How to get verified on the Kraken exchange

 Kraken is one of the most loyal platforms in terms of verification: unlike its closest American competitor Poloniex, sending photos of your passport to the resource administration is optional on Kraken. In addition, two-factor authentication is also not imposed by the service management. But we strongly recommend that you still connect 2FA, because the security of your trading and your account as a whole depends on it. In this article, we will analyze in detail how long does it take to get verified on Kraken exchange?

On the Kraken site, verification is not considered two-factor authentication, as is customary on most other platforms. Instead, you need to provide some personal information about yourself. It is also not necessary to send photos or scans of your documents as confirmation, if you are not going to trade in large volumes. To start the verification, click on the "Account" line in the header of the site; then click on the "Get Verified" tab. Here are the first stages of account verification.

Here, not only the fields for filling in the data are given, but also it is indicated why to undergo verification and what opportunities this gives the client. Next, scroll to the bottom of the page. There you will find the fields that you need to fill out.

To obtain the Tier 1 status, you must specify the following data:

Your full name and surname, as well as Middle-name, if any;

Your date of birth;

Your country of residence. This can be your country of citizenship or your country of residence;

Enter your phone number. The system does not send any verification SMS, so you can enter a number other than your own if you wish.

After entering, send the data to the resource administration. All of them are accepted automatically and without any verification, so you instantly get Tier 1 - and this is already enough for trading, depositing and withdrawing tokens in large enough volumes.

Security
settings To configure security parameters, you need to go to the "Secutity" tab, which is located in your personal account. Here you will also see the two-factor authentication settings. What is curious is the breakdown of authentication by type of action: for example, the exchange may ask the client for a different 2FA key to place an order, log-in, withdraw tokens, etc. To make it easier to understand, we will analyze only authentication when logging in. ... In most cases, this measure is sufficient to achieve a comfortable level of safety. Click on the "Off" button on the right side. The system will offer you three options for two-factor authentication

We recommend using the Google Authentication system, as this program has never had a loud scandal. The exchange will issue your personal QR code and a backup key - be sure to write the key to yourself somewhere in a document or notepad, since it helps to restore access to your account in case of problems. Next, download the Google Authenticator application and scan the QR code with it. Enter the resulting six-digit combination into the appropriate field. This completes the binding of the Authenticator - now, when you log in, you will be prompted for a code from the application.

What does verification on the KRAKEN exchange give to Clients?

Two-factor authentication is done solely at the client's good will. But it is still strongly recommended to do it, since it significantly increases the safety of trading. Basic verification is needed to be able to trade on the exchange. Until at least the status of "Tier 1" is obtained, the user is not able to enter or withdraw tokens, or even place orders. However, upon receipt of the "Tier 1" status, it is already possible to withdraw and enter cryptocurrency in the amount of up to $ 25,000 per month. The "Tier 2" status is required to deposit and withdraw fiat currency - dollars or euros - directly. Etc. The most advanced level allows the client to trade any pair, withdraw and enter euros, dollars and crypto in a monthly volume of up to 500 thousand dollars.

Conclusion

Verification on Kraken is configured in such a way that it does not take a lot of time. The attitude of the management of the exchange towards clients is at least indicated by the fact that it is enough to indicate the minimum set of personal data in order to already be able to fully trade on the exchange and withdraw cryptocurrency from it. Therefore, even completely inexperienced beginners will not have problems with security settings.