Kraken Question

[Roscoe_Word]

Just registered at Kraken (Wall of Coins is an enigma) as an insurance policy should Coinbase and Circle get ban-happy.

Currently waiting for "tier-1" approval.

Should such approval be granted, would the following dynamic be viable?

from BANK (via debit)>KRAKEN>BLOCKCHAIN>Sportsbook

Thanks.

[Optional]

I have not heard of Kraken banning anyone. Their terms specify only 'illegal gambling' is banned. Not gambling altogether.

But probably safer to use a route like this that avoids direct transfers from or to books.

[Roscoe_Word]

I have not heard of Kraken banning anyone. Their terms specify only 'illegal gambling' is banned. Not gambling altogether.

But probably safer to use a route like this that avoids direct transfers from or to books.

Thanks much for the response, brother. Kraken markedly more difficult to use than the big 2 (Coinbase and Circle). The "enter your banking info section" is hard to find. Will give it a go again today. Thanks again!

[Buffalo Nickle]

Thanks much for the response, brother. Kraken markedly more difficult to use than the big 2 (Coinbase and Circle). The "enter your banking info section" is hard to find. Will give it a go again today. Thanks again!

I have hardly looked at Kraken but it looks like you have to wire them. If you are able to add bank info, please update the thread as that would be valuable info.

[Roscoe_Word]

I have hardly looked at Kraken but it looks like you have to wire them. If you are able to add bank info, please update the thread as that would be valuable info.

Will do, brother.

[LT Profits]

Just make one trade every time to transfer into Kraken. Then you should have little worries transferring from Kraken to Coinbase/Circle as you now have your built-in excuse if they ask: you are a trader.

[LT Profits]

Just make one trade every time to transfer into Kraken. Then you should have little worries transferring from Kraken to Coinbase/Circle as you now have your built-in excuse if they ask: you are a trader.

When I said if THEY ask, I meant Coinbase/Circle.

[Roscoe_Word]

Kraken Update.

Realized today that to be able to fund your Kraken account you must be "tier 3" verified.

The funding method does indeed appear to be via SynapsePay (U.S. Wire)

That could be a deterrent to any forum members who are used to the ease of Coinbase\Circle "debit card" funding.

Also, to get "tier 3" status one must fork over one's social security number. (Probably not a problem to most because we have previously done so with the Big 2 ...Coinbase\Circle)

Things get a little personal as the process continues as "job occupation" is required. Sports bettor is not an option (not that we would submit that) and "retired" isn't either.

An ID upload is required (no problem, can't be a pdf file), and the ID must have an expiration date. (I have a MASS ID with no expiration date)

All in all, this could be a valuable 3rd option to The Big 2 (Coinbase/Circle), but for some it might not be worth it.

For me, a forum member's previous statement: "Alternate between The Big 2 and try to keep the number of transaction to a minimum" (paraphrase) is the most efficient way to go.

Thanks much for forum input!

[LT Profits]

Kraken Update.

Realized today that to be able to fund your Kraken account you must be "tier 3" verified.

That is only if you deposit currency. You only need to be tier 1 or tier 2 (I forget which but did not need to give much personal info) to deposit via bitcoin, which is all I do.

[Roscoe_Word]

That is only if you deposit currency. You only need to be tier 1 or tier 2 (I forget which but did not need to give much personal info) to deposit via bitcoin, which is all I do.

[LT Profits]

• Tier 0 - you can look around but you can't deposit, withdraw or make any trades. You are required to provide your email address.
• Tier 1 - you can deposit and withdraw in digital currency only. Trading, however, is enabled in digital as well as fiat currencies. You are required to provide your full name, date of birth, country and phone number.
• Tier 2 - you can deposit, withdraw and trade in digital currency, and depending on your country of residence, fiat currency funding may be accessible to you. Bank deposits and withdrawals are available to clients in some areas at this tier and higher. You are required to provide your address.
• Tier 3 - fiat currency funding is available to Tier 3 clients and funding limits are much higher than Tier 2. You are required to upload a valid Government ID and a recent proof of residence (can be uploaded under 'Get Verified' tab of your Kraken account).
• Tier 4 - like Tier 3 but with even higher funding limits. There are both individual and corporate Tier 4 accounts. The required documents for Tier 4 individual accounts include a signed application form and KYC documents. The required documents for Tier 4 corporate accounts include a signed application form, a trade register extract, a certificate of incorporation, bylaws, an organizational chart, a written AML policy (if applicable) and KYC documents for Ultimate Beneficial Owners (UBOs).

I am Tier 1, that is all I need. Always deposit/withdraw via BTC. Deposit coins, first SELL all coins (after which you have cash), use all the cash to re-buy coins (99% chance new coins won't be associated with your name), make BTC withdrawal from Kraken to Coinbase/Circle.

[Roscoe_Word]

• Tier 0 - you can look around but you can't deposit, withdraw or make any trades. You are required to provide your email address.
• Tier 1 - you can deposit and withdraw in digital currency only. Trading, however, is enabled in digital as well as fiat currencies. You are required to provide your full name, date of birth, country and phone number.
• Tier 2 - you can deposit, withdraw and trade in digital currency, and depending on your country of residence, fiat currency funding may be accessible to you. Bank deposits and withdrawals are available to clients in some areas at this tier and higher. You are required to provide your address.
• Tier 3 - fiat currency funding is available to Tier 3 clients and funding limits are much higher than Tier 2. You are required to upload a valid Government ID and a recent proof of residence (can be uploaded under 'Get Verified' tab of your Kraken account).
• Tier 4 - like Tier 3 but with even higher funding limits. There are both individual and corporate Tier 4 accounts. The required documents for Tier 4 individual accounts include a signed application form and KYC documents. The required documents for Tier 4 corporate accounts include a signed application form, a trade register extract, a certificate of incorporation, bylaws, an organizational chart, a written AML policy (if applicable) and KYC documents for Ultimate Beneficial Owners (UBOs).

I am Tier 1, that is all I need. Always deposit/withdraw via BTC. Deposit coins, first SELL all coins (after which you have cash), use all the cash to re-buy coins (99% chance new coins won't be associated with your name), make BTC withdrawal from Kraken to Coinbase/Circle.

Excellent! I understand the flow, now. This is good stuff to know and I appreciate the input. Thanks.

[deadpool]

I know I am a dumb American but Kraken seems so hard to understand

[Roscoe_Word]

Just an update on the "going through Kraken" procedure.

Despite a few mis-clicks and confusion, I managed to fund a sportsbook via the following route:

Bank > Circle > Kraken (converted BTC to cash, then back to BTC) > Blockchain > SportsBook

In a week or so (for what its worth) I'll post on the reverse procedure.

I guess the gist of the thing is that an extra step (for some) might not be a bad thing if it decreases one's probability of a "Circle Ban".

Many thanks to LTP (posts 9 and 11) for the help.

[rockmvp1209]

Circle>Krakken> Yugoslavian coalminer> refund from coal miner> uganda charity donation> cancel donation> btc mixer> blockchain #1> blockchain#2> sportsbook

[LT Profits]

Just an update on the "going through Kraken" procedure.

Despite a few mis-clicks and confusion, I managed to fund a sportsbook via the following route:

Bank > Circle > Kraken (converted BTC to cash, then back to BTC) > Blockchain > SportsBook

In a week or so (for what its worth) I'll post on the reverse procedure.

I guess the gist of the thing is that an extra step (for some) might not be a bad thing if it decreases one's probability of a "Circle Ban".

Many thanks to LTP (posts 9 and 11) for the help.

Perfect flow. And I assume getting Teir-1 verified was a snap.

[LT Profits]

For those wondering why the trade at Kraken was necessary even going out to Blockchain, it is because you MUST make at least one trade before Kraken allows you to transfer out. You cannot just park and transfer.

[Roscoe_Word]

For those wondering why the trade at Kraken was necessary even going out to Blockchain, it is because you MUST make at least one trade before Kraken allows you to transfer out. You cannot just park and transfer.