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Author Topic: Kraken to and from Ledger Nano S - Basic questions  (Read 455 times)
Bitirie
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October 12, 2017, 10:09:01 PM
 #1

Hi everybody,

I recently decided to buy some bitcoins, I tried to inform and read as much as possible on the topic to get the basics, but there are a few questions I wanted to ask you.

I plan to invest a few hundred bucks to start, and here is the method I decided upon :
Buying bitcoins on Kraken (after I made a SEPA transfer from my bank), then withdraw them to store them on a Ledger nano S wallet.

My questions :
- Is it easy to transfer from Kraken to the Ledger Nano S (apparently yes), but after, can I transfer my bitcoins from the Ledger nano S to Kraken ? If yes, what way you think is the best ?
- In terms of fees, here is what I expect, do you think this is correct ?
   > EUR SEPA bank transfer Deposit to Kraken : free
   > Kraken trading fees : 0.16 to 0.26%
   > Withdrawal from Kraken to Ledger Nano S : 0.001 bitcoin
   >Transfer bitcoins from Ledger Nano S to Kraken : free (if possible ?)
- I’ve always told fees were high, this seems low to me, why is that ?

Thanks again and sorry if my questions do not make sense !
Looking forward to knowing more, it’s just so freaking interesting.
Thanks guys!
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Bitfort
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October 12, 2017, 10:27:29 PM
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Hi, you plan looks good. My bank charged me around 8 USDs for SEPA transfer (which surprised me) ... but it depends on bank, you migh have it for free.
Othewise everything you wrote is correct. 

Fees are pretty low now ( you can send tx with 60 sat/byte and it gets confirmed soon, but few months ago it used to be around 300 sat/byte or even more if you wanted to confirm it quickly).

Of course you can transfer BTCs from ledger to kraken and if you are skilled and patient you can even do it without any fee.
Such transaction is very limited (max 0.1 BTC, tx size not exceeding certain amount of bytes ...  ( check this post i've came across recently https://bitcointalk.org/index.php?topic=2253864 )

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Bitirie
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October 12, 2017, 10:35:15 PM
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Thanks so much Bitfort,
It's quite all new to me, the language and technics, but am getting used to it and enjoy it!
I am going to have a look at that link you gave me.
Thanks for the tip on the ledger to kraken transfer,I tried and find help or documentation on the net, but did not succeed yet!
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