Fellow Binancians,
Binance will list Kadena (KDA) and will open trading for KDA/BTC, KDA/BUSD and KDA/USDT trading pairs at 2022-03-11 11:30 (UTC).
Users can now start depositing KDA in preparation for trading
Withdrawals for KDA will open at 2022-03-12 11:30 (UTC)
This will make it so much easier to mine into a Binance wallet to make liquidity faster and easier!
when binance us though
fortunately kucoin has re-enabled support for kda deposits
What about coinmetro? I tried to signup but am stuck on KYC. When I get to the selfie part it won’t take my picture.
It’s not on Binance.US though, which is the majority of what this forum’s audience uses. Very unfortunate but typical Binance move
I’d caution against Coinmetro. I formally thought Coinmetro was fine. Not so much now.
I went through the KYC process a while back. Provided passport pics, selfie etc. Over the subsequent months, I was able to receive some KDA and FLUX into my new Coinmetro account. No warnings about KYC incomplete or other docs required. Zero, zilch, zip.
Then a couple of weeks ago, I tried to transfer some FLUX to my Kucoin account. All transfer attempts failed (without reason given why the transactions hung). I followed up by trying to x’fer some token amount of KDA to Zelcore wallet. Again, all attempts failed.
I then received a notice from Coinmetro that I needed to complete KYC - the same KYC that I thought I had completed months prior. They wanted a copy of a utility bill to prove my address. Fine. I uploaded a PDF of my most recent electric bill that I had downloaded from the company’s web site. Several days later, they (based in Estonia) had the gall to say that the PDF that I had sent wasn’t for a “real US electric bill”. I wrote back, told them that it indeed was and referred them to my electric co’s web site.
Several days passed and my KDA and FLUX were still being held hostage. Coinmetro stopped asking me for a copy of a utility bill but wrote back and said that I was using a VPN, which violated Coinmetro’s user service agreement (I had no idea; I get that it was in the agreement but seriously, everyone reads every word of those things?). But I always use a VPN and have to actively shut it off. Coinmetro then asked what I was doing in a certain European country. Finally, it dawned on me. My wife uses the same PC and switches the VPN to her country on occasion so that she can watch local media. So Coinmetro got confused by the (partially?) KYC’d American “living” (or vacationing) in central Europe.
I explained the above to them and they said that they’d get back to me. It’s been crickets since.
Bottom line is to use Coinmetro only if you understand the risks, i.e. that they will lockup your coins if you run afoul of some fraud algo (as will Gate.io and Binance.com). And God forbid if you forget to shutoff your VPN while trying to access your Coinmetro account. Anyways, it apparently doesn’t matter if they’re wrong or not.
It’s a good thing that my $$$ tied up there isn’t that much. Otherwise, I’d be truly pissed.
Glad I read this, I am currently creating a coinmetro and Kucoin wallet to mine my KDA into “to cash out to bank weekly”. I have been stuck on the verifying ID part. Is coinmetro the only wallet your using? I do not run a VPN but am scared because it seems coinmetro has lots of bugs. I honestly wish Binance US would accept KDA to make things easier.
I mine to a Zelcore wallet. I’ve only sold enough KDA to cover the initial cost of my KD5’s and haven’t sold any additional KDA since December. When I did, I used Kucoin.
Even Kucoin has had its issues. For a while, it could only support Chain 1. When I mine directly into the Zelcore wallet, it’s received in Chain 0. In the past when I wanted to send KDA to Kucoin, I had to first convert from Chain 0 to Chain 1 using Zelcore. It was straightforward to do so, but if one forgot this step and tried to send their Chain 0 KDA tokens to Kucoin, their KDA tokens would disappear. Fortunately, this issue has been fixed and Kucoin now can handle all KDA chains.
But one issue that still continues to popup from time to time is when Kucoin upgrades their KDA wallet. When this upgrade is in process, sending/receiving KDA can be disabled for weeks. It’s happened at least 2x that I know of. The last time it happened, send/receive were disabled for ~3 weeks. Just something to be aware of.
Agreed that KDA really needs to be on Binance US as well as Binance.com. Being on Coinbase also would help immensely from the standpoint of a fiat on ramp.
Thanks so much for some valuable insight! Really helps me plan this out. So basically you are mining into Zelcore wallet JUST IN CASE KuCoin updates and does not allow deposits in our out for weeks. But you only use KuCoin to sell your KDA from your Zelcore wallet to pay for equipment/electric cost correct?
This also let’s me know I need to keep cash liquid in a checking account to pay for loans and electricity just in case KuCoin has a 3 week update problem again. This i highly appreciate on planning things out! Thanks Zilina!
@Carl_Canady Carl, I mine to and hold in Zelcore wallet because I don’t need to sell my KDA as I’ve stopped investing in new equipment and have other sources to cover daily expenses. Regardless of the token, I always mine to soft wallets, not CEX’s. That Kucoin can halt x’fers in/out for KDA is another reason to do so, but it was never my primary reason. And fwiw, Zelcore is far from perfect and has had its share of bugs, but I’ve never lost a single KDA token mining directly to Zelcore.
Once your KDA is in Kucoin, there’s no issue to sell to BTC, USDT etc. - or at least I don’t recall this being a problem. It’s really just the transferring of KDA that occasionally can become an issue, e.g. x’fer from Coinmetro or Zelcore etc to Kucoin or vice versa.
I do think that Kucoin finally does have their sh*t together from a KDA wallet perspective. E.g. as of right now, there appear to be no issues sending/receiving KDA to/from my Kucoin account. When there is an issue, your “Main” account will show the “withdraw” and “deposit” links as being grayed out.
and it also makes the price of K1+ goes up
ya, it is. But another thing, suppliers: KDA will be goes up because of Binance listed Kadena, price of KDA machines up again. Some think it’s unreasonable.
do you think it will be listed on Binance US later?
alright, so do I haha
Not sure I understand y it will be crazy because of a listing unless all u are trading kda u will need the trading volume to go crazy and my opinion the crazy for kda might be gone but I could be wrong but I think it’s been listed already and nothing really happened
It seems that there is really no big change now, but many people who own k1+ hope it crazy again, so do I haha.
Okay I understand all that information. I created a Zelcore wallet and did a lot of research on the platform. Actually kind of like the zelcore platform as they have wallets organized. I am also going to look into hotbit.io too. So far I have a Kucoin, coinex and zelcore wallet made. With those liquidty should be obtainable! Thanks for your insight @Zilina!
Don’t use hotbit. I’ve heard many horror stories regarding this exchange because they halt deposits without any notification. It would be impossible to reach customer service if you run into any problems. I’d say either go with kucoin or gate.io and hopfully wait until kda gets listed on binance us. It’s best to just send your kda to your zelcore wallet and send it to various exchanges afterwards.
I actually JUST got off the phone with someone who is mining KDA and they recommend Gateio too! With both of you recommending it I will definitely look into that wallet! Thanks @cryptominernv!