Goodness!!! With every reply I need to delve into google to understand new terms, I have no idea how P2P works in Crypto so I need to learn about that .... and as for Mempool, I'm none the wiser after a little reading so I need more time on that too!

I am now aware that for Bitcoin, everything other than the Bitcoin network is a poor imitation and I appreciate the help!

Can anyone help me with how this works with regards ETH and ALTs?  Do they all have to be transferred on their native ERC20 or alternate network such as AVAX to be legit?

Thanks everyone, appreciate the input, definitely a big learning point.

I do take some profits as Bitcoin price moves and at my level the cost of the Bitcoin network is high but I'll be sure to stick to it regardless!

In the name of more learning can I redirect this in the direction of how it works with Eth and Alts?

As mentioned above there are many available networks at varying costs, is it the same story where only one is authentic for holding the actual coin or are the likes of Arbitrum/Optimism usable options?

As for the tether it's a long story from another thread, I have GBP on KuCoin from Bitcoin sales which I now realise I can't withdraw, trying to switch to tether at a decent rate and go from there ... prob transfer somewhere else to go back to GBP to withdraw unless the market drops in the meantime ... all more tricky than I'd hoped!

I'm aware Coinbase Wallet doesn't accept KCC which is why I was enquiring about Trust Wallet who KuCoin list as accepting it.

However it seems I have a lot to learn here, so if I don't use the official Bitcoin network, then I'm holding a copy effectively rather than the real thing, collaterised against something else entirely???  This is bewildering but need to understand what I'm doing before choosing a network.

How does this work for ETH where I have further options ERC20, KCC, Arbitrum, Optimism.

and as for Tether .... ETH, TRX, SOL, ALGO, KCC, EOS, Arbitrum, Optimism, XTZ   

Thanks for the suggestions, coinex looks like a decent option at a glance!

As for the locked up funds at KuCoin, the exchange rate has been dropping today for some reason. 

Down to £0.84/USDT from £0.97, however as true value is about £0.815 I'm still holding out, hoping that the drop will continue or withdrawals will come online soon!

Thanks but it doesn't sound like it will be worth it to setup with OKE and transfer for the limited cost saving at the moment.  I also haven't got into spending BTC, it's simply to hold and trade over the medium/long term.

Going back to the KCC network, are you saying it isn't possible to transfer Bitcoin??  KuCoin exchange is suggesting it as an option when I go to transfer Bitcoin out but I don't have a compatible wallet yet to enter an address (so I don't know what it will start with)


On KuCoin it lists a number of KCC compatible wallets when you select this method of transfer ... Trust Wallet is one of them.

I'm about to move BTC off exchange at KuCoin to my Coinbase Wallet.  The charge however is a hefty $14 dollars on the BTC network.

There is another option listed, the Kucoin Community Chain which only charges $0.56

Has anyone used KCC to transfer Bitcoin?? 

I also don't believe Coinbase Wallet accepts it but it seems Trust Wallet does so could set up there.  Any trust wallet users who can confirm it accepts KCC transfers??

Thanks everyone for the assistance, as there is no cost effective exit route I'm going to hang on and hope withdrawal becomes available soon, given that the "middle of march" was the quoted timescale given when GBP deposits were introduced at the beginning of March.

Hopefully their plan made a couple of weeks previously can't be that far out 

In the meantime, if I want to make any further investments can anyone recommend an exchange with GBP deposit and WITHDRAWAL?

I'm having a look into Kraken as a possibility.

As I typed it here that I can't withdraw it suddenly clicked why the inflated rates but I thought I'd wait for others to confirm!

So ... when I first deposited the rate was ok, I recently sold some bitcoin back to GBP as "the rate was higher/better" going back to pounds.  I hadn't realised why at the time but it's all coming together now.

Anyway, the exchange rate now is substantially higher than a week or so ago when I deposited so I'm kind of stuck.

I guess I'll give it a little time and hope it calms down or the "middle of march" happens very soon!!

I have a limit order in place to catch the market if it drops in the mean time.

Thanks, I did get a lengthy security call from my bank before allowing deposit.

The problem now appears to be that I can't withdraw GBP back to my account from KuCoin and I can only buy USDT/BTC/ETH with GBP and all three are hugely unflated!

I just can't figure out why on earth people are paying a 22% premium to swap FIAT to a stablecoin, it seems to make no sense whatsoever!

Thanks for the P2P idea, something I can look into once I figure out what to do with my deposit at KuCoin!

I recently signed up to KuCoin and deposit in my local currency GBP.

A fair exchange rate to USDT is approx 0.825GBP/USDT

However despite the official rate being flat the going rate on platform is climbing (up 7% today alone)!

The current cost is 1.01GBP/USDT a 22% premium to convert FIAT!!!!

Can anyone explain this?  There is no way I'm paying this extortionate rate so I can get USDT to buy coins.