While exploring cryptocurrencies trading using any crypto exchanges like KuCoin, one of your main concerns would always be how to get your assets withdrawn, you will also definitely want to know how long the process would take, how much you would be charged for your withdrawals, as well as looking for the cheapest coin to withdraw.
What are the things to put in mind before Withdrawing from KuCoin?
Prior to knowing the cheapest Coin to withdraw from KuCoin, there are few things you need to put in mind to make you have a successful withdrawal as you explore intending coins on KuCoin.
One of the first things to do is to double check your token type and withdrawal address to be sure they’re correct because once the withdrawal process succeeds; you won’t be able to cancel it.
Also, to withdraw a particular asset, you must be sure that the receiving wallet matches with your kind of cryptocurrency, if not, you need to convert the asset on KuCoin into a cryptocurrency that can be deposited into the other wallet. Like for instance, if you want to withdraw BTC, you must ensure that your receiving wallet can also receive BTC.
More so, know that different tokens attracts different withdrawal fees charges, try to always check the fee amount on the withdrawal page by searching that token after logging in.
Furthermore, if peradventure your withdrawal amount is large and over 100,000 times of the handling fee, KuCoin will manually process your request for adequate security of your assets, and your assets will finally be transferred to your receiving wallet as determined by the blockchain.
While withdrawing, ensure that the money is in the main account and not the trading account, because you cant directly transfer from your trading account to an external wallet.
Also know that there are minimum withdrawals, so check well to be sure that you have enough tokens on your main account, otherwise your transaction wont go through.
Finally, be aware that the trading password and 2-Factor Authentication security in the withdrawing process are further ways provided by KuCoin to secure you from hackers and invaders.
The trading password allows you to do transactions within the KuCoin platform while the 2-FA ensures that the verified user is really the one currently using the account.
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What Does Finding the Cheapest Coin to Withdraw on Kucoin Entails?
Different networks determine how cheap a coin can be on KuCoin, hence you cannot get a fixed choice of the cheapest coin to withdraw. Taking for instance, the fee for withdrawing USDT via ERC20 network is 35 USDT while for TRC20 network, the fee is just 1 USDT only.
To therefore in this case choose the cheapest coin to withdraw, you have to check if the receiving platform also supports TRC20 USDT as well, if it does, you can then choose TRC20 instead of the ERC20 network.
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Final Thought
Now that you’re aware of how it takes to finding the cheapest coin to withdraw on KuCoin, it’s kindly suggested that you check the token you owned and verify the processing fee on the withdraw page.
You must also take note that finding the cheapest coin depends on the network transaction fees, which can fluctuate without notice because of factors like network congestion.
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