How to convert between fiat currencies

Fiat currencies are not directly interchangeable on Kraken.

However, you can trade your fiat currency for a common cryptocurrency (like XBT, ETH, or XRP), and then trade that cryptocurrency for a different fiat currency.

Note:

  • All trades in a fiat-to-crypto-to-fiat transaction will be charged trading fees on every step of the way.
  • The exchange rate of going from fiat-to-crypto-to-fiat will depend on the liquidity and activity of each trading pair at the time and might not match exchange rates seen on FOREX markets.

Tip: generally, Bitcoin (XBT) and Ethereum (ETH) are the most liquid cryptocurrencies.

Example

If you want to convert USD to CAD:

  1. Buy Bitcoin (XBT) using your USD.
  2. Sell Bitcoin (XBT) for CAD.

Other common cryptocurrencies between USD and CAD:

  • Ethereum (ETH)
  • Ripple (XRP)
  • QTUM
  • Cardano (ADA)
  • Tezos (XTZ)

Refer to the table of Fiat-to-Crypto Pairs to find common cryptocurrencies for other fiat currencies.

  • Bitcoin (XBT) and Ethereum (ETH) will work for all fiat currencies.
  • Ripple (XRP) will work for all fiat currencies except GBP.