Cryptocurrencies are becoming more popular, and Kraken is one of the most reliable and beginner-friendly exchanges to start your journey. This guide will walk you through every step, from creating your account to buying your first crypto.
🧾 1. Create a Kraken Account
Visit Kraken’s official website.
Click “Create Account.”
Enter your email, username, password, and country of residence.
Confirm your email address via the link sent to your inbox.
✅ Tip: Use a strong password and activate 2-Factor Authentication (2FA) for better security later on.
🛂 2. Verify Your Identity
Before you can deposit funds or buy crypto, Kraken requires you to verify your identity. This is a legal requirement (called KYC – Know Your Customer) to prevent fraud and money laundering.
Here's what you need to do:
Log into your Kraken account.
Go to “Get Verified” in your dashboard.
Choose your account type (Starter, Intermediate, or Pro).
For most users, Intermediate is recommended.
Upload your:
Government-issued ID (passport or ID card)
Selfie or liveness check (Kraken might ask you to record a short video)
Proof of address (utility bill or bank statement)
Wait for approval – it usually takes from a few minutes to a couple of hours.
🛡️ Why verification matters: It allows you to access higher limits, deposit fiat currency (like EUR or USD), and increases the overall security of your account.
💰 3. Fund Your Account (Deposit Fiat Currency)
Once your account is verified, you can deposit traditional money (fiat) to buy crypto.
To deposit fiat:
Go to “Funding” from your Kraken dashboard.
Click “Deposit” and select your fiat currency (e.g., EUR or USD).
Choose a deposit method, such as:
Bank transfer (SEPA for EU users, SWIFT for international users)
Kraken will show you bank details and a reference code.
From your banking app or website, initiate a transfer to the provided account and make sure to enter the reference code.
💡 Note: Bank transfers can take 1 - 3 business days depending on your location and banking provider.
💸 4. Buy Crypto on Kraken
Now that your fiat funds are in your Kraken account, it’s time to buy your first crypto!
Steps to buy:
Go to “Buy Crypto” or “Trade” in your dashboard.
Select the crypto you want to buy (e.g., Bitcoin – BTC, Ethereum – ETH).
Choose the fiat currency you're paying with (e.g., EUR).
Enter the amount you want to spend or the amount of crypto you want to buy.
Review the preview of your order.
Click “Buy” to complete your purchase.
💡 Tip: If you want more control (like setting your own price), go to the “Advanced” or “Classic” Trade tab and use the limit order function.
🔐 5. Secure Your Crypto
Once you've made your purchase, your crypto will appear in your Kraken wallet. For higher security, especially for larger amounts, consider transferring it to a private wallet (hardware wallets are recommended).
🧠 Final Thoughts
Buying crypto on Kraken might feel overwhelming at first, but with this step-by-step guide, you're equipped to safely make your first purchase. Just remember:
Always double-check wallet addresses.
Enable 2FA.
Never share your login details with anyone.
You're now officially part of the crypto world! 🚀