Cryptocurrency exchange KuCoin revealed its new product dubbed KuCoin S.
The main idea for the KuCoin team was a dedicated social platform for crypto that would offer a world of benefits that goes beyond just trading.
Moving forward, KuCoin users will be invited to test an initial version of the platform before it officially rolls out on the KuCoin app.
By receiving an invitation code and also being allowed to invite up to three friends, KuCoin users can enjoy its range of features.
As the team claimed, within the global news industry, there is the issue of fake news being peddled all over and for the crypto industry allowing unverified news to cause severe consequences.
KuCoin S as reputable source of crypto information
The KuCoin S newsfeed will feature only verified crypto news including project launches, token listings, among others.
KuCoin, which constantly aims to bring superior digital currencies to the crypto market, now has ensured the inclusion of the newsfeed to both combat fake news and drive conversations.
The main focus is on the feed that should include reputable sources of information and spare the user from opening multiple tabs in the morning to read the latest news.
“This is really important and we want to provide our users with a selection of relevant news without censorship and without fakes because often it is the news that nudges operations with cryptocurrencies,” said KuCoin CEO Johnny Lyu.
He added that there are traditional social media features such as being able to like and comment on stories.
Users will now be able to add a token to their watchlist or portfolio and converse with others.
While the biggest emphasis is on the social aspect, users will also be able to make trades from KuCoin S.
By clicking ‘buy’ on a specific token and entering the amount, they can buy the token directly. Considering the discussions that will be had regarding different tokens, this sort of feature helps users take action on the information they will receive.
This has already proven popular on trading apps like eToro but now, the crypto industry is getting one of its own.
Use of the platform will kick off from October 22, 2021, with 500 invitations being given out each day.
Testing will run until the final version, which will be improved upon after user feedback, is launched on the main KuCoin app later this year.