One of the key questions when trading with crypto is the time needed for each transaction to take place. And if you are thinking about trading on Kraken, you probably want to know how long does Kraken deposit take. Whether you are making deposits with fiat currency or in crypto, knowing how much this will take can save you a lot of money and energy.
Your fiat currency deposit on Kraken will appear on your balance sometime between 0-5 business days, depending on the country and currency you are depositing. If you are making the deposit in cryptocurrency, Kraken will require this deposit to receive a number of confirmations on the blockchain.
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The number of confirmations you will need to receive for your cryptocurrency deposit will depend on the type of currency you put on your balance.
How Long Does Kraken Deposit Take for Fiat Currency?
Kraken allows numerous ways to fund your account. You can do it by bank wire transfer or credit card, ACH or digital wallet. Some first-time purchases via ACH, credit card, or digital wallet can trigger a temporary withdrawal hold on your account that will last for 72 hours, for security reasons. Fiat currencies that Kraken supports are:
- USD,
- EUR,
- CAD,
- AUD,
- GBP,
- CHF,
- JPY.
Each Currency and Country Have a Different Depositing Time
On average, each currency’s depositing time will last 1-5 business days, while for some fiat currencies, this can be done instantly. All deposits will be charged a minimal fee, except CAD and EUR (for SEPA countries,) which are free. Take a look at how long your deposit will take time depending on the country, currency, and method of depositing you choose.
| Currency | Method domestic | Method international | Time |
| USD | Network (SEN) Fedwire Silvergate Exchange Etana Custody SWIFT | Etana Custody Silvergate Exchange Wire Transfer Network (SEN) | 1-5 business days |
| CAD | Wire transfer Etana Custody In-person | POSconnect Interfin Transfer Etana Custody Wire transfer | 1-5 business days |
| EUR | Etana Custody SEPA bank transfer | Etana Custody Wire transfer | 1-5 business days |
| AUD | Bank Transfer PayID Osko | NA | 1-2 business days Instant Instant |
| GBP | Etana Custody, CHAPS, FPS, and BACS | Etana Custody, CHAPS, FPS, and BACS | 1-5 business days |
| CHF | SIC – Bank Frick | SWIFT – Bank Frick | 1-5 business days |
| JPY | – | Etana Custody | 1-5 business days |
Processing Time for Cryptocurrency Deposits
On Kraken you can directly deposit cryptocurrency from your wallet. But for security reasons, Kraken requires confirmations to be made on blockchain for each currency. The time of processing these transactions will depend on the number of confirmations. Kraken supports over 110 cryptocurrencies, and here is the processing time and a number of confirmations you will need for the most popular coins:
| Cryptocurrency | Number of confirmations | Processing time |
| Aavegotchi (GHST) | 20 confirmations | 5 minutes |
| ApeCoin (APE) | 20 confirmations | 5 minutes |
| Axie Infinity (AXS) | 20 confirmations | 5 minutes |
| Avalanche (AVAX) | 20 confirmations | 1 minute |
| Bitcoin (BTC) | 4 confirmations | EST 40 minutes Dependent on fee |
| Bitcoin Cash (BCH) | 15 confirmations | 2.5 hours (150 minutes) |
| Dogecoin (DOGE) | 40 confirmations | 40 minutes |
| Ethereum (ETH) | 20 confirmations | 5 minutes |
| Litecoin (LTC) | 12 confirmations | 30 minutes |
How to Deposit on Kraken With a Card?
On Kraken, you can instantly buy, sell, or convert any combination of cryptocurrencies and cash. Using the Buy Crypto tool, you can add your credit card (Master or Visa) to your account. All you need to do is go to the “Buy Crypto” on your Kraken app, select “Payment methods,” and then click on the “add card” option. Follow the instructions and put the necessary information in the fields. Once everything is done, you will have to wait for card validation.
How to Deposit Cash?
Another way to fund your Kraken account is by bank wire or cash. If you are using the Kraken Pro app, you need to go on the “Funding option” and click the deposit button. Find the currency you want to deposit and enter the amount. And last, you need to choose the depositing method and provide the necessary bank account information. The processing time will depend on the country and currency you are depositing, as we mentioned earlier.
How to Deposit Cryptocurrency on Kraken?
In order to deposit any digital asset or crypto to your Kraken account, you must have a verified starter level on Kraken or higher. You also need to be careful only to deposit cryptocurrency Kraken supports and from the supporting exchange as well. Exchanges Kraken supports are:
- Binance,
- BitBay,
- bitFlyer,
- Bithumb,
- Bitmex,
- Bitstamp,
- Bittrex,
- CEX.IO,
- Coinbase,
- Crypto.com,
- Gate.io ,
- Gemini,
- HITBTC,
- Huobi,
- Liquid,
- Luno,
- OKEx,
- Poloniex.
Also, you need to see all the trading pairs that Kraken supports before you make any transactions. In order to deposit crypto to your account, you need to go on the “Funding option,” select the deposit button and search for the crypto you wish to deposit. The next step is to generate the deposit address and copy the provided address to your wallet. Read the provided instruction for each currency and make sure to see if any of the coins need a memo or destination tag. For example, Ripple (XRP) needs a destination tag. Once you paste the address into your wallet and make the payment, you will need to wait for confirmation from Kraken.
Kraken Provides Its Users Multitude of Options in a Reasonable Time Frame
As you can see, there are numerous options to fund your Kraken account, and the most efficient way to do so is by depositing via credit card or with crypto. Just make sure, before you make any transaction, to see how large a fee you will be charged both from Kraken and your bank. Also, another thing to be aware of is to see how many limitations on depositing and withdrawing your account have. Because not all levels on Kraken have the same limits.