A Dive Into Kraken Cards, Deposit Rewards, And Staking Rewards

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Bitcoin
A Dive Into Kraken Cards, Deposit Rewards, And Staking Rewards

Since its inception in 2011, the online trading platform Kraken has been regarded as a leading player in the cryptocurrency world. Besides its low fees and flexible payment options, this payment service has gained widespread recognition. The platform is secure and user-friendly, making it an ideal choice for people looking to start trading and manage their portfolios. It also features a variety of tools and resources that will help them develop and manage their assets.

Kraken Cards

Issuing company/ card typeTransaction feeCash advance feeCashback
VisaA fee of 3.75% + 0.25c
MastercardA fee of 3.75% + 0.25c

Deposit With Fiat

On Kraken, you can buy cryptocurrencies using any of the seven fiat currencies: USD, GBP, EUR, JPY, AUD, CHF, and AUD. This is the easiest way for people to buy digital assets, as there’s no need to convert their local currency to Bitcoin or USD before making a purchase. Using the platform’s instant buy function, you can also trade on the market. 

Although various types of cryptocurrencies are available in different fiat currencies, they can only be bought in certain types of currencies. For instance, if you use JPY, you can only buy ETH, BTC, XRP, BCH, LTC, and USDT. However, converting your JPY to USD allows you to access the full range of coins easily.

Instant Buy

Users can easily access its services with the platform’s instant buy option. It’s a convenient way for new users to start trading or buying cryptocurrencies. You can buy coins from the exchange you want at the listed price or sell them to the company you wish to purchase them from. No wait times are required when you order from Kraken.

For those looking to buy or sell at a given price, the stock exchange is the best option. It offers lower fees, starting at 0.16% for makers and 0.26% for takers, and allows users to make and take orders with fiat currencies.

Card And Transaction Limits

CurrencyMinimum Purchase AmountSeven Day Purchase LimitProcessing Fee
EUR€10.00€7,5003.75% + €0.25
GBP£8.00£6,0003.75% + £0.25
USD$10.00$7,5003.75% + £0.25

To protect users, the exchange locks withdrawals in any currency up to 100% of your first credit or debit card purchase for 72 hours. If your first credit or debit card purchase were $1,000, you’d be unable to withdraw the equivalent of that amount in either fiat currency or cash for the next 72 hours. It will also lock any additional purchases made with either credit or debit card away during this period.

Requirements

  • It is a requirement for your Kraken account to be verified at the Intermediate or Pro level
  • It is a requirement that you hold a valid Visa or Mastercard under the same legal name as your Kraken account.
  • It is important that your debit card or credit card support 3D Secure.

Staking

With staking, you can easily earn crypto and cash holdings rewards. With just two clicks, you can start staking and automatically earn weekly rewards. You don’t have to pay any penalties, and you can unstake at any time.

You can earn rewards by holding onto and acquiring assets such as fiat and cryptocurrencies for some time. Some of these coins require a bonding period. To earn rewards, choose the asset you wish to stake, and it will be ready to start rewarding you once it has completed its bonding process.

CryptocurrencyYearly Staking Reward
Cardano4-6%
Cosmos12%
Ethereum 2.04-7%
Flow6-9%
Kava23%
Kusama18%
Mina12-20%
Polkadot12%
Secret18-21%
Solana6%
Tezos 5%
Tron6-9%
Bitcoin0.25%
Euro1.5%
US Dollar2%

On-Chain and Off-Chain Staking

On-chain staking is done through blockchain technology, such as the Tezos protocol. On the other hand, off-chain staking is done through the use of various internal programs of the Kraken. 

Final Thoughts

For people new to cryptocurrency trading, the choice of a digital token such as Kraken is a good alternative. It has a wide variety of features and low fees. With various trading options, including a dark pool and a variety of stop-loss orders, it is an excellent platform for people looking to trade cryptocurrencies. One of its main features is that it allows users to exchange fiat currencies such as the dollar, euro, and pound.

For people looking for a secure and reliable platform for their cryptocurrency trading, look no further than the Kraken exchange. It is an old-fashioned and reputable exchange with various features and options for everyone.

Samuel Mbaki Wanjiku

Samuel is an adventurous person who likes to explore topics in-depth and learn new things each day. His passion lies in gaining knowledge to help transform the world through his writing skills. He also believes in blockchain technology and its potential to usher in a cashless society. Currently, he is pursuing a Computer Science Bachelor’s degree driven by his fascination with emerging technologies. He has writing experience of about three years in different fields and two in blockchain technology.