What's wrong with KuCoin exchange! | Bitcointalksearch.org

Chato1977

member

Activity: 1162

Merit: 58

Quote from: princ.imran on April 07, 2021, 02:18:04 AM

I have been using KuCoin service for 3 years. Last year I bought KickToken token. Recently they delisted that token and they told me to withdraw it! Ok! no problem but Max Limit: 450925.40400000 and Fee:400,000KICK !!! Huh

Now KickToken growing up. In this situation what can I do! Cry

Already contact there support team but maybe nothing improve!

How's your withdrawal mate? is the process comes towards you?

Hope that you already taken your funds mate.

Quote from: ?? on ??

Given the high volatility of some coins, this sounds quite correct. because the exchanges want to make money, and not work in the red, and you can understand them in this, although some other exchanges clearly go overboard.

It is normal that exchange will take money but not this kind of greediness.

Fivestar4everMVP

legendary

Activity: 2422

Merit: 1083

Leading Crypto Sports Betting & Casino Platform

Maybe you should have withdrawn your kick tokens when the delisting was announced, am also a kucoin user and I also hold some kick tokens, when the delisting of kick token from kucoin was announced, withdrawal fee was around 400 kick or there about, you not knowing about this really shows that maybe you are not an active user, but I will like to state this, the problem is not with kucoin exchange but with Ethereum network, fees are very high for erc20 token withdrawals, kick tokens are worth close to zero for 400,000 kick tokens are not worth really much, so I believe this is to cover the Ethereum fees for sending your tokens, so I think what you can do is either wait for the fees to come down or just take it as a loss, you made a mistake leaving the tokens on the exchange for this long by the way, always withdraw your tokens from exchange if you are gonna be holding for long before selling.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: Rehan Zakir on May 02, 2021, 09:15:03 PM

Brother is kick token is build on ETHEREUM blockchain. I asked a question because ethereum network fees is very high and that's why all projects that are built on ethereum block chain their transaction fees are very high. And i think this is not a KUCOIN exchange fault.

The fees on ethereum chain is very high but remember that the exchange site will always charge the additional fees and it will be included into the withdrawal fees.
TRON has a few cents as the transaction fees but the exchange site was charging up to $1 as the transaction fees for any tron asset.
That means if exchange site was also taking the profit from there. This is a common thing in the crypto. The WD fees will always be adjusted based on the current fees on the network

BayAngelo

member

Activity: 882

Merit: 17

you should be fast in your dealing to avoid Losing everything. especially now that the token price is growing up. exchanges now charges with same token you want to withdraw from. nolonger with eth. fees for withdrawal are paid with the same token and not eth. you need to contact kucoin to resolve the issue with withdrawal.
I am still holding there airdrop and needs help on how to with that token...

SimpleMan

full member

Activity: 462

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: ?? on ??

Given the high volatility of some coins, this sounds quite correct. because the exchanges want to make money, and not work in the red, and you can understand them in this, although some other exchanges clearly go overboard.

No, why should I understand if they take withdrawal fees that are twenty times higher than the actual fees it would cost to send a certain coin from A to B?
There is no reason to understand that. It is rip off, and rip off should not be tolerated!

SimpleMan

full member

Activity: 462

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: jeungo on May 08, 2021, 09:22:15 AM

I have been using this exchange for many years, I saw problems in work only during a big storm associated with a fall in the entire market. Now everything seems to work quite correctly. If you have a problem, then perhaps the problem is with the coin or token that you are withdrawing.

It does depend on the coins you are holding or trading. Every now and then they charge outrageous withdrawal fees which make no sense at all. They should more often double check what their system calculates for transaction fees.

jeungo

full member

Activity: 700

Merit: 100

I have been using this exchange for many years, I saw problems in work only during a big storm associated with a fall in the entire market. Now everything seems to work quite correctly. If you have a problem, then perhaps the problem is with the coin or token that you are withdrawing.

Rehan Zakir

member

Activity: 812

Merit: 53

Brother is kick token is build on ETHEREUM blockchain. I asked a question because ethereum network fees is very high and that's why all projects that are built on ethereum block chain their transaction fees are very high. And i think this is not a KUCOIN exchange fault. Because they don't have an concern about a specific coin. Because kucoin withdrawal fees are very cheap.

SimpleMan

full member

Activity: 462

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: bitterguy28 on May 01, 2021, 08:08:13 AM

Quote from: SimpleMan on April 30, 2021, 12:30:37 PM

Quote from: lobo13hf on April 21, 2021, 11:07:52 PM

Quote from: culuuton on April 21, 2021, 07:10:42 PM

Is the withdrawal fee around $100 (400,000KICK)? It is too high despite the high fees of the ethereum network.

I think that the withdrawal fees for kick already adjusted as the price increase that happened with kicktoken. The withdrawal fees totally pegged with the USD calculation.
When the price for each kick token was going up and this will make withdrawal.
I think that OP already withdrawn his kick from the kucoin exchange site

Even if they adjusted they should have an automatic update system in place that calculates reasonable withdrawal fees. They are running a crypto exchange but with stone age technology or what? Are they calculating the withdrawal fees manually with a calculator?

This is a must concern of each exchange because their main goal is to earn by serving traders , so why do they let this happen? imagine about the withdrawal requirements and the fee to make it happen?

I'm starting to lose trust in Kucoin if this will not be resolved sooner.

I had this problem myself before when I had some minor amount left but not too small to disregard it. I wanted to withdraw it to my wallet and it said insufficient funds because the withdrawal fee was higher than my amount left on the exchange. Withdrawal fees in Bitcoin and Ethereum are high, we know that, but for some shitcoin charging 50 bucks and more is not funny.

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

Quote from: SimpleMan on April 30, 2021, 12:30:37 PM

Quote from: lobo13hf on April 21, 2021, 11:07:52 PM

Quote from: culuuton on April 21, 2021, 07:10:42 PM

Is the withdrawal fee around $100 (400,000KICK)? It is too high despite the high fees of the ethereum network.

I think that the withdrawal fees for kick already adjusted as the price increase that happened with kicktoken. The withdrawal fees totally pegged with the USD calculation.
When the price for each kick token was going up and this will make withdrawal.
I think that OP already withdrawn his kick from the kucoin exchange site

Even if they adjusted they should have an automatic update system in place that calculates reasonable withdrawal fees. They are running a crypto exchange but with stone age technology or what? Are they calculating the withdrawal fees manually with a calculator?

This is a must concern of each exchange because their main goal is to earn by serving traders , so why do they let this happen? imagine about the withdrawal requirements and the fee to make it happen?

I'm starting to lose trust in Kucoin if this will not be resolved sooner.

SimpleMan

full member

Activity: 462

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: lobo13hf on April 21, 2021, 11:07:52 PM

Quote from: culuuton on April 21, 2021, 07:10:42 PM

Is the withdrawal fee around $100 (400,000KICK)? It is too high despite the high fees of the ethereum network.

I think that the withdrawal fees for kick already adjusted as the price increase that happened with kicktoken. The withdrawal fees totally pegged with the USD calculation.
When the price for each kick token was going up and this will make withdrawal.
I think that OP already withdrawn his kick from the kucoin exchange site

Even if they adjusted they should have an automatic update system in place that calculates reasonable withdrawal fees. They are running a crypto exchange but with stone age technology or what? Are they calculating the withdrawal fees manually with a calculator?

DOH!

full member

Activity: 812

Merit: 108

Quote from: princ.imran on April 07, 2021, 02:18:04 AM

I have been using KuCoin service for 3 years. Last year I bought KickToken token. Recently they delisted that token and they told me to withdraw it! Ok! no problem but Max Limit: 450925.40400000 and Fee:400,000KICK !!! Huh

Now KickToken growing up. In this situation what can I do! Cry

Already contact there support team but maybe nothing improve!

Looks like you were mistaken! I am also a user of Kucoin for 04 years, it is also one of my 03 favorite exchanges with Binance, Huobi.

I have tried checking right now, The minimum withdrawal limit for KickToken is 200,000, Fee for withdrawal per time is 50,000 KickToken. Does it make any difference? Did they change, update it back? Well, I don't have these situations. Maybe the withdrawal fee will vary according to the market situation, that's normal. If you haven't already, try again now.

fortune1002

member

Activity: 238

Merit: 10

You can only do patience, Wait for their response. I hope they will give you a solution for your problem.

husencoe

full member

Activity: 658

Merit: 100

Quote from: princ.imran on April 07, 2021, 02:18:04 AM

I have been using KuCoin service for 3 years. Last year I bought KickToken token. Recently they delisted that token and they told me to withdraw it! Ok! no problem but Max Limit: 450925.40400000 and Fee:400,000KICK !!! Huh

Now KickToken growing up. In this situation what can I do! Cry

Already contact there support team but maybe nothing improve!

This is why you do not hold your crypto on exchange account. In this situation you must withdraw it if you still want to take your asset or you will loss your asset at all. May be they give sometimes for members to withdraw their's and soon they will unlisted that token.

lobo13hf

hero member

Activity: 2268

Merit: 507

Quote from: culuuton on April 21, 2021, 07:10:42 PM

Is the withdrawal fee around $100 (400,000KICK)? It is too high despite the high fees of the ethereum network.

I think that the withdrawal fees for kick already adjusted as the price increase that happened with kicktoken. The withdrawal fees totally pegged with the USD calculation.
When the price for each kick token was going up and this will make withdrawal.
I think that OP already withdrawn his kick from the kucoin exchange site

culuuton

hero member

Activity: 1593

Merit: 502

Quote from: concept2 on April 21, 2021, 10:02:47 AM

Quote from: peter0425 on April 21, 2021, 05:39:01 AM

Quote from: princ.imran on April 07, 2021, 02:18:04 AM

I have been using KuCoin service for 3 years. Last year I bought KickToken token. Recently they delisted that token and they told me to withdraw it! Ok! no problem but Max Limit: 450925.40400000 and Fee:400,000KICK !!! Huh

Now KickToken growing up. In this situation what can I do! Cry

Already contact there support team but maybe nothing improve!

What Kind of issue was this? Kucoin to be one of the most trusted and legit exchange having this problem? or maybe this is from your Kickteam that has the problem?

Hope that the Project team had already answered your problem here..

I guess it will be quite long in order to wait for the reasonable answer. According to what I see, perhaps it is because of the high fee of the ethereum network which force the exchange to deduct the total withdrawal amount

Is the withdrawal fee around $100 (400,000KICK)? It is too high despite the high fees of the ethereum network.
Kucoin announced late last year (not recently). Withdrawal fees apply at that time when the KICK value is very low. Now can only contact and wait for the fee update again.

concept2

sr. member

Activity: 750

Merit: 258

Quote from: peter0425 on April 21, 2021, 05:39:01 AM

Quote from: princ.imran on April 07, 2021, 02:18:04 AM

I have been using KuCoin service for 3 years. Last year I bought KickToken token. Recently they delisted that token and they told me to withdraw it! Ok! no problem but Max Limit: 450925.40400000 and Fee:400,000KICK !!! Huh

Now KickToken growing up. In this situation what can I do! Cry

Already contact there support team but maybe nothing improve!

What Kind of issue was this? Kucoin to be one of the most trusted and legit exchange having this problem? or maybe this is from your Kickteam that has the problem?

Hope that the Project team had already answered your problem here..

I guess it will be quite long in order to wait for the reasonable answer. According to what I see, perhaps it is because of the high fee of the ethereum network which force the exchange to deduct the total withdrawal amount

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: princ.imran on April 07, 2021, 02:18:04 AM

I have been using KuCoin service for 3 years. Last year I bought KickToken token. Recently they delisted that token and they told me to withdraw it! Ok! no problem but Max Limit: 450925.40400000 and Fee:400,000KICK !!! Huh

Now KickToken growing up. In this situation what can I do! Cry

Already contact there support team but maybe nothing improve!

What Kind of issue was this? Kucoin to be one of the most trusted and legit exchange having this problem? or maybe this is from your Kickteam that has the problem?

Hope that the Project team had already answered your problem here..

GoodLuckToken

jr. member

Activity: 65

Merit: 6

I would probably do like others have suggested and just leave the tokens at Kucoin for now. High ETH gas fee's are surely part of the problem here. Keep them in there and then withdraw over the weekend once the gas fee's come down some.

SimpleMan

full member

Activity: 462

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: Bttzed03 on April 07, 2021, 03:06:09 AM

It's best to wait for their response but I think it's a case of Kucoin not updating their pricing for the withdrawal fee. The delisting of Kick was announced last Dec. 16,2020 when the price was around $0.00001116 to $0.00001358 (Coingecko historical data). The withdrawal fee of 400K Kick at that time was around $5.

Had the same problem once with another coin and sent an email to the support. They fixed it but I remember it took quite a while.... Patience is required...

Topic: What's wrong with KuCoin exchange! (Read 434 times)