If you’re familiar with how cryptocurrency exchanges work, you should already know that in order to buy and sell currencies, you need to have your cryptocurrency deposited on the exchange. The most common way of doing this is through a cryptocurrency wallet. The wallet you will use for this process is MetaMask.
The transfer of funds from KuCoin to MetaMask is one of the most common transactions that a user will make, so it’s important to make sure that users are able to successfully complete the transfer.
To help ensure they do, we’ve created a step-by-step guide on how to move your digital assets from one platform to another.
What is Metamask?
MetaMask is a cryptocurrency wallet that is free, fast, and open source. MetaMask includes a secure identity vault, providing a user interface to manage your identities on different sites and sign blockchain transactions.
MetaMask is a browser extension that brings Ethereum to your browser. That means you can run Ethereum dApps right in your browser without running an Ethereum node. It also means that you can access Ethereum dApps on your smartphone and even use hardware wallets like Ledger Nano S with them.
What Is A Private Key?
A private key is a string of code used to access an Ethereum wallet. Every cryptocurrency has its own unique private key and it should be kept secret at all times. If someone were able to gain access to your private key, they would be able to send your cryptocurrency wherever they wanted and you wouldn’t be able to stop them.
How To Install Metamask?
To install MetaMask, go to the MetaMask website and click the “Get Chrome Extension” button. Once installed, you’ll see a fox icon at the top right of your browser. Click on this icon, then click “Accept” to allow MetaMask access to your browser, and you’ll be guided through setting up your first wallet. Be sure to write down the seed words (shown on the last page of setup) in a safe place!
When you’ve set up your MetaMask wallet, go back to Kucoin, click “Send/Request”, enter the address of the wallet you just created in MetaMask, then type in how much BTC USDT you’d like to send there.
How To Transfer Your Funds From Kucoin To Metamask
This guide will teach you how to transfer your cryptocurrency from KuCoin to MetaMask. It’s pretty simple and easy, so let’s get started.
Here is a guide on how to transfer your funds from KuCoin to MetaMask:
- Open your MetaMask wallet.
You can either import an existing account or create a new account. You can select either one, but for the purposes of this guide we will select “Create a new account”.
MetaMask will now ask you to create a password. After entering the password, make sure you remember it because this is not going to be stored anywhere in the browser. This means that if you forget your password, there is no way to get back into your MetaMask account without losing all of the funds in it.
MetaMask will now generate a seed phrase for you which can be used to recover your account in case you lose access to your password at some point in the future. Make sure to write this recovery phrase down on paper and store it somewhere safe where nobody else can get access to it.
The recovery phrase is similar to your private key in that if someone gets access to it then they will be able to move the funds out of your MetaMask wallet without having physical access to your computer or smartphone.
- Click the top left icon and select “Tokens” from the drop-down menu.
- Click the “Add Token” button and enter the following details.
- Scroll down and click “Save”. You will see your token balance in MetaMask.
- Open your KuCoin account, and log in with our credentials. Navigate to the Assets tab at the top of the page.
This will bring us to our assets page, where we can select which assets we want to transfer and how much of each asset.
You will be logged into the KuCoin platform and ready to buy Ethereum using Bitcoin, Bitcoin Cash or Tether as KuCoin is a cryptocurrency exchange that supports many cryptocurrencies like Ethereum, Litecoin, NEO, USDC and many others as well as fiat currencies like USDT (Tether) or BTC (Bitcoin).
Then select “Deposit”. The address of your newly-added ERC20 token will now appear in place of Ether (ETH). Copy the address that shows up and paste it into notepad or word pad for later use.
Click “Submit,” and your assets should arrive in MetaMask within 5-20 minutes.
Why Do You Need to Move your Cryptocurrencies from KuCoin to MetaMask?
Moving your cryptocurrency from KuCoin is important because it protects against the loss of your investment due to hacking or cyber-attacks experienced by other exchanges. In these cases, the attackers were able to steal millions of dollars worth of Bitcoin and Ether.
The reason for this is because most people leave their crypto stored on exchanges which makes them extremely vulnerable to attacks as they hold millions of dollars worth of crypto in one place.
You need to move your cryptocurrency from KuCoin to Metamask because KuCoin does not have the option of storing cryptocurrency in Metamask. So, you need to move your cryptocurrency to a different exchange that works with Metamask, such as Kucoin.
Kucoin is one of the best exchanges that works with Metamask. Although it has a very high trading volume, it is still a relatively new exchange and not everyone has heard of it or uses it. Nevertheless, it is one of the best exchanges for trading cryptocurrencies.
