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How to withdraw crypto from Kraken to your Ledger wallet

When you hold crypto on an exchange, it's the exchange that creates and manages accounts on your behalf and controls your private keys.

With Ledger, you create your own crypto accounts and control the private keys. 

In this article, we explain step-by-step how you can withdraw crypto from Kraken to your Ledger wallet.

Let’s get started.

Log in to your Kraken account

  1. Go to Kraken.com and log in to your account.
  2. Navigate to FundingWithdraw.
  3. Use the search bar to find the crypto asset you want to withdraw to your Ledger wallet. 

Now it’s time to generate your Ledger deposit address. But before doing so, you first need to select the correct network. 

 What is a network?

The network is another term for blockchain. Crypto assets run on networks. Some crypto assets can run on multiple networks. Before withdrawing your crypto from Kraken, you need to know which network it runs on. You should withdraw your crypto to your Ledger wallet using a supported blockchain.

Selecting the correct network

In most cases, Kraken automatically matches the address to the correct network. 

However, you should always double-check that the correct network is selected before withdrawing your crypto. The network selected on Kraken needs to match the one selected in the Ledger Live app.

A simple rule of thumb is to always select the coin's native network. For example:

  • BTC → Bitcoin network.
  • ETH → Ethereum network.
  • BNB → Binance Smart Chain network.
  • ETC → Ethereum Classic network.
  • DOT → Polkadot network.

Things, however, can get complicated. For example, with CRO—the native coin of the Crypto.org and Cronos chains—you need to be extra careful. Or USDT (Tether) that can run across a variety of blockchains.

Generate your Ledger deposit address

 Don’t have an account yet?

If you follow the steps listed above, an account will be automatically created for you. Once that’s done you’ll land on the Address page.

  1. Open the Ledger Live app.
  2. Navigate to the left sidebar menu and click Receive.
  3. Select the same crypto you selected on the exchange.
  4. Select the same network you selected on Kraken. If the network isn't listed, then Ledger Live doesn't support it yet.
  5. Connect and unlock your Ledger device. Your deposit address will be displayed.
  6. QR code will appear. Click Copy address.

Verify your deposit address

  The Ledger Live app can provide a deposit address without a Ledger device. These addresses, however, are unverified and may not be secure. If you choose to use unverified addresses, you do so at your own risk.

 Trust your device: only trust the display of your Ledger device. Now it’s time to verify that your deposit address is correct and matches the one displayed on your device.

Compare the address you copied from the Ledger Live app with the one displayed on your Ledger device. Does your Ledger device display the same deposit address as the Ledger Live app? 

Now that you've verified the address, paste it into the Kraken To field and confirm that it matches the one in Ledger Live. 

All set.

Finalize withdrawal

 Pro tip:

Send a small amount first and verify that the transaction was received before sending larger amounts. 

  1. Paste your Ledger deposit address into the withdrawal address box. Ensure that the address you pasted is the same as the one that was displayed on your Ledger device. 
  2. Enter the amount you want to withdraw. 
  3. Click Withdraw.
  4. If you have two-factor authentication enabled on your Kraken account, you will be requested to enter a code from your authentication app before the transaction can be processed.

Wait until the transaction is processed. Blockchain networks take different amounts of time to process transactions.

You’ve taken control of your private keys and your crypto. Welcome to the world of self-custody.

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