As of yesterday, the ability to request KUCOIN withdrawal from PUBLISH0X is now live! Not only does this feature give you a 10% bonus over the on-chain payout method, but it also lowers the payment threshold.....But how do you actually request a KuCoin withdrawal instead of an on-chain withdrawal and what can you do with your crypto once it arrives on KuCoin? This article is intended to 1) serve as a guide for requesting a KuCoin withdrawal and 2) explain some of KuCoin's features for people who may be using it for the first time.
First off, I have to say that the official guide put out by the Pubish0x team is top notch at showing you how to request a withdrawal to KuCoin, so I want to give them full credit for showing how simple the process is. However, I thought that some people may benefit from a video guide to making the withdrawals as well as a little bit of a tutorial showing what they can do with their crypto once it arrives on KuCoin.
After clicking on withdrawal, we are given the option of making an on chain withdrawal or KuCoin. For this demo, we want to select KuCoin, but the choice is yours depending on your situation.
However, to use this method, we must enter our KuCoin ID. To find the KuCoin ID, we can log into our KuCoin main account page here. Our ID will be displayed directly beside the circle with numbers inside it.
After we find our ID, we copy and paste it into the KuCoin ID field under the Publish0x withdrawal request. Even though this is a user ID and not a public key, the same security precautions apply. Make sure you have copied this correctly as Publish0x will not be responsible if you make an error. DOUBLE CHECK!
From there, we can confirm the withdrawal and wait for the funds to arrive.
So What Now?
After we have requested our funds, we have two important questions.
- 1) Where are my funds?
- 2) What can I do with my crypto on KuCoin?
Checking to see that we have our funds is simple and we can easily click on the assets tab on our account to see our total balances reflected both in fiat as well as an equivalent amount of USD. Clicking on the drop down arrow will show us a sorted list of our funds by crypto type and amount so we can verify what payouts we have received.
Lending Crypto
After we have our funds on KuCoin, we have a variety of options available including trading for other cryptos, lending, staking, withdrawing, etc. We have the option of lending our ETH and earning a return by using the "earn" feature, however, I do have to point out that a certain minimum amount of ETH may be required to use this feature. If you can't meet the minimum ETH requirement, you can "Auto-Lend" your ETH with a lower balance. NOTE: You may have to check a pop up box that says "Enable Margin Trading" to use the lend feature.
Trading Crypto
As KuCoin is an exchange, we obviously have the option of trading for other cryptos. This is important for two reasons. First, the minimum withdrawal requirement is about .01 ETH ($17 USD), so we may want to trade to a coin with a lower withdrawal requirement such as XLM (.04 USD) or TRX (.06 USD).
Secondly, some staking/earning features are available for altcoins that may not be available for ETH. Regardless of the reason we want to trade, the process is simple but will require us to move our funds from the main account (where our Publish0x withdrawal will go by default) to a trading account. We can do this by simply going to our main account and transferring to our trading account.
Once we have transferred to the trading account, we can see all the available options for ETH trading by going to the market tab and entering the coin that we have. Since I have ETH, I enter ETH and can see the pairs that I can trade to. Make sure that you have selected the box that says "All" so you can see all the pairs.
Once we find the pair we want, we simply click on it and we are taken to the trading dashboard. Although it can seem intimidating at first, all we really need is the small little box in the bottom right hand corner that allows us to place a market order. Simply click to select "market", enter the amount you want to trade, and confirm. The transaction is processed almost instantly, and the market order makes sure you get the "going" rate for your coins.
Those funds will arrive in your trading account and can then be transferred to your main account for staking, earning, or simply to withdraw.
Summary
The partnership between Publish0x and KuCoin is something that will hopefully benefit users and help them avoid high gas fees. Although this is something I have talked about before, I wanted to actually go through the steps of HOW to request the withdrawal as well as showing you some of the things you can do with your crypto on KuCoin.
As always, thanks for reading and nothing is financial advice.
References
https://www.kucoin.com/?lang=en_US
