Key Takeaways

• KuCoin does not allow AUD withdrawals from their platform.
• To withdraw your money you need to transfer your cryptocurrency to another exchange that supports fiat withdrawals, (e.g. Swyftx) and sell it there.
• Follow the simple steps in this article to withdraw your money from KuCoin to your bank.

Step 2 - Create an account

The process is easy to create an account with Swyftx. Click on the following link: https://trade.swyftx.com/ and you will be taken to Swyftx's registration page, as shown below. You will notice a promo code automatically applied. This will give you $20 FREE Bitcoin when you create your account, even before you make a deposit.

Enter your details, phone number, email address, and continue with the steps to create your Swyftx account.

Step 3 - Verify your account

When you create your account, Swyftx should have automatic prompts for you to verify your account. You will need to verify your email, phone, and identity. If you skipped this part, and you need to verify your account now, click on your initials in the top right corner (as shown by the arrow in screenshot below), then click 'Verification'. You will be taken to a screen like the one below, and you can verify your email, phone, and identity there.

Step 4 - Send crypto from KuCoin to your new crypto exchange

Once your account has been verified, you can send the crypto from your KuCoin account into your Swyftx account. Click on the 'Deposit/Receive' button (as shown by arrow in screenshot below), then a pop-up will appear, as shown in the screenshot below. Select what crypto you want to send from KuCoin, in this guide, I will use USDT as an example. 

After you select the crypto you want to send to Swyftx, a different pop-up will appear (shown below). Select the network you wish to use. For USDT, I recommend using Tron (TRC20) as it incurs the lowest withdrawal fees on KuCoin (just 1 USDT). You will see the wallet address (covered by the blue rectangle in screenshot below). Copy that address, and sign into your KuCoin account.

In your KuCoin account, click on the Wallet icon (shown by the first red arrow), then click on 'Main Account' (shown by second red arrow).

Next, click on the 'Withdraw' button, as shown by the arrow in the screenshot below. Select the coin you wish to transfer to Swyftx (in this example, we use USDT). Paste the Wallet Address that you copied from Swyftx in the appropriate field (shown by the blue rectangle below), and select the appropriate network (TRX if you followed my instructions from above). Type in the amount you wish to send to Swyftx, and then click the large green Withdraw button underneath.

Note: KuCoin has daily withdrawal limits, which vary based on your verification level. Check that the amount you wish to withdraw is within the limits.

Step 5 - Sell crypto for AUD

Your cryptocurrency can take up to 30 minutes to arrive in your Swyftx account. You can check whether it has arrived, by clicking on the Wallet icon (shown by the arrow in screenshot below), and looking at the Wallets list at the bottom of the screen. In the screenshot below, you can see there is 499 USDT that has arrived in my Swyftx account. Once your cryptocurrency has arrived, you can sell it for AUD. 

Click on the 'Trade' button (shown by the red arrow in the screenshot below), and you will see a screen similar to the one below. On the right hand side you can choose which coin you want to Trade From (in this example, USD Tether), and Trade To (select Australian Dollars). Select the amount you wish to trade, and then click 'Review order details' at the bottom. You will see a confirmation screen, where you can click 'Place Order' to finalise the trade.

If you return to your 'Wallets' page, you should see that your Australian Dollars wallet now has money in it.

Step 6 - Withdraw your AUD into your bank account

Now that you have successfully sold your crypto, you need to withdraw your money from Swyftx into your bank account. Click on the 'Withdraw/Send' button (shown by the red arrow below), and then a pop-up will appear. Enter Australian dollars in the field at the top, then click 'Select an account'. You will need to click 'Add a new account' to add your bank details.

After you have added a bank account, select the amount to withdraw, and the reason, then click 'Continue' at the bottom. The best part of this is that Swyftx does not charge any fees for withdrawing AUD to your bank. Congratulations, you have managed to withdraw money from KuCoin to your bank account (via Swyftx)!