What you'll learn 👉
Introduction
Coinbase and Kraken are both in the top five cryptocurrency exchanges by normalized trading volume, according to Coingecko. In liquidity, Coinbase is above Kraken. On the other hand, Kraken offers more trading pairs and a different set of features compared to its competitor.
Some individuals think of Coinbase as a “gateway” exchange where they can acquire bitcoin rapidly and easily, whereas Kraken is more suited to experienced crypto users. Transferring your Bitcoin from Coinbase to Kraken is a very simple process that we will go through in this article.
Kraken is known for being one of the safest cryptocurrency exchanges with a large amount of liquidity. Because it offers such a diverse range of trading pairs, it’s not surprising that many traders who have already used Coinbase will want to try trading on the Kraken exchange at some point in time.
Kraken is a cryptocurrency exchange that also offers margin accounts, futures, staking, and other services. Coinbase also has trading, staking, and institutional features, but it may be a better option for newcomers. Kraken has the best costs, however, Coinbase is excellent for beginners for digital storage.
According to several sources, the Kraken’s UI is one of the reasons why novice traders choose to begin their trading adventure on Coinbase. Although this claim is debatable, Kraken’s interface is said to be overly complicated. You’ll see that moving Bitcoin from Coinbase to Kraken isn’t difficult. Due to changes in Coinbase’s UI, several old tutorials have become obsolete.
For instance, they all start with the identical suggestion: go to Coinbase’s Accounts page. There is no longer a tab for this on the exchange website. The Send button was described as a button with a paper plane symbol by the instructions. Such an icon no longer exists; it was deleted. This updated guide has current information.
Step By Step Guide
The following procedures must be followed to transfer BTC from Coinbase to Kraken:
- To begin, you must first acquire a BTC address to which Coinbase will send the funds. It’s worth noting that Bitcoin on the Kraken exchange is referred to as XBT rather than the more popular BTC. Don’t be fooled by it! To get started, go to the Kraken exchange, and click on the Funding tab. It’s in the top-right corner of the homepage, in the horizontal menu.
- All the remaining stages will be completed on Coinbase. On Coinbase, go to the Portfolio tab.
- Choose your Bitcoin wallet and click the “Send” button, then fill out the Amount section of the pop-up window with the amount of BTC you want to send.
- The Kraken BTC address (which was collected during step 1) must then be entered into the Recipient box.
Additionally, the quantity of BTC that to be sent from Coinbase to Kraken must be specified. It’s time to press the Continue button after you’ve input the location and chosen the amount. This is the last step.
When making bitcoin transfers, it’s critical to be cautious when filling out the addresses and quantities. Remember that the Bitcoin ledger is unchangeable, and acts are irreversible. It’s preferable to double-check the information before clicking OK then to discover that money was sent to the wrong address.
Another common blunder is utilizing the wrong cryptocurrency address. Bitcoin (BTC or XBT) addresses differ from Bitcoin Cash (BCH) addresses, for example. Make sure you’re using the correct address for the currency you’re looking for. It’s also a good idea to check the transaction statuses to see if the activity was completed entirely or if there’s a need to wait longer if the transaction is still pending. If the Pending status remains for an extended period, it may be necessary to contact the exchange’s customer service.
What to Do If the Coins Didn’t Hit the Wallet?
The transaction may take a long time. It usually takes 30 minutes to many hours. As a result, it’s best not to get too worked up if the transaction doesn’t finish right away or even within an hour. If the money hasn’t arrived in your Kraken wallet after two hours, it’s time to seek assistance. The transaction status may be seen on the Portfolio tab’s Recent Transactions section.
If the transaction status on Coinbase is “pending,” it’s best to contact the Coinbase support staff because the funds are likely still within Coinbase’s possession. The help button may be located on the right side of the page bottom on any (!) page of the Coinbase website.
If the transaction on Coinbase has been marked as “Complete,” but the bitcoins have yet to arrive in the Kraken wallet, it’s time to contact the Kraken support staff. Most likely, it’s now their responsibility to execute the transaction or explain why the assets have yet to appear in the account. The Contact button at the bottom of the homepage can be used to contact customer service.
It’s fine to contact both exchanges if you’re not sure which one has the funds. It’s critical to supply the support staff with all relevant information, such as the transfer date and time, the status of the transaction on both exchanges, the number of bitcoins transmitted, the account name, and so on. It will improve the likelihood that the support team will have enough information to find your coins.
A Short Recap
Here’s a quick rundown. The recap is in the form of a sequence of tabs and buttons for your convenience.
Funding > Deposit > Generate New Address on Kraken (write it down, copy it, or use a QR code)
On Coinbase, go to Portfolio > Bitcoin > Send (amount) > Recipient (copy and paste the address) > Continue
How to Transfer Bitcoin from Kraken to Coinbase?
We now understand how to move Bitcoin from Coinbase to Kraken. It’s not difficult to do the reverse. Except for the titles of certain tabs and buttons, the procedure is nearly identical. Here’s a quick guide:
On Coinbase: Portfolio > Bitcoin > Receive button (the new address can be written down, copied, or scanned as a QR code)
On Kraken: Go to Funding > Withdrawal > Add an Address (insert your Coinbase wallet address here) > Look at the Withdrawal button > Button to Confirm Withdrawal
How to Transfer Other Coins?
Transferring Ethereum, Ripple, Zcash, Litecoin, Bitcoin Cash, and other currencies from Kraken to Coinbase or vice versa isn’t difficult if you already know how to send Bitcoin. You may follow the same steps if you want to use a different coin instead of Bitcoin. The addresses will look different to the Bitcoin ones, this is intentional and not always an error with the text.
Transferring Ethereum from Coinbase to Kraken:
On Kraken: Funding > Deposit > Generate New Address (write it down, copy it, or use a QR code)
On Coinbase: Portfolio > Ethereum > Send (specify the amount) > Recipient (paste the address) > Continue
Transferring Ethereum from Kraken to Coinbase:
On Coinbase: Portfolio > Ethereum > Receive button (the new address can be written down, copied, or scanned as a QR code)
On Kraken: Funding > Withdraw button > Add Address (paste the Coinbase address) > Review Withdrawal button > Confirm Withdrawal button
Transferring Ripple from Coinbase to Kraken:
On Kraken: Funding > Deposit > Generate New Address (write it down, copy it, or use a QR code)
On Coinbase: Portfolio > Ripple > Send (specify the amount) > Recipient (paste the address) > Continue
Transferring Ripple from Kraken to Coinbase:
On Coinbase: Portfolio > Ripple > Receive button (the new address can be written down, copied, or scanned as a QR code)
On Kraken: Funding > Withdraw button > Add Address (paste the Coinbase address) > Review Withdrawal button > Confirm Withdrawal button
Transferring Litecoin from Coinbase to Kraken:
On Kraken: Funding > Deposit > Generate New Address (write it down, copy it, or use a QR code)
On Coinbase: Portfolio > Litecoin > Send (specify the amount) > Recipient (paste the address) > Continue
Transferring Litecoin from Kraken to Coinbase:
On Coinbase: Portfolio > Litecoin > Receive button (the new address can be written down, copied, or scanned as a QR code)
On Kraken: Funding > Withdraw button > Add Address (paste the Coinbase wallet address) > Review Withdrawal button > Confirm Withdrawal button
Here is a list of potential crypto exchanges that can be good alternatives to Coinbase and Kraken:
- Binance review
- Cex.io review
- Bitfinex review
- PrimeBit review
- Kraken review
- Bybit review
- Stormgain review
- SimpleFX review
- eToro review
- Deribit review
- FTX review
Conclusion
As you can see, moving bitcoin and other cryptocurrencies from Coinbase to Kraken and back is a simple operation. The most important and difficult aspect is to keep focus to avoid typos in the address and currency confusion.
The best way to do this is to copy and paste the address rather than typing it out. vWe hope that this tutorial will assist you in completing the work quickly and efficiently.
