How long does it take to transfer usdt from binance to kucoin
- In this guide, we’ll show you how you can transfer Tether from Binance to KuCoin in three easy steps
- TRON-based USDT (TRC20) is the fastest and most cost-effective way to transfer Tether from Binance to Kucoin
- The whole crypto transfer process shouldn’t take longer than a couple of minutes
How to send Tether from Binance to KuCoin?
Transferring Tether (USDT) from Binance to Kucoin is pretty simple, and a similar process can be applied to any cryptocurrency that’s supported on both websites. In essence, you’ll have to withdraw assets from your Spot Wallet on Binance and deposit them to your Main Account on KuCoin.
In this article, we’ll be showing you how you can transfer USDT from Binance to KuCoin to trade cryptocurrencies that are listed on KuCoin.
What is Binance?
Binance is the most popular cryptocurrency exchange in the world, offering a multitude of services ranging from spot cryptocurrency trading to cryptocurrency derivatives, staking, and interest-rate bearing crypto lending products under the Simple Earn banner. Binance lists a huge selection of cryptocurrencies that can be traded across more than 1,200 trading pairs.
Create Binance Account
What is KuCoin?
KuCoin is a popular cryptocurrency exchange that’s popular among altcoin traders. Since its launch in 2017, KuCoin has introduced numerous new features to expand its offering of trading products. Even though Binance is a bigger exchange than KuCoin, KuCoin lists some smaller cryptocurrencies that are not available for trading on Binance.
Create KuCoin Account
Step-by-step guide: Binance to KuCoin USDT transfer
The process of transferring coins from Binance to Kucoin is pretty straightforward. Let’s take a step-by-step look at how to transfer USDT from Binance to KuCoin.
1. Get your USDT deposit address on KuCoin
On KuCoin, go to your Main Account and click on “Deposit” next to the selected coin, in this case, Tether (USDT).
Select the network (blockchain) you’d like to transfer USDT tokens on. Please note that different exchanges support different networks, and you need to select a network that’s supported both on the exchange you’re withdrawing from and the exchange you’re depositing to.
Since both Binance and Kucoin support TRC20 (USDT on the TRON network), we’ll be using it in this example. Transferring USDT on the TRON network is the cheapest way to transfer from Binance to Kucoin. It is also faster when compared to the Ethereum and OMNI networks.
Make sure that you selected the correct type of token standard, which is TRC20 in our case. TRC20 is the standard used for tokens like USDT that are issued on top of the TRON network. Copy the address provided by KuCoin.
2. Withdraw USDT from Binance to your KuCoin USDT deposit address
If you don’t already have USDT on Binance, you’ll have to deposit some USDT to Binance or buy it on the exchange. Do note that trading fees apply.
How to buy Tether (USDT) on Binance?
Once you have some USDT in your Binance account, go to your Fiat and Spot Wallet on Binance and click Withdraw.
Paste the USDT deposit address you got from Kucoin and select the correct blockchain network you’re going to transfer your USDT on. In our example, this will be TRON, which is labeled as “TRX Tron (TRC20)” on Binance.
You’ll also have to select the amount of USDT that you want to transfer from Binance to KuCoin.
TIP: If you are doing this for the first time, we suggest that you first try with a smaller amount of USDT just to make sure that you’re doing everything correctly. If you successfully receive the smaller amount into your KuCoin account, you can then repeat the same process for the rest of the USDT that you want to transfer.
A 0.8 USDT withdrawal transaction fee will be deducted from the amount you will be receiving. So if your withdrawal amount from Binance is 1000 USDT, you’ll get 999.2 USDT on KuCoin. Once you’ve entered the withdrawal amount and are ready to withdraw from Binance, click Withdraw. The average time for TRON-based transactions to clear is about 5 minutes.
Based on the security settings you set up for your Binance account, you might have to provide an email security code and other security verification options to confirm the transaction. Once you complete the necessary security verification steps, your withdrawal request will be submitted and visible under Recent Withdrawals.
TIP: If you are using the same blockchain address when withdrawing crypto from Binance often, you can save it in your address book. This makes the process much faster, as whitelisted addresses don’t require email security codes and other security verifications for transaction confirmation.
3. Check your deposit on KuCoin
The USDT deposit should be available in your KuCoin account (the address you’ve entered as the withdrawal address in step 2) after a few network confirmations, which usually takes a couple of minutes. The deposit will be added to the Main Account and will be visible under your Deposit History. You can also check out the Tronscan block explorer to track the transaction on the TRON blockchain.
Now that you are familiar with how to send Binance to Kucoin, here is additional information to consider if you’re trying to transfer USDT or any other cryptocurrency between the two exchanges.
Binance account verification
If you hold more than 0.06 BTC worth of cryptocurrency on your Binance account and you’d like to transfer them to another crypto exchange or your wallet, you’ll need to verify your identity (KYC). This also applies if you’re trying to transfer an amount of USDT that’s more valuable than 0.06 BTC.
If you want to learn how you can verify your identity on Binance, we’ve prepared a guide that you can check out here.
Why would you want to transfer crypto from Binance to Kucoin or another exchange?
There are many reasons why you would want to move crypto assets between different exchanges:
- Different exchanges list different cryptocurrencies
- Some exchanges don’t offer all of their services to customers in certain jurisdictions
- Taking advantage of opportunities like lending and staking
- Arbitrage (this is typically viable only for professional traders)
- KuCoin doesn’t require users to complete KYC for daily trades amounting to 1 BTC or less
If you want to transfer USDT from Binance to other exchanges besides KuCoin, see guides below:
Is transferring Tether and other cryptocurrencies from Binance to Kucoin safe?
Transferring Tether (USDT) and other cryptocurrencies is safe as long as you make sure you’re using the proper network (blockchain) on both exchanges and that you inserted the correct deposit address associated with it.
When transferring for the first time, we strongly suggest that you select a smaller amount (for example, 10 USDT) before moving large sums. As always, check that you’re using the correct website (domain name and certificate) and use 2-factor authentication (2FA) as an additional layer of security.
Check our other guides to see how to transfer BTC and ETH from Binance to KuCoin:
Transferring USDT from Binance to KuCoin shouldn’t be problematic, as long as you follow a few precautions. The same basic concept also applies when trying to transfer other cryptocurrencies between these two exchanges. Just make sure that both exchanges support the same asset on the same network (this is especially relevant for USDT, which is available on many different blockchains). Hopefully, this guide helped you move your USDT between exchanges!
At a Glance: Kucoin and Finance both offer access to hundreds of altcoins that are hard to buy or sell on mainstream exchanges such as Poloniex and Bitfinex. They also provide similar services, including a futures market, lending and P2P marketplace.
Cryptocurrency is a very appealing investment because there is such a wide variety of available strategies. Are you going to buy and hold? Are you interested in crypto lending? Is margin trading for you?
Depending on your trading strategy, you will need certain features from your crypto exchange. With so many exchanges out there, how do you choose which one is right for you?
Kucoin and Binance are two well-established crypto exchanges. Even though they use a similar business strategy and have a similar fee structure there are slight differences between the platforms. You will most probably find either Kucoin or Binance will suit your specific needs slightly better.
Below we dive deeper into the details of Kucoin vs Binance so you can see which exchange will be the best choice for you.
Kucoin vs. Binance Overview
Both Kucoin and Binance have a similar business strategy. They are cryptocurrency exchanges that offer access to hundreds of altcoins that are otherwise hard to purchase. They have a similar fee structure, starting at 0.1% and reducing this fee as you move up the trading tiers.
Kucoin vs Binance each have a native cryptocurrency and users are rewarded for holding this coin. They also provide similar services, including a futures market, crypto lending, a P2P marketplace, trading bots, and margin trading.
Kucoin vs. Binance
Now, let’s take a look at the differences between these two crypto exchange platforms.
What is Kucoin?
Kucoin is based in Hong Kong. Originally from China, the crypto exchange had to move after the government crackdown on cryptocurrencies.
Kucoin’s business model centers around having a wide variety of crypto assets that you can use. With a good safety record and a competitive fee structure, it is a solid option if you are looking for a crypto exchange to use.
What is Binance?
Binance is based in Hong Kong. Its business model is very similar to Kucoin, providing access and easy trading across a multitude of crypto assets.
For the lower membership tiers, Binance does not require an ID. If you don’t need to access the higher level of membership, you can maintain your anonymity on Binance.
With over 13 million users, Binance is a very popular cryptocurrency exchange platform.
What’s the Difference?
Kucoin and Binance use a similar business strategy and have a similar fee structure. Most traders would find the range of assets, level of security, and customer support services comparable between the two platforms.
There are however slight differences between the platforms, and you might find either Kucoin or Binance will suit your needs slightly better.
Kucoin and Binance fees both start at 0.1%. This fee percentage decreases as you move up to a higher trading tier.
Kucoin has a more aggressive tier structure, with very competitive fees for higher-tiered users. If you are going to trade large volumes and level up through the tiers, Kucoin is a clear winner. Kucoin also offers dividends of 50% of the exchange earnings on its token.
Binance offers no deposit fees and withdrawal fees depend on the asset. The Binance token is used to pay for fees on the platform. If you think you are going to be a small trader and remain at the low tiers, Binance’s fee structure is better than Kucoin’s.
If you are going to use the futures market, Binance is a clear winner. It has a better taker fee than Kucoin.
Both platforms advertise access to hundreds of altcoins that are otherwise hard to purchase. It should therefore come as no surprise that both Kucoin and Binance have a wide choice of assets.
Binance offers up to 242 altcoins. Kucoin supports 179 altcoins. Although Binance wins through sheer volume, it is unlikely that the average crypto trader will find Kucoin’s selection lacking.
When trading, Binance offers the ability to trade through its token and Tether. Kucoin offers trading with its token and Tether, but also NEO and BTC Cash.
The ability to trade in other tokens makes Kucoin more flexible. But Binance’s fee structure on trades made with its token is competitive.
When comparing assets, you should consider your trading style and choose the platform that matches your needs.
Both platforms support two-factor authentication. They have a good security history and have never been hacked.
Binance, with its larger user base, has reported several phishing attempts. This is not a reflection on the platform. Rather, it is a reminder to users to always double-check that they are visiting the right website. Do not enter your password and information if you suspect a scam. Make sure you enable two-factor authentication every time you are given the chance to.
Customer Service Comparison
Kucoin has incredibly fast customer service. There’s a 24-hour telegram support chat with a quick response rate.
Binance offers customer service through tickets. Although there is a longer waiting time with tickets, the customer service you receive from Binance is still better than most other crypto exchanges.
The real differentiating factor between Kucoin and Binance is how Kucoin has automated trading and lending. Kucoin offers all its users a free trading bot. The bot functions across the regular trading market and on the futures market.
Although Binance does support third-party trading bots, it does not offer a native, free bot.
Kucoin also has a more robust crypto lending platform. It has created a marketplace that connects lenders and borrowers who agree on an interest rate and a time. Kucoin ensures the marketplace, adding reliability and some level of regulation to the process.
While Binance does offer crypto lending, you can only lend from Binance itself.
Kucoin and Binance are two well-established crypto exchanges. They use a similar business strategy and have a similar fee structure. Most traders would find the range of assets, level of security, and customer support services comparable between the two platforms.
There are slight differences between the platforms, and you might find either Kucoin or Binance will suit your needs slightly better.
When Binance is the Better Choice
If you have an interest in obscure altcoins, Binance might be better for you. They offer more crypto assets than Kucoin does. If you are going to be a small volume trader, Binance’s fee structure is more competitive.
When KuCoin is the Better Choice
On the flip side, if you are going to trade large volumes and level up through the tiers, Kucoin is a clear winner. If automated customer service and trading bots are your thing, Kucoin is a good fit. If you don’t mind waiting for a real person to reply to your service ticket, Binance is for you. If your strategy trading depends on crypto lending, Kucoin’s lending marketplace will be a differentiating factor. Remember, no matter which exchange you choose, you still pay tax on your cryptocurrency gains.
There’s no clear winner between these two exchanges. They are both really good and reliable platforms. You should look at the interface of both and see what seems better for you.
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