Kraken question

O

Orddie

2[H]4U
Joined
Dec 20, 2010
Messages
3,369
Looking for some help on adding a bank account for Kraken.

Im Tier 2 verified which shows I can do 2000$ daily and 10,000$ monthly of fiat (my USD to them). I ASSUME this means link a bank account.

when I go to withdraw.. it says I ned to be Tier 3 confirmed for a WIRE transfer. to deposit USD the site is also saying I need to be Tier 3.

Whats your XP using this site?
 
Honestly I'm finding the entire ID verification process to be a big fucking pain in the ass - Kraken & coinbase being the worst for me.

Gemini was pretty easy to set up, but you have to pay a fee to xfer your coin to an exchange that has more options.
 
i found coinbase to be easy - but slow

my findings here are in conflict of what is posted on the site.

ideally i do not wanna give my ss# and ID out if i don’t have to
 
Orddie said:
ideally i do not wanna give my ss# and ID out if i don’t have to
Click to expand...

You're pretty much not going to find an exchange that supports getting USD into and out of a US Bank - wires, ACH or debit/CC - without verified identity information.
 
Orddie said:
Looking for some help on adding a bank account for Kraken.

Im Tier 2 verified which shows I can do 2000$ daily and 10,000$ monthly of fiat (my USD to them). I ASSUME this means link a bank account.

when I go to withdraw.. it says I ned to be Tier 3 confirmed for a WIRE transfer. to deposit USD the site is also saying I need to be Tier 3.

Whats your XP using this site?
Click to expand...

Yes, you do need to be tier 3 verified to withdraw USD from Kraken. If it's been more than 3 weeks since you submitted tier 3 documents, I'd escalate a support ticket to get the tier 3 verification finalized.
 
buy crypto with paypal (people frequantly sell on here) transfer it whereever. no giving your id out to a crypto company
 
I use Kraken sometimes. They're OK. Not a huge fan of their trading interface though. I mostly use Binance now for most of my altcoin buys. Their withdrawal fees suck though. ($10 give or take for most stuff.)

For BTC and ETH I found coinbase mostly painless, just slow. There was the huge fuckup with Visa double charging people who used debit cards but seems that blew over. I use Gemini now for BTC and ETH buys. They charge no withdrawal fees for less than 10 transactions/month which is great. They required a wire transfer to confirm my bank but I actually found that better than linking via ACH charges which took almost a week with coinbase. With Gemini as soon as you sign up they send you instructions and you can go do the wire transfer that same day (assuming you make it before the deadline for domestic transfers).

All of the USD "off ramps" are going to follow KYC protocols. So ID's, proof of address, possibly require wire transfers to link bank accounts, weird pictures that make you feel like a kidnapping victim, etc. Get verified with one first before you need to take your money out.
 
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im looking for cheaper exchange rates. thus far it looks like Kraken is lower than most.
 
Open a support ticket, they were pretty quick responding to my own confusions with verification requirements.
 
Orddie said:
im looking for cheaper exchange rates. thus far it looks like Kraken is lower than most.
Click to expand...

Yeah it is. Sadly they don't have the moonshot shitcoins that exchanges like binance or bittrex have.
 
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