Are you looking for a complete guide on how to transfer Bitcoin from Coinbase to Kraken? If so, you are in the right place. At Stackzea, we strive to provide our readers with insightful, thoughtful analysis on current cryptocurrency news topics. However, we also seek to keep our users informed when it comes to other matters. These often include tutorials on how to use cryptocurrency safely. We hope that the knowledge that we provide makes it easier and safer for our users to use cryptocurrency.
Today, we’re going to cover the topic of transferring Bitcoin from two of the most popular exchanges on the planet. These exchanges are Coinbase and Kraken. Each of these have their place in cryptocurrency and are commonly used by traders and enthusiasts. If you have purchased Bitcoin on Coinbase, you might be wondering how to transfer that Bitcoin to Kraken. This is very common. Coinbase users often prefer to purchase Bitcoin on Coinbase and trade on Kraken.
We’re going to provide you with all of the information that you need to complete that transfer. Above all, we hope that you learn how to safely complete this transaction. There are many things that can go wrong if the transaction is not completed properly. We’ll help you to avoid these mistakes and make sure you safely send your Bitcoin from one exchange to another.
Transferring Bitcoin: Step-by-Step
The process of sending Bitcoin from Coinbase’s wallet to Kraken’s is one with two steps. Therefore, we are going to first show you how to transfer out of Coinbase. Then, we are going to show you how to transfer into Kraken. This is the easiest path forward and will provide you with maximum insight into the process. Additionally, we’ll show you some of the common problems that can happen during the process.
Transferring Bitcoin From Coinbase
The first step in the process is to transfer Bitcoin from Coinbase. To complete this step, you’ll need to sign into your Coinbase account. Then, select “accounts”. This screen should give you an overview of your assets. When you have reached that point, click your Bitcoin wallet.
Once you have clicked your Bitcoin wallet, you should see a couple of options. One of them will be “Send”. Once you have clicked “send”, you will be need to input some additional data. One of the pieces of information that you will need to input is an address. When you have reached this step, it’s time to go to your Kraken account.
Transferring Bitcoin into Kraken
Login to your Kraken account, then click “Funding” at the top of the page.
This will bring you to another page. This page will have a list of assets that you can choose from. When you find “Bitcoin” on the asset page, click “Deposit”. You will need to then acknowledge that you understand the minimum deposit requirement. Now, you will see a list of Bitcoin addresses, or one Bitcoin address, under the section entitled “Deposit Address”. You will need to select and copy your Bitcoin address.
Now that you have your Kraken Bitcoin deposit address, it’s time to return to your Coinbase screen. Once you have returned to Coinbase, you will paste your Bitcoin address into the field that asks for a Bitcoin address.
The Final Step in Transferring From Coinbase
The final step to complete the transfer is to enter in the amount of Bitcoin that you wish to transfer from Coinbase. This will depend on how much you wish to put into Kraken. Once you have decided, it is time to send the transaction. Keep in mind that Bitcoin transactions are irreversible. Once you click Send, you cannot cancel the transaction. So, be sure to double check the address that you are sending to and the amount that you are sending.
How Long Does the Transfer Take?
The answer to this question is that it could vary. Usually, Bitcoin transfers are completed in under an hour. However, it all depends on how busy Coinbase is, how busy Kraken is, and if the Bitcoin network is congested. If all three platforms are busy, it could take a couple hours. This is due to a couple of factors. Once Bitcoin is sent, it needs a few confirmations before it will show as accepted in Kraken. If the network is congested, it could take longer to get these confirmations as a result. It’s important to remember to be patient during this time.
Potential Problems With Transferring Bitcoin From Coinbase to Kraken
If you’re looking to transfer Bitcoin to Kraken, it’s important to remember to be careful when using the interface. The Funding interface can be confusing to beginners. Be sure to follow our guide step-by-step and contact customer support if you become confused or want clarity. Other problems could arise if you have an error in the address or amount. Be sure to double check these before you send your transaction.
Have questions about sending Bitcoin from Coinbase to Kraken?
If you need help or have questions about our guide and how to transfer Bitcoin from Coinbase to Kraken, you can feel free to reach out to [email protected]. We are happy to clarify.