Kraken is a cryptocurrency exchange based in San Francisco founded in 2011. People can participate in this crypto exchange and trade using different currencies.
In 2023, it is considered as the world’s third-largest exchange. Kraken has launched a new NFT marketplace supporting over 250 non-fungible tokens across Ethereum, Solana, and Polygon blockchains.
About Kraken NFT
The cryptocurrency exchange Kraken launched its NFT platform in November. In the first beta test, it supported 70 NFT collections on Ethereum and Solana.
In its public launch, it also included blue-chip projects such as Cryptopunks and Bored Ape Yacht Club. it also included more affordable collections that can be brought under $100.
Recently the Kraken NFT marketplace announced that it will not charge any gas fees for customers who buy and sell NFTs through this platform. The platform also uses industry-leading security to protect assets.
The platform also supports multiple blockchains that improve the flexibility and adaptability of transferring cryptocurrencies or other assets. It also eliminated the possibility of a single failure or a disruption of the entire ecosystem.
How To Buy And Sell An NFT On Kraken?
Before you start burning and selling an NFT on Kraken, it is important to note that you have to deposit some funds in your Kraken account. You can fund your account using currencies supported by the platform.
To buy an NFT through this platform, you need to follow the given steps.
- Sign in to your Kraken account and navigate through the NFT tabs.
- Look through the marketplace, you can look up collections, creators, or any NFTs.
- Click on an NFT that you would want to buy by tapping on the Buy Now button.
- You can make an offer if an item is not for sale.
- A small window will appear denoting the price of the NFT and your available balance.
- Press continue to get a view of your purchase summary. The processing time may vary if the NFT is located outside Kraken.
- Press the confirm button to complete the purchase.
- To view your NFTs and to verify them, you can click on My NFTs.
Make An Offer While Buying An NFT
If an NFT is not available, you can make an offer to the seller to purchase the particular item. For this, you can follow the given instructions.
- Sign in to your Kraken account. You can navigate through the NFTs tab.
- You can go through the marketplace and search for the NFT.
- If there is an NFT that you would like to purchase, you can click on Make an Offer.
- A popup window will appear, where you can choose the currency in which you want to make your offer. You can also set an offer expiration time or date.
- Next, click on Continue to view your offer
- Click on confirm to confirm your offer.
To Sell Your NFTs Through Kraken, You Can Follow The Mentioned Steps:
- Sign in to your Kraken account, and navigate to My NFTs.
- Click on the NFT you want to sell and click on the Sell button.
- You can view details to see the potential offers.
- Select the currency in which you want to price the NFT.
- You can enter the price on the Sell for field.
- You can schedule when the sale offer will become available to the public.
- Also, mention when it will expire.
- Click on the Confirm button to complete the creation of the sale offer.
Kraken also provides the latest information about cryptocurrency prices, market cap, and live crypto charts. Users have said that the platform offers reliable data and secures every transaction that takes place through this platform. There is also strict surveillance of every activity taking place over this platform.
Latest technology such as API key permission control and SSL encryption are also inculcated in this platform. Users also get an email confirmation for every transaction.
The maximum deposit on this platform is $100,00 and users can buy, sell, receive, and exchange through this platform. Though the Kraken system is available in the US, some states may face restrictions due to strict trading laws.
Before you make any transactions through any platform, do a lot of research and compare different features with other platforms as well.
