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How to convert between cash currencies
Last updated: Mar 31, 2025
Cash currencies are directly interchangeable on Kraken for clients based outside of the United States.
However, you can trade your cash currency for a common cryptocurrency (like BTC, ETH or MATIC) and then trade that cryptocurrency for a different cash currency.
Note:
- •
All trades in a cash-to-crypto-to-cash transaction will be charged trading fees on every step of the way.
- •
The market rate of going from cash-to-crypto-to-cash will depend on the liquidity and activity of each trading pair at the time and might not match market rates seen on FOREX markets.
Tip: generally, Bitcoin (BTC) and Ethereum (ETH) are the most liquid cryptocurrencies.
Example
If you want to convert USD to CAD:
- 1
Buy Bitcoin (BTC) using your USD.
- 2
Sell Bitcoin (BTC) for CAD.
Other common cryptocurrencies between USD and CAD:
- •
Ethereum (ETH)
- •
Polygon (MATIC)
Refer to the table of Cash-to-Crypto Pairs to find common cryptocurrencies for other cash currencies.
- •
Bitcoin (BTC) and Ethereum (ETH) will work for all cash currencies.