leaving coinbase

so I'm based in the UK and have some BTC sitting on coinbase. I'm looking to switch to a different platform, possibly Kraken UK, since the trading fees on coinbase are pretty high. I want to hang on to my BTC though. What's the best way to handle this so that I can keep transaction costs as low as possible?

If I understand you very well, you want to move your btc from Coinbase to another exchange maybe kraken? And you want to avoid paying high transaction fee in btc.... So the solution is to convert your btc to other cryptocurrency that has lower fees like BNB, doge, litecoin. If you convert it to maybe bnb then transfer to bnb wallet on kraken and if you receive there, you can reconvert it back to btc. You can also use usdt, convert your btc to Usdt and send to Usdt account on kraken and reconvert back to btc. Good luck.

I don't think he needs to convert it to any crypto just to avoid such big fees. Since most of the exchanges right now, including Coinbase, support multiple networks. So transferring it with other networks can reduce transaction fees. @OP It seems OKX supports the UK. Check Coinbase for what available network support there, to withdraw BTC from Coinbase. The OKX exchange supports the Solana and Aptos networks, which are way cheaper to withdraw from. If Coinbase had these two networks, you could try withdrawing using that network from Coinbase to the OKX exchange. Or if you decided to use Kraken, then check Kraken for any supported network and use that to get much cheaper transaction fees. Or else do what was suggested above, but you will end up exchanging your BTC for a stablecoin.

If the BTC is huge converting it could lead to more reduction of the value hence I support what bitmaxz said that you can withdraw it through other network, Although if you aren't comfortable with that you can buy TRX and move it to that exchange you prefer then when it delivered you can buy back the BTC, but know that you may not likely have the same value as before.

You are trying to solve a problem that might not be a problem at all.  Have you actually checked what the transaction costs are if you transfer BTC directly? Another option you can explore is the Lightning network.  As far as I know, both platforms, Kraken and Coinbase, support LN withdrawals and deposits.

You have got a point there and I wish the op will heed to it and not make a big deal from what is not. Taking the risk of going through a process you have not done before is not far off from how some persons lost their BTC while avoiding a cost that does not cost an arm and a leg. Op should you insist on using an alternative that is cheap, my tip off is that you first test it with a little as 0.00027 BTC to confirm you doing it right depending on how much BTC you have.

Just to be sure, which coinbase are you using? The basic coinbase (https://www.coinbase.com) or the advance trading coinbase (https://www.coinbase.com/en-gb/advanced-trade/spot/BTC-USD)? The basic coinbase has some ridiculous trading fees while those at coinbase advanced are lowered Please consider comparing the trading fees before moving onto Kraken

If you don't want to be on Coinbase exchange, you will buy your btc from Coinbase exchange with tokens like TRX, XRP, BNP, LTC etc. Send all these tokens to kraken exchange with btc, you will see that the fees are much lower and later you will convert it to bitcoin, no matter which token is TRX XRP BNB or LTC, you will see that the fees are much lower, this way you can convert btc from your coinbase exchange to kraken exchange. Thank you, hope you understand and everyone gave you the same decision.

So much depends on how much he has and what the BTC tranfer cost to kraken costs. If if is around 0.1 BTC and the fee is 0.0001 it is only 1% cost about 11.40 usd It certainly would be safest to just go BTC to BTC. Why risk fucking up the 0.1 btc Trying to save on 0.0001

Find a friend in your area who's willing to do the opposite (Kraken to Coinbase), and you'll incur virtually no fees for internal transfers. However, this isn't a priority recommendation. If you're trying to transfer a large amount, say over $1,000, the $5 fee via the native network is nothing compared to your security.

thanks all good suggestions

Your better option is stop using Coinbase and use open-source non-custodial wallets for storing your bitcoins and self-broadcasting your Bitcoin transactions with control on both UTXOs, change address and fee rate. When you use non custodial wallets with full controls, you can avoid very expensive withdrawal fees charged by custodial wallets and centralized exchanges like Coinbase. Problems with Coinbase withdrawal fees. Alternatively, use Electrum wallet. [GUIDE] How to Safely Download and Verify Electrum. The paranoid user's security guide for using Electrum safely. If it is feasible, buy a hardware wallet and have your cold wallet for bitcoin storage. [LIST] Open Source Hardware Wallets [GUIDE] How to buy a Hardware Wallet the right way.

Well I do not think you will pay alot of fees only to move your coins to an other exchange. You will only pay the high fees if you are doing a trade. But I do think Coinabse is a cheap way to do trades. Just make sure you do check the other exchanges before you move all your Bitcoin somewhere else and it is more expensive then Coinbase.

When you transfer cryptocurrency off Coinbase, the platform charges you a fee based on estimated network costs (like miner fees). The actual fee Coinbase pays may vary due to factors like batching or network congestion, but the fee you’ll be charged is always shown upfront at the time of the transaction. Take into consideration that the moment I am writing this you can check on mempool that transactions are being processed at 0 sat/vB. If using the Lightning Network is an option for you , you could send bitcoin with lower costs than regular blockchain transactions as Coinbase charges a 0.2% processing fee on the amount transferred.

Op should at least check how many dollars they are charging for the fees in Coinbase to no because is not all the exchanges that could have the same charges in Bitcoin and perhaps it might not be too much for Bitcoin withdrawal. If possible he should run a little calculation about it to no the cost of sending directly to the destination exchange with Bitcoin and the cost of exchanging to another coin and still convert back to Bitcoin after it has gotten the other side to no which one will be better because sometimes after calculating the cost you will be surprised that is just almost the same thing but just a dollar difference but when you think about the stress of the converting you might take the direct option of Bitcoin.

I don't know what the Coinbase UK withdrawal fee is, but in my opinion, it would be more advantageous if you converted your Bitcoin to Litecoin and then withdrew it to a wallet. After creating an account with Kraken UK and passing KYC, you can send a small amount, something like $10, to Kraken UK. Make some trades, and then try withdrawing. Only when you see that your withdrawal has arrived in your wallet can you send all your Litecoin. When it arrives at Kraken UK, you can convert it to Bitcoin. I'm giving you this advice so you don't make the big mistake of transferring your coins directly from Coinbase to Kraken UK. I don't do that. First, focus on exchanging your coins for Litecoin, which has very low fees on all exchanges—at least that's what I've noticed. Then focus on creating an account with Kraken UK and passing their KYC. Once this is done, test Kraken UK, send just $10 in Litecoin from your wallet to Kraken UK, make a trade and then make a withdrawal to prove if they will actually allow the withdrawal and if you will receive it in your wallet.

I really don't know why I'm being skeptical that Op is so confused on how to clearly explain himself. Considering his forum rank with the digressions in the thread as he tends to explain himself proves he's a beginner in the system because talking about transaction fees of the Coinbase and how he do still want to "keep his bitcoin" same time is likely that he's holding and still want to keep hodling the bitcoin even while migrating to other exchange. If I'm on the right right, I think he needs to be let known about the risk of holding in the exchange so that, he doesn't make mistakes like some others who had lost or risked their funds therein considering the vulnerability that users doesn't hold their private keys rather, the exchange does which minimizes the security peripherals of users and their wallets. I barely believe he's a trader to begin with before recommending him to other centralized platforms. I think he needs to be guided if I'm right. Or maybe I'm unnecessarily overthinking over his funds safety.

If you currently holding BTC and want to keep holding it without converting and get charged for fee, just do bitcoin on-chain transfer to other exchange? Apparently coinbase doesn't seem to support WBTC in cheaper network but BTC network is already cheap nowadays. Or maybe just convert it to USDT or USDC temporarily and send it to another exchange. No need to overcomplicate.

I am curious, are you actively trading with this funds you have in Coinbase, or are you basically using exchange wallets to store your coins. If it is the latter, then the advise you need is a reminder that "not your keys, not your coins". So you should move your bitcoin to Electrum or any other open source non custodial wallet. And if the assets in question is of a large amount, then you should consider purchasing an open source hardware wallet.

I understand your point because you probably want to move from Coinbase exchange to another exchange like Kraken exchange, in that case you will have to trade your Bitcoin with another token, but in that trading you can set BNB or TRX and withdraw TRX or BNB directly to Kraken exchange, in this case your fees will be reduced a lot and later you can solve your problem by buying Bitcoin with the TRX or BNB you brought from Coinbase exchange.