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Bitcoin Open account

Bitcoin Exchanges / March 2, 2021

Kraken is the leading Bitcoin exchange for those who demand fast execution, innovative features, exceptional support, and high security. People around the world choose Kraken to buy and sell bitcoins because we always put the client first. As a result, we are consistently rated the top exchange in independent reviews. Kraken is based in San Francisco, USA.

What is Bitcoin?

Bitcoin is a digital currency used for fast, secure and low cost payments without the need for a central issuer or processor. Bitcoins are stored and sent electronically from private wallets. Introduced in 2009, bitcoins have increased greatly in value due to their limited supply and growing popularity.

How to buy bitcoins?

After you deposit cash from your bank to your Kraken account, you can make an order to buy bitcoins on the exchange. When your order is filled, you can withdraw your bitcoins to your wallet.

How to sell bitcoins?

After you send bitcoins from your wallet to your Kraken account, you can make an order to sell them for cash. When your order is filled, you can withdraw the cash to your bank.

What currencies can I trade bitcoins with?

You can trade between bitcoins and euros, US dollars, Canadian dollars, British pounds and Japanese yen.

What is verification?

The law requires that we verify your account by asking who you are and where you live. To open a basic account and get started trading, we only ask a few things. An advanced account is like opening a bank account and requires supporting documents.

What information must I provide to trade?

To open a basic account and start trading, we only require your full name, date of birth, address and phone number. A more advanced account (for higher account funding limits and in some areas required for bank funding) additionally requires a government issued ID and proof of residence. In some countries we require SSN (US only) or ID confirmation (Germany or Japan).

Why do I have to provide my personal information to trade bitcoins?

Kraken takes every measure to prevent fraud and be fully compliant with KYC and AML regulations for trading of digital assets.

What currencies can I deposit and withdraw?

You can deposit and withdraw euros, US dollars, Canadian dollars, British pounds, Japanese yen, bitcoins and other digital currencies.

What are the options to deposit or withdraw cash through a bank and what are the fees?

Deposit options and fees

  • EUR SEPA Deposit (Free) - EEA countries only
  • EUR Bank Wire Deposit (€5) - EEA countries only
  • USD Bank Wire Deposit ($5 USD) - US only
  • JPY Bank deposit (Free, ¥5, 000 deposit minimum) - Japan only
  • CAD Wire Deposit (Free)

Withdrawal options and fees

  • EUR SEPA Withdrawal (€0.09) - EEA countries only
  • USD Bank Wire Withdrawal ($5 USD) - US only
  • JPY Bank withdrawal (¥20) - Japan only
  • CAD EFT Withdrawal ($10 CAD flat fee, $25K CAD daily max) - Canada only

We are always working to add more funding options to better serve our clients globally. Fees are determined by our transaction costs and may be adjusted if our funding partners adjust their fee structure.

Can I trade digital currencies other than Bitcoin?

Yes. You can trade Bitcoin(XBT), Ethereum (ETH), Monero (XMR), Ethereum Classic (ETC), Augur REP tokens (REP), ICONOMI (ICN), Melon tokens (MLN), Zcash (ZEC), Litecoin (LTC), Dogecoin (XDG), Ripple (XRP) and Stellar/Lumens (XLM).