Can I Withdraw from KuCoin to My Bank Account?
Trading cryptocurrency is growing more popular, and one of the many exchanges available to trade digital currency is KuCoin. If you have a KuCoin account and wish to "cash out" or withdraw your funds, you may be wondering how. Can you withdraw from KuCoin to your bank account? You can get more information on KuCoin's terms and conditions by contacting customer support here, and below is information on withdrawing funds from your KuCoin account.
Making KuCoin Withdrawals
Can you withdraw funds from KuCoin directly to your bank? The short answer is no. KuCoin does not allow withdrawals from its exchange directly to you bank account, but that is not the end of the story. It is still possible to withdraw your funds from your KuCoin account to be placed in your bank account.
In order to withdraw funds from KuCoin to go into your bank account, you need to transfer tokens from KuCoin to another exchange that is directly linked to your bank account. It's important to make sure the asset you are transferring out of KuCoin is accepted at the exchange or wallet you are moving it to.
Also, KuCoin does charge a transfer fee; however, its fees are comparable to those of other exchanges. Fees vary depending on the exact type of cryptocurrency you are dealing with.
Transferring Assets
You can transfer assets from your KuCoin account to another wallet on your computer or your mobile device. To transfer assets from KuCoin for conversion to be deposited, follow the steps outlined here.
- Open KuCoin in your browser or on your phone or tablet, then log into your account.
- From the menu, click "Assets."
- Select "Withdraw."
- Next, select a token from the drop-down menu. Double check the wallet you are using for the transfer to make sure it accepts that particular token.
- Make sure you are making at least the minimum withdrawal.
- Complete the two-factor authorization process to verify you are the authorized party on the account. To complete the 2FA, do the following:
- Enter your six-digit password.
- Submit your email address. Make sure it is the one attached to your KuCoin account.
- Check your email for the verification code. Enter the verification code.
- Note: The verification code will only be good for a short amount of time. If you do not enter it before the time limit expires, you will have to repeat the 2FA process.
- Complete the withdrawal.
- Double check to make sure the receiving wallet credits that account with the transferred tokens.
Making a Direct Deposit
Once you have completed the token transfer to another wallet or exchange, follow the procedures for that particular entity to deposit funds into your bank account.
While KuCoin does not support direct deposits of assets, it is still possible to withdraw funds from your account for deposit. For more information on KuCoin and account transactions contact customer support here.
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