Kraken Exchange | Kraken Digital Asset Exchange

What to Kraken exchange means and how to use it?

We all cannot deny that the crypto market has boomed in recent times and there are crypto exchange platforms coming up very frequently. Those who are investing or wish to invest in look for a medium that is trusted or reliable enough so that their funds and money are secured. The Kraken exchange is one of the most popular crypto exchanges that makes it easier for crypto beginners to invest and trade via this smooth user interface. If you are new to Kraken and wish to know more about this then this write-up will help you. Here you will find the detailed guide to use Kraken exchange and invest in it. So let us understand the topic for using Kraken in detail. Learn the quick and easy steps to deposit and fund your Kraken exchange account. Follow the easy-to-follow steps in order to avoid interruptions.

How to create the Kraken exchange account?

Here are the steps to create the Kraken exchange account and it is indeed a hassle-free task:

  1. To begin with, it is important to confirm that you are visiting the official website for the Kraken exchange.

  2. In the next step, you have to tap on the “Create account” button and enter the email and username.

  3. Followed by this, you have to select the password.

  4. Once you agree to the Terms and conditions of the Kraken exchange services, click on the “Sign up” button.

  5. Now, check the email inbox for the activation key.

  6. Complete the account activation process.

  7. Just confirm the password to start using the new Kraken exchange account.

What cryptocurrencies are supported by the Kraken exchange app?

The Kraken exchange supports over 60 cryptocurrencies that include:

  • USD Coin

  • Bitcoin Cash

  • Chainlink

  • Ripple

  • Polkadot

  • Bitcoin

  • Ethereum

  • Litecoin

  • Cardano

What is the process to fund the Kraken exchange account?

As a Kraken exchange user for cryptocurrencies, you can either fund your account using a debit card, credit card, or a cash payment using wire transfer services or crypto deposits.

Paying with debit or credit card

  1. If you have thought to make a payment via debit or credit card, then click on the option that says “Buy Crypto” visible on the page.

  2. After this, select the “Add debit and credit” card option in the drop-down list of options.

  3. By doing this the amount field will get automatically updated to your local fiat currency payment method.

  4. Enter the details of the card that you wish to use and tap on the “Add a new card” option.

  5. Remember the card will be approved once the billing address is confirmed.

  6. With the linked card you can go back to the “Buy” option and select the crypto asset that you wish to buy.

  7. Once the purchase order is confirmed, you will see a pop-up screen with the amount, fees, and crypto-assets.

  8. After this, you have to click on the “Buy Now” button in order to complete the purchase.

Pay via cash

There is no doubt that the Kraken exchange allows the users to fund their respective accounts via cash deposits that are made using wire transfers from the bank account to Kraken. In order to make the cash deposit on Kraken, here are the steps to be followed:

  1. To begin with, you have to check that the bank account matches the requirements with the Kraken exchange account.

  2. Click on the “Funding” tab at the top of the dashboard and select the preferred currency showing in the “Account balances”.

  3. Now, you have to enter the amount you want to deposit and select the funding methods that are available on the screen.

  4. If there is only one option then you can move to the next step.

  5. Now, review all the instructions and copy the bank account information on the Kraken account.

  6. Now, paste it in the recipient section of the account from where you wanted to transfer the funds.

  7. After this, you need to complete the bank requirements and click on the “Send” button.

How to Deposit the cryptocurrency in Kraken?

  1. First of all, you need to verify the account before you make any crypto deposits.

  2. Once you are verified, you will be then able to deposit any of the digital assets on Kraken from other exchanges.

  3. The process to deposit crypto is very easily processed.

  4. You need to loop up the currency that you wish to deposit and then generate the new deposit address on the cryptocurrency.

  5. Now, confirm the deposit requirements and then copy the deposit address.

  6. Remember, do not type the address manually.

  7. You must use the copied address on the other exchange from which you are making the crypto deposit.

Final thoughts:

Throughout this article, we have tried to elaborate on the necessary steps to be taken for depositing and funding the Kraken exchange account. However, if you are unable to process the steps then you are suggested to visit the official website and get assistance from the Customer support page.