NEO KCS - NEO vs. Kucoin Shares - The Battle of PoS Tokens - Part I

NEO vs. Kucoin Shares – The Battle of PoS Tokens – Part I

NEO (NEO) is a next-generation smart economy platform. It was rebranded from its original name, Antshares. Like the Ethereum, the NEO ecosystem operates using the GAS tokens which serves an identical function as the Gwei on the Ethereum platform. Those who hold the NEO tokens are rewarded with GAS which can be exchanged for other coins/tokens. The tokens are pre-mined and issued on the NEO’s genesis block.

KuCoin Shares (KCS) on the other hand is a token for the KuCoin cryptocurrency exchange. The Exchange shares 50% of its trading fees with KCS holders on a daily basis depending on how much KCS tokens they own. Since the exchange charges trading fees for tokens traded on the platform, KCS holders get different coins as a bonus over time and not just the KCS tokens.

KuCoin Shares and NEO are two cryptocurrencies that give passive income. Holding NEO gives you free GAS, and KuCoin Shares tokens offer holders a percentage of daily trading fees.

Profitability

A question that comes to everyone’s mind when deciding on which to hold between NEO and KCS tokens is how much gains would be made on daily bases when holding these assets.

The following calculations are based on current values as at the time of writing and are subject to change at any time.

For every NEO token (presently at $51.39) held, you get $0.004 daily. For KuCoin shares token, on the other hand, keeping the same worth as NEO would be holding 22.444096 KuCoin Shares. So for every 22.45 KuCoin shares token held, holders get $0.0074 daily.

By the above calculations, it’s more profitable holding KuCoin shares to holding NEO tokens.

(To get present reward rates use https://neotogas.com/ and https://kucoinshares.com/ reward calculators).

More Ways To Earn With These Tokens

Besides just holding these tokens for daily rewards, just like every other cryptocurrency/token out there, market values can rise over 1000% in short period. At the same time, we’ve seen values dropping as fast in the cryptocurrency market. For instance, NEO currently at $46+ has seen an increase of 23,237.83% in the past 1yr and KuCoin shares have only made 173.67% gain in the same period.

In this case, those who have held NEO over the past year have recorded a whole lot of gains than KuCoin shareholders.

How To Get These Rewards

Holding NEO and KuCoin Shares tokens on most exchanges don’t guarantee rewards as analyzed above. Nevertheless, the value of your tokens can rise and decline at market values when you have them there.

To Claim GAS tokens

neo 300x300 - NEO vs. Kucoin Shares - The Battle of PoS Tokens - Part I

There are few safe ways to claim GAS for NEO tokens. You can claim GAS on hardware wallets, software wallets, and some exchanges.

#1. NEON Wallet

You can claim GAS directly from a NEON wallet, NEO official wallet. To claim the tokens, you need to have your NEOs stored in the NEON wallet for some time.

Once your NEO tokens are in your NEON wallet, you will see your GAS tokens continuously building up inside your wallet. You can claim your GAS anytime.

If you have a NEON wallet installed, follow these steps to claim GAS on the NEON wallet:

  • Login to your wallet and check if you have GAS to claim.
  • If you have sufficient GAS to claim, a claim GAS button would be activated with the value of GAS you have to claim specified on it.
  • Click the claim button and relax.
  • Once claimed, your new GAS balance would be updated.

#2. Ledger Hardware Wallet Owners Claiming With NEON Wallet

The Ledger Nano S wallet supports NEO cryptocurrency via the GUI interface of the NEON wallet.

It is, therefore, possible to download the NEON Wallet here, then connect your Ledger Nano S device to display your NEO coins on the Ledger Nano Device.

It is quite simple to claim your GAS when Ledger Nano has been successfully connected to your installed NEON wallet.

To claim your GAS tokens as a Ledger Nano S User, follow these steps:

  • Connect Ledger wallet to your computer.
  • Open Ledger Manager Chrome App.
  • Install NEO app on the Ledger by clicking on Installation button next to NEO on the Ledger, app manager.
  • Confirm installation on the Ledger device by clicking the right button.
  • Download NEON wallet for your Operating System and install it.
  • Click on NEO icon on Ledger wallet; the device should show Wake up, NEO on its built-in screen.
  • Open the NEON wallet and choose the option to log in with a Ledger.
  • On the next screen, you’ll see a message that says “Found USB Ledger Nano S Success. NEO App Found on Hardware Device. Click Button Above to Login.”
  • Click on the “Use Ledger Nano S” button to gain access via your NEON wallet.
  • You should now see the Claim GAS button.
  • Click on the button to claim if you have any pending claims.

#3. Claim GAS on Exchanges.

Though not all exchanges support this, you can claim GAS for NEO stored on exchanges that supports NEOGAS.

You should have it in mind that keeping your cryptocurrencies on an exchange is risky. It is susceptible to hacks, or the exchange can completely shut down for reasons best known to them. You, therefore, don’t want to keep a lot more than you can afford to lose on an exchange.

Binance and KuCoin Exchanges are those that currently allows users to claim GAS for NEO.

There is nothing required of users to get their GAS tokens on these exchanges. Your tokens will be added monthly on Binance and daily for KuCoin exchange users.

To Claim KuCoin Shares (KCS) Tokens

KuCoin Shares icon 300x300 - NEO vs. Kucoin Shares - The Battle of PoS Tokens - Part I

To get a share of these “dividends” or “kucoin bonus” as it’s being referred to, you must be registered on the KuCoin Exchange.

As people trade their cryptocurrencies on the KuCoin exchange, KCS holders will also get a percentage increase on different coins/tokens traded that day.

All these coins/tokens can be exchanged for any cryptocurrency of choice and withdrawn, or you can use them to pay for trading fees as well.

The downside of getting all these different tokens is it may be difficult to cash out unless you own a lot of KCS tokens that give you a reasonable percentage daily.

Conclusion

Both tokens have proven to be worth keeping for long-term gains. Nevertheless, this article hasn’t suggested any of them as investment opportunities. It is, therefore, crucial to do your research and invest in what you believe. Also, make sure you don’t invest in what you can’t afford to lose.