Question about withdrawing crypto.

[AMP-junkie]

I'm completely new to crypto and am using KuCoin and CoinBase. Coinbase has annoying fees but it's bearable. However, the fees with withdrawing from KuCoin seem pretty insane for a small transfer.

I started out with a $500 profit that I wanted to transfer to my bank acct. Transferring to TrustWallet cost $33. Then, it wouldn't let me transfer it to CoinBase without Eth. So I bought $40 worth of ETH in Coinbase and transferred it to TrustWallet, which brought it down to $26 worth of ETH.

The gas fees were $50-$60, so I adjusted the GWEI, I think down to 61, and paid about $25 for gas fees. Of course, it's still pending.

Can anyone tell if the money is now lost because I paid such a low fee or if it will eventually go through. Either way, I don't think I'll be using KuCoin until I figure out a way to do this without spending so much on fees.

[Darker45]

Why was there so much hopping of your funds? For your profit, was it KuCoin ==> Trust Wallet ==> Coinbase? And then there was also Coinbase ==> Trust Wallet for your ETH gas. Why didn't you just directly transfer your funds from KuCoin to Coinbase? Why did it have to pass through Trust Wallet where you don't have sufficient funds for your gas?

Anyway, ETH fees are terribly high, but your money is not lost for as long as you put the correct address. You can check your pending transaction on https://etherscan.io/ or https://ethplorer.io/. The worst that could happen is that your transaction will be rejected and your funds returned to you.

Centralized exchanges have high fees. I'm afraid there's not much we can do about it except by converting your funds to altcoins with cheap fees first before transferring.

This is not a discussion about Bitcoin, by the way.

[d5000]

You should give a bit more information (nothing private, no worries ):

I understand that you can't (or don't want) transfer directly from KuCoin to your bank account, so you transferred your coins to TrustWallet with the idea to transfer to Coinbase and then to your bank. Is this right?

I guess the coin you want to transfer is an Ethereum-based token or stablecoin, that would explain that you need ETH to transfer fron Trustwallet to Coinbase. I understand also that your coins are now stuck on Trustwallet, and your transfer to Coinbase isn't going through.

Normally, if you wait some time and your transaction fee is only slightly below the current fee, your transaction should go through eventually. At weekends, often fees are lower, so it may make sense to wait until Sunday/Monday.

However, if it doesn't go through, then all depends on the seriousness of Trustwallet. I don't know them but they seem to be a centralized wallet provider. So in my opinion, if until Monday your transaction is still stuck, you should contact their support and they may try to revert the transaction. This can be done, but it may require manual action from them and so it's possible they charge a fee.

And yes, this thread should go into the subforum "Economy > Marketplace > Service Discussion" or even  "Alternate cryptocurrencies > Marketplace (Altcoins) > Service Discussion (Altcoins)", not in Bitcoin Discussion. You will probably get better support there.

[AMP-junkie]

OK, I moved the topic to "Service Discussion."

I tried transferring from KuCoin to Coinbase only once but it looked like nothing happened (I'm sure I did something wrong) so I assumed maybe that was not possible. But I guess at least I learned what a wallet was.

I had a Shiba Inu position, which I closed partially and that converted it to USDT, which I then transferred to TrustWallet. 

[noorman0]

-snip-
but it looked like nothing happened

A common mistake beginners make with exchange withdrawals is to choose a network option that fees less, while the destination exchange does not support that network.

As said above, your transaction is currently in the queue. So just wait for the next few days.
If you are not comfortable with ETH fees, you can first trade them for other coins with lower withdrawal fees such as TRX (lowest fee), BCH, or XLM(memo/tag required). And you don't need a trustwallet, so you save more on expenses.

[Jawhead999]

Your coins wouldn't lost, if there's no miner confirm or validating your transactions your coins will came back to your own wallet usually around 2 weeks.

However, if it doesn't go through, then all depends on the seriousness of Trustwallet. I don't know them but they seem to be a centralized wallet provider. So in my opinion, if until Monday your transaction is still stuck, you should contact their support and they may try to revert the transaction. This can be done, but it may require manual action from them and so it's possible they charge a fee.

Trustwallet is non-custodial but it's closed source, it's a rare case they would revert the transaction however if @OP in hurry he could speed up the transactions by create new transactions with same nonce and higher fees [1]

And you don't need a trustwallet, so you save more on expenses.

I think he's using Trustwallet because using exchanges he doesn't have full control over his coins.

[1] https://community.trustwallet.com/t/pending-stuck-transactions/126

[Findingnemo]

Since you just wanted the profits to be moved as fiat then why have you done all these things? Your profits were eaten by the transaction and withdrawal fees on multiple occasions, if you are kind of person who move profits as Fiat then choose a local exchange where you can withdraw fiat to bank accounts for relatively cheaper fee.

[khaled0111]

I didn't use ethereum and erc20 tokens for a long time, but as far as I can remember, if the transaction fee you chose is too low, the transaction will remain pending for a while then it will be rejected. You wan't lose your tokens but the gas fee will be consumed/lost.

The ethereum network is not suitable for transacting small amounts right now because of its high fees. Since you are using Trust wallet, I suggest you start using binance smart chain but always make sure you are sending to the right address.

[AMP-junkie]

Looks like it did not go through and I did not lose the gas fees.

https://ethgas.watch/ seems to be useful. I'll just get more ETH and pay the higher fees, but I might as well wait until the weekend, if the fees might be slightly less then.

[JeromeTash]

I suppose you tried to send USDT ERC20 token from Kucoin to trustwallet and then to coinbase which was a very wrong choice because you are going to pay double fees which are insanely high.

What you should do next time is to transfer directly from Kucoin to Coinbase, and please use a network that requires low fees.

For example; This is the only fee you will have to pay to withdraw from Kucoin and deposit directly to your coinbase addresses and then you convert the coins back to your preferred coin, USDT


1. Avalanche (AVAX) - 0.01 AVAX (~0.65 USD) in fees
2. EOS - 0.1 EOS (~0.45 USD) in fees
3. XRP - 0.2 XRP (~0.2 USD) in fees
4. XLM - 0.02 XLM (~0.007 USD) in fees
5. LTC - 0.001 LTC (~0.19 USD) in fees

However, if it doesn't go through, then all depends on the seriousness of Trustwallet. I don't know them but they seem to be a centralized wallet provider. So in my opinion, if until Monday your transaction is still stuck, you should contact their support and they may try to revert the transaction. This can be done, but it may require manual action from them and so it's possible they charge a fee.

It's a noncustodial wallet, so support won't help

Your coins wouldn't lost, if there's no miner confirm or validating your transactions your coins will came back to your own wallet usually around 2 weeks.

This applies to Bitcoin network, I don't think it applies to Ethereum network too

[noorman0]

https://ethgas.watch/ seems to be useful.

This aggregator updates somewhat slower (on average every 8 minutes). Etherscan's gas tracker I think is much faster (updates every 3-10 seconds)
You can also monitor the current recommended gas prices at https://legacy.ethgasstation.info so you don't set the gas too low again.

[Jawhead999]

What you should do next time is to transfer directly from Kucoin to Coinbase, and please use a network that requires low fees.

For example; This is the only fee you will have to pay to withdraw from Kucoin and deposit directly to your coinbase addresses and then you convert the coins back to your preferred coin, USDT

1. Avalanche (AVAX) - 0.01 AVAX (~0.65 USD) in fees
2. EOS - 0.1 EOS (~0.45 USD) in fees
3. XRP - 0.2 XRP (~0.2 USD) in fees
4. XLM - 0.02 XLM (~0.007 USD) in fees
5. LTC - 0.001 LTC (~0.19 USD) in fees

You're simply saying exchange USDT => Low fee Altcoin => Transfer to Coinbase => Convert the "Low fee Altcoin" to USDT it's not network but a coins, if it's network he can send his USDT directy using TRC20 network but sadly Coinbase only accept ETH network. However your suggestion is good for this case (low amount money) because you need to calculate the trading fees on both KuCoin and Coinbase, KuCoin required 0.1% and Coinbase 0.5% so it will cost around $3

Your coins wouldn't lost, if there's no miner confirm or validating your transactions your coins will came back to your own wallet usually around 2 weeks.

This applies to Bitcoin network, I don't think it applies to Ethereum network too

In the past, I've made a mistake create a transactions with very low fees on ETH network. But after 10-14 days my coins came back to my wallet, but I lost the transaction fee. So it applies on ETH network too.

[cabron]

What you should do next time is to transfer directly from Kucoin to Coinbase, and please use a network that requires low fees.

For example; This is the only fee you will have to pay to withdraw from Kucoin and deposit directly to your coinbase addresses and then you convert the coins back to your preferred coin, USDT

1. Avalanche (AVAX) - 0.01 AVAX (~0.65 USD) in fees
2. EOS - 0.1 EOS (~0.45 USD) in fees
3. XRP - 0.2 XRP (~0.2 USD) in fees
4. XLM - 0.02 XLM (~0.007 USD) in fees
5. LTC - 0.001 LTC (~0.19 USD) in fees

You're simply saying exchange USDT => Low fee Altcoin => Transfer to Coinbase => Convert the "Low fee Altcoin" to USDT it's not network but a coins, if it's network he can send his USDT directy using TRC20 network but sadly Coinbase only accept ETH network. However your suggestion is good for this case (low amount money) because you need to calculate the trading fees on both KuCoin and Coinbase, KuCoin required 0.1% and Coinbase 0.5% so it will cost around $3

Your coins wouldn't lost, if there's no miner confirm or validating your transactions your coins will came back to your own wallet usually around 2 weeks.

This applies to Bitcoin network, I don't think it applies to Ethereum network too

In the past, I've made a mistake create a transactions with very low fees on ETH network. But after 10-14 days my coins came back to my wallet, but I lost the transaction fee. So it applies on ETH network too.

It is possible that the amount came back but the transaction fee was never returned? I somehow experienced the same but the transactions are qued on metamask but it was never really sent.

The suggestion I think will work by sending an altcoin with low fees at least not more than $25 for a transaction, XLM or XRP will be appropriate for it since he just want to send his cash to his bank. So there is no need for that Trustwallet transaction.

[The Cryptovator]

Make it simple, when you intend to transfer your coin from exchange to exchange then choose which has a low transaction fee. You must need to make sure the coin is available on both exchanges. Sending cross transactions would lead to your loss. For example, Sending USDT in the ERC20 network is a high fee, then you may try to choose TRC20 which is a lower fee than ERC20. But you must need to make sure the receiver exchange support the same TRC20 chain as well. You might choose another coin as well if available in both exchanges and then convert it to your desired coin.

[RapTarX]

I had a Shiba Inu position, which I closed partially and that converted it to USDT, which I then transferred to TrustWallet.  

You could have easily use USDT on tron to avoid the huge fee. USDT are available in few chain and if I'm correct, USDT on tron is the cheapest one. If you were here before withdraw, you could save all these fees and would require to pay $2 fee maximum if it was going through all the wallet.
By the way, can you please what what error you got when tried to send to Coinbase from Kucoin directly?

[mk4]

Oh man you literally chose the worst coin to transact with right now. as Ethereum's fees are just totally bonkers. Not really sure how TrustWallet works, but if I was using MetaMask and used such a low fee, I might need to cancel the transaction and rebroadcast it using a higher fee. In which, cancelling the transaction itself is going to cost you fees. 😬

[AMP-junkie]

RapTarX, I didn't get any error. I clicked it. It loaded for a second or two and then nothing happened, it wasn't transferred. In hindsight, I should have tried again.

[JeromeTash]

In the past, I've made a mistake create a transactions with very low fees on ETH network. But after 10-14 days my coins came back to my wallet, but I lost the transaction fee. So it applies on ETH network too.

What I meant is that how transaction are dropped from the Ethereum's transaction pool is a little different from that of Bitcoin's. While you can be sure that Bitcoin's default is approximately 2 weeks for the transaction to get dropped, the same can not be said about Ethereum's, which mostly depends on how busy the network is and how much gwei one paid.

Checkout this transaction. It was first broadcast on October 3rd (~26 days ago) and it's still pending - https://etherscan.io/tx/0x8eaaffe71d32d6f51b61f6419e7c615d1e7bc7d14dd4e883cb2e591f748fcb71

You could have easily use USDT on tron to avoid the huge fee. USDT are available in few chain and if I'm correct, USDT on tron is the cheapest one.

Coinbase doesn't support Tron or USDT TRC20