Bitcoin Forum

Hello,

I think this is a total newbie question, but I cannot find the answer.
Yesterday I have succesfully sent a bit money to Kraken, and then placed an order there to buy BTC with it.
The newly bought BTC's* show up on my balance in the overview, so I know this went well.

What I don't get: These BTC's are not assigned on a desposit address yet (you know, the "uRYB568VJKhthdT46Kjhoh" kind of address).
My questions:
1) what happens if I do nothing? Where are my BTC's now? Why should I put them on an address in the first place?
2) How do I put the BTC on an address? I have created a new address under Funding/Deposit/BTC, but don't know how to put my BTC on this address.

Of course I made a support ticket at Kraken but this takes a while and I would like to continue.

Thanks!

*Well, actually its a tiny bit of one bitcoin.

you do not have to do anything, if you trade completed , your btc in your balance , they do not have to be in a deposited address, you can continue them trade or withdraw to external address

Your bitcoins are not controlled by you in this case as you don't hold the private keys to the address they are in. Technically the btc still belongs to Kraken until you withdraw/deposit them into an address you control.

This is like this with a lot of exchanges (surely all) Your BTC address (the one you got under funding>>BTC) act like an alias of the wallets owned by kraken, if you want to make a comparison. When you buy bitcoins they credit your account, not your wallet.

As Zazarb told you, you have nothing to do, the bitcoins are truly your (theoricaly speaking)

Hi tbenschop! Your BTC are on your Kraken account. When you need to use them you can withdraw them at any time by navigating to Funding > Withdraw > Bitcoin (XBT) and inputting the address you would like to withdraw them to. If you need to deposit Bitcoin to Kraken you can navigate to Funding > Deposit > Bitcoin (XBT) and click the green button to generate a new address.

Thanks for using Kraken! Let us know if you have any more questions by opening a ticket or dropping by our Bitcointalk thread (https://bitcointalk.org/index.php?topic=290799.0).

Hi mate, I'm afraid your understanding on how bitcoin works is not enough.
So let me try to clear it up for you.

You have bought BTC which currently are on your Kraken account, that's why you see it in Overview.
At this moment you don't actually have the BTC, it's like you have some money in your bank account but what you see are numbers (digits) as you don't hold the cash/paper.
if you want to "cash out" your BTC, then you need to generate a BTC address - and make sure you hold the private key - then go to Funding > Withdraw > Bitcoin (XBT) and place there your newly generated public BTC address (you know, the "uRYB568VJKhthdT46Kjhoh" kind of address)

Caution you are making a confusion, you don't generate your own BTC address in Kraken platform under Funding/Deposit/BTC!
That one you can generate only if you want to deposit BTC to Kraken, that one is Kraken address/wallet where you send your BTC to be credited to your Kraken account

To generate your personal address(wallet) you can use plenty of services like https://www.bitaddress.org or you can use an online wallet at your will ...

Please read more about Bitcoin to avoid doing any mistakes an lose your coins.