The Significance of VIP Programs in Cryptocurrency Exchanges
To my fellow KuCoin users who are reading this blog, have any of you here noticed how KuCoin has been quite active in initiating various VIP-related campaigns these past few months? From the VIP customer referral program, the VIP challenge competition, the VIP invitation program, and just recently, KuCoin announced its newest VIP invitation plan.
So What Is It About the VIP Program, and Why Are Multiple Exchanges Offering It?
That’s right. KuCoin is not the only exchange that offers a VIP program. As a matter of fact, numerous cryptocurrency exchanges have implemented similar programs.
A VIP program is a special membership program provided by crypto exchanges to reward and incentivize their users. Through these programs, exchanges aim to provide additional benefits and privileges to users who meet specific criteria or reach certain thresholds.
Having done my fair share of research about this kind of program, I can only think of two main reasons why many cryptocurrency exchanges provide VIP programs.
Firstly, VIP programs help to attract and retain high-volume traders, as these traders contribute significantly to the trading activity and liquidity of the exchange. By offering exclusive benefits, such as discounted trading fees, priority customer support, access to advanced trading features, or even special events, exchanges can incentivize traders to conduct more trades on their platform, thereby increasing the overall trading volume and revenues.
Secondly, VIP programs can also help to increase user engagement and loyalty. By providing additional perks and privileges to their most active and dedicated users, exchanges can build strong relationships and foster a sense of community among their traders. This not only encourages loyalty but also creates a positive reputation for the exchange, attracting new users who aspire to become part of the VIP program.
What Does It Take To Be a Kucoin VIP User?
For you to be eligible for this program, your 30-day trading volume had to be at least 50 BTC for spot trades or 200 BTC for trades in futures or an additional 999.99 KCS in KCS holdings. Also, it is important to provide proof of trading volume on other exchanges.
The picture below is where you can check the KuCoin VIP fee structure and your current VIP level.
If you want to be part of a VIP program, know that the KuCoin VIP program is known for rewarding high-volume traders with exclusive trading features that are tailored to their needs regarding risk, technology and rewards.
Also, you can enjoy the 60-day benefits of KuCoin VIP level+1 fee rates if your trading volumes at other exchanges reach the threshold for KuCoin VIP levels. Fill out an application now to get lower KuCoin trading fees.
To be honest, I myself have been wanting to apply for the KuCoin VIP program; however, I’m still struggling to meet and maintain the threshold. So as of right now, I am still working on trading more and ensuring my 30-day trading volume meets the threshold in order to be qualified and receive the VIP treatment from KuCoin, such as lower transaction fees and faster trading services.
Again, like what was mentioned in the first part of this blog, if you are already an existing VIP 1 to 12 user of KuCoin, take advantage of their most recent promotion, which allows you to invite up to two of your friends to sign up for KuCoin and share your VIP level and benefits with them for a 30-day trial period. It’s important to note that you must use your exclusive referral code to invite your friends. If you’re not sure where you can get your referral code, just click here.
