Welcome to this post, where we will see how to deposit funds in kraken in a simple and easy way, whether you want to deposit euros, dollars or another currency, as well as cryptocurrencies from another exchange or wallet.
Kraken allows its users to buy in an easy and simple way, using the credit card and without having to make many operations to deposit funds. In kraken, you can directly buy cryptocurrencies with your payment method, or deposit funds with your currency, to later use them to buy cryptocurrencies.
Let’s see the different ways that kraken allows you to deposit funds, as well as send cryptocurrencies from another Exchange or wallet to kraken, either to have them safer, sell them and withdraw money to your bank account or exchange it for another cryptocurrency.
To deposit fiat directly to your account, it is only possible by bank transfer. But you can also directly buy a cryptocurrency with your credit or debit card, or Apple pay, and if you want, then exchange your cryptocurrency for your currency. This way, you will have fiat in your kraken account, be it euros, dollars or your currency.
To deposit by bank transfer, click on the bottom right, on deposit. Here, we will select our currency, in my case Euro. You can see below the different payment options to deposit funds. As you can see it is by bank transfer.
Select the option you like the most, and you will find the information to make the transfer to that account. Always take into account the commissions or fees, and the minimum and maximum amount to deposit. This way, after a few business days, you should be able to see your deposit in kraken.
The other option, to have funds immediately, is to simply purchase using your credit card, debit card or Apple pay.
To do this it is as simple as clicking on the button on the bottom right of the app, and clicking on buy. Here you will be able to buy directly with money with your credit or debit card. Now, you must select the cryptocurrency you want to buy.
Once you have selected this, the next thing to do is to indicate the amount. Click on review, and select the payment method in pay with. You can use Apple pay or your credit or debit card.
With the payment method indicated, slide down the button to confirm your order and confirm your payment. You will see a success message that the order has been executed, and the amount of the cryptocurrency you have purchased.
It’s that simple to buy using Apple pay or your debit card with kraken, and you will see the cryptocurrency in your balance. If you want to have FIAT, go back to the bottom right, under sell. Indicate the amount of the cryptocurrency you have purchased or if you want the full amount, click on max, and click on review. Slide to confirm. And in this way, you will already have Euros in my case, or your currency in your Kraken account, to use it at any time.
Now let’s see how to deposit funds by sending it from another Exchange, in this case Binance being the most used. Although the operation is the same if you use another Exchange to send cryptocurrencies to Kraken. The same happens with wallets like metamask, where the operation is very similar to send cryptocurrencies to your Coinbase account. With that said, let’s get started.
Binance also allows you to deposit with a credit card and buy many different cryptocurrencies. We will focus on how you can send cryptocurrencies, and not the whole process of depositing and buying within Binance. If you want to know how it’s done in more detail, you can find a guide on our page.
With the cryptocurrency we want to send in the binance balance, for example with Bitcoin, we will go to wallet and spot wallet.
Here, we must first indicate the Kraken address where to deposit Bitcoin. To find out the address, go to Kraken and click on deposit at the bottom right. Here, we indicate the cryptocurrency we want to receive and click continue. Copy the address and paste it into binance. Select the same network as indicated in Kraken, in case of Bitcoin, the Bitcoin network. Indicate the amount you want to send and confirm the transaction with your email and mobile codes. You will see the commission, which in the case of the BTC network, is not very high. Above all, when you copy the address in Kraken, look at the network it indicates to select the same in Binance.
With this, after a few minutes you should be able to see your cryptocurrencies sent in your Kraken main account balance. Now you will have funds to use in Kraken to buy any of the cryptocurrencies within the platform.
Always make sure to see which network is the address Kraken uses to receive, and indicate the same on Binance or use the same network if you are using a wallet like metamask, to avoid losing your funds. If you can, first send a small amount to check that it arrives without problems.
I hope this has helped you to be able to deposit funds in Kraken, without paying high fees. If you don’t have an account with either exchange, you can create your account below.