How to Use Kraken App (Deposit, Trade, Withdraw)

MoneyZG

Setting Up the Cracken App

  • Download the app from the App Store and sign up with email and password
  • Verify ID details (passport, driving license, ID card) and scan face with phone
  • Enable passkey authentication for added security

Depositing Money into Cracken

  • Options: bank transfer, PayPal, Apple Pay (fees vary: 0-4%)
  • Recommended: bank transfer for lowest fees
  • Easy bank transfer: links to banking app on phone, pre-confirms details

Withdrawing Fiat Currency from Cracken

  • Go to portfolio, press withdraw, and add new bank account details
  • Ensure account name matches ID details
  • Some countries may require proof of bank account ownership

Buying and Selling on Cracken

  • Press buy or sell, choose amount, and confirm
  • Fees vary depending on payment method (e.g., Apple Pay: 1% fee)
  • Recommended: use Cracken Pro app for cheaper trading fees (starting at 0.25%)

Trading on Cracken Pro

  • Download app, log in with same account
  • Navigate to trading page, choose crypto and amount
  • Use market order for immediate trade or limit order for potentially lower fees
  • Limit orders incentivized with cheaper trading fees (e.g., 25 basis points)

Withdrawing Crypto from Cracken

  • Go to portfolio, press withdraw, and select crypto and network
  • Add wallet address and confirm withdrawal
  • Can send to self-custody wallet or another exchange