Trading frequently on KuCoin? Here's a guide to help you cut down on your trading fees.
While KuCoin's standard fee rate is already one of the best at 0.1%, it gets even lower with our native token, KCS!
Contents
1. What is KCS?
2. How to Enable Fee Payments With KCS
3. FAQs
1. What is KCS?
KCS is KuCoin's native token. It was launched in 2017 as a utility token that lets traders benefit as the exchange grows.It is issued as an ERC-20 token on the Ethereum network, making KCS compatible with most Ethereum wallets.
In mid-2021, some KCS was migrated to the KuCoin Community Chain (KCC). As the primary fuel of KCC, KCS powers all dapps on the chain's ecosystem.
The initial total supply of KCS was set at 200 million, with a monthly burn mechanism that reduces it until only 100 million KCS remain.
▶ For more details, head over to the Official KCS Website
▶ Learn about KCS and its functions in our earlier blog article: What KCS Is and How It Works
2. How to Enable Fee Payments With KCS
Web:
Select your avatar in the top-right to access your User Profile. There, you'll find the option to enable KCS for fee payments.
When you're on the trade page, select Fee Discounts in the top-right of the trading panel.
App:
Tap the Personal icon in the top-left corner, enable Pay Fees with KCS.
KCS Staking:
Currently involved in staking but still want to pay your fees using your staked KCS? No problem!
Simply enable Pay Fees with Staked Amount on the staking page, along with earlier Pay Fees with KCS steps.
3. FAQs
Why does the fee remain the same even after enabling the feature?
After enabling Pay Fees with KCS, the 20% discount is offered in rebate. For instance, if your trading fee was 1.00 USDT paid using KCS, you'll receive 0.20 USDT back in KCS.
Which accounts should KCS be in to pay the trading fees?
Your KCS should be in the Funding Account, Trading Account, or staked in KCS Staking.
What if my KCS balance is insufficient?
If your KCS balance isn't enough, the 20% discount won't apply to your trades.
What types of trades are eligible for discount?
Currently, the 20% KCS discount applies to both spot and margin trading.
How do I check my KCS fee payment history?
(1) For KCS market trades, you'll see two records: the trading fee in KCS and the refunded fee.
For instance, trading the MJT/KCS pair incurs a 1.00 USDT fee, so the two records shown will be the 1.00 USDT deduction in KCS, and the 0.20 USDT rebate in KCS.
(2) For non-KCS market trades, each transaction has three parts: the original trading fee, the payment in KCS, and the refunded fee.
For instance, if trading the BTC/USDT pair incurs a fee of 1.00 USDT, the three records shown will be the 1.00 USDT fee, the 0.80 USDT deduction in KCS, and the 1.00 USDT rebate.
Detailed history can be found via Assets > Funding Account > Account Details.
How is KCS fee payment calculated?
Once enabled, trading fees that would have originally been settled in USDT will be charged as KCS after applying a 20% discount. However, due to price fluctuations when converting the deduction to KCS, the actual discount may be less than 20%. Please refer to the actual deducted amount for accuracy.
You can view the original USDT trading fees at any time from Spot Orders >Trade History.
Here's how it works:
(1) For Trading in KCS Pairs (e.g., KCS/USDT):
Your fees are discounted based on the last KCS/USDT market price.
(2) For Trading in Non-KCS Pairs (e.g., TRX/USDT):
The discount is calculated as,
KCS/TRX Discount = KCS/USDT Last Market Price ÷ TRX/USDT Last Market Price.
Calculating the Discounted KCS Amount:
For example, if your fee is 1.00 USDT, the discounted KCS amount is calculated as (1.00 USDT × 80%) / (KCS/USDT last market price).
You can check the detailed breakdown of your discounted fees in theTrading Account > Account Detailssection.
Remember:
- The last market price updates every second.
- For spot trading, the fee discount applies based on the base currency's fee rate. If the fee rate for Class A, B, or C is below 0.025%, 0.050%, or 0.075% respectively, the discount won't apply, and you'll pay the full fee in the quote currency of the trading pair. This fee rate is determined by the master account.
- The discounted KCS for the transaction is deducted from the account that made the trade.
Need help?
Our customer support team is available 24/7. Feel free to reach out via online chat or submit a ticket if you have any other questions.
Happy trading on KuCoin!
