Last updated on January 20th, 2022
Here’s a guide on how you can do so:
How to transfer ADA from Kraken to Yoroi
Here are 6 steps to transfer ADA from Kraken to your Yoroi wallet:
- Obtain the ADA deposit address from your Yoroi wallet
- Go to ‘Funding’ on Kraken
- Select ADA as the cryptocurrency that you want to withdraw
- Add a withdrawal address on Kraken
- Enter the transaction details and confirm the withdrawal
- Receive ADA in your Yoroi Wallet
And here is each step explained further:
Obtain the ADA deposit address from your Yoroi wallet
The first thing you’ll need to do is to create a Yoroi Wallet.
Don’t forget to keep your seed phrase secure, as this can be used by anyone to access your wallet!
Once you have created your wallet, you will need to go to the dashboard and select ‘Receive‘,
and this will show you the ADA deposit address that you’ll need to copy to Kraken.
Your address should start with ‘ada‘, which is a Cardano network address. This is different from ‘0x‘ addresses which are for the ERC20 and BEP20 networks.
If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.
This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!
Go to ‘Funding’ on Kraken
On Kraken’s platform, you will need to select the ‘Funding‘ tab.
Select ADA as the cryptocurrency that you want to withdraw
Once you’re there, you can select ADA as the cryptocurrency that you intend to withdraw.
Add a withdrawal address on Kraken
The next step will be to add your Yoroi deposit address on Kraken.
You will need to paste the deposit address that you’ve copied from Yoroi.
Do try to be careful when you are copying your deposit address. If you miss out on a letter or a number, your crypto may be lost forever!
Enter the transaction details and confirm the withdrawal
The last part will be to enter the amount of ADA that you wish to withdraw.
You will be able to view the withdrawal fee that you incur when sending your funds to Yoroi as well.
Receive ADA in your Yoroi Wallet
After the transfer has been initiated, you will receive ADA in your Yoroi Wallet. Transactions on the Cardano network are really fast, and you should be able to receive the funds within a few minutes!
What are the fees for transferring ADA from Kraken to Yoroi Wallet?
Kraken charges 1 ADA for withdrawals via the ADA network. This fee is similar to withdrawing ADA on other platforms.
You are also able to use the Exodus wallet to stake ADA too.
Alternatively, you can send your ADA to Crypto.com, and lend it out to earn interest.
Are you passionate about personal finance and want to earn some flexible income?