How to withdraw cash from Kraken contracts

To withdraw cash from Kraken Contracts, close positions, transferring funds from theKraken account to the bank account incurring a varying fee based on currency.

Nov 10, 2024 at 11:28 am

How to Withdraw Cash from Kraken Contracts

Kraken is a popular cryptocurrency exchange that offers a variety of trading options, including futures and options contracts. If you want to withdraw cash from your Kraken contracts, you must first close your positions and then transfer the funds from your Kraken account to your bank account.

Step 1: Close Your Kraken Contracts

1. Log in to your Kraken account and click on the "Futures" tab.
2. Find the contract that you want to close and click on the "Close Position" button.
3. Enter the amount of the contract that you want to close and click on the "Close Position" button again.
4. Once you have closed your position, the funds will be credited to your Kraken account.

Step 2: Transfer the Funds from Your Kraken Account to Your Bank Account

1. Log in to your Kraken account and click on the "Funding" tab.
2. Click on the "Withdraw" button.
3. Select the currency that you want to withdraw and enter the amount that you want to withdraw.
4. Enter your bank account information and click on the "Withdraw" button.
5. Kraken will send the funds to your bank account within 1-2 business days.

Please note that there is a fee for withdrawing funds from your Kraken account. The fee varies depending on the currency that you are withdrawing.

Additional Tips

• If you are having trouble withdrawing funds from your Kraken account, you can contact Kraken support for help.
• You can also use a third-party service to withdraw funds from your Kraken account. However, please be aware that there may be fees associated with using a third-party service.