Ways to withdraw from Kraken in USA?

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Gauss44
Posts: 88
Joined: Wed Apr 24, 2013 12:53 pm

Ways to withdraw from Kraken in USA?

Post by Gauss44 » Wed Jan 03, 2018 11:10 pm

My plan is to convert my XRP (ripple) into bitcoin and send that from Kraken to GDAX and withdraw USD from GDAX. Has anyone in the USA had success with that or can you suggest a better method? I have read about trouble withdrawing USD directly from Kraken.

Edit: Or I might add an extra step and convert bitcoin to litecoin and send that to GDAX and in GDAX convert litecoin to USD and then withdraw. Litecoin seems to have smaller fees and moves faster in my experience.

Edit #2: I decided to try this out with a very small amount of litecoin. I tried transferring .01 ltc from kraken to GDAX. It is currently showing as pending in GDAX so it looks like it will work.

ValueComplex
Posts: 7
Joined: Wed Jan 03, 2018 11:07 pm

Re: Ways to withdraw from Kraken in USA?

Post by ValueComplex » Thu Jan 04, 2018 1:49 am

I am not sure,

But the general thought on crypto is that it's easier to get into then to get out of. You can just send it to coinbase if you have an account there
and sell for USD.

Good Luck

bloom2708
Posts: 4110
Joined: Wed Apr 02, 2014 2:08 pm
Location: Fargo, ND

Re: Ways to withdraw from Kraken in USA?

Post by bloom2708 » Thu Jan 04, 2018 10:26 am

I hope your transfer works.

When I read the title I thought a Norwegian sea monster had eaten your money and then swam to the US. :wink:
"We are here not to please but to provoke thoughtfulness" Unknown Boglehead

Cunobelinus
Posts: 184
Joined: Tue Dec 04, 2012 5:31 pm

Re: Ways to withdraw from Kraken in USA?

Post by Cunobelinus » Fri Jan 05, 2018 12:41 am

bloom2708 wrote:
Thu Jan 04, 2018 10:26 am
I hope your transfer works.

When I read the title I thought a Norwegian sea monster had eaten your money and then swam to the US. :wink:
I, too, feared that a great sea monster had departed it's historical hunting grounds and had reached the eastern shores of the US. Perhaps as a result of this bomb cyclone.. or perhaps the kraken is responsible for this storm..

But I'm interested in the seemingly complex process of converting your digital assets to traditional financial assets, taxes included. When you do finish up, please post about your experience.

monsterid
Posts: 122
Joined: Sat Dec 31, 2016 7:10 pm

Re: Ways to withdraw from Kraken in USA?

Post by monsterid » Fri Jan 05, 2018 1:03 am

Use LTC not BTC. You should be good.

nyclon
Posts: 237
Joined: Fri Oct 02, 2015 5:30 pm

Re: Ways to withdraw from Kraken in USA?

Post by nyclon » Sun Jan 14, 2018 12:10 am

Gauss44 wrote:
Wed Jan 03, 2018 11:10 pm
My plan is to convert my XRP (ripple) into bitcoin and send that from Kraken to GDAX and withdraw USD from GDAX. Has anyone in the USA had success with that or can you suggest a better method? I have read about trouble withdrawing USD directly from Kraken.

Edit: Or I might add an extra step and convert bitcoin to litecoin and send that to GDAX and in GDAX convert litecoin to USD and then withdraw. Litecoin seems to have smaller fees and moves faster in my experience.

Edit #2: I decided to try this out with a very small amount of litecoin. I tried transferring .01 ltc from kraken to GDAX. It is currently showing as pending in GDAX so it looks like it will work.
Did you get this to work? Kraken has been dark since Wednesday when a scheduled maintenance job expected to last 2 hours never finished.

Gauss44
Posts: 88
Joined: Wed Apr 24, 2013 12:53 pm

Re: Ways to withdraw from Kraken in USA?

Post by Gauss44 » Wed Jun 06, 2018 1:38 pm

My recollection is that I used litecoin and it worked beautifully.

CantPassAgain
Posts: 537
Joined: Fri Mar 15, 2013 8:49 pm

Re: Ways to withdraw from Kraken in USA?

Post by CantPassAgain » Wed Jun 06, 2018 1:46 pm

Cunobelinus wrote:
Fri Jan 05, 2018 12:41 am
bloom2708 wrote:
Thu Jan 04, 2018 10:26 am
I hope your transfer works.

When I read the title I thought a Norwegian sea monster had eaten your money and then swam to the US. :wink:
I, too, feared that a great sea monster had departed it's historical hunting grounds and had reached the eastern shores of the US. Perhaps as a result of this bomb cyclone.. or perhaps the kraken is responsible for this storm..

But I'm interested in the seemingly complex process of converting your digital assets to traditional financial assets, taxes included. When you do finish up, please post about your experience.
Lol, good one.

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