Kraken is a cryptocurrency platform that has become quite popular over the last few years.
Some members find the user interface to be more challenging, however. And while they do support a large number of cryptos and other features, some options are limited for US members.
Maybe you've heard about BlockFi's interest-earning accounts, and want to earn interest on your crypto deposits.
The good news is, it's really easy to transfer your crypto from Kraken to BlockFi.
Let's get started!
If you already have a BlockFi account, skip to step 2!
Use the button above to earn up to $250 in free Bitcoin!
In order to open a BlockFi account, you'll need the following:
BlockFi requires you be 18 years or older before signing up. Also, there are some states where BlockFi is not allowed, such as New Jersey and New York.
You'll need to create a password, agree with their terms of service and begin the identity verification process. This will include taking a photo of the front and back of your license.
Once your information has been reviewed, you'll hopefully get an approval email.
It usually takes only a few minutes, but it could take up to 1-2 business days.
After your account has been set up, it's time to log in and start your deposit.
BlockFi currently supports Bitcoin, Ethereum, Chainlink, Litecoin, USDCoin, PAXG, DAI, Tether, UNI and BAT.
As a result, these are the only types you can send over from Kraken to BlockFi.
Kraken does have transaction fees, so make sure the final amount you send over is the amount you want to after the fees are taken out.
Kraken's fees are pretty low, so that's a bonus.
The processing time for your transfer may vary due to a number of different factors, but it usually takes anywhere from 5-10 minutes or less.