Options to select when withdrawing from Kraken to Cake Wallet

M

MacGruber

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Sep 30, 2024
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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.
 
LittleDabbie420 said:
Kraken sucks made it impossible to move coin i ended up abandoning the account with like 20$ in it. Pos.
Click to expand...
odd to hear. i move funds in and out of kraken on a constant basis for like half a decade and never experienced delays that weren't specifically mentioned by kraken at the time due to issues with any particular chain. they always process my withdrawals in like 5 seconds even for monero.
 
xenxra said:
odd to hear. i move funds in and out of kraken on a constant basis for like half a decade and never experienced delays that weren't specifically mentioned by kraken at the time due to issues with any particular chain. they always process my withdrawals in like 5 seconds even for monero.
Click to expand...

They seem to be a lot more scrutiny from new accounts in the first cpl weeks.
 
I love kraken they are the best exchange imo for they still offer monero unlike 95% of the exchanges out there these days!
 
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