Coin Transfers

Clients can enable crypto coin transfers for investors by implementing two use cases using the Bakkt Transfers API endpoints.

1. Clients can allow investors to deposit crypto coin into their Bakkt accounts and send crypto coin from external, third-party wallets using the process described in the Deposit Workflow.

2. Clients can allow investors to withdraw crypto coin from their accounts and send crypto coin to external, third-party wallets following the process described in the Withdrawal Workflow.

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Cryptocurrency Risk

Sending and receiving crypto coin occurs completely outside of Bakkt's control; therefore, cryptocurrency transfers come with risks to clients and their investors. For this reason, clients must make important disclosures to their investors to ensure they are aware of, and accept, the risks.

Cryptocurrency Transfer Requests and Sell Orders

Estimates do not initiate nor reserve cryptocurrency (coin) for transferring to another digital wallet. If an investor initiates a sell order and then tries to initiate a coin transfer, the transfer process reduces the investor's current position by any outstanding sell orders and pending transfers prior to determining the amount of coin the investor can transfer. If an investor initiates a transfer, the investor's position decreases immediately. Bakkt initiates the request and considers the coin sent the moment the investor places the initial transfer request.