Knowing how to transfer crypto from Coinbase to Kraken can help you to take advantage of lower trading fees, enhanced security features, and help to maintain a more diverse portfolio. This guide will take you through everything you need to know about the process and how to transfer your crypto successfully, every time.
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Top Reasons to Transfer Crypto from Coinbase to Kraken
Both of these are pretty well-established and are considered some of the best crypto exchanges to buy and sell assets. It should be pretty easy to transfer assets between them. Check out our Kraken vs Coinbase comparison for a more in-depth view of the differences between these platform, but here’s a quick recap of what makes each of them stand out:
- Earn $200 in free crypto after completing sign-up process. Terms apply.
- Variety of products including exchange, staking, wallet
- Advanced Trading options for experienced traders
- Exceptionally secure exchange with proof of reserves
- Supports many different funding options
- Accepts users from across the globe including USA and Canada
- Very high trading volume
The benefits of switching to Kraken
Approaching how to transfer crypto from Coinbase to Kraken can be a daunting task, but there are some benefits to consider:
- Lower trading fees – High-volume traders may benefit greatly from the lower fees offered on the Kraken Pro platform.
- Security features – Kraken is well-known for its robust security features and its manual withdraw process often appeals to more privacy-conscience users
- Advanced features – Sending your assets to Kraken means that you will get access to features, such as fiat-to-crypto trading, margin trading, futures, as well as a broader range of staking options.
- Diversification – spreading out your assets across a variety of platforms allows you to mitigate the risk of continuous downtimes, and it provides you with access to various competitive APYs, not to mention, withdrawal options and analytics.
Can You Transfer Crypto from Coinbase to Kraken? Easy Guide for Beginners
It’s easy to feel intimidated by complex platforms and systems, but learning how to transfer crypto from Coinbase to Kraken is a surprisingly simple process that both beginners and experts should be able to handle with a little guidance. All you need to do is to withdraw your assets from Coinbase so that you can deposit them on Kraken.
Whether you are a beginner looking to make your first transfer, or an expert looking for ways to streamline the process, this guide will take you through every step of the process, in detail.
Step 1: Actions to Take Before Moving Your Crypto
There is some preparation required to transfer crypto from Coinbase to Kraken. We recommend completing these steps at the very beginning, to make the process easier.
Sign in to your Coinbase account
If you need a refresher on how to sign in to your Coinbase account before we dive into how to transfer crypto from Coinbase to Kraken, all you need to do is:
- 1. Visit the Coinbase exchange.
- 2. Click the Sign In button in the upper-right corner.
Sign up or sign in to your Kraken account
You will also need to be logged in to your Kraken account to complete the transfer process.
- 1. Visit the Kraken exchange.
- 2. Tap the Sign Up button in the upper-right corner of the page.
If you have not created a Kraken account just yet, you will have to do this before you kickstart the send crypto from Coinbase to Kraken process.
- 1. Visit Kraken.
- 2. Click the Create Account button in the upper-right corner of the screen/ or click on Get Started.
- 3. Complete the form with all the necessary information, including your email address, your preferred username, your chosen password, your country of residence, accepting the terms and conditions.
- 4. Tap Create Account.
- 5. Activate the account by visiting the inbox connected to your account’s email address, and clicking on the activation link or copying the activation code.
- Trustworthy exchange
- Supports many different funding options
- Accepts users from across the globe
- High trading volume
One of the original cryptocurrency exchanges
Exceptional security with no hacks in history of exchange
Amazing reviews from crypto users
Not available in New York
Account verification can be time-consuming
No staking
Set up your 2FA
In this day and age, 2FA is a non-negotiable that ensures you are the only one who can access your account, and therefore the only one that can authorize transactions and changes, like looking to transfer crypto from Coinbase to Kraken. To complete this step:
- 1. Head to the top-right corner and click on the drop-down menu connected to your account.
- 2. Click on 2FA Settings.
- 3. Choose the Authenticator App or YubiKey to continue.
Confirm your transfer is compatible
Crypto transactions are often irreversible. This is why we recommend asking yourself these questions from the outset, when you transfer crypto from Coinbase to Kraken.
- Is your preferred coin listed on both Coinbase and Kraken?
- Does Kraken support deposits for this coin?
- Which network does Coinbase use to send this coin?
- Is this network also available on Kraken?
- Are there any memos, tags or other references that need to be included when transferring this type of coin?
- What’s the minimum deposit amount for this coin on Kraken?
- Does Kraken require confirmation before funds will be deposited?
Step 2: Find and Copy Your Deposit Address
Since you have already logged in to your Kraken account, finding your deposit address should be a breeze.
- 1. Locate the Funding tab, located in the main menu, or head straight to the Transfer tab.
- 2. Click on Funding to open your main wallet dashboard, or click Transfer to get started.
- 3. Find the coin you would like to transfer and tap the Deposit button next to it, or select the Deposit tab and search for the coin you would like to transfer.
- 4. Select the network you would like to use for the transfer (CryptoVantage tip: Make sure your coin is supported by the network you select, and that the network is supported on both Coinbase and Kraken to avoid losing your assets along the way).
- 5. Click Generate New Address.
- 6. Copy this address precisely, to be used in the following step.
After you generate a new address, you’ll be shown the above image. You can either copy your deposit address to your clipboard, or scan the QR code using your mobile device. This process is the same for mobile accounts. You’ll also see the minimum number of the crypto asset you can deposit.
Step 3: Initiate the Transfer on Coinbase
Next, in the process to transfer crypto from Coinbase to Kraken, you will need to head back to Coinbase to move the funds.
- 1. From the Coinbase dashboard, click the Send & Receive button at the top of your screen. On the Coinbase App, navigate to the Home tab and find the Send button at the top of your screen.
- 2. Double-check that you have selected the Send tab at the top of your screen
- 3. Select the coin you would like to transfer
- 4. In the Select Recipient tab, paste the deposit address that you copied in the previous step. If you’re using the Coinbase mobile app, simply scan the QR code that’s on Kraken to enter the address. If the transaction details look correct, click “Continue”.
- 5. Enter the amount you intend to transfer (toggle between fiat currency view and cryptocurrency view by tapping the arrow icon at the bottom of this section).
- 6. Click on Preview Send
Step 4: Review and Confirm the Transfer
You’ve nearly crossed the crypto transfer finish line! Once you reach this stage, all that is left to do is to double-check all the important details. This includes the coin you would like to transfer, the network you are using, your deposit address, and the amount.
Tip: If this is the first time that you have had to figure out how to transfer crypto from Coinbase to Kraken, we recommend testing the process first with a small amount.
Rookie mistakes to avoid when making the switch
Still not sure if you have the hang of how to transfer crypto from Coinbase to Kraken? Don’t panic. Let’s walk you through how to send crypto from Coinbase to Kraken like an expert – with some critical dos and don’ts to take note of.
After you’ve taken a moment to review everything, simply hit Send to initiate the transaction to transfer crypto from Coinbase to Kraken. Then, all that is left to do is wait for the assets to appear in your Kraken account.
Waiting for Confirmation? What to Expect After Hitting Send
Your funds should now be on the move. But, the process does not end there. Let’s tackle some of the key questions you might be facing as you wait for the funds to reflect in your account.
Are there any fees for sending crypto from Coinbase to Kraken?
The answer to this question is more complicated than you might expect. When you transfer crypto from Coinbase to Kraken, you will need to pay a network fee. You will need to pay this fee, every time that you withdraw crypto from Coinbase (and most other popular exchanges), but it does not come directly from the platform. Instead, it comes from the blockchain (network) that records the transaction. The fee structure can vary depending on the asset you’re sending. Here are some key points and actual figures to consider:
- Withdrawal Fee: Coinbase typically charges a network fee for sending assets. For example, Bitcoin transfers can incur fees ranging from $1.00 to $5.00, depending on network traffic. Other assets like Ethereum can have fees ranging from 0.5% to 1.5% of the transaction value.
- Network Type: Kraken supports the Lightning Network for Bitcoin transfers, which drastically reduces fees compared to the standard network. On the Lightning Network, fees can be as low as a few cents (typically under $0.01), offering a much cheaper alternative to traditional Bitcoin transfers.
- Network Congestion: Transfers made on the main Bitcoin network can have higher fees during periods of heavy traffic, sometimes up to $20 or more. Using the Lightning Network not only reduces fees, but also ensures faster transaction times, helping you avoid long delays due to network congestion.
Fortunately, Kraken will not charge an added fee for your deposit, and platform fees should not apply when you are not directly buying and selling assets.
How long do transfers take?
The time it takes for a transfer to reflect in your account depends on the type of crypto you send, the network you are using and the level of congestion.
Kraken typically won’t credit your account with the deposit amount until the blockchain has received a set number of confirmations. The number of confirmations required depends on the asset. For example, BTC transfers typically require only about 3 confirmations and can be completed in under 40 minutes, whereas ETH transfers on the base network require 40 level-1 confirmations, but can take as little as 20 minutes. Other transactions, like transferring USDT via the Solana network, XRP, ATOM, and ALGO transfers, happen near-instantly.
That’s It – You’re Ready to Move Crypto with Confidence
Now you know exactly how to transfer crypto from Coinbase to Kraken. It really is as simple as withdrawing and depositing funds. Just remember to double-check all those finer details.
Congratulations! This process offers a great opportunity for both casual and advanced traders to leverage lower trading fees, stay at the cutting-edge of new features and to expand their reach across multiple platforms.
Frequently Asked Questions
When you don’t receive your crypto after a transaction, it’s essential to act quickly and carefully. Crypto transactions are irreversible, so double-checking every detail before and after the transaction is critical. Here’s how to navigate the situation if your coins haven’t arrived:
- Double-Check Transaction Details: Verify that all details, especially the wallet address, are entered correctly. Even a small mistake in the address can result in a permanent loss of funds.
- Transaction Fees: Transaction fees need to be validated by miners (PoW) or validators (PoS), before your transaction can be added to the blockchain. Transactions with higher fees tend to take priority and will be processed faster. Ensure that this is not what is delaying your transfer.
- Wait Time for Confirmation: Crypto transactions can take varying times to confirm based on the blockchain. For instance, Bitcoin transactions can take 10 minutes to an hour, while Ethereum typically takes about 5 minutes, depending on network traffic.
- Recovery Services: If you enter the wrong address or have issues retrieving coins, some services may offer recovery solutions, though at a cost. Be aware that services could charge anywhere from 10% to 20% of the transaction amount for such recovery attempts, and success is not guaranteed.
- Contact Customer Support: If everything appears correct, but you still haven’t received your coins, reach out to the support team of the platform you used. Include your transaction ID, wallet address, and any relevant details to expedite the process.
As one of the industry’s leading crypto exchanges, Kraken only offers a custodial wallet service. That is to say, it stores your crypto on your behalf.
If the long-term safety of your assets is your main concern, this might not be the best solution. Hardware wallet providers, like Rockwallet, Ledger, Trezor, allow you to store your private key offline. This gives you increased protection and control over your funds.
Kraken supports a huge range of over 250 cryptocurrencies. This usually includes the networks to match. However, if you do find yourself in a situation where you need to transfer an asset and the corresponding network is not supported for deposits on Kraken – bridging is usually the best solution.
This involves essentially transferring the value of your crypto between two blockchains. Our guide to cryptocurrency bridges and how they work breaks down this method, to help you “bridge” the gap between blockchains and exchanges.
On Kraken:
Make sure you are logged into your account, as we detailed at the start of this guide. Then, head to the Funding tab > Deposit or > Withdrawal, depending on the transaction. Here, you will find the Transaction History, where you can access information on all your recent transactions, including transfers.
On Coinbase:
Log in to your Coinbase account. Navigate to the Assets tab, and select the coin linked to the transfer. Scroll down to find the transaction history linked to that coin.
Unfortunately, such a small mistake can have serious consequences. In a best-case scenario, you will receive an error message, or your transaction will be blocked. However, you could also lose access to your transferred assets, forever. If this does happen, be sure to contact the exchange’s support team as soon as possible.
Yes. One of the key elements of crypto is that it’s completely transferable. You can transfer between all major exchanges.
The only exception is the crypto on banking apps like SoFi where you actually just own an IOU for crypto. Therefore the only way to get crypto off those platforms is to sell it and use the fiat to buy crypto on another exchange.
