How to Buy Cardano on Kraken

Kraken is a popular exchange known for its safety-first approach. The exchange sells many different assets, including Cardano (ADA). If you aren’t sure how to do that, no worries. Here is a step-by-step account of how to buy Cardano on Kraken.

A Step-By-Step Guide on How to Buy Cardano on Kraken

1. Register an Account on Kraken

Let’s start by opening a Kraken account. Click sign up On the Kraken homepage. Then, fill out the registration form.

2. Verify Your Account

You have to get verified to purchase ADA on Kraken.

Identity verification is quite easy: Enter your information and submit proof of ID to complete the process.

3. Enable 2FA

Select your name and click on 2FA settings.

As you can see, you can enable 2FA for several operations, including sign-in, withdrawing, and placing orders. Once you enable 2FA, you will need to double-confirm every operation through the website and your Google authenticator app.

You must enable 2FA for sign-in, but others are optional. Setup is quite easy: download an authenticator app and scan the page. Enter the resulting code on the screen to complete the process.

4. Add an Instant Payment Method

Now you can add a payment method to buy ADA. First, go to the “Buy Crypto” page. Click on “Add Payment Methods.” 

Cash deposits may take a couple of days to come through, depending on your bank.  Credit and debit card purchases are processed instantly.

Once you give your card information, you can proceed to buy ADA on Kraken. Or you can select the cash deposit option to add fiat currency to your account.

4. Navigate to the Relevant Screen to Buy

Now we will see how to buy Cardano on Kraken. For the easiest method, go to the “Buy Crypto” page, where you will see a basic order form. Enter the amount you will pay for ADA. Then, all you have to do is to select ADA as your desired currency and decide on the payment method.

Once you fill out the form, confirm the transaction. You will see your order review, which includes how much ADA you will receive for your money, as well as any fees. Credit card purchases usually involve a 4-5% processing fee. Fees will be cheaper if you use your fiat balance to pay for the transaction.

An alternative way to buy ADA is to use the auto-converter feature. This way, you can convert USD to ADA though you pay a set price.

For maximum profits and price flexibility, go to the spot trading interface by clicking “Trade.” Select USD/ADA (or EUR/ADA), and create a buy order. Usually, the order form is set to limit orders, so you will get an automatic price. You can also set it to a lower price and wait for a seller who agrees to your price.

And that’s how to buy Cardano on Kraken. Good luck!