BTCC is a cryptocurrency exchange that offers futures trading with up to 150x leverage. BTCC's selection of futures contracts includes daily, weekly, quarterly and perpetual contracts. Users that want to start trading crypto futures on BTCC can get started quickly after creating their accounts.
Of course, you need to add some funds to your BTCC account before you can start trading. In this guide, we'll be giving you a step-by-step guide showing you how to transfer cryptocurrency from the Kraken exchange over to BTCC.
Why transfer crypto from Kraken to BTCC?
There are many reasons you may want to transfer your digital assets from another exchange to BTCC. For example, you might want to take advantage of the futures contracts and leverage offered by BTCC, which you may not have access to on your current exchange of choice.
You may also want to transfer crypto from Kraken or another exchange to BTCC for other reasons. As one of the longest running cryptocurrency exchanges in the world, BTCC offers several benefits to users. Here are a few of its major perks:
- BTCC has a record of offering quality service for more than 11 years in the crypto world
- BTCC is a user-friendly platform built for everyone
- BTCC offers a low investment threshold but also accommodate big investors
Registration takes less than a minute
If you don’t have an account with BTCC at the moment, there is no need to worry. Registration is absolutely free and the entire process takes less than a minute.
If you are unsure of the entire signup process and want to know more how to proceed, then BTCC's ultimate guide will be very helpful. It will even teach you how to trade futures on the platform.
Transfer your crypto from Kraken to BTCC
It is important to start this section by stating that the steps to follow when using the BTCC app are practically the same steps to follow when using the web platform. For the sake of convenience, we will focus on how to complete the transfer from the app.
Are you now ready to transfer your crypto from Kraken to BTCC? Here are the exact steps you need to follow:
Step 1 – Log in to your BTCC account and select "Deposit" under the assets menu.
Step 2 – Select the cryptocurrency you want to transfer. Here, we will demonstrate how to transfer USDT, so select USDT. Make sure to choose the correct blockchain network on which you will be sending the USDT tokens. In our example, we are selecting the ERC20 chain, which corresponds to Ethereum. It is important to reiterate that you must choose the correct blockchain network on BTCC and choose the same network on the withdrawal platform (in this case Kraken). If you don’t choose correctly, your assets will not arrive to their intended destination and may never be recovered.
Step 3 – Copy the Wallet Address by tapping the Copy Address button or copy icons on the screen.
At this point, it is important to note that some cryptocurrencies like XRP use a destination tag. It is crucial to copy both the wallet address and destination tag and input them correctly on the withdrawal platform. Failure to do so could result in the loss of assets.
Step 4 – Proceed to your Kraken account. It is important to state that what you are going to do on Kraken is to withdraw the asset you intend to transfer to your BTCC account. Select the "Balances" section and then click on "Withdraw".
Step 5 – Select Tether (USDT) as the currency that you want to withdraw.
Step 6 – Choose the withdrawal method. In our example, we will be transacting over the Ethereum network, so we will be choosing the ERC20 option.
Step 7 – Now, paste in the Ethereum address that you copied from the BTCC app. We recommend you to double-check and ensure that the address is correct. After clicking "Next", Kraken will ask you to confirm the address via email.
Step 8 – After confirming the withdrawal address, you will be able to withdraw USDT from Kraken. Enter the amount you wish to withdraw.
Tip: If you plan to transfer an amount that is significant to you, consider making a smaller test transaction first to ensure that everything is working correctly. If the test transaction is successful, you can then proceed with transferring the full amount.
Step 9 – Review the withdrawal, method, amount and fee. If everything checks out, you can confirm the withdrawal by swiping the button at the bottom of the interface.
Most withdrawals are completed instantly. If you don’t see your transferred assets in your account after a while, you can contact the BTCC customer service team for assistance.
Step 10 – Go back to your BTCC app to check if the deposit has arrived. The deposit should be credited to your account fairly quickly, although this could depend on network conditions—sometimes, Ethereum transactions can be slowed down by network congestion. Transacting on the TRON network (TRC20) is usually faster than using the Ethereum network (ERC20).
Wrapping up
Obviously, transferring crypto from Kraken to BTCC is simple and straightforward. However, you need to follow the steps above carefully. You also need to ensure that you copy and paste the right destination address. Once your transfer is successful, you can proceed to trade futures on BTCC immediately or do anything else and enjoy all the accompanying benefits.
