When transferring cryptocurrencies between platforms, you may have seen that the withdrawal fees can be really high sometimes!
One method to reduce your transaction fees is to withdraw using another network with less congestion, such as the TRC20 network.
Here’s how you can send cryptocurrencies from Binance to KuCoin using the TRC20 network.
How to transfer from Binance to KuCoin using the TRC20 network
- Obtain the TRC20 deposit address from KuCoin
- Select the cryptocurrency that supports TRC20 network withdrawals on Binance
- Enter the transaction details and confirm the withdrawal
Obtain the TRC20 deposit address from KuCoin
First, you will need to go to the ‘Main Account‘ tab on KuCoin.
Once you’re in the Main Account section, you’ll need to choose the currency that you wish to transfer.
In this example, I will be using USDT as an example.
After selecting ‘Deposit‘, this will bring you to view all of the possible networks you can use to deposit USDT to KuCoin.
You will need to select ‘TRC20‘ to view the TRC20 network address.
For cryptocurrencies that are native to the TRC20 network such as TRX, you will only be able to deposit them via the TRC20 address.
If you would like to obtain the TRC20 deposit address from Binance, you can check out my guide here.
Select the cryptocurrency that supports TRC20 network withdrawals on Binance
For the next step, you will need to send the cryptocurrency from Binance using the TRC20 network.
On Binance’s platform, you will need to go to ‘Wallet‘, and then ‘Fiat/Spot‘.
You will need to select the cryptocurrency that you wish to withdraw. In this case, I will be using USDT.
Enter the transaction details and confirm the withdrawal
After clicking on ‘Withdraw‘, you can paste the deposit address that you’ve obtained from KuCoin, and select the network that you wish to withdraw.
If you’ve pasted a TRC20 deposit address, Binance should automatically detect it and remove all the other networks that you can use to withdraw USDT from.
The last part will be to enter the amount of USDT you wish to withdraw.
You will be able to see the network fee that you’ll incur too.
After confirming the transaction, you should receive USDT in your KuCoin account.
Which currencies can I send from Binance to KuCoin using the TRC20 network?
Here are 5 currencies that you can send from Binance to KuCoin using the TRC20 network:
On KuCoin, you may have noticed that you are able to receive deposits of ETH and BTC using the TRC20 network.
However, if you look at the networks that are supported on Binance, you will see that Binance does not support the TRC20 withdrawals of these cryptocurrencies.
As such, you will not be able to send BTC or ETH from Binance using the TRC20 network.
What are the fees to transfer from Binance to KuCoin using the TRC20 network?
Here are the fees that Binance charges you for TRC20 withdrawals from their platform:
The fees to transfer both USDT and USDC are much lower when using TRC20, compared to other networks like ERC20!
When sending cryptocurrencies via the TRC20 network, it is important to double check that both Binance and KuCoin support TRC20 withdrawals and deposits of that currency.
If only one platform supports the TRC20 network for that particular currency, you will not be able to use this network to send the currency over!
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