One of the stand points in any trading or investment platform especially on any crypto exchanges like KuCoin, is knowing how to get your assets withdrawn, with some investors or traders looking for the cheapest coin to withdraw at strategic trade points.
Many other investors or traders could also be very interested in wanting to know how long the withdrawal process would take, as well as how much charges are been attached to these withdrawals.
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.
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.
How Can You Withdraw From Kucoin?
You can learn how to withdraw your cheap coin following the simple steps below;
- Log into your KuCoin account.
- Tab Assets.
- Choose Withdraw.
- Select a Token. Note: You must ensure that the receiving wallet supports the token you want to withdraw, so as to avoid losing your money.
- Engage the 2-Factor Authentication.
- Double check and make sure you verify your details.
- Complete the withdrawal.
How much does Kucoin basically Charge on its Withdrawals?
KuCoin basically charges a withdrawal fee that’s equivalent to 0.0005 BTC when you withdraw BTC.
What Minimum Withdrawals can you make on Kucoin?
You must know that KuCoin for different tokens charges different withdrawal fees; coupled with an amount charged for minimum withdrawals which varies per token.
An example is the Bitcoin whose withdrawal fee is 0.0005 BTC with a minimum withdrawal of 0.002 BTC. Also for Ethereum is a withdrawal fee of 0.01 ETH having a minimum withdrawal of 0.02 ETH.
What’s the Expected Duration for Kucoin to Process My Withdrawals?
Even as you intend to get your cheapest assets to be withdrawn, you might want to know for how long it will take for KuCoin to process your withdrawals.
Withdrawals on KuCoin can range from up to some minutes to a few hours though dependent on the coin as well as the speed of the crypto network you are sending funds on.
Although in all cases it should take less than one hour, with exception as regards cases of large withdrawals that are 100,000 times the handling fee.
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.
Idris Yau is an entrepreneur and a seasoned finance and marketing content writer. He brings you unbiased reviews about products and answers to your finance questions.