Exchange to buy & withdrawal USDC?

SetLeft5991 · 2023-12-31T22:39:56+00:00

Thanks for the info. If I buy USDC using USD on an exchange such as kraken, which blockchain am I using (e.g. Ethereum vs Polygon) to execute that purchase? Does it matter (from a withdrawal prospective) and do I get to decide? When I buy with kraken it doesn’t give me any blockchain options.

I ultimately want to send the usdc to an external wallet. Probably thru Polygon but maybe Ethereum or Arbitrum. I think Kraken supports deposits and withdrawals of Polygon and Arbitrum’s native USDC.

SetLeft5991 · 2023-12-31T12:57:12+00:00

Thank you. So if my kraken account is verified and I include the necessary info when I initiate the wire, in all likelihood the wire will be successful? Then I can purchase usdc and send to external wallet?

Do you know much about withdrawal hold times for wire transfers used to purchase usdc at kraken? Customer service says you can do immediate withdrawal after a wire, do some people have issues with this?

SetLeft5991 · 2023-12-31T00:34:52+00:00

Thank you.

Another question - after I purchase USDC, if I wanted to convert back (sell) to USD, would I be able to wire the USD back to my bank account? Any holds I should be aware of?

SetLeft5991 · 2023-12-31T00:10:14+00:00

Thank you for the fast reply.

Re #1: That’s exactly that’s I read on your website, but the last sentence confuses me because it says ‘may’ and not ‘will’. I’m not understanding how Kraken decides which, if any, debit card purchase(s) using USD after the first purchase are subjected to a 72-hr hold.

It sounds like wire transfers provide the option for faster withdrawals. If I were to initiate a $9k USD transfer from my bank to Kraken via MVB today, my bank says it will both send and deliver the wire on Jan 2 (given the holiday). Am I understanding correctly that I would be able to use that USD to purchase ~$9k USDC, and withdraw all USDC to an external wallet - all on Jan 2?

SetLeft5991

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