Learn more: 
888-38-ZENGO (USA Toll free)
888-38-ZENGO (USA Toll free) 888-38-ZENGO (USA Toll free) 
So you’ve traded crypto for a while on Kraken, made some profits, or maybe did a few investments that didn’t turn out too well, and now have come to the point where you want to withdraw your money. Whether you’re a professional cryptocurrency trader or a total beginner, we got you covered.
In this how-to withdraw money from Kraken guide, we will explain all the ins and outs of withdrawing your funds to the safest and most secure non-custodial wallet currently available.
Before you can withdraw your digital assets from Kraken and secure them safely, you will need to set up your Zengo wallet, which is a next-generation non-custodial crypto wallet that revolutionizes the way crypto is stored by utilizing industry-leading MPC technology. It offers better performance than any hardware wallet and is more trustworthy than any exchange thanks to its guaranteed account recovery, no private key vulnerability, and built-in Web3 firewall.
Make sure your Zengo wallet is set up and working before you go any further.
You can double-check to see if your funds have arrived in the Zengo app within mere seconds. Simply open the app, log in with biometric facial recognition, and check the main balance page. If you want insights about specific transactions, tap the ‘History’ button for a complete financial overview, including all deposits and withdrawals.
Zengo is a must-have crypto wallet for those seeking a secure non-custodial wallet on which to store cryptocurrencies and NFTs as well as access DeFi trading and staking platforms.
Zengo is one of the safest and most secure crypto wallets available to retail users today. The wallet app utilizes state-of-the-art MPC technology, three-factor authentication with biometric login and transaction confirmation for an extra layer of security. With Zengo, you don’t need to remember any difficult seed phrases as your face is used to generate a truly unique and secure seed to access your digital assets!
With Zengo’s non-custodial wallet, you are in complete control of your own private keys without having to worry about security or losing access to your funds. Furthermore, our fiat on-ramp service allows you to easily diversify and grow your crypto portfolio by purchasing your crypto of choice with fiat currency. Aside from that, you can also take part in our savings program.
If you ever need any assistance with your Zengo wallet, you can contact our real human customer support staff at any time, even on weekends and holidays. Alternatively, you can check out our Help page to see if your question has already been answered.
With Zengo, you can easily send crypto to other wallets or ‘’cash out’’ to fiat whenever you want. To send crypto to other wallets, tap on the ‘’Actions’’ button located in the main menu followed by ‘’Send’’. Now, simply fill in the amount of crypto you want to send, paste the receiving address or scan the QR code, and verify the transaction.
Rather cash out your crypto earnings to fiat? No problem! Simply tap on the ‘’Actions’’ button, and then on the ‘’Sell’’ button. As of writing this guide, you can sell your digital assets for Euros, British Pounds, and/or United States Dollars.
Note that you have to connect your bank account to your Zengo wallet prior to requesting a fiat withdrawal and that it may take a few days for your funds to arrive.
Kraken is a centralized cryptocurrency exchange founded in 2011, owned by Payward Inc., and led by CEO and co-founder Jesse Powell. The exchange is based in London, and it offers a wide range of cryptocurrencies and trading pairs. Apart from offering a cryptocurrency trading platform, Kraken also features a built-in NFT marketplace and offers OTC institutional crypto trading services.
The main difference between Kraken and Zengo is that Zengo is a Web3-ready non-custodial wallet that allows users to control their own private keys. Kraken, on the other hand, is a centralized cryptocurrency exchange that also provides custodial wallet services, meaning that they are in charge of your private keys. If Kraken ever goes bankrupt, you won’t be likely to be able to withdraw your funds.
Another key difference is that Zengo is a stand-alone app that can be connected with third-party exchanges, NFT marketplaces, and Metaverse games, whilst Kraken is just a cryptocurrency exchange and nothing more.
Kraken charges between $0,10 and $35 withdrawal fees on fiat withdrawals, depending on the payment method chosen. The exchange’s cryptocurrency withdrawals vary widely and range from around $0,05 to about $5 when converted to USD.
Kraken has four different account levels, each with its own crypto and fiat withdrawal limits. For crypto, starter-level and expert-level account holders can withdraw up to $5,000 per day, whilst intermediate-level account holders can withdraw $500,000 a day, followed by Pro-level account holders, who can withdraw up to $1m per day.
Start-level account holders cannot withdraw fiat. Express-level account holders can withdraw up to $9,000 fiat per month, whilst intermediate-level account holders can withdraw up to $100,000 per day and $500,000 per month. Pro-level account holders can withdraw up to $10m daily and $100m monthly.
You increase your Kraken account level status by depositing and trading more crypto and going through the KYC procedure.
Kraken has four different account levels, each with its own crypto and fiat withdrawal limits. For crypto, starter-level and expert-level account holders can withdraw up to $5,000 per day, whilst intermediate-level account holders can withdraw $500,000 a day, followed by Pro-level account holders, who can withdraw up to $1m per day.
Start-level account holders cannot withdraw fiat. Express-level account holders can withdraw up to $9,000 fiat per month, whilst intermediate-level account holders can withdraw up to $100,000 per day and $500,000 per month. Pro-level account holders can withdraw up to $10m daily and $100m monthly.
You increase your Kraken account level status by depositing and trading more crypto and going through the KYC procedure.
On average, bank transfers and ACH withdrawals take about 2 business days to process, but they can take up to 5 business days, according to Kraken. The cutoff time for each processing day is 6 PM EST. Cryptocurrency withdrawals are usually processed within 2 hours, depending on the withdrawn cryptocurrency.
There are some problems that can occur when withdrawing both fiat and cryptocurrencies from Kraken. In the case of cryptocurrencies, you might enter the wrong receiving address. With fiat withdrawals, it can be the case that your bank automatically blocks withdrawals from unregulated or unsupervised financial institutions like Kraken.
© 2024 Zengo Ltd. All rights reserved.
Enter your phone number to receive a download link.
