Exchanges (2024)

In most cases, cryptocurrencies are available for trading through centralized (CEX) or decentralized (DEX) exchanges. These CEX and DEX organizations have their own rules for which currencies they offer, which blockchains they support for deposits, and citizenship or other requirements that restrict who can use them. Because these rules can change and Kadena doesn't have any control over how exchanges operate, you should always do your own due diligence and research into whether an exchange allows trading with KDA and whether there are any requirements or restrictions that would prevent you from using the exchange you're interested in. For example, a European-based exchange might be inaccessible for US residents or require you to provide verification of your identity through a Know Your Customer (KYC) process.

What exchanges do

The main purpose of a cryptocurrency exchange is to allow users to buy and sell coins or tokens. In most cases, exchanges don't support all of the features provided by any blockchain, including Kadena. For example, an exchange might only allow trading on a specific Kadena chain or subset of chains. Exchanges can also set their own fee schedules for different cryptocurrencies, so you should research your options as thoroughly as possible.

How tokens are used

The native token for the Kadena public network is listed on exchanges as KDA. KDA is a digital currency that is used to pay for the resources consumed to process transaction requests on the Kadena public blockchain. Similar to ETH on Ethereum, users pay transaction fees to have their transactions included in a block using units of KDA called gas. KDA is also used to compensate the node operators—often referred to as miners—for validating transactions and adding blocks to the network.

Transferring coins

Because exchanges exist to help you buy and sell coins, they often act as a custodial service that holds the coins you've bought or that you're trying to sell. However, some exchanges might allow you to transfer coins out of the exchange and into an account you control, such as a digital wallet.

You should keep in mind that blockchain transactions are irreversible. If you make a mistake, your coins might not be recoverable. As a best practice, you should always perform a small test transaction when executing a transfer for the first time. For added security, you can perform a safe transfer that sends the test transaction coins back to the sender to verify that the receiving account works as expected.

In general, any time you transfer KDA, you should use your principal account that uses the k: prefix to protect your funds in transit.

The following list summarizes notable features for several exchanges that support KDA. This information provided is subject to change and might become outdated for any of the exchanges included.

Binance

• Official KDA exchange.
• Accessible to non-US residents and US residents.
• KYC required.
• Supports deposits of KDA in all 20 chains (chain 0 to chain 19).
• When withdrawing KDA, Binance will transfer your KDA to your Chain 2 address.
• Withdrawal Fee: 0.1 KDA.

Gate

• Official KDA exchange.
• Accessible to non-US residents, not available for US residents.
• KYC required.
• Supports deposits of KDA in all 20 chains (chain 0 to chain 19).
• When withdrawing KDA, Gate will transfer your KDA to your Chain 1 address.
• Withdrawal Fee: 1 KDA.

OKX

• Official KDA exchange.
• Accessible to non-US residents, not available for US residents.
• KYC required.
• Supports deposits of KDA in all 20 chains (chain 0 to chain 19).
• When withdrawing KDA, OKX will transfer your KDA to your Chain 1 address.
• Withdrawal Fee: 1 KDA.

Kucoin

• Official KDA exchange.
• Accessible globally.
• KYC required.
• As of August 6th 2021, deposit of KDA in all 20 chains (chain 0 to chain 19) is supported.
• When withdrawing KDA, Kucoin will transfer your KDA to your Chain 1 address.
• Withdrawal Fee: 1 KDA.

CoinMetro

• Official KDA exchange.
• Accessible to non-US residents and US residents.
• KYC required.
• Supports transfers on all chains (Chain ID 0 - 19), including cross-chain transfers.
• Supports TxBuilder, which allows for withdrawal transfers that can create named accounts or multi-signature accounts.
• Withdrawal Fee: 0 KDA.

Bittrex Global

• Official KDA exchange.
• Accessible to non-US residents, not available for US residents.
• KYC required.
• Supports transfers on Chain ID 0 only,
• Withdrawal Fee: 0.1 KDA.

Coinex

• Unofficial KDA exchange.

• Accessible globally.

• KYC not required.

• Withdrawal Fee: 0.1 KDA.