KuCoin has announced 5USDT rewards for completing its controversial and mandatory KYC (step1). Now who will do KYC for the prize?

KYC Of The Prize

No KYC No service—this is a threat.
     Most Kucoiners are privacy-focused and have felt uneasy ever since KuCoin made KYC mandatory. Many users have withdrawn their investments, and many are holding on until July 14 (like me). Kucoin seems to have sensed this, so it has announced rewards for completing KYC.

Competing with Binance

     This is an empty announcement because Kucoin already offers small rewards for completing KYC. This announcement is to defend Kucoin from Binance, as Binance has more features, but due to KYC requirements, many people were forced to move to Kucoin. Now that Binance is celebrating its 6th birthday on July 14th, Kucoin's heartbeat is up.

Kucoin Is On The Way

     According to the Coinmarketcap report, Kucoin is the fourth-largest exchange in the crypto market. It may be a little behind due to not coming in the first three, but its level is very good right now. It is unlikely that Kucoin will do away with the KYC requirement, but it is providing limited convenience to non-KYC old users. Now the decision has to be taken by the investors.