Kucoin deposit problem | Bitcointalksearch.org

bbc.reporter

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Quote from: OmegaStarScream on November 12, 2022, 02:54:32 AM

Quote from: bbc.reporter on November 11, 2022, 11:13:57 PM

If the rumors are true, the problem for users might not be the deposits going into Kucoin. It might be withdrawals going out of Kucoin.

In any case, there are rumors circulating that Kucoin has a large exposure in FTX and FTX has a large exposure in Kucoin. These exchanges might only be holding each other's tokens with Kucoin left holding millions in worthless FTT. However, if the exposure is deeper, this might be a problem.

Not that it's not possible but I doubt it. In addition to the CEO dismissing those rumors, they released a list of their hot/cold addresses and also promised that the Merkle-tree proof-of-reserves will be available soon: https://www.kucoin.com/blog/transparency-and-trust-a-detailed-list-of-kucoin-s-wallets

Okay, however, it appears there might be other exchanges and some hedgefunds that are not in a very safe position after FTX's collapse if they had partnerships with FTX or had deposits in FTX. I am hoping and wishing that this will be the end of this comedy show, however, it might only be the beginning of a clear out of the weak exchanges because they're solvency will be tested.

In any case, if we speculate on an exchange's insolvency, speculate responsibly. Do not spread fud but ask the right questions. Also for @everyone, not your keys not your coins. Hold them in your wallet.

hugeblack

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Quote from: JamesDaniel90 on November 11, 2022, 03:59:16 AM

I just want to buy this crypto on Kucoin and transfer it to my ledger to hold for a few years till the next bull run.

Try OKX.com, I think they are doing the same advantages as kucoin, so what is the coin that you want to buy and not found in any other platform.
According to my experience with Kucoin, their trading volumes are not high enough to implement orders quickly, and therefore do not expect high liquidity coins with only listed on that platform.
Also, the support team activity is bad and therefore it is a last option or an alternative if you do not find any other option.

OmegaStarScream

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Quote from: bbc.reporter on November 11, 2022, 11:13:57 PM

If the rumors are true, the problem for users might not be the deposits going into Kucoin. It might be withdrawals going out of Kucoin.

In any case, there are rumors circulating that Kucoin has a large exposure in FTX and FTX has a large exposure in Kucoin. These exchanges might only be holding each other's tokens with Kucoin left holding millions in worthless FTT. However, if the exposure is deeper, this might be a problem.

Not that it's not possible but I doubt it. In addition to the CEO dismissing those rumors, they released a list of their hot/cold addresses and also promised that the Merkle-tree proof-of-reserves will be available soon: https://www.kucoin.com/blog/transparency-and-trust-a-detailed-list-of-kucoin-s-wallets

bbc.reporter

legendary

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Quote from: owlcatz on November 10, 2022, 07:53:35 PM

Quote from: JamesDaniel90 on November 10, 2022, 06:55:08 PM

I am from UK and started using Kucoin in June but since July I have not been able to deposit using bank card and have spoken to their customer service and they still say deposit via bank card is still under maintenance.

It has been over 4 months now since I was able to deposit by bank card. The last person I spoke to on live chat an hour ago mentioned depositing via P2P but didnt give any detail in how to do this, only a link that didnt work.

I am pretty new to all this, can anyone advise how else we can currently deposit on Kucoin? Not sure if it is just a UK problem.

Find a different exchange? If they don't want your money, fuck them... Roll Eyes

Edit Kucoin support really sucks, I wouldn't waste too long... Tongue

If the rumors are true, the problem for users might not be the deposits going into Kucoin. It might be withdrawals going out of Kucoin.

In any case, there are rumors circulating that Kucoin has a large exposure in FTX and FTX has a large exposure in Kucoin. These exchanges might only be holding each other's tokens with Kucoin left holding millions in worthless FTT. However, if the exposure is deeper, this might be a problem.

examplens

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Crypto Swap Exchange

since the OP is from the UK, I'd suggest he may pay attention to cex.io. They are also registered in the UK, earlier I used them quite actively for transactions vs. payment cards and I personally have quite positive experiences.
they also have their debit card announced, I believe that it could be a win-win combination for him.
what I would like to praise about them is that they have active support even here on the forum and that they always responded here to resolve disputes.

note: I have no connection with them except that I am an ordinary user, so this is just a suggestion that the OP can investigate and make a decision based on his own beliefs.

OmegaStarScream

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Quote from: Apocollapse on November 11, 2022, 04:09:30 AM

-snip-
What I know is Kucoin has restrict against US territory, it's possible if they restrict against UK too.
-snip-

I doubt it, it must be either something with their payment processor or OP's card. Because AFAIK, fiat deposits (regardless of the exchange) can only be made by verified users so if they don't support the UK, he shouldn't have been able to verify his identity in the first place.

Pmalek

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Quote from: JamesDaniel90 on November 11, 2022, 03:59:16 AM

There is just one crypto on Kucoin that is available to trade that is not on Coinbase or Binance.

An altcoin or possibly a shitcoin can prove to be an expensive lesson for you long-term. But if that is what you want, be ready to suffer any consequences as well. You can always use sites like CoinGecko or CoinMarketCap to check what other exchanges that asset is trading on. Maybe you will have more luck there than on Kucoin.

Quote from: JamesDaniel90 on November 11, 2022, 03:59:16 AM

So is it best that I send some crypto from either Coinbase or Binance to Kucoin and then from there can convert that into the crypto I want?

Yeah, that's one way to do it. Bitcoin would be the obvious choice, but you will lose out on withdrawal fees when you make the transaction from Coinbase/Binance to Kucoin. Maybe something like USDT on Tron is better and cheaper to move. Also pay attention to the trading pair that is available on KuCoin for the coin you want to purchase. Each trade requires paying maker/taker fees as well, so you will lose a bit on that as well.

slackovic

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Quote from: Apocollapse on November 11, 2022, 04:09:30 AM

Quote from: JamesDaniel90 on November 11, 2022, 03:59:16 AM

So is it best that I send some crypto from either Coinbase or Binance to Kucoin and then from there can convert that into the crypto I want?

Well since the problem isn't caused by yours, I think it's fine to send some crypto to Kucoin, but make sure you're only send small money and then you can try to withdraw it. If there's no problem, you can try bigger amount.

What I know is Kucoin has restrict against US territory, it's possible if they restrict against UK too.

Maybe you can try to other exchange? I believe the coins that listed on Kucoin at least listed on some few exchanges since get listed on Kucoin is a bit stricter.

This is the best advice on how to resolve this problem. You can buy USDT on Binance or Coinbase, pay with your credit card and then transfer that USDT to KuCoin. If the only restriction on KuCoin is that you can't use your credit card then there shouldn't be any problem. But try one transaction with a small amount just to be sure. It will cost you 2 USDT if you transfer it trough TRX network, but it's better to lose 1 USDT than the whole amount in case anything goes wrong.

Apocollapse

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Quote from: JamesDaniel90 on November 11, 2022, 03:59:16 AM

So is it best that I send some crypto from either Coinbase or Binance to Kucoin and then from there can convert that into the crypto I want?

Well since the problem isn't caused by yours, I think it's fine to send some crypto to Kucoin, but make sure you're only send small money and then you can try to withdraw it. If there's no problem, you can try bigger amount.

What I know is Kucoin has restrict against US territory, it's possible if they restrict against UK too.

Maybe you can try to other exchange? I believe the coins that listed on Kucoin at least listed on some few exchanges since get listed on Kucoin is a bit stricter.

JamesDaniel90

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I am already on Coinbase & Binance.

There is just one crypto on Kucoin that is available to trade that is not on Coinbase or Binance.

So is it best that I send some crypto from either Coinbase or Binance to Kucoin and then from there can convert that into the crypto I want?

I just want to buy this crypto on Kucoin and transfer it to my ledger to hold for a few years till the next bull run.

Charles-Tim

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Quote from: JamesDaniel90 on November 10, 2022, 06:55:08 PM

It has been over 4 months now since I was able to deposit by bank card. The last person I spoke to on live chat an hour ago mentioned depositing via P2P but didnt give any detail in how to do this, only a link that didnt work.

Do jot be confused why P2P is. It is peer to peer means of trading in a way intermediary is eliminated and not part of it. Which means you and someone can exchange crypto to fiat or fiat to crypto. You should be able to do that on Kucoin, you can follow this Kucoin guide about P2P:

P2P fiat trade - KuCoin

Accardo

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Check their reddit community for help https://www.reddit.com/r/kucoin/
I've had a tough time withdrawing crypto with kucoin in the past, as they have a network different from other cryptocurrencies I got help through their community. There, you'll know if your country is restricted or not.

BD Crypto

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As their is a problem about depositing funds from your country through the bank then you should better try other well known exchanges like Binance, Coinbase or others. Or you may deposit on Kucoin through p2p if they accept your alternative payment options.

mk4

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You're probably better off using a local exchange(probably Coinbase/Kraken if they support your country) if what you want is to buy crypto using a bank card. While I had good experiences with KuCoin — KuCoin is a lot more of an exchange that's best for crypto<->crypto, than fiat<-> crypto.

Marvell1

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Quote from: ThemePen on November 10, 2022, 10:42:47 PM

What are you waiting for?
Why you don't move to other exchange if they are not responding?

If you curious to use kucoin so I will recommend go to another exchange and deposit funds from you bank to that exchange.

And than transfer that funds from that exchange to your kucoin exchange account.

This way seems faster, try to use binance or coinbase, whichever exchange is supported in your country. Deposit through those exchanges and then you can transfer all your crypto assets to kucoin if you still don't want to leave kucoin. But in my opinion, OP, you should give up on Kucoin if their service is really that bad because if you later have bigger problems with your property that they don't solve or guide you poorly then you're in trouble.

ThemePen

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What are you waiting for?
Why you don't move to other exchange if they are not responding?

If you curious to use kucoin so I will recommend go to another exchange and deposit funds from you bank to that exchange.

And than transfer that funds from that exchange to your kucoin exchange account.

jackg

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https://bit.ly/387FXHi lightning theory

Just move to somewhere with good support. I've not needed to contact them for anything but coinbase seems to be one of the best options out there. UK banks don't really like crypto though so you might be better off going via a direct bank transfer to coinbase pro.

noorman0

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Quote from: JamesDaniel90 on November 10, 2022, 06:55:08 PM

-snip-
The last person I spoke to on live chat an hour ago mentioned depositing via P2P but didnt give any detail in how to do this, only a link that didnt work.

Did you mean this guide?
If they point you to the guide on the official page above but it doesn't work (not accessible), I'm afraid there are actually some restrictions for UK people using Kucoin.
I do not recommend that you continue using Kucoin because you will experience the same difficulties when withdrawing money to your local bank.

owlcatz

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Quote from: JamesDaniel90 on November 10, 2022, 06:55:08 PM

I am from UK and started using Kucoin in June but since July I have not been able to deposit using bank card and have spoken to their customer service and they still say deposit via bank card is still under maintenance.

It has been over 4 months now since I was able to deposit by bank card. The last person I spoke to on live chat an hour ago mentioned depositing via P2P but didnt give any detail in how to do this, only a link that didnt work.

I am pretty new to all this, can anyone advise how else we can currently deposit on Kucoin? Not sure if it is just a UK problem.

Find a different exchange? If they don't want your money, fuck them... Roll Eyes

Edit Kucoin support really sucks, I wouldn't waste too long... Tongue

JamesDaniel90

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I am from UK and started using Kucoin in June but since July I have not been able to deposit using bank card and have spoken to their customer service and they still say deposit via bank card is still under maintenance.

It has been over 4 months now since I was able to deposit by bank card. The last person I spoke to on live chat an hour ago mentioned depositing via P2P but didnt give any detail in how to do this, only a link that didnt work.

I am pretty new to all this, can anyone advise how else we can currently deposit on Kucoin? Not sure if it is just a UK problem.

Topic: Kucoin deposit problem (Read 183 times)