HOW TO BUY/SELL BITCOIN AT KRAKEN
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Step 1
Buy Bitcoin via Kraken
Follow the instructions below to set up an account with Kraken, a secure and easy-to-use platform for purchasing crypto.
Kraken is most suitable for those who prefer to fund their crypto purchases from their bank account.
Get started
Enter your details
NOTE: Make sure you choose a strong and uniquepassword that you will not forget!
Confirm your email
Go to your inbox to find an email from Kraken containing your verification code.
Copy the code from the email and enter it in the Code field on the registration page.
NOTE: If you cannot find the email, it may be in your Promo, Spam or Junk folder.
Confirm your email
You will need to validate your account before you can purchase any crypto.
Go to your Kraken account and click the Verify Your Account button (top left on your dashboard). Then select the Intermediate option, required for purchasing crypto from your bank account.
Please note that the Starter option is only suitable for those who already posses crypto. No cash deposits allowed under this option.
Step 2
Deposit at CryptoRush
Now you have Bitcoin, it is time to transfer it to your CryptoRush account. Get bigger bonuses every time you deposit!
Start at CryptoRush
Log in to your CryptoRush account and click on the Cashier tab.
Copy the Bitcoin address
Select Bitcoin in the list of available methods and click to Copy the Bitcoin addressprovided, which you need at Coinbase.
Alternatively, scan the QR code with your mobile if you use a mobile wallet for your crypto.
IMPORTANT: Make sure that you select the desired cryptocurrency: Bitcoin (BTC). Picking an incorrect one could result in loss of funds.
Head to Kraken
Visit Kraken through another browser tab, sign in to your account (created in Step 1), click Funding in the top menu and then on the withdrawal icon for Bitcoin.
Paste the Bitcoin address
Click Add Bitcoin address bottom left, then paste the Bitcoin address (copied from CryptoRush) into the Withdrawal address field and confirm by clicking Add withdrawal address.
Optionally confirm the withdrawal address by clicking on the link in the confirmation email Kraken sends you.
Complete the transaction
Continue by selecting Bitcoin address for CryptoRush from withdrawal addresses, enter the desired deposit amount and hit Withdraw … BTC.
NOTE:Withdrawal amount must be filled in in BTC, e.g. 0.00123.
Step 3
Withdraw to Kraken
Won big at CryptoRush and wish to withdraw? Well done! Here is how you can transfer the winnings to Kraken, and enjoy the benefit of next-day withdrawals.
Start at Kraken
Sign in to your Kraken account, click Funding in the top menu and then on the deposit icon for Bitcoin.
Copy the Bitcoin address
Select BTC as the cryptocurrency you would like to transfer from CryptoRush to Kraken, click Generate deposit address and then click to copy the Bitcoin address, or scan the QR code on your mobile.
IMPORTANT:Make sure that you select the desired cryptocurrency: Bitcoin (BTC). Picking an incorrect one could result in loss of funds.
Head to CryptoRush
Log in to your CryptoRush account and click on the Cashier menu item.
Use Bitcoin for withdrawals
Select Withdrawal tab at the top of the screen that pops out, and make sure Bitcoinis selected in the list of Withdrawal options.
Continue by choosing the desired withdrawal amount, paste the Bitcoin address (copied from Binance.US) and click Withdraw.
Congratulations!
You have now initiated a withdrawal in Bitcoin.All of your crypto withdrawals are processed the next working day!
See here for ideas on how to spend your Bitcoin.
Step 4
Kraken Tips & Tricks
If you have Litecoin sitting in your crypto wallet waiting to be spent, here we have some inspiration for the best ways to use your crypto.
Is Kraken available in my area?
Kraken is available everywhere in the US, apart from New York (NY) and Washington State (WA).
Please see Kraken’s list of restricted locations here.
Can I use debit/credit card?
Unfortunately, debit and credit cards are not available options for those residing in the US.
Please see Kraken’s Visa and Mastercard policy here.
How much are the fees?
There is no fee for depositing funds in your Kraken account. Kraken charges about 2% for Kraken’s Instant Buy interface when buying crypto. Withdrawal fee for Bitcoin is BTC 0.00015 (currently about $25).
How much are the fees?
There is no fee for depositing funds in your Gemini account via bank account (although your bank will most probably charge some). There is a 3.5% fee applied to debit card purchases. When buying crypto on the exchange, Gemini charges $1-3 on deposits of up to $200, and 1.5% on trades higher than $200. Withdrawal fee for Bitcoin is BTC 0.00015 (currently about $25).
Are there any cheaper options?
Gemini is not ideal for small transactions, e.g. by charging $1.50 on a $25 trade. Consider making larger transactions, or using Binance.US, which charges 0.5% on all crypto trades.
You may also wish to consider switching from Bitcoin (BTC) to Litecoin (LTC) that offers considerably lower withdrawal fees for transferring crypto from Gemini to CryptoRush (BTC 0.00015 vs LTC 0.002, currently around $7.50 vs $.35).
Are my funds safe?
Kraken’s security is excellent, at the time of writing no user’s personal information has been hacked.
Is there an app available?
There is a useful Kraken’s app, available here for iOS & Android devices.
Any additional info available?
Feel free to peruse Kraken’s extensive help section here.
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WANT EASY, FAST, AND SECURE ON MOBILE?
This is a great option if you are looking for an easy Bitcoin deposit method straight from your mobile device. All you need is a bank account, a mobile device, and a phone app. The software features bank account-like security so you can feel fully confident using this method to fund your Cryptorush account.
