How to trade on Kraken? Teaching to buy and in Kraken
How to trade on Kraken? Kraken exchange has become one of the most popular cryptocurrency exchanges in the United States. Many of the margins that exchanges such as Binance US and Coinbase have and other cryptocurrency exchanges have made Kraken successful in attracting professionals or novices. In this article in shetcoiner website, we are trying to teach you how to trade, buy and sell in this cryptocurrency exchange.
How to trade in Kraken?
You must first complete your registration, and if you are a professional trader or whale and have a large volume of sales, you can trade after authentication at higher levels of your account.
After depositing your cash in Kraken, you can now buy or sell cryptocurrency or your cryptocurrency from this exchange for the first time.
Trading in Kraken
To trade in Kraken, you can enter the Trade section in the top menu of the Kraken site after logging in to your account to see the basic or advanced options for buying and selling in Kraken.
Before doing anything, be sure to choose your currency pair. For example, if you want to convert Ethereum to European Euro ETH / EUR, then click the Trade option in the top menu and left of the Kraken site. Now in the section that opens for you, select exactly the currency pair you want to trade based on from the options and click on the gray Trade option in front of them.
Now suppose you have chosen the BTC / USD currency pair and want to buy some bitcoin with your dollar. After selecting the Trade option in front of the currency pair, you will go to the page that we have specified for you below:
On this page, you must specify your type of trade. From the New Order, Orders, Positions or Trades options, select the first option, New Order, to complete your order. Now in the section that opens, if you are new or want to buy and sell easily, select the options related to you. Here we select the Simple option from the other options to have a simple buy and sell in Kraken.
Keep in mind that knowing how to work with each of these options in the Kraken trading section will be essential for you in the future, which we will address as well.
Market Order means that you can place your orders in the amount of currency pairs you have (for example, dollars or euros) and these orders are usually made at a higher price. In fact, with market orders, you can buy or sell the desired volume, not its price.
How to transfer crypto from Kraken to Binance?
In the next option called Limit, your order will be activated only if the market price reaches the selling or buying price of your trade. For example, you want to buy $20 less Bitcoin or sell $20 higher. You can use this option for your work, which does your work automatically, and you no longer have to worry about executing your order at the specified price.