how to buy crypto on kraken with credit card

To purchase cryptocurrency on Kraken using a credit card, users must establish an account, verify their identity, set up 2FA, fund their account, input credit card information, authorize the transfer, select a cryptocurrency, place a limit order, and finish the transaction.

Oct 29, 2024 at 04:36 pm

How To Buy Cryptocurrency on Kraken with a Credit Card

Step 1: Create a Kraken Account
Visit the Kraken website and click on the "Create Account" button. Enter your personal information and create a strong password.

Step 2: Verify Your Identity
Kraken requires you to verify your identity to comply with anti-money laundering and know-your-customer (KYC) regulations. Upload a clear copy of your government-issued ID and a selfie holding the ID.

Step 3: Set Up 2-Factor Authentication (2FA)
Enable 2FA to enhance the security of your account. You can choose between SMS-based 2FA or an authenticator app like Google Authenticator.

Step 4: Deposit Funds Using a Credit Card
Log in to your Kraken account and navigate to the "Funding" page. Click on "Deposit" and select your currency. Choose "Credit Card" as the deposit method.

Step 5: Enter Your Credit Card Details
Provide your credit card information, including the card number, expiration date, and CVV. Enter the amount you wish to deposit.

Step 6: Authorize the Transaction
Review the deposit details and click on the "Deposit" button. You will be redirected to your credit card issuer's website to authorize the transaction.

Step 7: Purchase Cryptocurrency
Once the funds are credited to your Kraken account, you can start buying cryptocurrency. Navigate to the "Trade" page and select the cryptocurrency you want to purchase.

Step 8: Place a Limit Order
In the trade screen, choose "Limit" as the order type. Enter the price at which you want to buy the cryptocurrency. This ensures that you only buy it if the market price reaches that level.

Step 9: Complete the Transaction
Review the order details and click on the "Buy" button. Your cryptocurrency will be deposited into yourKraken wallet once the trade is executed.