How To Sell Bitcoin on Kraken
We get it, sometimes you can’t HODL forever. No matter how passionate you are about Bitcoin and the future of money, there may come a time when it’s advantageous to sell your BTC.
Maybe you’ve found another cryptocurrency you think will offer better returns, or maybe you need U.S. dollars or euros for a family purchase you’ve long wanted to make.
Whatever the reason, a trusted crypto exchange with a real-time order book (like Kraken) will give you real-time updates on what buyers and sellers believe to be a fair price of BTC. Before we proceed, make sure to check our guide on how to buy bitcoin from Kraken.
If you’re sure you’re ready to sell your BTC, follow our step-by-step instructions below.
How to sell BTC on Kraken?
To begin, follow these easy steps below:
- Sign up for a Kraken account
You’ll need a username, email address and a strong password.
- Verify your Kraken account
Kraken requires you to provide your name, birth date, country of residence and phone number. If you own BTC, providing this information should allow you to deposit and sell it today.
If you want to sell BTC for a fiat currency (e.g. Euro or GBP), you’ll need to provide details including your identification and proof-of-residence documents. You can learn more about Kraken’s different verification levels here.
- Send BTC to your Kraken address
If you want to sell some or all of your BTC for another crypto asset (like BCH or LTC), start by generating a deposit address in your Kraken account and sending your BTC to that new address. Depositing your crypto to Kraken is as easy as transferring it to any Bitcoin address.
When you send your BTC to the deposit address, your bitcoin wallet will generate a transaction with an ID and broadcast this transaction to the Bitcoin network. Transactions are confirmed by the network in batches called blocks, on average every 10 minutes. Blocks have limited capacity, so transactions are prioritized by fee rate. This process is a byproduct of Bitcoin’s decentralized design and is outside of Kraken’s control.
After your transaction has been included in a block and buried under 5 more blocks, for a total of six confirmations, the BTC will be credited to your account on Kraken.
- Start selling bitcoin!
Once your account is funded, you’ll be able to sell your BTC.
Next, open the New Order page, fill out our order form and click SELL. You can also check their charts to pick the right time to trade.
If you run into any trouble selling your BTC, their experts are there to help. The support team is online and at the ready 24/7, meaning you can always reach on LiveChat or by email.
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