Are there any limitations or restrictions for level 1 verified users on Kraken?

3 answers

• Duran RossenMay 02, 2021 · 4 years ago
  As a level 1 verified user on Kraken, there are a few limitations and restrictions to keep in mind. First, level 1 users have a daily withdrawal limit of $5,000 USD or its equivalent in other cryptocurrencies. This limit can be increased by completing additional verification steps. Second, level 1 users cannot deposit or withdraw fiat currencies, such as USD or EUR. They can only trade cryptocurrencies on the platform. Lastly, level 1 users may have limited access to certain advanced trading features and tools that are available to higher-level verified users. It's important to note that these limitations are in place to ensure the security and compliance of the platform.
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• DaikensNov 02, 2022 · 3 years ago
  Level 1 verified users on Kraken have a daily withdrawal limit of $5,000 USD or its equivalent in other cryptocurrencies. This limit can be increased by upgrading to a higher verification level. Additionally, level 1 users are not able to deposit or withdraw fiat currencies, such as USD or EUR. They can only trade cryptocurrencies on the platform. It's important for level 1 users to understand these limitations and plan their trading activities accordingly.
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• Jinu NohApr 20, 2021 · 4 years ago
  Kraken, one of the leading cryptocurrency exchanges, imposes certain limitations and restrictions on its level 1 verified users. These users have a daily withdrawal limit of $5,000 USD or its equivalent in other cryptocurrencies. However, this limit can be increased by completing additional verification steps. Level 1 users are also restricted from depositing or withdrawing fiat currencies, such as USD or EUR. They can only engage in cryptocurrency trading activities on the platform. It's worth noting that these limitations are in place to ensure the security and compliance of the exchange.
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