Setting up Kraken
Guide to get started with the Kraken platform.
House Rules
Please make sure to follow our rules and requirements at all times.
Your account should always have a minimum of $500 available.
Only use your account for PinoAPI: Your trading account/wallet is dedicated to PinoAPI only. This means that you should not use it for any other purpose or service.
Don't make any changes to your account while PinoAPI is connected: While you are using PinoAPI, it is important that you do not manually interfere with your account. This includes making any changes to your account, such as withdrawing funds or changing settings.
Don't withdraw any funds while PinoAPI is actively running or has been created: If you have an active PinoAPI algorithm or have created one, do not withdraw any funds from your account while it is running. This could cause errors or issues with your algorithm.
Pay your invoices on time to avoid getting penalized: If you receive an invoice from us, make sure to pay it on time to avoid any penalties or sanctions. If you have any questions or concerns about your invoice, please contact us as soon as possible.
Violation of our house rules could result in substantial damage to your account!
Guide
When you already have a Kraken account, please proceed to Step 3.
1 - Sign up for Kraken
1. Go to Kraken
2. Register
Fill in all the forms to complete your identity verification.
3. Select the platform type
For simplicity, make sure to select the standard Kraken option.
4. Check your verification status
To ensure that we can start using Kraken, we need to check if our identity verification has been successful. We can do this by locating the Settings button.
Within the Settings menu, navigate to the Verification tab.
As the example above indicates, if your verification is successful, you are ready to use Kraken to its fullest. If your verification is not successful, it may take some additional time to complete, or Kraken may ask you to redo your verification.
2 - Deposit funds
To begin trading, deposit funds into your account.
1. Deposit
Please locate the Deposit menu. For FIAT deposits, you can click on the provided link.
To make a deposit, you must select your preferred deposit method. The available methods vary by country or jurisdiction. Popular methods include linking a bank account(Plaid) or using a manual bank transfer(Fund manually).
2. Deposit initiated
The deposit has now been initiated and should arrive in your wallet as soon as possible. The estimated time of arrival varies depending on the deposit method, but it generally doesn’t take long during working days.
When the deposit is successful, your balance should increase by the amount you deposited.
3. Convert to USD [If you did not deposit USD]
After the deposit has arrived in your account, convert the Euros or other FIAT currency or cryptocurrency into USD.
Enter the the amount of the currency that you have deposited, and covert it to USD.
Please double-check the conversion and click confirm. (Conversions are quick, but they usually carry higher fees than manually trading the EUR/USD pair)
Your Euro's should now be successfully converted into USD!
Deposit funds [MOBILE]
To begin trading, deposit funds into your account.
1. Open the Kraken App
Please install and open the Kraken App on your mobile device.
2. Open the exchange menu
When inside the Kraken App press the Exchange button.
3. Deposit
Now press the Deposit button.
4. Select the (crypto)currency you want to deposit.
Please select the correct currency for your deposit. In this guide, we will choose the Euro (EUR).
5. Select a deposit method
To make a deposit, you must select your preferred deposit method. The available methods vary by country or jurisdiction. Popular methods include linking a bank account or using a manual bank transfer.
6. Select your bank
In this guide, we will link our bank account. Please note that this is only for a one-time deposit. Kraken will not have the ability to withdraw from your linked bank account.
7. Enter the amount
Enter the amount you wish to deposit into Kraken.
8. Confirm the Deposit
Please double-check the deposit and swipe to the right to confirm.
9. Deposit initiated
The deposit has now been initiated and should arrive in your wallet as soon as possible. The estimated time of arrival varies depending on the deposit method, but it generally doesn’t take long during working days.
When the deposit is successful, your balance should increase by the amount you deposited.
11. Convert to USD [If you did not deposit USD]
After the deposit has arrived in your account, convert the Euros or other FIAT currency or cryptocurrency into USD. You can do this either by pressing the Exchange button.
Now press the Convert button.
Enter the amount of the currency that you have deposited, and convert it to USD.
Please double-check the conversion and swipe to the right to confirm. (Conversions are quick, but they usually carry higher fees than manually trading the EUR/USD pair)
Your Euro's should now be successfully converted into USD!
Using a Subaccount [OPTIONAL]
The creation of Subaccounts can only be done via PC/Website!
When your main account is already in use or when you simply want to isolate your risk using another API, creating a Subaccount is the recommended approach.
1. Create a new Kraken account.
To connect an additional account to PinoAPI through Kraken, you'll need to create a new Kraken account. Please follow the steps outlined here. To make things easier, use your main account's email address with +1 added to it (Example: sarahconnor+1@gmail.com, sarahconnor+2.. sarahconnor+3 etc..) when creating the new account. This ensures all verification emails go to the same inbox as your main account.
2. Unlock Futures.
Make sure to follow the first step provided here and Unlock Futures on your new account.
3. Link your Subaccounts [OPTIONAL]
Linking Subaccounts is currently a bit challenging as you're required to contact Kraken for assistance. For more information about Linking Subaccounts and other details regarding Subaccounts, learn more here.
4. Transfer your USD to the right wallet.
Once your Subaccounts are successfully linked, you can transfer USD from your Master (Main) account to your desired Subaccounts. To do this, log in to your Master account and navigate to the Subaccount page.
On this page, select the desired Subaccount for transferring your USD. Then, navigate to the Multi Collateral tab and open the Funds Transfer menu. Ensure that you choose to transfer funds only to the Subaccount's USD Multi-Collateral Futures wallet.
3 - Create a new API
The creation of API keys can only be done via PC/Website!
We are now going to activate your Kraken Futures and establish a new API connection.
1. Activate Kraken Futures
To activate Kraken Futures, we first need to navigate to the Kraken Pro dashboard.
Here, we locate a Futures pair, for example, BTC PERP, where we have the option to Unlock Futures.
Ensure that you read through their terms and conditions. If you agree with them, click Submit.
2. Transfer your USD to the right wallet.
Now, let’s transfer the USD from your Spot to your Futures wallet. The Multi-Collateral Futures wallet will be connected to PinoAPI.
Select USD and transfer it from your Spot to your Multi-Collateral Futures.
All done!
3. Creating a new API connection
To create a new API connection with PinoAPI, navigate to the Kraken Pro dashboard. Here, locate the Settings menu.
For Subaccounts, please log in to your Subaccount first and follow the subsequent steps.
In the Settings menu, locate the API section.
In this section, we will create a new API key for the Futures trading API.
Ensure that you use the exact permissions as shown below.
You now want to copy and save both keys. You need both keys to connect with PinoAPI, after establishing the connection we recommend removing both keys from your device.
All done! Please continue to set up PinoAPI.
Finished setting up Kraken? Continue here
Need help getting started? Make sure to ask our community or contact us.
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