How to register and trade on Kraken.com: step by step instructions

Introduction

This is a guide for new crypto enthusiasts on how to register and start trading on Kraken.com. One of the most famous cryptocurrencies exchange platform available. This guide is quite basic, but I thought someone may still find it useful. I picked Kraken just because I started using it after MtGox abandoned us, so I have some sort of sentimental attachment to it, but please make up your mind on which is the best exchange for you. There are several exchange out there, all with different features and if you want to know more you could check this site: https://www.cryptocoincharts.info/markets/info
Note: Steem is not traded on Kraken at present, but I think (and hope) this will change soon!

What is Kraken.com

Is is one of the largest Bitcoin exchange in euro volume and liquidity and also trading Canadian dollars, US dollars, Pound sterling and Japanese yen. Other cryptocurrencies are available such as Ethereum (ETH), Monero (XMR), Litecoin (LTC) and many others. Kraken is based in San Francisco, USA.

What do you need?

1. Email address
2. PC with up-to-date browser (e.g. Chrome, Firefox)
3. Internet connection
4. Personal informations

Step 1

Connect to www.kraken.com

Step 2

In order to create an account you need to insert your email address, user id and password and press sign up. You may need to add your location later on.

Step 3

This will take you to the account activation page. Check your email and you should have received an email with an activation code. Cut and paste the activation code here and click on activate account. Now you are registered!

Step 4

Following your log in your control/overview page will look like this.

Step 5

In order to trade, send and whithdraw funds you need to verify your account. There are different levels of verification (Tiers 1 to 4), and each level provides different features. Click on "get verified" and the page will ask you to enter the following details (see below), then press on "Get verified".

Congratulation! At this stage you have completed the first level of verification. Confirmation page should appear.

Step 6

Now you are ready to move to the second level of verification (Tier 2). Click on "Tier 2" and enter the details requested and press on "Get Verified".

Congratulation! You should now be verified at Tier 2 level. At this stage click on "no thanks".

This will take you back to the verification levels page.

Step 7

Now you can link your bank account to your new Kraken account to deposit or withdraw money. Log in to your Kraken account and click on "Funding".

Click on withdraw button and select your bank account currency (e.g EUR).

Press add account and enter you bank account details as requested. Make sure that the bank account holder is the same of the Kraken account. Then click on "save bank account".

Now you should be ready to make your first deposit. Always under menu "funding" select "Deposit" and then select the correct currency and deposit method (e.g. in EU use SEPA).

Enjoy your trading and good luck!