If you own cryptocurrency, you can swiftly move it from one wallet to the next or on and off a crypto exchange without involving a middleman.
In this guide, you are going to learn how to move your cryptocurrency from Coinbase to Kucoin in just a few steps.
In order to proceed, you will need KYC compliant accounts with Coinbase and Kucoin, meaning your ID has been verified and you have been cleared to trade and move digital assets.
Once your accounts are verified, can login and start the transfer.
Let’s get started.
First thing you need to do is login to your Coinbase account and access your crypto wallet to locate which coin you want to withdraw.
In this example we are going to choose XLM.
There is 140 XLM in the Coinbase account and next I need to make sure Kucoin has an XLM trading pair and will accept the XLM deposit.
This can be confirmed this by visiting the Kucoin wallet section in the dashboard and search for the coin you want to deposit.
Note: Unless there are specific instructions to add a memo, you can just paste the crypto wallet address. In this case, XLM requires a memo but most coin transfers will not require it.
Make sure to copy the address and memo and paste it on the withdrawal screen inside Coinbase.
As soon as you click Send Now, the order is sent and the transaction will begin processing. The transactions occur on the blockchain and typically happen quickly (after 10 confirmations) but depending on network activity, the transfer may be delayed.
You can always visit the block explorer to check the status of the transaction if it’s taking longer than expected.
Once the transaction is confirmed on the blockchain, you will get a notification from Kucoin indicating your deposit has been completed and is available for trading.