With the rising demand for cryptocurrency, more and more trading platforms are coming into existence. Today, there are hundreds of trading apps competing for your membership.
Kraken was one of the first cryptocurrency platforms on the scene. It was founded in 2011, even before Coinbase in 2012.
Crypto.com is another top platform to check out with one of the largest collections of coins available for trading. If you want to transfer your assets to a new platform, then Crypto.com could be the right platform for you. Be sure to check out our complete Crypto.com review.
In this article, we highlight each step to transfer from Kraken to Crypto.com. Let's dive in!
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The transfer process between these two platforms is actually fairly simple. It takes just 3 steps:
Let's jump into each of these steps in more detail.
In addition to buying and selling various cryptocurrencies on Crypto.com, they also offer members a metal visa card with up to 8% rewards and over 250 tradable tokens. The platform is quickly making a name for itself with a feature rich platform. The app in the app store currently has a 4.3 star rating from over 74,000 reviews.
To send crypto from Kraken to Crypto.com, you will need a Crypto.com account.
If you already have a Crypto.com account, you skip to the next step!
If not, here are the steps to open an account:
If your information is correct and your images are clear, this verification can be completed in as little as 5 minutes!
Cryptocurrencies are held in an account like other assets. This account is called a wallet, and each wallet has a unique address. You can think of this address like a routing and account number. When sending crypto from one location to another, you need an account or wallet address to send it to. Additionally, each crypto has a unique wallet address - Bitcoin is held in a Bitcoin wallet, and Ethereum is held in an Ethereum wallet.
Sending a particular cryptocurrency to a non matching wallet could result in the loss of your assets forever.
Finding this crypto address in Crypto.com is easy:
You will use this address in the Kraken app to initiate a transfer from Kraken to Crypto.com.
Sending crypto from Kraken to Crypto.com is a simple process. Before diving in, it's important to know that there are applicable fees and minimums.
The fee will depend on the crypto that you want to transfer. For example, if you initiate a transfer for 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.
So, here's how to send crypto from Kraken to Crypto.com:
Transfers between Kraken and Crypto.com are fairly simple.
However, it is important to ensure you use the correct wallet address. If you are transferring Ethereum, and you accidentally copy and paste the wallet address associated with another crypto, then you could lose your Ethereum forever.
After copying and pasting the correct address into Kraken, the process is as simple as tapping "Withdraw!"