Welcome to this post, where we are going to see how to withdraw your cryptocurrencies to your bank account using Kraken, in a simple and easy way.
In order to withdraw your cryptocurrencies to your bank account, you must first sell your cryptocurrencies, as we saw in the guide on how to buy and sell in Kraken. In case you don’t know how to do this, you can see this guide on our website.
Once you have your currency in your kraken account, we will go to the bottom right and click withdraw or withdraw. Here we will select our currency, in my case euros. When you click, you must indicate the amount of your currency, in my case Euros that I want to withdraw. You can indicate different % of the total, or just click on max to withdraw it all.
You will have to enter your bank account information, as the withdrawals are by wire transfer. If you click on withdraw to, you will see the different options offered by Kraken to withdraw the money to your bank account. You will see that each bank has a commission and a minimum withdrawal amount.
Select the option that suits you best. Now, you must provide all the information required by Kraken to make the withdrawal. Aspects such as your account number, the name of the bank, IBAN, BIC and the name of the account.
Once you have entered all the information, you can click on review. Confirm that all the information is correct and click to make the withdrawal. Please note that, as it is by bank transfer, it may take a few business days for the deposit to appear in your bank account.
In this simple way, you will be able to withdraw your money to your bank account whenever you want. If you want to withdraw it immediately, by credit or debit card, you can use other platforms such as Binance. You can send your euros or cryptocurrency on Binance, sell it for your currency, and from that platform withdraw it to your bank account by card, in case you need the cash the same day. You can find a more detailed guide to withdrawing money from Binance on our website.
You may want to withdraw your cryptocurrencies to your wallet or another Exchange, either to use them on DEFI platforms, to keep them more secure with your control of the cryptocurrencies in your wallet or other reasons. Let’s see how you can do it.
It is as simple as going to the bottom, click on withdraw or withdraw and select the cryptocurrency you want to withdraw from Kraken. We indicate the amount to withdraw and click on review, click on get started. Here, you must indicate a name that will be linked to the address where you are going to withdraw, you can put any name, or if you are going to use more that address, a name to identify it. Enter the name and click next.
Enter the wallet address where you want to send it. Remember to always indicate the same network, you will see the name of the network followed by address to identify which network you are using. Click next once you have pasted the address, and you will have to confirm it through your email. With the address approved, go back to kraken, and go through the steps again. Indicate the amount, click on review, and slide to confirm the withdrawal. This way, you will have already sent your cryptocurrencies to another wallet or Exchange.
If for example you send it to another Exchange, check which network is selected when you copy the address. The same happens if you use a wallet like metamask, if your address is on the ethereum network, make sure that kraken uses the same network to send this cryptocurrency. My recommendation is to always send a small amount to see if it arrives well and there is no problem.
I hope it has helped you to know more in detail how to withdraw money from kraken to real money, and to other exchanges or wallets. Remember that if you don’t have an account with binance, you can create one just below.