Kucoin experts - Now that Kucoin is accepting Kadena deposits I mined a few KDA there. I’m brand new to Kucoin and only 6 months into crypto. I’d like to swap KDA for USDC or ??? The goal is to send to a Coinbase to buy a few more miners.
On Kucoin I only see that I can convert KDA for BTC or USDT. Is that the only 2 options?
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If you see only 2 options, then i guess that’s all you get.
CoinMetro let’s you exchange KDA to whatever you wish, US dollar, USDC, LTC, and many more… then withdraw to wherever….
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Thanks, I’ll set up an account and check it out. I’m just surprised with Kucoin being so popular for Kadena ($50M volume the last 24 hrs per miningpoolstats) that it wouldn’t have more options. I wanted to try it first but so far not impressed.
Coinmetro ftw in my opinion. I have noticed fees have been super high when swapping to usdc or usdt however it wasn’t on kucoin and I don’t think it was KDA. But I use coinmetro, swap to btc send to coinbse. It may or may not be lowest cost but it’s simple.
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Is it not expensive to send BTC? (High transaction fees) Why not swap it to LTC instead and send it to coinbase? Much lower transaction fees…
Thanks for the tip. I will give that a shot next time.
I’m curious if the tax implications of instantly swapping out your mined coins for profit. I am also pretty new to this and don’t want to see me get hit with a 40% short term cap gains tax at the end of next year.
Ok so first off KDA optioned to have only those 2 trading pairs, it wasn’t a Kucoin decision. Kucoin makes a Fee from every trade, it is in there vested interest to offer as many trades as possible.
So why only BTC and USDT . Because that is how KDA has chose to be valued. They don’t want USDC or any other wrapped/pre-minted/un-backed coin/token backing the value of their project.
I don’t have any proof to this, it’s just common sense. Many new projects will not opt. for Ethereum as a trading pair. SOL, for instance on Kucoin, only allows USDT pairing so that SOL can fight fluctuating BTC prices and volatility. For a coin/token to be listed on Kucoin they have to meet a strict set of requirements along with financial backing and guaranteed volume by the company/coin/community/foundation that has to be upheld weekly in order to remain on Kucoin as a trading pair.
And to the people saying this exchange or that exchange will pair to whatever trade pair… Yeah, it’s how they make money. By running an algorithm that populates Trade markets with pairs the bot has sourced from another market. If a buy/sell occurs the robot auto converts/swaps the coins/tokens to your preferred currency (at a cost). All cryptocurrency is valued against Bitcoin, any other trade pairing is extra steps, you are paying for. The new USDT backed crypto is a farce, it’s all BTC overall, they just don’t want you holding BTC and holding the “equal value” coin instead, meanwhile they hold all the BTC.
That said, heck I like KDA, it’s going good. I appreciate their integrity to not value themselves in the ERC world.
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So what one would you suggest for what I want to do? Since many of these mining companies (like Goldshell) take Coinbase commerce as well as BTC and other common coin - I could just convert it to BTC and make payment from Kucoin…. maybe I answered my own question.
I’m just not sure if Coinbase Commerce offers any benefit over paying with BTC for instance.
I’m a tad confused, but I think you’re referring to how to transfer or get the Crypto you want. I failed to answer this in my first reply, sorry. From the Kucoin KDA deposit, trade it to USDT, then trade the USDT to USDC. from there you can transfer the USDC over to CoinBase to use . I kind of feel there might be an easier way, I’m afraid to trade from USDT to USDC might give you extra fee’s. I don’t actually use Coinbase (moral reasons) but I believe you might be able to deposit USDT to coinbase and they will swap it to USDC at zero fee/cost. They do that with US Dollars for users, so I would assume they would swap USDT because USDC is their coin, they want you to hold it. I may be wrong, it’s been a while since I accessed CoinBase but I’m sure coinbase has a explanation of coins they will trade for free and why.
Paying with BTC is the most precise way to go as any other crypto (including stablecoins) will have minute fees or %'s they tac on. The kicker here is BTC transfer fee and timing. Very often I pay with LTC if I can, It transfers for .01 or .001 LTC (or less), that’s $1.60 - $0.16 and in about 2-5 minutes. It would be cheaper to trade BTC on Kucoin to LTC and make the payment, due to Kucoins withdraw fee of 0.0005 BTc, even after the trade fees.
Uhhg… I just looked, CoinBase only accepts “Wrapped” USDT as CoinBase is making a major shift and endorsement of the ERC 20 Blockchain (ethereum). So you could not transfer normal USDT into CoinBase but you can deposit USDC.
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Paying with LTC is probably the way I’ll go. I have LTC miners as well. Probably the least fees.
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Not sure if it helps but I was paying by LTC to Goldshell and DXpoolshop and using FTX broaker instead of Coinbase, cause I just hate the coinbase interface 
and LTC has small fees. Another option I use quite often to transfer crypto is USDT via Tron but I think Coinbase is supporting only USDT via Ether so out of luck here.
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You guys keep talking so I can learn! I am so new to this that I am still in diapers. Looking to liquidate other funds to buy a KDA miner. Seems paying the power bill can get complicated. Any advice/info is appreciated!
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I know my reply is a cliché. You are in the right place. I advise people non-stop who are interested in mining and figuring out the intricacies that go with it. To each of them I advise Vosk . I know most don’t take my advice because they come back with more questions. So to you, I offer the best advice I can. Here is a video, the first of your journey, to become a pro. Watch, watch and watch some more, before you know it you will be answering other peoples technical questions and have insights about crypto that will surprise even you. Cheers Friend.
Thank you! …what do you know about staking? 
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I’m probably the wrong person to bring to the Staking party. I’m a Bitcoin Fundamentalist. To me, Staking is just Usury. Nothing is for free, for someone to receive a staking reward another paid for it, usually the User. So unsuspecting users are paying % fees not to the blockchain but to people who make money off their money … One of the exact concepts Bitcoin was created to fight. But, my morals/thoughts aside.
I like to start this topic talking about reward tokens, which became Utility tokens. A good example is NEO. For owning NEO you receive a portion of gas created by the blockchain to be used to pay for transfer fees and as a stand alone traded token. It evolved in many ways, BNB KCS started giving rewards for holding, things kind of blossomed in the ICO token/pre-mined era. From there the rewards also became based off of an ICO company’s performance and “utility” tokens. Then leading into smart contracts and Blockchains coding staking in and Hosting Nodes becoming a thing. So what a Stake is varies greatly. A user may not read the fine print or know what the Staking Smart Contract they are entering into is. Then enters Automatic Market Makers and Sub-Market making clubs sponsored by exchanges made up of random (qualified) volunteers creating and using Smart Contracts to set prices. Along with ERC creating coins like there is no tomorrow and a Smart Contract Army made up of opportunist flooding the blockchains. Worth throwing into the pile The Ape Army, they have a hand in all this.
What you probably want to know is where and some options. Investments are best learned and determined after you study. So I’ll tell you some start points. Kucoin and Binance exchanges, and yes I know they don’t have the best % rates. But you can trust those 2 to teach you right and not play games with your money. On that note, they both offer paid classes to learn how to stake (they pay you).
I hope this helps to put the picture together. Don’t mind my “Bitcoin Fundamentalist” BS . Vosk videos will cover all of this from the beginning to now, it all ties into mining.
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Absolutely nothing wrong with being a fundamentalist. Thank you for the info, especially since it goes against the grain.
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