Kraken broker Accounts

Kraken Account Type

Kraken offers three different account types based on the level of verification a user is willing to undergo:

1. Starter Account

• Verification Level: Basic personal information (email, username, and password).
• Features:
• Unlimited cryptocurrency deposits.
• Daily withdrawal limit of $5,000 for cryptocurrencies.
• No fiat currency transactions allowed.

2. Intermediate Account

• Verification Level: Requires identity verification (government-issued ID).
• Features:
• Unlimited cryptocurrency deposits.
• Daily withdrawal limit of $500,000 for cryptocurrencies.
• Daily fiat currency deposit limit of $100,000.
• Allows fiat transactions and futures trading (for non-U.S. residents).

3. Pro Account

• Verification Level: Requires comprehensive verification (government ID and proof of residence).
• Features:
• Unlimited deposits and withdrawals for both cryptocurrencies and fiat.
• Daily fiat currency deposit limit of $10 million.
• Access to over-the-counter (OTC) trading and futures trading.

Kraken Broker Account Opening Process

To create an account on Kraken, follow these steps:

1. Visit the Kraken Website: Go to kraken.com.
2. Create Account: Click on the "Create Account" button.
3. Enter Details: Fill in your email address, username, and strong password. Accept the terms of service and privacy policy.
4. Email Verification: Check your email for a verification link and click on it to activate your account.
5. Account Verification:

• Click on your username in the top right corner and select "Get Verified."
• Choose the appropriate verification level (Starter, Intermediate, or Pro) and provide the necessary documents.

6. Deposit Funds: After verification, you can deposit funds into your account using various methods.
7. Start Trading: Once your funds are deposited, you can start trading cryptocurrencies.