Bitkub Coin allows token holders exclusive access to trading discounts, DeFi yield earnings on the Bitkub Chain, and early access to newly listed tokens on the Bitkub platform.

The KUB token is currently the 155th largest cryptocurrency in the world by market cap.

How Bitkub Coin (KUB) Works

Bitkub is the largest cryptocurrency exchange in Thailand. The crypto exchange frequently exceeds more than $50 million in daily trading volume, and more than 60 crypto assets are listed on the exchange.

The crypto exchange was started by Jirayut Srupsrisopa, who has quickly grown to become a well-known name in Thailand and the broader blockchain space. Bitkub’s success has led to the KUB token performing well and significant increases in the Bitkub coin price.

When viewing the Bitkub coin price chart, you’ll notice a distinct correlation between the KUB price and the 24 hour trading volume on any given day. When volumes are higher, there are typically higher price fluctuations.

The Bitkub Coin is an ERC20 (Ethereum network) token that has various addresses for multiple chains. The current USD price of the Bitkub Coin is significantly lower than prices in 2021. The current price is around 8x lower than the highest price in 2021.

The Bitkub Chain has reduced the gas price per transaction by 10x. Additionally, the number of KUB coins will be drastically reduced from 1,000,000,000 to 110,000,000 – this will be achieved by burning the tokens in upcoming years.

If you’d like to read more about what the protocol aims to provide, you can refer to the Bitkub Chain whitepaper.

What Is Bitkub Coin (KUB) Used For?

The Bitkub Coin has various utilities which make it an appealing option for individuals to buy KUB. The most notable use cases for KUB tokens include:

• KUB Holders Receive Trading Discounts – KUB holders receive trading fee discounts on the Bitkub exchange – an in-depth overview of the discount structure can be seen here. Many individuals purchase KUB tokens so that they don’t have to pay large amounts in trading fees.
• Early Token Access – Holders of KUB tokens receive exclusive early access to tokens before they’re listed on the Bitkub exchange. Users are often required to stake KUB tokens to qualify.
• Governance Token – The KUB coin is the governance token of the protocol and users that stake KUB receive exclusive voting rights. They can exercise these voting rights when proposals arise – users should do their own research to fully grasp the meaning of certain proposals.
• Participate In DeFi – KUB tokens are used to pay for transaction fees on the Bitkub Chain. Users can also earn additional yields on their KUB tokens by participating in DeFi products such as staking, liquidity pools, and yield farming. Participating in decentralized platforms is at your own risk, and you should do diligent research before attempting to use DeFi products.

Many sites would recommend that you consult a financial advisor as they provide financial advice. However, this isn’t necessarily the best option, and there are more than enough resources on the internet where you can obtain the relevant information and learn about blockchain and cryptocurrency.

Where To Buy Bitkub Coin (KUB) Tokens

Bitkub Coin (KUB) is most commonly traded on the Bitkub exchange. The token’s utility is restricted to the Bitkub exchange, and this is why the token’s trading volumes are significantly higher on the Bitkub exchange.

KUB tokens are available to purchase on most centralized crypto exchanges. Before you’re able to purchase KUB, you’ll need to deposit fiat money onto an exchange, and sequentially KUB tokens will be credited to your KUB digital wallet (ERC-20) on the exchange.

The crypto exchanges below are the safest place where you can buy, sell and store KUB tokens.

Four of the most popular crypto exchanges that US citizens use are:

1. Bitkub
2. CoinEx
3. Gate.io
4. MEXC

All of the above exchanges allow users to buy, sell, transfer and store KUB tokens in a digital wallet on the specific exchange. You can also transfer KUB tokens between any of the abovementioned exchanges because they all have Bitkub Coin wallets.

Alternatively, individuals can transfer their KUB tokens (via the ERC-20 network) from a centralized exchange to a digital wallet, and then use their KUB tokens to participate in DeFi products in the Bitkub Chain ecosystem.

FAQs About Bitkub (KUB)

How long has Bitkub (KUB) existed?

The Bitkub exchange was initially launched on the 2nd of February, 2018. The KUB token was released in May 2021.

Since the Bitkub exchange launched, it has grown to become a formidable force in the crypto space. The exchange currently aims to onboard more than 7 million customers in 2022.

What’s controversial about Bitkub Coin (KUB)?

The blockchain and cryptocurrency space is growing at a rapid pace. However, there is a definite lack of education in the crypto space, and most retail investors research before investing in a project.

The cryptocurrency space is notorious for scam projects and rug pools that try to capitalize on unknowing and under-educated retail investors. This often leads to retail investors losing large amounts of money because they fail to understand some of the fundamentals of what credible cryptocurrency projects truly are.

It’s essential to do as much research as possible before investing in any project – research the founders of the project, the aims of the project, partnerships, and any other important information before investing.

Let’s take a look at the top two controversies surrounding Bitkub Coin (KUB):

• Restrictive Trading – Although the Bitkub platform is Thailand’s largest crypto exchange, millions of users use other popular crypto exchanges. However, the utility of the platform’s KUB coin is only available on the Bitkub exchange. Users can only purchase KUB coins on 4 exchanges, and many people consider this to be a major downfall of the KUB token.

  Most exchanges aren’t interested in listing another crypto exchange’s native token.

• Limited Utility – Users can only benefit from the exclusive features of KUB coin if they use the KUB tokens on the Bitkub platform. This is one of the largest issues with the majority of exchange tokens; they are only beneficial when used within their native ecosystem or on their native trading platform.

How many Bitkub Coin (KUB) tokens are there?

At the time of writing, Bitkub Coin (KUB) has a circulating supply of 88,850,000 (80% of the total supply).

The total supply of Bitkub Coin (KUB) is 110,000,000.

There max supply of Bitkub Coin (KUB) is 100,000,000,000.

Can Bitkub Coin (KUB) be mined?

Bitkub Coin (KUB) is not a mineable cryptocurrency. KUB token is an exchange token, and the token is not mineable.

However, individuals can earn yields on their KUB tokens by participating in DeFi products such as farming, staking, and liquidity provision on the Bitkub Chain.

The Bitkub centralized exchange also offers rewards to users that stake KUB on the exchange.

What is the market cap of Bitkub Coin (KUB)?

The market cap of Bitkub Coin (KUB) is: the total amount of coins in circulation x the current market price of KUB.

Bitkub Coin (KUB) Market Cap = 88,850,000 KUB x $2,31 = $205 million (155th largest market cap).

Bitkub has grown exponentially in recent years; this can be attributed to the growth curve in crypto interest and adoption. The KUB exchange token has seen a price reduction since the onset of bearish sentiment – KUB is trading at 4x lower than its listing price.

The market cap fluctuates according to circulating supply and market price.

Biggest Competitors Of Bitkub Coin (KUB)

There are several centralized exchanges that have millions of users. The success of these exchanges is largely due to token listings, user experience, location, and user preference.

Some notable competitors of Bitkub and KUB are:

• Binance (BNB)
• Gate.io (GT)
• KuCoin (KCS)
• Coinbase
• Crypto.com (CRO)
• KuCoin (KCS)

What Are The Future Plans For Bitkub, Bitkub Chain and KUB Token?

Bitkub will continue to prioritize the growth of the exchange and its ecosystem. The team has announced a focus on incubating other projects, incorporating NFTs, growing user adoption, and enhancing functionality.

Pros and Cons of Bitkub and KUB Token

Pros:

• Thailand’s Largest Crypto Exchange – Bitkub is the largest crypto exchange in Thailand and the 10th largest crypto exchange in the world.
• Deflationary Mechanism – The total supply of KUB tokens will be reduced from 1 billion to 110 million – this is achieved through burning KUB tokens.
• Trading Fee Discounts – Token holders receive exclusive trading fee discounts.
• Governance Token – The KUB token is used to pay for transaction fees, and it is also the governance token of the platform and Bitkub Chain. Users who stake KUB receive voting rights that they can use when proposals arise.
• Bitkub Has Various Crypto Assets – Thailand’s biggest cryptocurrency exchange has more than 60 crypto assets that users can purchase and trade.

Cons:

• Limited Trading – Currently, there are only 4 exchanges that have listed the KUB token.
• Loss Of Utility – If the Bitkub exchange was exploited, the KUB token would likely suffer as a result. KUB is the platform’s native token and the success of the Bitkub platform is directly linked to the success of the KUB token.