- KuCoin is a popular crypto exchange that doesn't offer a simple crypto selling option for fiat currency. However, there is a way to sell your crypto and withdraw your money from KuCoin.
- You need to choose a legitimate cryptocurrency exchange, open an account, complete verification, transfer crypto from KuCoin, and then sell your crypto for fiat.
- Kraken is one of the top three best crypto exchanges for selling crypto, and in this article, it is used to demonstrate how to sell on KuCoin.
- The five steps involved are selecting a cryptocurrency exchange, opening an account, completing verification, transferring crypto from KuCoin, and selling your crypto for fiat.
KuCoin is one of the world's biggest and most popular crypto exchanges. It has plenty of features for beginner and advanced traders, but with its heavy focus on high-volume crypto trading, it doesn't offer a simple crypto selling option. If you have Bitcoin (or other crypto) in your KuCoin account, you cannot sell it for fiat currency. You can only trade your crypto for other coins on the exchange. For example, you could trade Bitcoin for USDT (which is linked to the US Dollar).
But don't worry, your money isn't stuck in KuCoin! We have a simple solution for you to sell your crypto and withdraw your money from KuCoin.
How do I sell my crypto on KuCoin?
To sell your cryptocurrency on KuCoin, you will need the aid of another cryptocurrency exchange that allows sale of crypto assets. You will transfer your crypto from KuCoin to the other exchange, and then you can sell your coins there.
It may sound complicated, but in reality it is very easy to do. In this article I will walk you through the 5 steps you need to follow to sell your crypto. I have included loads of screenshots too so you won't get lost along the way.
Step 1: Select a cryptocurrency exchange
Step 2: Open an account
Step 3: Complete verification
Step 4: Transfer crypto from KuCoin
Step 5: Sell your crypto for fiat
Step 1 - Select a cryptocurrency exchange
The first thing you need to do is choose a secure and legitimate cryptocurrency exchange. It needs to accept crypto deposits, and support selling crypto. We have sorted through dozens of crypto platforms and come up with this list of the top 3 best crypto exchanges for you to sell crypto. In this article, I am using Kraken (read review) to demonstrate how to sell on KuCoin. The reason I use Kraken is that it is supported in many countries globally, including the US, it is easy to use, and it even has 24/7 live chat in case you have issues. I will include screenshots from my Kraken account in this guide, so to follow along easily, it is better if you register with Kraken.
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Step 2 - Open an account
Once you have decided on a crypto exchange, you need to open an account. To sign up with Kraken, click here: https://r.kraken.com/ which will direct you to the homepage. Click 'Create Account' in the top right corner, and your screen should look like the screenshot below. Type in your email, create a username and password, choose your country and state/province, then click 'Create Account' underneath.
Step 3 - Complete verification
When you sign up to Kraken, the site will usually direct you to verify your identity immediately. To deposit crypto and sell it, you have to verify up to the 'Intermediate' level, by submitting some personal information. Dont' worry, the verification process doesn't take too long. If you do not see the automatic verification, click on your name in the top right corner, click 'Get Verified' (shown by the red box below), and then click the 'Verify' button to start the process.
Step 4 - Transfer crypto from KuCoin
After verifying your identity on Kraken, it's time to transfer crypto from KuCoin so that you can sell it. To do this, first we need to click on 'Funding' in your Kraken account (circled in red in the screenshot below). Then click on the purple 'Deposit' button (circled in yellow in screenshot below). You should see a pop-up like in the image below. Type in the cryptocurrency you wish to transfer from KuCoin. In this example, we are going to transfer USDT (Tether).
When you search for your cryptocurrency, you will see a list of assets underneath. Click on the relevant coin that you are going to transfer - in this case it is Tether USD. You will be directed to a different screen, like the one below. Select your deposit method (for USDT, I suggest TRC20 because the fees are only 1 USDT), and then click 'Generate deposit address', to create an address for your first deposit. If you want to transfer more USDT later, you won't need to generate another address as you can use the existing one.
You will see a sequence of characters, which is your deposit address (covered by the red rectangle below). Click the 'Copy deposit address' button at the bottom to copy it.
Now sign into your KuCoin account, then click the Wallet icon in the top right corner (shown by the arrow below). When the dropdown menu appears, click 'Main Account'.
Then click on 'Withdraw' (shown by arrow below), and your screen look similar to the screenshot below. Select the cryptocurrency to transfer to Kraken. In this guide, we want to transfer USDT, so that is selected. In the 'Wallet Address' field, paste the address that you just copied from Kraken earlier. This is shown by the blue rectangle in the screenshot below. Select your Network that you are using for the transfer. As I stated earlier, if you wish to transfer USDT, use TRX (Tron), which is the TRC20 network, saving you money on fees.
Type in how much you want to transfer to Kraken (I did 500 USDT in this guide), and then click 'Withdraw'. You will see a confirmation screen appear. Double-check that you have entered the right information, and once you are ready, click 'Confirm Withdrawal'.
Step 5 - Sell your crypto for fiat
It can sometimes take crypto 30 minutes to transfer from KuCoin to Kraken, although usually it is quicker. To see if your crypto is in your Kraken account, click 'Funding' in the menu along the top, and then scroll down until you see your list of Crypto Assets. In the image below, you will see that 500 USDT is now in my Kraken account. This means we are ready to sell our crypto.
Along the top of the screen, you will see a 'Buy Crypto' button. Of course, we are looking to sell crypto, but this is the quickest way we can get to the sell crypto page. Your screen should look like the one below. Click the 'Sell' button underneath your account balance.
Your screen should now look like the image below. Choose how much of your crypto you want to sell. If you want to sell it all, click the 'Max' button. This is what we did in our example. When you are ready, click the 'Review' button underneath.
You will see a confirmation screen, showing you the amount of crypto you are selling, the amount of fiat currency you will receive, and the fees. After checking your details are correct, click on 'Confirm'.
Congratulations, you have managed to sell your crypto on KuCoin, using Kraken!
How do I withdraw from Kraken?
It is simple to withdraw your money from Kraken. Click on 'Funding' in the menu at the top, then next to your fiat currency (in our case, US Dollar), simply click the 'Withdraw' button (see red arrow in image below).
You should see a screen like the image underneath. Choose which method of withdrawal you wish to use from the dropdown selection box, and then click 'Continue'. Add your bank account details there, and then you can withdraw your money from Kraken to your bank.
Remember that Kraken has live chat support that is available 24/7, so if you are lost, reach out to them, and they can help you immediately.
Frequently Asked Questions:
How to sell on KuCoin to USD?
KuCoin does not support sale of crypto for USD. However, it is easy to get around this by using a separate crypto platform, such as Kraken. Follow the steps above, and you will be selling your crypto to USD in no time.
Why can't I sell on KuCoin?
KuCoin has a heavy focus on cryptocurrency trading and does not have functionality for selling crypto for fiat currencies. Not to worry, if you use our article, you will learn how to easily sell your crypto by transferring it to another crypto exchange, e.g. Kraken.
How to sell USDT in KuCoin?
On KuCoin you can trade from one cryptocurrency to another, but you cannot sell it for fiat currencies. This means that you cannot sell USDT directly from KuCoin. The best thing to do if you want to sell your USDT is transferring it to another crypto platform - we recommend Kraken. On Kraken, you can sell the USDT that you transferred from KuCoin, and then you can withdraw your fiat currency to your bank.
How do I sell my KuCoin assets?
KuCoin does not support sale of crypto assets; it only allows trades between assets. If you want to sell your assets to withdraw money, the best thing to do is to transfer them to a separate crypto exchange (eg: Kraken). When your crypto assets are transferred to Kraken, you can sell them there for USD or other fiat currencies. Follow the steps in this article to learn how to do so with screenshots to assist you.
Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.