Buying Crypto on Kraken FAQ

See below the most common FAQ's when buying crypto on Kraken:

  1. 1

    Click on Buy Crypto at the top of the page.

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  2. 2

    Select Add payment method and then select Connect a bank.

  3. 3

    Select the Pay with drop down and click the Add a payment method button. If you have previously added a payment method or if you have a cash balance, you will see an existing payment method instead of the Add payment method option.

    ConsumerWeb_AddPaymentMethod.png

  4. 4

    Locate your bank by entering the name in the search field.

  5. 5

    Input your online banking sign-in credentials. Depending on your bank, you may need to provide additional verification via text message, email or phone call.

  6. 6

    Once confirmed, your online banking will be listed in the Pay with option.

Once your card or banking information is stored, it's not possible to access and edit. You will need to delete the stored information and then add it again with the updated information if needed. To delete card or banking information, click on the profile icon in the top right corner of your screen and click on Payment methods. Next to the card or bank account you want to remove, select the bin icon and click Remove.

If you do not see remove card, you will need to disable your Global Settings Lock. A maximum of four successful attempts to save your payment card is allowed within a 30 day rolling period. Deleting saved cards will not reset this limit so be mindful of this before removing any of your saved card details.

The asset that you have purchased will be credited to your Kraken account balance. To view the transaction, navigate to the Transactions tab on your account. The purchase will be visible in the format of:

  • •

    Bought = The amount debited from your account balance

  • •

    Deposited = The amount credited to your Kraken balance

If you purchased with your card or online banking, you will see HOLD beside the deposit entry. This is just a term to differentiate between an instant purchase and a cash bank wire deposit. The deposited funds are held for a specific crypto purchase, and should not be confused with a deposit that has been placed on hold.

Cash and bank wire deposits

Kraken supports a wide range of cash and bank wire deposits in the following currencies: USD, EUR, CAD, AUD, GBP, CHF, JPY and BRL. To be eligible for these deposit options, your Kraken account must be verified to Intermediate or Pro level. US residents (excluding NY, TX, WA and overseas US Territories) are also eligible for Express verification.For step by step instructions, please see our support article on how to deposit funds to your Kraken account.

Bank wire withdrawals

Withdrawals via bank wire are available in USD, EUR, CAD, AUD, GBP, CHF and JPY. To be eligible for these withdrawal options, your Kraken account must be verified to Intermediate or Pro level. US residents (excluding NY, TX, WA and overseas US Territories) are also eligible for Express verification.Our guide on how to withdraw funds from your Kraken account will show you how to do this.

Crypto deposits

With many different cryptocurrencies available on Kraken, deposit options are endless!Have a look at our guide on how to deposit cryptocurrencies to your Kraken account for detailed instructions.Remember to check the minimum deposit amount before you send any funds.

Crypto withdrawals

Withdrawing your crypto funds is quick and easy. Our guide on how to withdraw cryptocurrencies from your Kraken account provides detailed instructions.

Debit & credit card purchases

Debit & credit card purchases are available to Kraken users with Intermediate or Pro level verified accounts and residence in one of these supported countries. Kraken accepts Visa or Mastercard that support 3D Secure (3DS) which is in the same legal name as your Kraken account.If your debit or credit card purchase has failed or continues to be declined, it could be for a number of reasons. Please contact our support team if your purchases continue to fail. 

Plaid ACH purchases

To be eligible for Plaid ACH purchases, your Kraken account must be verified to the Intermediate or Pro level with residence in the USA. If you are having trouble making a purchase through Plaid ACH, please contact our support team.

 

If the issue persists please contact our support team. This service is not available to residents in Maine and New York.

You can buy, sell and convert any asset to any other asset. Please note the following exceptions:

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    There are some geographic restrictions which may affect the assets that are available in your verified country of residence.

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    Cash-to-Cash pairs are not available in the USA.

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    ETH2.S-ETH is not available.

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    XRP/DOGE pair is not available for Belarus, Japan, Russia, and US clients.

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    Newly listed coins may have a delay of a few days before becoming available.

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