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How to Withdraw from KuCoin: 4 Steps
When trading cryptocurrencies on exchanges like KuCoin, a key concern is how to withdraw your assets. Given the dynamic nature of crypto, you might need to act quickly, including rapid withdrawals. This article will guide you through KuCoin withdrawals.
How to Withdraw from KuCoin in 4 Steps
Withdrawing money from KuCoin has several phases: logging in, selecting a token, confirming with 2FA, and completing your withdrawal. In this section, we’ll discuss each stage step-by-step.
Step 1: Access Your KuCoin Account
The first step is to log into your account. To do this:
- Login to KuCoin.
- Click “Assets” (bottom on the mobile app).
- Select “Withdraw” (upper part on the mobile app).
Step 2: Choose a Token
The next step is to choose the type of token you’d like to withdraw. To do this:
- Pick a token from the dropdown. Ensure the receiving wallet supports it to avoid loss.
- Ensure funds are in the main account, not the trading account.
- Check for minimum withdrawals; ensure sufficient tokens in the main account.
3. Enter 2-Factor Authentication and Trading Password
The third step is to enter your trading password and the 2-factor authentication code. To do this:
- Enter your 6-digit trading password.
- Input your email for a verification code or opt for SMS Verification if email is inaccessible. Click “Send Code.”
- Open the Google Authenticator app.
- Note the displayed code.
- Enter the verification code on KuCoin within the given time.
4. Finalize the Withdrawal
The final step is to finalize your transaction. To do this:
- Double-check withdrawal address and token type.
- Confirm the receiving wallet supports the chosen token.
- Be aware of varying token fees and ensure you’ve accounted for the minimum required amount.
- Carefully verify all details; errors can lead to permanent loss.
- If all details are accurate, click “Submit.”
How Long Will a KuCoin Withdrawal Take?
KuCoin withdrawals usually take 30 minutes. Large withdrawals (over 100,000 times the handling fee) may take longer due to manual processing for security. The blockchain network speed also affects the receiving time in your wallet.
KuCoin Withdrawal Fees
KuCoin implements different withdrawal fees for different tokens. There’s also a minimum withdrawal amount that varies per token.
For instance, the current withdrawal fee for Bitcoin is 0.0005 BTC with a minimum amount of 0.002 BTC, while the withdrawal fee for Ethereum is 0.01 ETH with a minimum amount of 0.02 ETH. You can find the full list on the platform or on third-party listings. Take note, these fees might change depending on market prices.
As the cryptocurrency market is thought to be one of the most volatile around, often losing and gaining value multiple times per day, make sure always to check the transaction fees before you complete your order.
Can You Withdraw Coins from KuCoin?
You can withdraw coins from KuCoin and transfer them to a different wallet.
Unfortunately, KuCoin doesn’t convert your asset into fiat currency. You can only send and receive cryptocurrency assets like Bitcoin.
If you want to withdraw a particular asset, you need to ensure that the receiving wallet caters to that kind of cryptocurrency. Otherwise, you will first have to convert the asset on KuCoin into a cryptocurrency that can be deposited into the other wallet.
For example, if you want to withdraw BTC, you must make sure that your receiving wallet can receive BTC. You won’t be able to withdraw your BTC on KuCoin if the receiving wallet isn’t compatible with it.
That said, despite its limitations, withdrawing money from KuCoin is easy and convenient. The next section will show you the process for making withdrawals on the KuCoin platform.
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Withdrawals on KuCoin: Final Thoughts
Withdrawals are crucial in crypto trading. To ensure your rewards aren’t lost due to errors, familiarize yourself with KuCoin’s process. While KuCoin streamlines withdrawals, understanding it fully safeguards your assets. This article equips you for successful KuCoin withdrawals.
KuCoin Withdrawal FAQ
Below, you will find some common questions about KuCoin withdrawal and their answers.
What is KuCoin?
Launched in 2017 by Michael Gan and Eric Don, KuCoin is a user-friendly crypto exchange. It offers low fees, diverse trading methods like P2P and futures, and options to earn with cryptocurrency through staking and lending. With a vast selection of around 400 cryptocurrencies and over 10 million users as of 2021, KuCoin stands out as a top choice for new and seasoned traders alike.
Is leaving money on KuCoin safe?
While KuCoin employs security measures, it’s generally recommended to use personal wallets for large amounts or long-term holdings.
Can I withdraw from KuCoin to my bank?
While KuCoin primarily handles cryptocurrency, certain options might exist to convert and transfer to banks. Always check their latest policies and options.
Can I withdraw from KuCoin to Coinbase?
Yes, by sending the crypto from your KuCoin wallet to your Coinbase wallet address. Ensure correct addresses and compatibility.
Why can’t I withdraw money from KuCoin?
There could be several reasons, including not meeting minimum withdrawal amounts, network congestion, or account verification issues. It’s best to contact KuCoin support for specifics.
Does KuCoin allow US customers?
Previously, KuCoin had some restrictions for US customers. It’s essential to refer to their latest policy for current details.
Can US citizens withdraw from KuCoin?
As of my last update, US citizens had restrictions on KuCoin. Always check KuCoin’s terms of service for the most current information.
How do I link my bank account to KuCoin?
KuCoin primarily deals with crypto, but they might have fiat on-ramps. Always refer to their platform for the most up-to-date procedures.
Does KuCoin allow bank transfers?
Some fiat deposit methods might be available. Check their platform for specifics.
How do I withdraw crypto to my bank account?
Generally, you’d transfer crypto to an exchange supporting fiat conversion, then withdraw to your bank.
How do I deposit US dollars into KuCoin?
While KuCoin primarily operates in crypto, they may have certain methods for USD deposits. Always refer to their platform for guidance.