How To Transfer Bitcoin from Coinbase to Kraken
If you are an active crypto maniac and earning a massive income from crypto investing, you probably have been using the multi-platforms for investing purposes. Sometimes you might need to transfer your crypto assets from one platform to another such as transfer from Coinbase to crypto com or Kraken.
As a Coinbase user if you’re wondering- How to send Bitcoin from Coinbase to another wallet? In a similar context, I am going to present intact guidance on transferring your cryptocurrency from Coinbase to Kraken. We will walk through this later on. First, we will understand Kraken and why we should transfer our cryptocurrencies from Coinbase to Kraken.
A glimpse of Kraken
Kraken login provides customers with the option to trade futures and margin accounts, riskier commodities beneficial for specific trading tactics, in addition to buying and selling cryptocurrency at market prices. The two most popular cryptocurrencies in the market, Bitcoin and Ethereum, can be purchased, sold, and exchanged with ease. Plus, it supports about 110 cryptocurrencies.
Pros of transferring assets from Coinbase to Kraken
Well! Before transferring your assets from one platform to another, it is good to understand why doing so is a perfect choice. For the same, we are going to analyze some of the reasons behind choosing Kraken transfer to wallet from Coinbase. Have a glance.
- Lower fees: The most significant reason why traders prefer Kraken is its lowest fees. Yes! People appreciate the cheapest way to transfer from Coinbase to Kraken. Moreover, the exchange rate offered by Kraken is 0.1% which is quite lesser than Coinbase’s exchange rate (o.4%- 0.5%). It can put up trades with additional overhead.
- Upgraded trading suite: The upgrader version of the Kraken platform is slick and has a wide range of professional trading tools including charting with TradingView.
- Types of transactions: You may make use of several Kraken deposit methods and transaction types on the Kraken platform. Apart from buying, selling and transferring assets, Kraken also allows its customers to put different trading options such as stop or limit orders, margin trading, future trading etc.
- Crypto staking: On the Kraken, users can stake assets and earn valuable rewards up to 21% as well. It supports 11 crypto assets to stake over on Kraken, and among them 3 (USD, EUR, and BTC) only support off-chain staking. On the contrary, Coinbase supports only 10 assets for staking and provides up to 6% rewards only.
- Customer support: As we know, Coinbase has a wide user base so because of congestion its customer service is quite slothful. On the other hand, Kraken has hands-on smooth and quick tackling of the customer issues anytime anywhere.
So, here I have driven enough to provide you with a notion about why transferring your assets to Kraken is a wise move. Now, heading towards the high point of our blog post, how to send crypto to Kraken.
Here’s how you can transfer crypto from Coinbase to Kraken
Before jumping into the details, you need to check whether you already have a Kraken account or not. If not, first create an account, gather the login details and afterwards you can proceed by following the pathway mentioned beneath it.
- First of all, perform the Coinbase login and hit the “Send/Receive” button available on the homepage.
- Now, on the other tab or window, launch the Kraken and login into it by proving the precise login credentials.
- Afterwards, switch to the formerly opened tab and navigate through the Coinbase dashboard.
- Here, pick up the crypto asset you need to transfer i.e. Bitcoin to proceed further.
- Go to Kraken and find the wallet address for that same crypto asset by hitting the “Funding button” to make Kraken send Bitcoin to the address.
- Next, tap on the crypto to deposit on Kraken and it will prompt a deposit address further.
- Copy the same address and move to the wallet address space located on Coinbase.
- Input the address in this space and verify the prompted details.
- Once it’s done, press the “Send Now” button and you can see that a deposit has been made to your Kraken account.
This way you can easily transfer your assets from Coinbase to Kraken seamlessly and can be the beneficiary of several additional benefits in trading.
In order to clarify whether you should transfer your cryptocurrencies (such as Bitcoin & Ethereum) from Coinbase to Kraken is a good choice or not, I have carefully crafted this write-up. I have covered the key points that you need to know before transferring such as what is Kraken, what benefits you can avail of after transferring your assets and how you can perform this in an easy manner. Hopefully, this read would be able to assist you by providing a full-proof, deliberately researched guidance about the same. Good Luck Traders!!