Cryptocurrency exchange Kraken is launching support for deposits in euros and pounds via PayPal for its clients in Europe.
The exchange's users in the UK and Europe (excluding Hungary and Croatia) can now easily and quickly fund their accounts in euros and pounds via Kraken's mobile app.
The decision is in line with the exchange's strategic plan to provide a seamless cryptocurrency trading experience. In addition, the expansion of PayPal deposit support is in conformity with Kraken's intentions to improve its platform, according to Coincu.
These improvements aim to modernize the user interface and make trading on Kraken more intuitive and efficient.
The main feature and advantage of depositing funds via PayPal is the very fast processing of the transaction, which allows users to access the deposited funds immediately.
It should be noted that in order to use the service, a Kraken user account must be verified at the Intermediate or Pro level. Also, the user must have a PayPal account with the same name as the Kraken account.
The exchange also notes that the amount of the fee depends on the user's region and will be displayed on the final confirmation page.
The PayPal deposit support reflects Kraken's policy to expand its user base of cryptocurrency traders and investors. By offering more deposit options and improving the functionality of its platform, the exchange allows its clients to interact with the cryptocurrency market with confidence.
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