How to Transfer Crypto from Kraken to a Cold Wallet

At Material Bitcoin, we believe that securing your crypto is the only way to have true financial freedom.

As leaders in cold storage security, our cold wallets provide 100% offline, tamper-proof protection.

If you’re holding crypto on an exchange or an exchange’s wallet like Kraken, it is vital to move your Bitcoin to a secure cold card wallet to maintain full control over your private keys.

In this guide, we’ll walk you through every step of how to transfer crypto from Kraken to a cold wallet.

What is Kraken?

Kraken is an American-based and owned crypto exchange from San Fransisco, California.

It was founded in 2011 by Jesse Powell and is one of the oldest and most reliable crypto exchanges.

Kraken is well-known for its high liquidity order book.

This makes it a great choice for professional traders.

It supports advanced trading features such as futures, margin trading, and staking.

Kraken Security Features

Kraken has good security measures in place to protect its online exchange.

It requires two-factor authentication (2FA) for all accounts and follows strong compliance with global financial regulations across the U.S., Europe, and other regions to prevent unauthorized access.

Kraken habitually does Proof of Reserves audits, where you can review and verify that your funds are always fully backed.

Kraken’s security practices make it a trusted platform for buying and trading crypto. However, for long-term storage, keeping your funds in a crypto exchange comes with risks.

This is why moving your crypto to a cold wallet will always be the safest option.

Kraken’s own wallet uses cold storage and hot wallet solutions to protect your funds.

Unfortunately, this means that your crypto’s security is in the hands of their team, not yours!

The Kraken infrastructure is held in cages, monitored 24/7 by armed guards, alarm systems, and video surveillance.

While this might sound reassuring, we know that no exchange is immune to breaches.

The safest way to protect your crypto is to have self-custody of your crypto wallet.

Your Step-by-Step Guide: How to Transfer Crypto from Kraken to a Cold Wallet

Knowing how to transfer crypto from Kraken to a cold wallet is the only way to maintain full control of your private keys and keep your Bitcoin safe from exchange failures or hacks.

❗Important: This is how to transfer crypto from Kraken.com, If you are using Kraken Pro, please follow these steps.

Step 1️⃣ – Set Up Your Cold Wallet

Before initiating a transfer, you need to prepare and set up your cold wallet.

1. Unbox and initialize your wallet.
2. Generate and store your seed phrase. Write down your 24-word recovery phrase on a physical backup (never store it digitally).

Step 2️⃣ – Get Your Wallet Address

Now that your cold wallet is set up, you need to find your receiving address.

1. Open your cold wallet’s software (or connect your hardware wallet to your computer).

With Material Bitcoin wallets, there is no third-party reliance. Your public address is engraved right on the metal plate. Enter it manually or simply scan the QR Code on the wallet.

Step 3️⃣ – Withdraw Crypto from Kraken

Now, you can begin to transfer your crypto from Kraken to your cold wallet.

1. Click on the Withdraw button from the Home Page.

2. Make sure you are on the Withdraw tab.

3. Select the crypto asset you want to transfer to a cold wallet.

4. Now, select the address you want to transfer to.

If you haven’t previously transferred to this address, you must add it to the new withdrawal list.

Enter the amount you want to withdraw.

5. Confirm all the information is correct and click on Withdraw.

6. You might be asked for further security checks.

🎉Congratulations! Your crypto is now safely stored in your cold wallet!

For further instructions on how to use a cold wallet. Check out our in-depth guide.

How to Verify The Transfer and Store Your Crypto Securely

After transferring your crypto to a cold wallet, you should verify its success and store the cold wallet safely.

Check your balance using a blockchain explorer by entering your wallet address to confirm the transaction.

Store your hardware device and backup seed phrase wallet in a private location.

❌Never store it digitally!

Be cautious of phishing scams and fake wallet software by only downloading official apps and avoiding suspicious links.

Protect Your Crypto

Transferring crypto from Kraken to a cold wallet is simple.

Therefore, there are no excuses ever to not move your Bitcoin or other crypto from the exchange to a secure cold wallet, like Material Bitcoin.

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FAQs

How long does it take to transfer crypto from Kraken to a cold wallet?

• Most transfers from Kraken are processed within a few minutes, but the time it takes to get to your cold wallet depends on the network congestion and the type of crypto you’re transferring. Bitcoin transfers usually take about 30 minutes, but Ethereum can be faster.

What should I do if my withdrawal from Kraken is delayed?

• Check the Transactions tab in your Kraken account to see the status. If it’s pending for an unusually long time, verify that your withdrawal address is correct and check a blockchain explorer. When in doubt, contact the Kraken support team.

Can I cancel a withdrawal from Kraken?

• No, once a withdrawal is processed and broadcast to the blockchain, it cannot be reversed.

Is there a withdrawal fee when transferring from Kraken?

• Yes, Kraken charges a network fee for withdrawals, which varies depending on the cryptocurrency.

How do I make sure my cold wallet is secure after the transfer?

• Verify your balance, store physical devices in a protected spot, and beware of phishing scams. Never share your private keys with anyone or enter them on unknown websites.