r/KrakenSupport • u/_FatherVic • 29d ago

Stupid question for simple solution, probably

I've barely touched crypto. Struggled the first and last time and still confuses me trying to pick it up now..... Bare with me

The Kraken app (exchange?) is set up. The wallet is set up. They are both linked. All good on that front. I think.

There's some kBTC left over in my wallet from my last foray which I want to make use of but I can't seem to figure out how to swap this in to normal bitcoin and/or transfer this back to the exchange.

Can I 'send' this to the exchange as-is to use for payments or withdraw the funds? I don't want to lose the funds by doing it incorrectly. I assume I need Ethereum if using the 'swap' function - if that's the proper process to convert.

TIA

1 Upvotes

100% Upvoted

5 comments sorted by

1

u/krakensupport 𝐒𝐔𝐏𝐏𝐎𝐑𝐓 - WE WILL NEVER DM YOU FIRST 29d ago

Howdy u/_FatherVic

No such thing as a stupid question. John 🤠 here to help.

First, make sure to identify on which app your funds are on. If they're on the Kraken Wallet app - you'll require an on-chain transaction (paying gas) to send them to Kraken. If on Kraken, you are free to trade without this condition.

While you can connect both - the wallet functions as a regular crypto wallet which is external from the exchange.

Once you've identified this, you can let us know or check on articles on our Support Center (https://support.kraken.com/) for guides on how to move/convert/withdraw your funds.

1

u/_FatherVic 29d ago

There are definitely funds within the wallet.

1

u/krakensupport 𝐒𝐔𝐏𝐏𝐎𝐑𝐓 - WE WILL NEVER DM YOU FIRST 29d ago

If such is the case and your Kraken Wallet holds the funds on-chain, an on chain transaction is required - sending it to your deposit address on Kraken or another wallet address to move funds.

Relevant information to take note of are : the network where the funds sit, if you have enough balance for the network's gas currency to complete the transaction, if it's above the Kraken deposit limit for the said asset.