Investing Simple Logo
Webull free stock promotionWebull is a free stock trading app that can allow you to earn compound interest by investing in the stock market.
Get Up To 12 Free Stocks Worth Up To $30,600!
Webull is a commission free stock and crypto trading platform. Right now, Investing Simple readers can get up to 12 free stocks with their current promotion. Open an account to receive 2 free fractional shares worth $3 to $300. Deposit any amount of money to receive 4 to 10 more free fractional shares worth $7 to $3,000. Promotion expires 10/31/2022.
Get $5 FREE Bitcoin From Coinbase Today
Coinbase is offering new users a $5 bonus paid in Bitcoin. All you have to do is make your first crypto purchase after signing up.
Written by Drew Cochran on January 20, 2022
FTC Disclosure

How To Transfer From Kraken To BlockFi 2022

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!

Best Free Stock Promotions

Robinhood Logo1 Free Fractional Share Worth $5 To $200, 18 Companies To Choose FromDownload
Webull LogoWin Up To 12 Free Stocks Worth Up To $3,000 EachDownload
M1 Finance Robo Advisor$10 Bonus (When You Deposit $100+)Download
Moomoo LogoWin Up To 5 Free Stocks Worth $3 To $2,000 EachDownload
Acorns LogoFree $10 Bonus When You Invest $5+Download

1. Create A BlockFi Account

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:

  • Social security number
  • Phone number
  • Valid ID
  • A real-time selfie

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.

2. Find Your BlockFi Wallet Address

After your account has been set up, it's time to log in and start your deposit.

  1. From your app or browser, click on the "Deposit" button
  2. Select the cryptocurrency you would like to deposit
  3. Copy your wallet address, or scan your wallet's QR code inside your Kraken app

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.

3. Withdraw Your Crypto From Kraken

  1. Select the "Funding" tab
  2. Click the Withdraw button listed within the cryptocurrency you'd like to withdraw
  3. Enter the crypto wallet address you'd like to send your funds to (your BlockFi address from before), and click "Add New Address"
  4. Enter the amount of crypto you'd like to withdraw
  5. Review the transaction details and confirm the transaction by clicking the "Withdraw" button

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.

Article written by Drew Cochran

Platform Reviews

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2022 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram