TL;DR- KuCoin has trading pairs that allow you to swap one cryptocurrency for another. For most cryptos, you will need to trade crypto #1 to USDT (Tether, the US Dollar stablecoin), and then trade USDT to crypto #2. You’ll be using USDT as an intermediary for most your trades. Jump to the how-to section below to get down to business.
It’s no secret that KuCoin is on of the most legit exchanges out there, although FTX and Gemini are probably a little more safe. At least 25% of crypto traders worldwide trade with KuCoin. In a space with a $2.5 trillion market cap, this is an impressive figure.
KuCoin also doesn’t require Know-Your-Customer (KYC) for base-level trading. This is awesome! Crypto enthusiasts unanimously agree that KYC is a total pain in the ass. The downside here is that if you’re in the USA and a handful of other countries, you can’t do full KYC since KuCoin isn’t licensed to operate in the US.
This means you’ll need to use a different exchange like Coinbase or FTX to make your withdraws to your bank accounts.
Let’s get to it.
How to convert cryptos on KuCoin
0. Open a KuCoin account and get it funded. Make sure your trading password is set, too. Fraud and theft are pervasive in crypto- do everything you can to protect yourself so you can keep those epic crypto gains.
1. After logging in to your KuCoin account, click assets in the top right. You’ll arrive at your assets overview page. You’ll see a few different accounts, including main account, trading account, margin account, futures account, and financial account.
2. To trade, you’ll need to have your funds/coins in your trading account. If the funds are not yet in your trading account, hover over your main account or whatever account your funds are in. Select the transfer button, and input the currency and amount you’d like to use to swap for another coin. Make sure the destination account is your trading account. Select confirm.
3. Go to your trading account. In this example, I will be swapping Terra (LUNA) for Avalanche (AVAX), but this process goes for nearly every crypto. The exception is Bitcoin (BTC), which has trading pairs with most coins on KuCoin.
4. In the crypto you’d like to convert from, hover to the right side of that crypto on your trading account home and click trade underneath operations.
The drop down menu displaying after your click show the trading pairs for that crypto, which is LUNA in this case. As shown, LUNA has pairs with ETH, BTC, USDT, and others. If you’re looking to swap to one of these- you’re in luck. There’s no need to convert to USDT and then do another crypto. Otherwise, select LUNA/USDT.
5. You’re brought to the KuCoin trading screen. Don’t freak out. It looks complicated but only takes a few minutes to learn. If prompted, enter your trading password. On the bottom right, look for the spot trading menu with the large sell LUNA red button.
[sell LUNA]
Make your life easier by hitting the market button in the top right of the box. This will automatically get you the best available price when you trade. Enter the amount of LUNA you’d like to sell manually or use one of the 25%, 50%, 75% or 100% buttons to sell all or some of your LUNA for USDT. Click sell LUNA.
6. Within seconds or minutes, you’ll see some boxes pop up on the top left saying your trade placed and executed.
7. Click the Assets menu in the top right and navigate to trading account to get back to the trading view home.
Now it’s time to buy our next crypto with the USDT we acquired from selling the LUNA. As seen below, the USDT balance has increased by the amount of LUNA sold.
8. In the top right of the trading home, click into the search bar and begin to type the name or ticker of the crypto you’re looking to convert to with your USDT. If you’re not seeing the coin you want, Google to make sure that coin is available on KuCoin. To the right of the crypto you’d like to trade, hit the trade button underneath operations. Select AVAX/USDT or that coin’s USDT pair.
9. You’re brought to the trading screen. On the bottom right, select spot and then market for the trading option. Enter the USDT amount you’d like to purchase of AVAX or use the 25%, 50%, 75%, or 100% options. Select buy AVAX.
That’s how you convert cryptos on KuCoin!
If you’re a video person, this 1-minute walkthrough on Youtube is a good example.
Fees
Heavy trader? Reduce your fees by holding at least 1,000 KCS tokens. If you’re a KuCoin user and hold at least 1,000 of KuCoin’s native token KCS, you can get a 10% discount on KuCoin’s trading fees.
Check out their entire fee schedule.
