How To Transfer From Kraken To Gemini 2022

Kraken was established in 2011 and helped pave the way for the modern Bitcoin revolution. 

In 2013, investors could officially begin trading cryptocurrency on the Kraken platform. 

However, Kraken lacks many beginner-friendly features that other popular platforms provide. Additionally, some Kraken services are not yet offered in the United States. 

Because of this, you might be wanting to transfer your crypto assets to another platform.

Gemini is a great crypto trading platform for many because of its large collection of cryptos fully available to US citizens. Additionally, Gemini has some of the best security features in the industry.

Whatever the reason may be for wanting to transfer from Kraken to Gemini, we will show you how to execute this transfer step-by-step!

How To Transfer From Kraken To Gemini

The process for transferring your crypto from Kraken to Gemini can be completed through three steps:

1. Open and verify your Gemini account
2. Prepare your Gemini account for the crypto deposit
3. Send crypto from Kraken over to your new Gemini account

We will explain each step in more detail below, so keep reading!

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1. Open A Gemini Account

Gemini enables investors to buy, store and trade cryptocurrencies.

This exchange is one of the few cryptocurrency platforms that has never been hacked. This means that Gemini’s security precautions are working. 

Gemini has also built a reputation as an investing platform with a simple user interface. 

As with any crypto trading platform, Gemini does charge platform fees.

Since crypto fees are often complex and vary from crypto to crypto, the list of fees can be found on the official Gemini website.

The process to open a new Gemini account is straightforward and can be completed by following the below steps:

1. Sign up for a Gemini account by clicking here!
2. Create your account sign in. This is completed by providing your name and email address and then by creating an account password. 
3. Verify your email address by following on-screen prompts.
4. Set up 2FA (2 factor authentication) by providing your home address and phone number. They will also ask you to verify your phone number during this step.  
5. Add a bank account or skip this step by clicking the “I’ll do this later” button in the top right of the platform. 
6. Verify your identity by providing your legal name, address, date of birth, and social security number. This step is for user verification as well as for tax purposes. 
7. Upload required documents to finalize the account setup. You can either upload a picture of your passport or a picture of your driver's license. 

After completing the above steps and uploading the required documentation, you will then submit your verification information for review. 

According to the Gemini website, verification typically takes 2-3 business days to complete. If the process is taking any longer you can contact customer support for help. 

2. Locate Your Gemini Wallet Address

Now that you have opened and verified your Gemini account, it is time to locate your crypto wallet address.

You will have a different address for each type of cryptocurrency that you hold within Gemini. Each one is 100% unique, and mixing them up could result in the loss of cryptocurrencies.

You need to make sure you send Bitcoin to a Bitcoin address only, for example.

Here's how to locate your wallet address on Gemini:

1. ​There is a “Transfer” button that you will click in the top right corner of your newly formed Gemini account
2. From that point, click the section “Deposit into Gemini” to proceed
3. You will use the dropdown menu to select the specific crypto that you are planning on transferring over to Gemini from Kraken
4. You will then copy the unique deposit address for your account and that specific crypto

3. Withdraw Crypto From Kraken

Last step, time to send your crypto from Kraken to Gemini:

1. Sign into your Kraken account and select the “Funding” tab
2. Click the “Withdraw” button (if you are unable to, you may need to verify your Kraken account)
3. Use the search function to find the cryptocurrency you are transferring (make sure the cryptocurrency you are transferring is the same on Kraken and Gemini or you will lose your funds)
4. Click the “Add Address” button and name your wallet address in the “Address Label” section (ex. Gemini Bitcoin Wallet)
5. Paste your unique Gemini deposit address into the “Withdraw Address” space and click “Add New Address”
6. Enter in the amount that you would like to transfer in the “Withdraw Amount” box 
7. You can use the percent of account buttons if you would like to transfer a certain percentage (be mindful of transfer minimums listed on the bottom of the page)
8. Continue to the confirmation window by clicking “Withdraw” button
9. Once you confirm the transfer, finalize the process by selecting “Withdraw”
10. You may be prompted to verify the transfer either on your 2FA (2 factor authentication) device or via email
11. The final step is to patiently wait as your funds are transferring, which usually takes under an hour (confirmation time varies depending on network traffic and the crypto blockchain)

Since transferring cryptocurrency does carry risk, especially if information is entered incorrectly, the above information can be verified on the official Kraken and Gemini websites.