Thinking you’re ready to take your crypto experience one step further? We’re thrilled to let you know that today we’re going over 5 simple steps on how to transfer Bitcoin from Coinbase to Kraken (the best and easiest way that is).
Kraken is one of the “biggest and baddest” among the cryptocurrency exchanges and it’s likely the preferred choice for those seeking to trade Bitcoins and Ethers to buy other altcoins like Ripple, EOS, and so on. It’s also one of the most secure and safest exchanges to buy and trade digital currency.
Coinbase is among the most popular crypto exchanges and the go-to platform for newbies. Starting with Bitcoin can be a daring task but Coinbase has proven itself time and time again to be a reliable platform for beginners.
With that in mind, once a rather new user is ready to try other platforms, they can experience some difficulty with transferring from the Coinbase interface to different exchanges or wallets. Every trading platform is widely different and transferring over from Coinbase – which is a rather simple platform- to Kraken can be daunting. We’re here to help you along the way, let’s dive right in!
The Challenge: Kraken’s Interface
Let’s start by addressing the obvious: Kraken’s interface. This is always a “hot topic” since Kraken’s interface is popular for NOT being as user-friendly as consumers would like it to be.
Kraken is known for not being expensive and has a lot of active users. Kraken’s transfer fees are among the best in the industry when compared to other exchanges. Nonetheless, Kraken could give you a bad day when it comes to crypto trading. You might face some trouble once you’re ready to initially deposit cryptocurrencies from your wallet on Coinbase or even other exchanges.
After reading this guide, you’ll be able to send Bitcoin from Coinbase to Kraken in an uncomplicated way.
How to Transfer Bitcoin from Coinbase to Kraken (From a Coinbase Account)
Have some Bitcoin just sitting in your Coinbase wallet? The following steps are really simple to follow and we hope this helps you be a transfer master when it comes to sending Bitcoin from Coinbase to Kraken platform.
- Log in to Coinbase and on the Dashboard bar, click into “Accounts”.
NOTE: On Mobile Accounts, this will appear in the bottom bar, just right next to “Home Menu.”
2) Select the cryptocurrency that you want to send from your wallets.
3) This step is a bit more challenging. To provide you the best guidance let’s take a look at the following bullet points:
- Input the address that is found in your Kraken Account.
NOTE: If you don’t know where this address is, go into your Kraken account and tap on “Funding” which is at the top right corner next to the “Trade” option.
- Keep in mind that if you’re on the mobile view, you’ll need to tap the paper airplane icon on the top right corner of the screen and then, you can add the amount you want to send. You won’t send anything until you’ve entered your Kraken address for the deposit. Tap again to confirm.
Afterward, you’ll need to provide your Kraken Deposit Address.
- The first section that will catch your eye when you start filling out the transfer request on Coinbase is the recipient/destination box. When you get here, know this is the place you need to provide and input your wallet address where you’ll be receiving your Bitcoin from Coinbase.
- Then, select the cryptocurrency you want to deposit from the side menu you can find on the left side of the screen.
- Once that’s been selected, click or tap on “ Generate New Address” that way you can get the “Deposit Address.”
Not too complicated, right? Let’s continue!
4) Great! For this next stage, we type or enter the address that was just generated. Find that section just under “Recipient’ in your Coinbase Menu. Then you would choose the amount you want to transfer.
NOTE: If you’re in your Mobile, add the address and tap send. That would be it for you on mobile!
5) And last, but certainly not least, click “Continue”
Make sure to double-check all the details of the transaction and if all those details look good, confirm the transfer.
We hope this helps you to not have any issues when it comes to executing this process so you can find it simple, beneficial, and quick!
At this point, your cryptocurrency will be transferred normally from your Coinbase to your Kraken account, but first, keep in mind these facts:
Be patient! Let 30-45 minutes, or perhaps a bit more, for the transaction to complete. The amount of cryptocurrency is something to consider.
Feel free to check both your Kraken and Coinbase account for Transactions and make sure the transfer is successfully made.
So there you go, this is how to transfer Bitcoin from Coinbase to Kraken without all that much hassle!
How Long Does it Take to Send Bitcoin from Coinbase?
We know you’d prefer for these kinds of transactions to be executed as fast as possible.
For us, it is also important to let you know what you should expect every time you need to send or transfer money between exchange platforms.
First off, the transfer normally is a two, three minutes process and is very easy to execute. In most cases, you can expect and be able to see your funds in your wallet just a couple of minutes after you send them or some hours after your transfer, although normally is a really quick process.
The speed of the process will vary depending on the networks. Also, take into consideration that these transactions are verified by miners. Again, the speed at which this is all executed is highly dependent on the network.
Were you able to share and transfer with the steps provided? We are looking forward to hearing from you and your experience after reading this guideline. Keep in mind the notes and recommendations given above, paying special attention to the Destination Address and where to find it. Also, always double-check the successful transfer to your Kraken account.
For anyone wondering how to fund a Kraken account, this is one sure-fire way to do so!
Did you find this helpful? Let us know in the comments!
See you soon!
Jesus Cedeño is a certified doctor turned cryptocurrency expert, writer, and investor who lives in New York City. Jesús specializes in cryptocurrency product reviews, tutorials & technical analysis. Follow him on LinkedIn to stay up to date on his latest work on blockchain, decentralization and crypto investments.