how to sell crypto for cash on kraken

To sell cryptocurrency for cash on Kraken, create an account, fund it, select the crypto and amount, set order parameters, review and confirm, receive cash, and withdraw it when the order is completed.

Nov 02, 2024 at 08:31 am

How to Sell Crypto for Cash on Kraken

1. Create a Kraken Account

• Visit www.kraken.com and click "Create Account."
• Provide your personal details, including name, address, and phone number.
• Verify your identity by providing government-issued ID and residential proof.

2. Fund Your Account (Optional)

• If you don't have any crypto on Kraken, you can purchase it using fiat currency such as USD via bank transfer, credit/debit card, or PayPal.

3. Navigate to the Trading Dashboard

• Log in to your Kraken account and click "Trade" in the top menu bar.
• Select "New Order" and choose the "Sell" tab.

4. Choose Your Crypto and Amount

• Select the cryptocurrency you want to sell from the dropdown menu.
• Enter the amount you want to sell in the "Amount" field.

5. Set Order Type and Parameters

• Choose an order type: Market (sell at current market price) or Limit (sell at a specified price).
• For Limit orders, specify the price at which you want to sell.

6. Review and Confirm

• Review the order details, including the cryptocurrency, amount, price (if applicable), and estimated proceeds.
• Click "Sell" to execute the order.

7. Receive Cash

• Once the order is completed, the cash proceeds will be deposited into your Kraken USD account.
• You can withdraw the cash to your bank account by clicking "Withdraw" and selecting "USD."

Additional Notes:

• Kraken charges a trading fee of 0.26% for crypto-to-cash trades.
• The minimum withdrawal amount for USD is $5.
• Withdrawal processing time may vary depending on your bank.