KuCoin makes a strong bid to increase its position in the European cryptocurrency market. Enabling SEPA payment support makes it more straightforward for Europeans to fund their exchange account and benefit from the ease of use, zero fees, and deposit up to 1 million EUR in a single transaction.
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SEPA transfers are one of the easiest fiat-on-ramp solutions for European users interested in cryptocurrency. As a single euro payment system created by the European Union, SEPA support is a major milestone for the KuCoin exchange, which is now active in 207 countries worldwide, serving over 10 million users. The new payment method will be officially launched on January 24, 2022, allowing users from the 36 SEPA member states to deposit EUR into their account and use it to purchase cryptocurrency assets through KuCoin’s Fast Buy option.
Advantages of using SEPA transfers include:
- Ease of use
- Zero fees
- Single deposits of up to 1 million Eur
- Improved security as there is no third-party involvement
- EUR withdrawals on KuCoin (coming soon)
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The CEO of KuCoin Global, Johnny Lyu has stated, “KuCoin is dedicated to providing all classes of investors with the easiest and fastest crypto trading experience. The integration of SEPA payment is another huge step forward for KuCoin to facilitate the global free flow of digital value. We’ll continue to add more countries and regions to our fiat on-ramp service list in future.”
KuCoin customers can benefit from SEPA transfers by enabling it in their accounts. New and existing users will need to complete a Know-Your-Customer (KYC) procedure via the website or the mobile application. Once completed, they can access the EUR fiat currency deposit option in their account, including the bank transfer details and instructions.
All SEPA transactions must carry the correct Reference Note provided by KuCoin to help identify deposits. It may take 1-2 working days to process transactions.
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