QUESTION
What is the cheapest method for transferring funds from KuCoin to Binance?
ANSWER
As of the knowledge cutoff in early 2023, to transfer funds from KuCoin to Binance at the cheapest cost, one should typically look for a cryptocurrency that has low withdrawal fees on KuCoin and low or no deposit fees on Binance. After finding such a coin, you'd withdraw it from KuCoin by inputting the appropriate deposit address from your Binance account for that specific currency. One frequently recommended way to minimize costs is by using a cryptocurrency designed for low transaction fees, such as a stablecoin like USDT, using the TRON network (TRC-20) due to its significantly lower fees compared to other networks like Ethereum (ERC-20). It's essential to ensure that both exchanges support the selected network for the chosen coin. Once transferred, the user can trade the stablecoin for their currency of choice on Binance without incurring high transaction costs.
EXCLUSIVE OFFER