How to Buy Solana on Kraken

If you want to buy Solana on Kraken but need guidance on how to do it, we are here to help. Here is a step-by-step guide on how to buy Solana on Kraken. 

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

1. Register an Account on Kraken

First, you must open an account on Kraken.

Click “Sign Up” and fill out the registration form.

2. Verify Your Account

You must verify your account before depositing cash or crypto to your Kraken account. Click “Verify” to start. You can access the verification page by clicking on your username or clicking “Buy Crypto.”

When you fill out the form, ensure your details match your government-issued ID. Next, upload an official ID to complete the process.

3. Enable 2FA

Next, you must enable two-factor authentication. Go to your profile menu by clicking your username and hit “2FA Settings.”

Enabling Sing-in 2FA ensures that no one can log in to your account without a second approval from your phone. 

Kraken requires you to activate Sign-in 2FA before depositing to the platform. There are also optional 2FA measures for Funding and Trading.

Click “Activate Now” to start. If you don’t have a physical security key like a YubiKey, Trezor, Ledger, or Titan, you can download Google Authenticator on your phone to continue.

Once you have the app, use it to scan the code on the screen and enter the authentication code into the form. Click “Confirm.”

4. Add an Instant Payment Method

There are a couple of different ways to buy Solana on Kraken. You can deposit cash to the platform for your purchases or enter your card information into Kraken for debit card purchases.

Click “Buy Crypto.” On the buy page, select “Add Payment Method.”

Available payment methods vary depending on your location. You can deposit cash to the platform via a bank account, though the transfer may take a few days.

Credit and debit card purchases are instant, so you don’t have to wait to buy Solana with this option.

Hit “Add a payment card” and enter your card information.

4. Navigate to the Relevant Screen to Buy

Once you add a credit or debit card, you can use the “Easy Buy” feature to purchase SOL. If you deposited cash to the platform, you can use the auto-converter or the spot market for your purchase. Let’s see how.

Easy Buy

Hit “Buy Crypto” to go to the buy page. In the order form, set the receiving asset to Solana. Enter the amount you want to invest and click “Buy.”

Auto-converter

Auto-converter helps you trade easily between different currencies. If you deposit USD to the platform, you can use the auto-convert to trade it for SOL and other cryptocurrencies. You can also exchange different digital assets through auto-convert.

Spot Trade

Easy Buy and auto-convert are very convenient, but both methods are more expensive than spot trading. Spot trading gives you access to the best available prices on Kraken.

Click “Trade” to start. In the spot market interface, select SOL/USD market. If you can’t find a SOL/USD market, you can buy USDT or USDC and trade it for SOL later.

Once you select your paring, fill out the order form by entering how much you want to spend on Solana. You can also adjust the price you want to pay for a single unit of SOL through the form but keep in mind that your order may not be processed if you set a too-low price.

And that’s it for How to Buy Solana on Kraken! You now know three different ways to buy SOL on Kraken. If you enjoyed our guide, take a look at our exchange reviews for more information on crypto trading!