What is Kyber Network (KNC)? All about KNC virtual currency

By F | Coins & Tokens

What is kyber network

A series of articles about Coin and Token's Coin98, today, let's find out about the Kyber Network (KNC).

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Kyber Network (KNC) is a token built on Ethereum's ERC-20 platform.

KNC Token is an integral part of Kyber Network. The KNC Token can be considered as a glue connecting the participants in the ecosystem of Kyber Network.

Basic information about Kyber Network (KNC)

  • Ticker: KNC
  • Contract: 0xdd974d5c2e2928dea5f71b9825b8b646686bd200
  • Decimal: 18
  • Blockchain: Ethereum
  • Token Standard: ERC-20
  • Token type: Utility
  • Avg. Transaction time: n / a
  • Total Supply: 214,937,099 KNC
  • Circulating Supply: 150,982,698 (70.02%) KNC

Kyber Network (KNC) exchange rate today

What is Kyber Network (KNC) used for?

Use KNC Token to join Kyber Reserves (those who create liquidity for the network)

In particular, third parties (KNC Token reserves) must have KNC to pay their operation fees on the network. In other words, Kyber Network is paid with KNC Token from the store (Kyber Reserves).

This 3rd party (KNC Token reserve) can be: Token Holders, Token Team, Decentralized Funds, Market Makers.

Kyber Network KNC

Using KNC Token is used to pay commission for parties to expand the network

Kyber Network is a method that allows users or participants to convert (Swap) the token or coin they are holding, to another token or coin.

The parties participate and integrate this feature into their products, or platforms. These people will receive a commission (commission) every time a Swap transaction is successful.

The payment of this commission will help motivate third parties to participate in expanding Kyber Network's network. These participants can be dApps, Wallet, or businesses, ...

Use KNC Token to pay transaction fees within the network

In Kyber Network's network, you will have to pay fees using KNC Token.

The KNC Token collected from this paid service will be removed from the market circulation by Kyber Network. This helps reduce the amount of KNC Token circulating over time.

Below is an overview of the units of wallets, dApps, websites, vendors, etc. that are providing / integrating Kyber Network services. In particular, KNC Token is used:

Kyber Network KNC is used

Kyber Network transaction fee (KNC)

Kyber Network (KNC) is a token built on Ethereum's ERC-20 platform.

When trading or transferring KNC Token, you will be charged the following fees:

When making a withdrawal / deposit of the exchange (Binance floor)

  • Desposit fee: Free
  • Withdrawal Fee: 3.7 KNC

When switching between wallets, you will have to pay Ethereum's Transaction Fee.

Transaction Fee: Refer to the following link.

Chu ý: Different exchanges will have different KNC Token withdrawal fees.

How to earn and own Kyber Network (KNC)

Buy KNC Token directly on the exchanges.

You can own KNC by buying it on Crypto-to-Crypto exchanges like regular cryptocurrencies.

Or you can exchange (Swap) it with other cryptocurrencies right on Kyber Network's platform.

buy Kyber Network KNC

Earn KNC Tokens by becoming a Swap provider of Kyber Network and receive KNC as normal parts when the transaction is successful.

Kyber Network storage wallet (KNC)

Kyber Network (KNC) is an ERC-20 platform token that can be stored on all ERC-20 supported wallets.

Soft wallet: Ethereum wallet, MyEtherWallet wallet, For Meta Mask, Wallet on Binance exchange...

Hard wallet: Ledger, Trezor, imToken

Kyber Network (KNC) exchange

Currently KNC Token is being traded on 41 exchanges Cryptocurrency.

Below is a list of the exchanges with the largest KNC Token trading volume:

  • 24.01% 55 Global Markets
  • 16.49% of Binance
  • 14.37% Coineal
  • 11.04% Bithumb
  • 5.13% DragonEX
Kyber Network KNC floor

Trading volume in pairs of trading pairs:

  • 46.40% KNC / BTC
  • 20.70% KNC / ETH
  • 18.30% KNC / KRW
  • 11.90% KNC / USDT
  • 2.70% Others
Kyber Network KNC currency

The future of Kyber Network (KNC)

According to Kyber Network's 2019 plan announcement, there are 5 key areas that they focus on developing:

  • End User Token Swaps
  • Exchanges and Trading
  • Payments For NFT and Commerce
  • Decentralized Finance
  • Liquidity Providers.

Under this plan, Kyber Network will expand their market. This is to bring more benefits to the participants, and to increase the demand for KNC Token in the network.

In addition, as services that require KNC fees increase, the amount of KNC that Kyber Network acquires and is removed from traffic will increase. This increases the scarcity of KNC Token.

Should I invest in Kyber Network (KNC)?

KNC Token's Market Cap at the time of writing (April 08, 04) was $ 2019 - ranked 46,984,326 in the rankings of CoinMarketCap about market capitalization.

The total circulation of the current KNC Token (Circulating Supply) is 150,982,698 accounting for 70.02% of the total supply of 214,937,099 KNC.

Kyber Network also has 16 Kyber Reserves and supports over 70 tokens.

Kyber's ecosystem is expanding, so does the demand for KNC Token to become Kyber Reserves.

You should make your own judgment about the potential and investment opportunities in Kyber Network (KNC).

summary

Today's article is to provide information about the Kyber Network (KNC), so that you have one more reference source.

Therefore, if you have any other views, please leave a comment below the article for Coin98!

I and the Coin98 team are happy to receive feedback from you.

Hello and see you again in the next article!

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