Kraken is a cryptocurrency platform that has risen in popularity over the last few years. Some members find the user interface to be more challenging. And while they do support a large number of cryptos and other features, some options are limited for US members.
For some, Coinbase may be better suited for your needs as they have a larger collection of cryptos and cater well to US members.
Additionally, Coinbase has a fantastic user interface that makes trading crypto simple.
Whatever the case may be, if you are looking to transfer crypto's from Kraken to Coinbase, then this is the article for you.
We will provide step by step instructions on how to execute this transfer.
Transferring crypto from Kraken to Coinbase is not difficult.
The process can be completed with the 4 steps below, which only take a few minutes to complete, unless you need to wait for verification.
Each of these steps has a few steps themselves. Let's dive into those now.
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Coinbase is a top rate platform for a number of reasons.
Chief of these is their simple user interface that makes trading crypto seamless. They also offer a number of other benefits like free education resources and an advanced platform for more seasoned traders.
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Before executing a transfer from Kraken to Coinbase, you will need to set up a Coinbase account.
Setting up a new Coinbase account is simple:
When creating a Coinbase account, you can skip verification and start trading cryptos.
However, to send/receive crypto, you do need to verify your account.
This verification is done through uploading a photo of your driver's license or other state issued ID:
You will receive an email once you are verified or if Coinbase needs more information.
If the image of your ID is clear and matches the information in your account, verification will be completed in mere minutes.
When transferring crypto assets out of Kraken, you will need a location to send them to.
In this case, that location is going to be a crypto wallet from Coinbase. Each crypto has a specific wallet, and each wallet has a specific address.
This address can be found in Coinbase quickly and easily:
Always double check to make sure you are sending cryptocurrencies to the correct wallet type.
If you send Bitcoin to an Ethereum address, for example, it will likely be lost forever.
Sending crypto from Kraken to Coinbase is a fairly simple process. Before diving into the process, it's important to note that there are applicable fees and minimums.
Withdrawing crypto from your Kraken account will result in a transfer fee.
The fee will depend on the crypto that you are transferring. For example, if you want to transfer Cardano, then the fee will be 1 ADA. Additionally, there is a minimum transfer amount that varies by crypto. With Cardano, the minimum transfer is 5 ADA.
To see all fees and minimums, take a look at Kraken's fee schedule here.
Here's how to send crypto from Kraken to Coinbase: