Options to select when withdrawing from Kraken to Cake Wallet

M

MacGruber

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Sep 30, 2024
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1
I want to withdraw BTC from Kraken to Cake Wallet. I just started using crypto about 15 minutes ago, first time.

1. In Kraken, should I choose to use the Lightning network or the Bitcoin network for the withdrawal?

2. In cake wallet, which choice should I select for my receive address: Segwit P2WPKH, Taproot, Segwit P2WSH, Segwit-compatible, Legacy, anonPayInvoice, or anonPayDonationLink?

Thanks!
 
1. Always choose the main network. it's a lot slower than lightning but literally no vendors anywhere accept it and you'd have to pay fees for bridging back anyway.

2. just use whatever is default in cake, i.e p2wpkh. it's very rare that the average end user will need to mess with that setting in any wallet, especially if you're conducting simple p2p transactions.
 
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