Choosing the Correct Transfer Network

When you’re ready to deposit or withdraw cryptocurrencies, it’s important to choose the correct network for your transactions. Otherwise, failing to do so may result in the loss of your assets. Such a mistake is similar to sending an email to the wrong address or transferring funds to the wrong bank.

 

How to Choose the Correct Network

 

1. Pay attention to the asset you’re dealing with

Different cryptocurrencies circulate on different networks. After selecting a coin on KuCoin, a list of supported networks will appear on the page.

 

2. Choose a network supported by both platforms

When choosing a deposit network, the withdrawal network of the other exchange or wallets must be consistent with the one used by KuCoin for your deposits. For example, if you choose USDT-ERC20 as the deposit network, then the withdrawal network must also be USDT-ERC20.

Similarly, if your recipient’s address requires USDT-TRC20, then you must also select the USDT-TRC20 network for the withdrawal on KuCoin.

 

3. What to do when both platforms support multiple networks

This is common, especially with assets like USDT, which are supported by multiple networks on most exchanges and wallets. Consider the following factors to help you decide:

Network Status

When a network is currently busy or suspended, KuCoin commonly displays these notifications on the page. If you initiate a deposit while the network is paused, the asset will be credited normally once it is up and running again.

Transfer Fees

Different networks have different transaction fees (gas fees). KuCoin displays real-time fees in the network list to help you decide.

Transfer Speeds

Some networks, like Bitcoin, have longer confirmation times. If you need quicker transactions, opt for a network with faster speeds. KuCoin displays the estimated completion time for each network in the network list.