How To Transfer From Coinbase To KuCoin
Coinbase and Kucoin are both reputable crypto exchanges based on our reviews. While Coinbase is designed for beginners and has relatively more users than the latter, there are several reasons to transfer crypto from Coinbase to KuCoin. This article will explain the step-by-step process of how to move crypto between the exchanges.
Can You Transfer Crypto From Coinbase To KuCoin?
Yes, individuals with a Coinbase account can transfer their crypto assets to KuCoin by initiating a withdrawal request. The overall process to withdraw on Coinbase can be completed in a straightforward manner which involves copying the Kucoin wallet address into Coinbase. The transferred funds will be shown in KuCoin as a deposit.
How To Transfer From Coinbase To KuCoin
Transferring crypto from Coinbase to KuCoin is quite easy. Here’s a quick tutorial explaining the process:
- Log into KuCoin or create an account. Use the registered credentials to log in or create a new Register an account or log in to an existing account using a valid email address, password, and One-Time Password.
- Copy the KuCoin wallet address to the clipboard. Click on “wallet” on the top left side of the screen, select the crypto to transfer, and find the wallet address. Click on 'copy' or scan the QR code.
- Return to Coinbase and make a withdrawal. Log in to the Coinbase account and click the "Send/Receive" button on the dashboard to initiate the withdrawal process. Paste the KuCoin wallet address into Coinbase and select the blockchain network.
- Confirm the transfer to KuCoin. Double-check the transaction details from the fees incurred to the amount of crypto to transfer. Click "Send Now," and the crypto will be shown as a new deposit in KuCoin once confirmed.
Reasons To Transfer Assets From Coinbase To KuCoin
While Coinbase is ranked higher among the top crypto exchanges by market share, there are several features that make KuCoin a much superior choice in comparison. We’ve listed the primary reasons below:
- A larger selection of coins and markets. KuCoin’s crypto offerings are incomparable to that of Coinbase. The platform offers more than 650 cryptocurrencies, many of which are relatively small and unavailable on other platforms, while Coinbase only has about 90 tokens available for its customers in the US. Most of which lie in the list of top 50 cryptos. With the growing interest in altcoins and meme coins, investors are constantly on the lookout for coins with small market capitalization.
- Lower fees: KuCoin offers better value for money when it comes to trading fees. First, the platform does not charge any fee for crypto deposits. Secondly, the platform follows a maker-taker fee that is 0.10% or less of the transaction value. There is also the incentive of an additional 20% discount if paying with KCS. Coinbase, on the other hand, charges 0.5% per transaction and does not have any discounts or rebates.
- Advanced features: KuCoin is more geared towards serious crypto traders with a larger selection of markets to trade. These include spot, margin and derivatives products. On the other hand, Coinbase has spot and margin pairs only. Moreover, KuCoin has a diverse offering of earn products such as liquidity pools, staking and interest accounts.
Transferring From Coinbase To KuCoin - Full Tutorial
To transfer crypto between Coinbase and KuCoin, follow these basic steps:
Step 1. Log into KuCoin or create an account
The first step is to obtain the deposit address within KuCoin for the particular crypto. Therefore, log in to KuCoin or create a new account and complete the ID verification process. This will increase the withdrawal limit should this be required. To find out how long it takes to verify on KuCoin, read this article.
Step 2: Find the wallet address and copy to clipboard
The default window will be the 'Assets' window that shows the current balances within KuCoin. To transfer funds, navigate to the 'Deposit' link along the top navigational menu and then select 'Deposit Crypto'.
On the deposit page, there is a drop-down menu to choose the cryptocurrency to receive from Coinbase. Choose the crypto and the blockchain network to use. It is important to choose the same blockchain network on both Kucoin and Coinbase to ensure the transaction is processed correctly.
Once selected, the wallet address will be shown. Click on the “Copy” button or scan the QR code with a mobile address. This will copy the wallet address to the clipboard.
Step 3. Return to Coinbase and paste deposit address
Since the deposit address is within the clipboard, the next step is to log into Coinbase to withdraw funds and transfer them to KuCoin. Log into the account where the funds are held. Once done, click on the 'Send/Receive" button on the top right and a pop-up window will show up. Click on the "Send" tab, and enter the amount of crypto to withdraw from Coinbase in dollars or directly in the cryptocurrency.
There is also a useful option to click on “send all” to transfer all the crypto from the account. After that, select how to pay in the "Pay With" option. The next step is to paste the deposit address that was copied to the clipboard in Step 2 above. Once done, click on continue and Coinbase will redirect to a confirmation screen.
Step 4. Review and confirm the transfer
The final step is to review and confirm the transfer. Check the details carefully and make sure it is correct. Coinbase will charge a fee depending on the transaction, listed as “Coinbase Fee” for the transaction. The network fee will be paid to the blockchain for the transaction to be carried out.
Click on 'Send Now' once all the details have been verified. The withdrawal should be verified by Coinbase in a few minutes & be transmitted on the blockchain. Within KuCoin, the transfer will be displayed as a "Deposit" once approved on the blockchain. Just be aware of the network fees which can vary between coins and tokens. For more information on how much it costs to transact in Bitcoin, read this article.
Frequently Asked Questions
Yes, it is possible to transfer crypto from Coinbase to KuCoin. The process is very easy, involving locating the deposit address, logging in to Coinbase, and making the transfer. The individual will need to have sufficient funds in the wallet to pay the withdrawal fees.
Coinbase and KuCoin do not charge any fees for crypto deposits or withdrawals. Therefore, individuals can transfer cryptocurrency between the exchanges without any exchange costs. However, there is a blockchain network fee to the miners or staking pools to process the transaction.
Conclusion
Although Coinbase and KuCoin are among the top exchanges in the world, they still have many distinctions that put one platform over another. KuCoin comes out to be better than Coinbase in several aspects and is therefore growing in popularity among investors. Consequently, investors want to transfer their crypto from Coinbase to KuCoin. In this guide, we looked at all the better features of why KuCoin is a decent alternative to Coinbase, and a tutorial explaining transferring crypto between the exchanges.
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