How to Buy XRP on Kraken
To get started with Kraken, please follow the below instructions.
Note: Kraken is a business that is wholly independent of Ripple. Ripple does not endorse Kraken, nor does Ripple make any representations or warranties with respect to Kraken’s services. It is advisable to always conduct your own due diligence before trusting your money to any third party.
The following general instructions are provided solely by Ripple, independent of Kraken. Please be aware that the tools and UI provided by Kraken, as described below, could potentially change without notice.
To buy XRP through Kraken, you first need to buy XBT which you can then use to buy XRP. To buy XRP, complete the following steps:
1. Go to https://www.kraken.com/signup and create an account. After you enter your information and click Sign Up, Kraken sends you an email to verify your account.
2. Activate your Kraken account by clicking the link in the email or copying and pasting the activation key in Kraken’s account activation page.
3. Verify your account by going to Account > Get Verified on the Kraken website. To make bank deposits required to buy XRP, Kraken requires Tier 2 customer verification. This means providing customer identification information, such as your name, phone number, and address. (Note: In some jurisdictions, Tier 3 verification is required to make bank deposits. Tier 3 verification requires uploading a valid government-issued photo ID and proof of residence documentation.)
4. After you verify your account, deposit funds to your Kraken account by going to Account > Funding > Deposit and selecting the type of deposit. For more information about making deposits, see the Kraken Support Center.
a. Place an order to buy XBT by going to Account > Trade > New Order
b. Select the currency pair with the fiat currency that matches the currency of your deposit. Make sure you select the correct currency pair. The currency pair you select determines which currencies are bought and sold. For example, if you select GBP/XBT, clicking Buy means that you buy GBP and sell XBT. With the same currency pair, clicking Sell means that you sell GBP and buy XBT. For more information about trading on Kraken, see Trading Basics available in the Kraken Support Center.
c. In the New Order tab, select the Simple interface and place a Buy order for XBT.
d. Enter the amount of XBT that you want to buy. You can choose to buy at the current market rate or place a limit order.
5. To buy XRP with your XBT:
a. Select the XRP/XBT from the currency pair drop-down menu.
b. In the New Order tab, select the Simple interface and place a Buy order for XRP.
c. Enter the amount of XRP you want to buy and submit your order.