Crypto Invest

5 Steps To Transfer UST Or LUNA From KuCoin To Terra Station

Kucoin To Terra Station

Last updated on November 23rd, 2021

After you’ve bought some LUNA or UST on KuCoin, you may be wondering how to transfer it to Terra Station.

This is especially if you want to earn a high yield on your UST with the Anchor Protocol!

Here’s a guide on how you can do so:

How to transfer from KuCoin to Terra Station

Here are 5 steps you’ll need to transfer your crypto from KuCoin to Terra Station:

  1. Obtain your Terra Station wallet address
  2. Transfer your currency from the Trading Account to the Main Account
  3. Go to your Main Account and select ‘Withdraw’
  4. Enter the transaction details
  5. Receive your crypto in your Terra Station wallet

Obtain your Terra Station wallet address

The first thing you’ll need to do is to obtain your Terra Station wallet address.

This can be done by using either the Terra Station app, or the Google Chrome extension.

On either platform, you can click to determine the deposit address. This is where you’ll be sending either LUNA or UST to.

Terra Station Obtain Withdrawal Details

Transfer your currency from the Trading Account to the Main Account

If you have traded another cryptocurrency to LUNA or UST (such as USDT), the crypto will be in your Trading Account.

You are only able to withdraw cryptocurrencies that are in KuCoin’s Main Account, so you’ll need to transfer your crypto there.

There are no fees when transferring between these 2 accounts!

To do so, you will need to go to ‘Trading Account‘,

KuCoin Select Trading Account

And then select ‘Transfer‘.

KuCoin Transfer To Main Account

You can select the currency (UST or LUNA) that you wish to transfer to your Main Account.

Go to your Main Account and select ‘Withdraw’

After transferring your crypto to the Main Account, it is now time to withdraw your funds.

You will need to select your Main Account,

KuCoin Select Main Account

and select the currency that you wish to withdraw. In this case, I am intending to withdraw UST to Terra Station.

KuCoin Withdraw UST

Enter the transaction details

Once you’re on this page, you will need to enter the transaction details.

KuCoin UST Withdrawal Details

This is where you will be pasting your Terra Station withdrawal address under the ‘Wallet Address‘ section.

A memo is not required if you’re transferring to Terra Station.

Terra Station only accepts deposits made via the Terra network. As such, do choose the Terra network, and not the ERC20 one!

If you choose to withdraw via the wrong network, your crypto may be lost forever!

You will need to select the amount of LUNA or UST that you intend to withdraw too.

The last step you’ll need to do is to confirm your withdrawal.

KuCoin Tamper Proof Confirmation

Receive your crypto in your Terra Station wallet

Once the withdrawal has been processed, you should receive your crypto in the Terra Station wallet.

Terra Station Receive UST

When you are depositing either LUNA or UST to Terra Station, you will be using the exact same address. Terra Station will automatically detect the currency that you’ve deposited, and will create the balance accordingly.

What are the fees for transferring from KuCoin to Terra Station?

Here are the fees when you are withdrawing from KuCoin via the Terra network:

CurrencyWithdrawal Fee
UST4 UST
LUNA0.1 LUNA

KuCoin is one of the few exchanges where you can buy UST, particularly in Singapore. As such, there are not many cheaper options as Gate.io charges you 5 UST for a withdrawal.

However, there are some platforms such as OKEx which charge a much lower fee (0.016 LUNA). It may be better to buy LUNA on these platforms, as the fees on KuCoin are rather high!

Conclusion

KuCoin is one of the platforms which supports both UST and LUNA on the Terra network. This makes it a great platform to use if you are either thinking of:

  1. Sending UST to the Anchor Protocol
  2. Sending LUNA to stake on Terra Station

You are also able to use KuCoin as a bridge when sending UST or LUNA from Gemini. This is because Gemini only supports the ERC20 version of UST and LUNA, while KuCoin supports both the ERC20 and LUNA versions.

However, the withdrawal fees for LUNA are rather high, and it may be better to buy LUNA on an exchange that offers lower withdrawal fees!


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