KuCoin LockDrop | Profitable?
KuCoin is a TOP 5 exchange which is becoming more and more recognized which offers many promotions like LockDrops
The People’s Exchange
LockDrop is a type of stake which currently allows to do it with USDT, ETH and KCS (Giving better rewards to KCS)
This promotion is limited (first come first served)
Let’s take as an example the last LockDrop that KuCoin had
In this case the rewards was 59,500,000 RED
Basically free money if you have any of the assets required to stake
Usually the staking time varies between 20–30 days
This promotion always ends in the first minute, even so I have personally participated in several of these promotions
The rewards always vary according to their distribution but usually most of them are given before being listed
There is always a minimum to participate (the entrance is quite accessible) and also a maximum to be fair
Taking as an example the stake in KCS in this promotion for each KCS you would earn 89 RED, which is quite profitable if we take as a base the price of both assets
Based on the current price of KCS and RED at the time of this post
0.0105 x 89 = 0.93 USD
We can see that we would earn almost 10% just by keeping our KCS staked for 30 days
In conclusion we can see that is really profitable (Some Lockdrops will be more lucrative than others)
Usually has to take a higher price at the beginning and gradually lower the first few days (Some tend to start their uptrend when most have already sold their coins from these events, although it depends on the project)
Personally with this Lockdrop I got +80k RED which the first 60% delivered I sold for 585 USD (The coins were given to me 1 day after participating) and if the price is maintained when I manage to sell the rest I would earn something like +300 USD more
Therefore, earning almost 900 USD just for making a couple of clicks
KCS is a coin worth hoarding, becoming scarcer and has several ways to generate income
More about KuCoin Token (KCS):
