A Full Tutorial on Using the Kraken Pro Mobile App

Getting Started with the Kraken Pro Mobile App

1. Download the Kraken Pro app from the Apple App Store or Google Play Store based on your device’s operating system. Ensure that you are installing the official version to avoid phishing attempts or counterfeit applications.

2. Launch the app and sign in using your existing Kraken account credentials. If you don’t have an account, tap on the “Create Account” option and follow the registration steps, which include providing a valid email address, creating a strong password, and completing identity verification through Know Your Customer (KYC) procedures.

3. Enable two-factor authentication (2FA) immediately after logging in. Use an authenticator app like Google Authenticator or Authy for enhanced security instead of relying solely on SMS-based codes.

4. Navigate the home screen to familiarize yourself with the dashboard layout. Key sections include your asset balances, recent transactions, market watchlists, and quick access buttons for trading and funding your account.

Executing Trades on Kraken Pro

1. Tap on the “Trade” tab located at the bottom navigation bar. You’ll be presented with multiple order types such as market, limit, stop-loss, and take-profit orders.

2. Select a trading pair from the list—popular pairs include BTC/USD, ETH/EUR, and XRP/USD. Use the search function if you’re looking for a specific cryptocurrency.

3. Enter the amount you wish to buy or sell. The interface provides real-time price charts and depth information to assist in decision-making. Always verify the final price and fees before confirming any transaction.

4. Choose your preferred order type. A limit order allows you to set a specific price, while a market order executes immediately at the best available rate.

5. Review the order summary and confirm by entering your 2FA code. Once confirmed, the order appears in the “Open Orders” section until filled or canceled.

Managing Funds and Security Settings

1. Access the “Funding” section to deposit or withdraw cryptocurrencies and fiat currencies. Supported deposit methods include bank transfers, SEPA, SWIFT, and direct crypto transfers to generated wallet addresses.

2. When withdrawing funds, select the asset and network carefully. Mistakenly sending coins over an incompatible network may result in permanent loss of funds. Always perform a small test transaction first.

3. Set up withdrawal whitelists to restrict fund movements only to pre-approved addresses. This feature adds an extra layer of protection against unauthorized withdrawals.

4. Explore the “Security” menu to review active sessions, API key management, and login history. Revoke any unfamiliar devices or keys immediately.

5. Customize app notifications to receive alerts on price movements, executed trades, and security-related events directly on your mobile device.

Utilizing Advanced Features

1. Activate margin trading if eligible. Margin accounts allow you to trade with borrowed funds, increasing potential returns but also amplifying risks. Complete Kraken’s margin trading assessment before gaining access.

2. Use the futures trading interface for speculative positions on cryptocurrency price movements. The app supports both perpetual and quarterly futures contracts with adjustable leverage settings.

3. Monitor your portfolio performance using the built-in analytics tools. View profit and loss statements, trade history, and asset distribution across different holdings.

4. Integrate with third-party portfolio trackers via API keys. Generate read-only keys to share data without granting trading or withdrawal permissions.

5. Access Kraken’s staking services directly through the app. Stake eligible assets like ADA, DOT, or SOL to earn passive income while retaining ownership of your tokens.

Frequently Asked Questions

How do I recover my Kraken Pro account if I lose access to my 2FA device? If you lose access to your 2FA method, use your backup codes stored during setup. If those are unavailable, contact Kraken support and complete their account recovery process, which may involve submitting identification documents.

Can I use Kraken Pro to trade NFTs? No, Kraken Pro does not currently support NFT trading. The platform focuses on spot, margin, and futures trading for cryptocurrencies and select fiat currencies.

Are there inactivity fees on the Kraken Pro app? Yes, Kraken may charge an inactivity fee if your account has no trading activity for 12 months and holds a balance under $10. The fee is deducted monthly until the balance reaches zero or activity resumes.

Is the Kraken Pro app available in all countries? No, due to regulatory restrictions, Kraken Pro is not available in certain jurisdictions including the United States (except for limited states), Iran, and North Korea. Check Kraken’s official website for the most up-to-date availability list.