37
It all started when I was suddenly unable to receive any satoshis on my Muun wallet. I kept trying to transfer 500+ sats from sMiles, but to no avail. Hence, I got a bit paranoid because the Muun wallet isn't exactly self-custodial. I don't have a lot of satoshis, no doubt, but still, I have been working hard at accumulating these sats through varied means. What if my satoshis were stuck in my Muun wallet forever?
So, I guess now was as good a time as any to verify if Kraken could really receive sats through the Lightning Network. I quickly logged on to my Kraken account and generated the following deposit.
It was quite seamless. And as you can see, the network fee was rather cheap - only 2 sats. I could get that easily from the freebitco.in faucet
In the blink of an eye, my 22,000 satoshis appeared on my Kraken account. I would need a longer time to finish this article.
Now the litmus test. Would Kraken allow me to withdraw these 0.00022 BTC to Gemini (the crypto exchange that enables me to off-ramp Singapore dollars)? The answer is a resounding nope, as you can see from the below screenshot.
I would need at least 50,000 satoshis but the transaction fee is already 20,000 sats. Guess it would be more prudent for me to switch my BTC to LTC before attempting to transfer this LTC over to Gemini!
