how to buy with kraken pro

To purchase cryptocurrency on Kraken, users must first establish an account, ascertain their identity, and add funds before initiating a trade order.

Oct 25, 2024 at 05:14 pm

How to Buy Crypto with Kraken Pro

Step 1: Create a Kraken Account

Visit the Kraken website and click "Create Account." Enter your email, username, and password, and agree to the terms and conditions.

Step 2: Verify Your Identity

To buy crypto on Kraken, you need to verify your identity. Click on "My Account" and then "Verification." Follow the steps to provide the required identification documents.

Step 3: Deposit Funds

Click on "Funding" and select your preferred deposit method from the options available, such as bank transfer, credit/debit card, or PayPal. Enter the amount you wish to deposit and follow the instructions to complete the transaction.

Step 4: Open a Trade Order

Navigate to the "Trade" tab and select the crypto you want to buy from the left-hand menu. For example, to buy Bitcoin (BTC), click on "BTC/USD."

Step 5: Enter Order Details

In the trade window, enter the following details:

• Order type: Choose from Market, Limit, or Stop orders depending on your trading strategy.
• Quantity: Specify the amount of crypto you want to buy, in the base currency (e.g., USD for BTC/USD).
• Price: For Market orders, leave the price field blank. For Limit orders, specify the price at which you want to buy.
• Leverage: Optional, allows you to increase your trading position with borrowed funds.

Step 6: Review and Execute Order

Review the order details carefully before clicking "Buy." Your order will be submitted to the Kraken exchange and processed based on the order type and market conditions.

Step 7: Monitor and Manage Trades

Once your order is executed, you can monitor its status and manage your trades in the "Open Orders" and "Trade History" sections of the Kraken platform.