Crypto Currencies

How To Transfer Bitcoin From Coinbase To Kraken

About kraken

Kraken  is an online cryptocurrency exchange US based. Site is quite popular on the network due to the large trading volume. Another fact whya it become so widespread, it allows you to deposit and withdraw funds in different currencies: dollars; Euro; Canadian dollars; Japanese yen; pounds; popular cryptocurrencies

The company began offering cryptocurrency exchanges on July 28, 2011.

The Kraken exchange interface has been translated into two languages:

  • English;
  • Japanese

Registration on the Kraken cryptocurrency exchange

To be able to exchange cryptocurrencies or buy / sell them for fiat currencies, the user have to register. To do this, you need to fill out a standard form:

  • login;
  • password;
  • email

A letter comes to the mail with a request to verify the e-mail. Only after that the user gets access to the personal account. To get privileges, you need to go through full verification.

Verification your account at Kraken

Only verified users can use all the functionality of the Kraken exchange. There are several levels of verification on the platform:

Level 0 gives after registration, while deposits and withdrawals are not available;

Level 1 – you need to enter your name, date of birth, country and phone number, after which you will be able to replenish your account, withdraw money and trade on the exchange;

Level 2 – the user must confirm the address of residence, after which he will be able to replenish and withdraw money from the wallet in fiat currencies;

Level 3 – confirm the address of residence, submit the TIN, after which their limits will increase;

Level 4 – for those who are interested in maximum limits or corporate registration, you need to contact Kraken’s technical support.

Verification on the Kraken is much easier than on other exchanges, even without sending a passport, you can get euros from the card and withdraw sufficient amounts.

But in order to get USD you still have to send a scan of your passport. If you don’t want to do this at all, you can use USDT – this is a token whose value = 1 dollar.

Security of Kraken

The Kraken exchange, unlike other platforms, offers one and only way to increase account security. Users can enable two-factor authentication. This function works not only when logging into an account, but also to gain access to trading on the exchange.

Advantages of the Kraken exchange

  1. A large number of currency pairs.

The Kraken cryptocurrency exchange supports a fairly large number of pairs. All major currency pairs are represented on the Kraken (Bitcoin; Ethereum; Euro;dollar and others).

  1. Margin trading.

Traders can take advantage of leverage, which will allow them to increase their income from cryptocurrency trading.

  1. Application for iOS. The developers offer to trade through the iOS app. Apparently, they forgot about Android users.

How to transfer Bitcoin from Coinbase to Kraken

If you have some BTC left in your Coinbase wallet you can transfer them to Kraken platform. To do so, you can follow following steps:

  • Using your ID and password login to Coinbase account and on the dashboard click “Accounts”
  • Then select cryptocurrency which you want to send (in our case Bitcoin)
  • Input your address in your Kraken account ( you can find the address after clicking “Funding”)and confirm. After provide your kraken deposit address.

The first section that catches your eye when you start filling out a transfer request to Coinbase is the recipient / destination field. When you get here, know that this is where you need to enter and input your wallet address where you will receive your Bitcoins from Coinbase.

Then select the cryptocurrency you want to deposit( from the side menu that you can find on the left side of the screen). When selected, click “generate New Address” and you will get your “Deposit address”. A bit complicated.

  • Next step you need to enter just generated address. Find “Recipient ” section, in your Coinbase menu. After choose amount you want to transfer.
  • Last step, please check twice all transaction details, and if everything looks good, confirm the transfer.

Some additional notes

If you follow steps explained above, your cryptocurrency will be transferred normally from your Coinbase account to Kraken account.

The whole process takes about 45 minutes or maybe more. So you need to be patient.

After confirming transaction feel free to check both you accounts.

Please pay special attention to the Destination Address and where to find it.

Lastly , Do not forget to double-check the successful transfer to your Kraken account.

This is the end of How To Transfer Bitcoin From Coinbase To Kraken article. Thanks for reading.

Also see: How to Transfer a Bitcoin from Coinbase to GDAX

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