How do I create an account on Kraken?

Have a cryptocurrency wallet it's good. But having an account on Kraken is even better. In fact, cryptocurrencies are and will be increasingly used as an alternative to traditional currencies for everyday purchases. But without being too shocked, it is also the possibility of earning money with the fluctuations to which virtual currencies are subject that has fueled the growth of interest in this world.

This is the phenomenon of cryptocurrency trading, which is of interest to a growing number of people, many of whom are unaware of the origins of the cryptocurrency phenomenon.

To exploit these opportunities offered by cryptocurrencies, you must first create a wallet on an exchange. So you can create an account on Kraken. As we did for the creation of CoinEx account, we will see how to create a Kraken account.

🥀 What is the Kraken?

Creak is a world-renowned cryptocurrency exchanger. It was founded in 2011 by Jesse Powell, who early on understood the importance of Bitcoin and the implications that Blockchain technology would have on the digital ecosystem and international transfers.

Powell considered that the most critical part for the Bitcoin ecosystem was precisely the exchange, because in its origins it was really difficult to be able to mine, buy and sell BTC. It was not something intuitive or simple, accessible to everyone, but it was often perceived as something far away.

Since its inception, Kraken has grown exponentially, with hundreds of employees in many countries. Kraken's mission is to accelerate and encourage the mass adoption of cryptocurrencies.

The main goal is to enable a decentralized model of financial freedom and inclusion. Furthermore, Kraken offers buying and/or selling cryptocurrencies via fiat and cryptocurrency to cryptocurrency exchange.

🥀 Why did Kraken become popular?

The reasons why Kraken has become such an important exchanger are multiple. One of the main reasons is that in 2014 he was chosen, with Coinbase, to offer Bitcoin trading data within the Bloomberg panel.

This partnership with the leading market data provider has allowed Kraken to gain traction. Thus, Bloomberg customers could access Bitcoin prices, charts, news and other information through the services of this platform.

Shortly after, Kraken partnered with the world's leading mapping service TradingView. Later it adds new cryptocurrencies to the trading platform and also buying and trading with fiat currencies like USC, GBP and JPY.

Previously, in 2015, the exchange gained popularity by implementing new features for cryptocurrency trading. This has not only allowed it to gain popularity among general users, but also among professional traders.

Features such as the " margin trading "or service" dark pools » were included. A " darkpool which allows customers to be eligible for potentially better prices. They are allowed to discreetly place large orders which are filled over others of similar size but with a price advantage.

🥀 Types of Kraken Account Levels

Exchanges usually have different levels of users which depend on the level of personal information they provide and the volume of trading. Kraken in this sense is no exception, these levels being the following:

Basic Level Accounts

Basic registration system where all you need to do is provide an email address. In this level, the user can only browse the exchange, explore the interface and how it works. The user at this level is not authorized to perform operations within the platform.

Basic Level Accounts

For this level, the user must provide personal information such as full name, date of birth, etc. Users at this level can only make cryptocurrency deposits and withdrawals.

They are allowed to trade with cryptocurrencies and fiat money. Cryptocurrency withdrawals are limited to $2 per day or $500 per month.

The mid-level account

This level requires verification of identity through a type of legal document such as a passport. Deposits and withdrawals in Fiat currency are enabled here, but it depends on the country of residence. We may make fiat currency deposits of $100 per day or $500 per month.

Regarding cryptocurrency withdrawals, a limit of $500 per day is established, with no monthly limit. In this level we can also trade futures contracts.

The Pro Level Account

To access this level, a government ID (DNI, passport or similar) and recent proof of residence (electricity bill, telephone bill or similar) are required. Deposits and withdrawals with fiat currency, as well as cryptocurrencies are unlimited.

To deposit and withdraw fiat currency in the United States, Canada, Japan and Germany, the “ Pro level is required to be able to deposit and withdraw fiat currency. In addition to being able to trade futures, as in the previous level, we can also trade over-the-counter.

🥀 How to create a Kraken account?

The process of creating an account on the Kraken trading platform is quite simple. To create a Kraken account we only need an email address, enter your username and a password. Your password must be 12 characters long, consisting of an uppercase letter, a number and a symbol.

Step 1 : access the Kraken platform

The first thing you need to do is open your favorite browser and go to Kraken's main page.

Once you are there, you must click on the top left of the page. However, you can fill out the form located in the central part of the home page.

Step 2: fill in your information

If you clicked at the top left, you must complete the form below. In the form, you must fill in the fields: email, username and password. Make sure it is a strong password. Read the terms of use and privacy policy.

Now you just have to check the box where you accept the terms and conditions. In the same way, you must click on the button " Register ". You should receive an activation email containing an activation key.

Step 3: activate your account from email received

From now on, when you are in the window of activation of your account, you must go on your mail and click on the link which is sent to you.

Then you need to copy the " Master Key » which is also requested in your account activation window. Enter your activation key on the account activation form or complete the activation by clicking the link in the email.

Step 4: Confirm your password

Confirm your password, complete the captcha if requested and click on the Activate account button. Congratulations ! You have successfully created your Kraken account and are ready to begin.

🥀 In conclusion

Kraken is a secure platform with no history of fraud of any kind, however, no exchange or broker is free from human error. In other words, you must pay close attention each time you make a transaction to buy or sell cryptocurrency.

Well, in most cases, once you finish confirming the operation, it is irrevocable. You already know how to create a Kraken account, Go for it. But if you already have an account, here's how to make deposits and withdrawals to your Kraken account.