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Free Bank Withdrawals Are Live for U.S. Clients

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Consistency and the sheer will to evolve are the qualities demonstrated by Kraken Inc at every moment. In 2013, the Kraken only offered BTC, LTC, and euro trades, but now it has not only added USD, CAD, AUD, GBP, CHF, and JPY to its currency support list. But also, it has announced that it will support free withdrawals to U.S. bank accounts. 

This exciting news divulges that the withdrawals will be possible through the Automated Clearing House (ACH) network.

And this announcement is still available on the company’s blog for November 23. 

In regards to making a free withdrawal, here’s what you need to know.

Making a free withdrawal with Kraken

  1. To use the ACH withdrawals option, you will have to navigate to the Funding section on Kraken’s website.
  2. Once there, select ACH withdrawals as an option when withdrawing U.S. dollars.
  3. Yet, it is important to note is that this method is currently and only available to a specific clique of Kraken’s clients. And they are the Intermediate and Pro clients outside of TXNY, and W.A.
  4. The announcement concluded by encouraging its community users to get verified by clicking Get Verified under your name in the top-right corner of the screen.

But before heading over to the website to make a withdrawal, it is essential to note several things down.

  • The information you get from this article could change without notice as the service is still developing. So, kind log in to Kraken, then navigate to the funding page where you will see the most current information.
  • All first-time cash deposits will result in a temporary (72 hour) withdrawal holdon the account.
  • Cash, checks, credit & debit cards, or third-party payments processorwithdrawals are not possible.
  • Processing times are outside of Kraken’s control as they are only estimates, so delays are very possible.
  • Please be mindful of banking holidays. 
  • If your withdrawal does not arrive within the estimated time frame below, follow these steps.

Kraken’s Successes

The free withdrawal feature isn’t the only thing worth celebrating on Kraken in 2021. As just on the previous day, the company did release a market report that wasn’t looking all that bad.

For November 22, Kraken did have a total spot trading volume of $1.57 billion and a 30-day average that rose to $1.49 billion. Its total futures were at $556.0 million and its top traded coins were Bitcoin (-4.0%), Tether (0%), Ethereum (-4.1%), Polkadot (-6.1%), and USDC (0%) respectively.

Strong returns from The Sandbox (+23%), Curve Dao (+12%), and Mana (+12%) were also recorded.

When looking at the trading volume by asset, the figures below break down the trading volume of the largest, mid-size, and most minor assets. Fiats are in blue, while cryptos are in purple. And both the daily trading volume in USD and the percentage of the total trading volume are demonstrated. Fiat and cryptos percentages come separately so that they can both add up to 100%.

Figure 1: Largest trading assets: trading volume in USD and its percentage of the total trading volume (November 23, 2021)

Figure 2: Mid-size trading assets in USD (November 23, 2021)

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