Shinobun Finance: How to open a Kraken exchange account

Please read the disclaimer first.

So I blogged that I was going to diversify my crypto assets from Bitcoin (BTC) to Polkadot (DOT) on the Kraken exchange.

Here are the step-by-step instructions on how to open an account.

Create an account with Kraken.

Enter your e-mail, desired username, password, country of residence, and state/province. Your password must be at least 12 characters long, and contain a letter, number, and special character. Check the box for "Terms of Service", and prove you aren't a robot. Click on "Create account" to continue...

An e-mail will be sent to you.

Here it is, subject "Activate Your Kraken Account", from "Kraken <noreply AT kraken DOT com>". Click on the link to activate.

Pum pum pum...

E-mail from Kraken, "Kraken Account - Activated".

Tada! Click on "Verify Your Account for Crypto".

Starter is good enough for now, click on "Verify".

Enter your personal information, and click "Next".

Status is now "Pending".

E-mail from Kraken, "Kraken Starter Account - Verified".

Status is now "Verified".

You can come back here by clicking your name on the top-right, and selecting "Get Verfied", in case you want to upgrade.

To buy crypto assets directly on Kraken, you need to be "Intermediate" level. This requires a photo ID (like a driver's license or passport), and a tax ID (like SSN or ITIN).

2 Factor Authentication is always a good idea.

Click your name on the top-right, and click "Security" then "2FA Settings".

It is required for Sign-in. Click "Activate now".

Scan the QR code from your 2FA app, and enter the 6 digit number you get, and click "Confirm". I used Google Authenticator, available for Android and iPhone devices.

If you click "View setup key", you will see a bunch of letters and numbers. Copy this to a safe place, in case you have to set up your 2FA app from scratch.