How to trade on the Kraken exchange? Graphic trading process

Kraken offers a comprehensive trading platform that enables users to buy, sell, monitor, and manage their cryptocurrency trades, including advanced trading features and multiple funding options.

Oct 03, 2024 at 10:53 am

How to Trade on the Kraken Exchange

Step 1: Create an Account

• Visit the Kraken website and click "Create Account."
• Provide your email address, username, and password.
• Verify your email address by clicking the link sent to your inbox.

Step 2: Fund Your Account

• Click "Funding" from the menu.
• Select the deposit method (e.g., wire transfer, credit card).
• Follow the instructions to deposit funds into your Kraken account.

Step 3: Navigate the Trading Platform

• Click "Trade" from the menu.
• Select the trading pair you want to trade (e.g., BTC/USD).
• Familiarize yourself with the order book (order bids/asks), chart, and trading tools.

Step 4: Place an Order

• To buy, select "Buy" and enter the amount you want to buy and the price you want to pay.
• To sell, select "Sell" and enter the amount you want to sell and the price you want to receive.
• Click "Place Order" to execute the trade.

Step 5: Monitor and Manage Orders

• Once your order is placed, you can monitor its status in the "Open Orders" section.
• If needed, you can adjust or cancel your order by clicking the relevant buttons.

Step 6: Withdraw Funds

• Once you have profits or funds you wish to withdraw, click "Funding" from the menu.
• Select "Withdraw Funds" and follow the instructions to transfer funds out of your Kraken account.

Additional Notes:

• Kraken offers advanced trading features such as margin trading, stop-limit orders, and trailing stops.
• Before using advanced features, it is essential to conduct thorough research and understand the potential risks involved.
• Kraken charges trading fees based on the type of order and trading volume.
• It is advisable to familiarize yourself with Kraken's platform and policies before placing any trades.