Coinbase and Kraken both are exchanges platforms, investors come on these platforms to sell, buy and trade crypto. You can exchange any crypto on these two platforms, both are secure exchanges but one thing you should keep in mind is never to use the exchange to store the crypto, always prefer non-custodial wallets. The reason is that exchanges are not able to secure your data fully, they give you partial ownership moreover they can sniff your data anytime.
Anyhow, let’s come back to the discussion we were talking about transferring bitcoin from Coinbase to Kraken. Most investors get confused when they transfer crypto from one DEX to another, If you are in the same trouble then this article is going to guide you step by step.
How to Transfer Bitcoin from Coinbase to Kraken
As we discussed Coinbase and Kraken, both are exchanges where you can transfer money from one exchange to another same as when you transfer your money from one bank to another. Here are a few steps to help you while sharing your bitcoin from Coinbase to Kraken.
Note: This guide is only for learning purposes, so that’s why there are not enough funds in the account.
Step 1: Log in to your Kraken account:
Step 2: Log in to your Coinbase account:
Step 3: Click the button “Send & Receive” after clicking, there will be a pop-up:
Step 4: Hit the “Bitcoin” and move ahead:
Step 5: Select “Bitcoin” and move back:
Step 6: Enter the amount you want to send:
Step 7: Convert the amount first into bitcoin so that you would be able to send the amount, to convert the amount hit the circled button:
Step 8: Here you need to add the address of your Kraken account:
Note: You just have to go to the Kraken account to get the address.
Step 9: Go to the Kraken account, and click on “Funding”:
Step 10: It will generate an address copy it and go back to Coinbase, here you just have to paste the copied address and then hit the button “Continue”:
Coinbase and Kraken are both exchanges and investors can sell, buy and trade crypto on this platform. Moreover, they can share coins from Coinbase to Kraken directly without involving a third party, similar to when they transfer cash from one bank to another.