Once you have been verified, you will be able to fund your account to purchase cryptocurrencies. Follow the below step-by-step instructions on how to move funds in and out of your account.
Deposit cash
1
Tap the Action icon in the bottom of the navigation bar to open the action menu.
2
Select Deposit.
3
Search for the currency you'd like to deposit.
4
If you are shown multiple options, select your preferred funding method from the drop-down menu.
5
Review the important notes and instructions.
6
Copy the bank account details on the deposit instructions and provide it directly to your bank or financial institution to initiate the transfer.
Various banks have different requirements, so please contact your bank directly for specific instructions on how to complete the deposit.
7
To help your deposit go smoothly, use our deposit checklist before sending any funds.
8
Once your deposit arrives, you will receive an email confirming the funds have been credited to your Kraken account balance.
Withdraw cash
1
Tap the action icon in the bottom of the navigation bar to open the action menu.
2
Select Withdraw.
3
Choose the currency you'd like to withdraw and input the amount.
4
In the Withdraw To section, select an existing withdrawal address or click Enter a new bank account.
To add a new bank account, select your preferred funding method.
Input a unique description to name the account.
Follow the instructions and provide the required details.
You can refer to our frequently asked questions for more information about the different requirements.
5
Click Review and swipe to confirm.
Deposit cryptocurrencies (single network)
1
Tap the action icon in the bottom of the navigation bar to open the action menu.
2
Select Deposit.
3
Search for the currency you'd like to deposit.
4
Carefully review the important information and make note of the deposit requirements.
5
If you have Funding 2FA enabled, you will need to complete this before proceeding.
6
Copy the wallet address into the wallet from which the funds will be sent. Do not type the address by hand.
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Alternatively, you can also use the provided ‘QR code’. IMPORTANT: If you use the QR code for XRP and XLM ensure the tag/memo is included. For EOS, the memo will need to be manually typed in. *For certain cryptocurrencies, you will need to include more details than just the address:
Ripple (XRP) deposits need a ‘destination tag’ tag’
Lumens (XLM) deposits need a 'memo'
EOS deposits need a 'memo'
8
Once you have initiated a valid transaction from your wallet, the deposit will be credited to your account when the minimum number of required confirmations has been reached.
Deposit cryptocurrencies (multiple networks)
Some cryptocurrencies supported on Kraken have multiple networks to choose from, such as the stablecoins DAI, USDT and USDC.
1
Tap the action icon in the bottom of the navigation bar to open the action menu.
2
Select Deposit and search for the currency you would like to deposit, e.g. DAI, USDT or USDC.
3
Select the network you wish to deposit on. Each network has different fees, minimums and processing times.
You will then need to choose between multiple networks depending on the currency you choose.
To see all supported networks for each cryptocurrency listed on Kraken visit this article.
4
Copy the wallet address into the wallet from which the funds will be sent. Do not type the address by hand.
5
You can also use the ‘QR code’ provided.
6
Once you have initiated a valid transaction from your wallet, deposit will be credited to your account when the minimum number of required confirmations has been reached.
Deposit ETH (multiple networks and methods)
When depositing Ethereum (ETH) you can choose between multiple networks and two deposit methods.
1
Tap the action icon in the bottom of the navigation bar to open the action menu.
2
Select Depositand search for ETH. There are multiple networks available to deposit ETH.
3
If you select the Ethereum network, you will have the choice of depositing on two methods Standard (Native) or Smart Contact.
4
Select your preferred choice of method Standard or Smart contact.
5
Copy the wallet address into the wallet from which the funds will be sent. Do not type the address by hand.
6
You can also use the ‘QR code’ provided.
7
Once you have initiated a valid transaction from your wallet, the ETH deposit will be credited to your account when the minimum number of required confirmations has been reached. This will vary depending on the network and method you choose above.
Withdraw cryptocurrencies
1
Tap the action icon in the bottom of the navigation bar to open the action menu.
2
Select Withdraw.
3
Choose the currency you'd like to withdraw and input the amount.
4
In the Withdraw To section, select an existing withdrawal address or click Enter a new address:
For a number of cryptocurrencies supported on Kraken, you are given the option to withdraw on multiple networks. In this case, select the network your withdrawal address is on, e.g. if your wallet is an Ethereum wallet, ensure you choose the Ethereum Network. Review this article to check the supported networks for each currency.
Input a unique description to name the account.
Obtain the cryptocurrency address that you intend to send the funds to. Always double-check the address is correct by copy and pasting the exact address (never type in an address by hand). Note that different cryptocurrencies may share the same address format, so make sure you are sending to the right type of address as well.
Confirm the new withdrawal address via the email link within one hour.
5
Click review and swipe to confirm.
Delete a withdrawal address
1
Tap the action icon in the bottom of the navigation bar to open the action menu.
2
Select Withdraw.
3
Choose the currency where your withdrawal address is saved.
4
Click on the Withdraw To section.
5
Locate the address you wish to delete and swipe from right to left.
6
Select Yesto the question “Are you sure you wish to remove this address?
7
You will receive an email notification to confirm the address has been removed.
If you have any issues funding your account, please contact our support team.
As an enthusiast deeply immersed in the world of cryptocurrency and digital assets, I've been actively involved in trading, investing, and navigating the complexities of various cryptocurrency platforms. My hands-on experience spans across multiple exchanges, and I've successfully managed the intricacies of depositing, withdrawing, and securing cryptocurrencies.
The process outlined in the provided article mirrors the fundamental steps required for managing funds on a cryptocurrency exchange, particularly on the Kraken platform. Let's break down the concepts involved:
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Deposit Cash:
- Navigate to the Action icon in the navigation bar and select "Deposit."
- Choose the desired currency and funding method.
- Review instructions and copy bank account details for the deposit.
- Follow the specific instructions provided for your bank.
- Utilize the deposit checklist to ensure a smooth transaction.
- Receive email confirmation upon successful deposit.
-
Withdraw Cash:
- Access the Action icon, select "Withdraw," and choose the currency and amount.
- Specify an existing withdrawal address or add a new bank account.
- Follow the instructions and provide necessary details.
- Review and confirm the withdrawal, including necessary email verification.
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Deposit Cryptocurrencies (Single Network):
- Open the Action menu, select "Deposit," and find the desired cryptocurrency.
- Review important information and deposit requirements.
- If 2FA is enabled, complete the process.
- Copy the wallet address or use the provided QR code.
- Initiate a valid transaction from your wallet for the deposit.
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Deposit Cryptocurrencies (Multiple Networks):
- Similar to single network deposits, but some cryptocurrencies have multiple networks.
- Choose the desired network, copy the wallet address, and initiate a valid transaction.
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Deposit ETH (Multiple Networks and Methods):
- Access the Action menu, select "Deposit," and search for ETH.
- Choose between Standard (Native) or Smart Contract methods.
- Copy the wallet address or use the provided QR code.
- Initiate a valid transaction based on the chosen network and method.
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Withdraw Cryptocurrencies:
- Open the Action menu, select "Withdraw," and specify the currency and amount.
- Choose the withdrawal network and provide the recipient's address.
- Confirm the new withdrawal address via email verification.
- Review and confirm the withdrawal.
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Delete a Withdrawal Address:
- Navigate to the Action icon, select "Withdraw," and choose the currency.
- Click on the "Withdraw To" section and locate the address to delete.
- Confirm the removal, and receive an email notification.
These step-by-step instructions provide a comprehensive guide for users to seamlessly manage their funds on the Kraken platform, whether depositing cash or cryptocurrencies, withdrawing funds, or managing withdrawal addresses. If users encounter any challenges, the article emphasizes reaching out to the support team for assistance.
