Coinbase has long been a convenient tool for storing and working with cryptocurrency, but some users may prefer to make the jump over to Kraken, which offers more options for altcoins than Coinbase. If you’re wondering how to transfer bitcoin from Coinbase to Kraken, or any other cryptocurrency, just follow these 4 easy steps.
Step 1 : Go To Accounts Tab on Coinbase
Open Coinbase and go to Accounts. On your computer, it’s at the top of the screen, while on the mobile app, it’s at the bottom.
Step 2: Key in the Amount on Coinbase
Select your cryptocurrency. Let’s go with the first option, Bitcoin. Key in the amount you’d like to send, and click on Send. Don’t worry, you can always change this later as your funds won’t be sent right away – you’ll first have to enter your Kraken address.
Step 3: Go to Funding Tab on Kraken & Generate Address
Log into Kraken and click on the Funding button at the top of the page. You’ll see a side menu open up on the left. Simply select the cryptocurrency you’re transferring over, so let’s choose Bitcoin. Click Generate New Address and copy it to your clipboard. You can also opt for the QR Code version of your Kraken address.
Step 4: Paste Deposit Address From Kraken on Coinbase
Go back to Coinbase and paste your copied Kraken address into the Recipient field. You can modify the amount of funds you’re transferring that we had previously entered in Step 2.
You’re all set! Hit Continue and don’t forget to review your transaction details carefully. Ensure your recipient address is correct and that it’s for Bitcoin.
All too often, users may accidentally select the wrong cryptocurrency or make a typo in the address, which unfortunately results in lost funds that cannot be recovered. Always double-check before authorising a transfer.
Once you’ve confirmed everything, complete the transfer by clicking Send. It’s done! However, your Bitcoin won’t show up in Kraken instantly.
Give the transaction roughly 30-45 minutes to complete. You should be able to view your Coinbase transactions to make sure it has gone through, and your funds will appear in your Kraken account once the transaction is finished.