r/Kraken

Kraken Status

I have previously used Barclays to transfer larger sums of money to Kraken (several £30-£50k transactions within a one month period). Now I can see that Barclays have a £10k monthly limit for crypto.

What would be legitimate options for me to transfer £50-£100k to an exchange or be able to purchase that amount of BTC? This isn’t a purchase I want or need to make imminently. I’m just thinking about potential future purchases. I also need an account that accept large amounts of money from exchanges.

I have considered opening a Revolut account but have read mixed reviews and would be surprised if they let me transfer larger sums as a new user. Also thought about opening a Llyods account but will probably have to call them first. Any other options?

With these restrictions i wander how large transfers of fiat to exchanges are happening in the UK. Someone must be doing it somehow.

1. It needs to be far easier to sell stocks overnight using a stop loss limit and the likes. Using this order type you can’t set it to day+ hours, and good till canceled hours don’t work if you own fractional shares, even if you adjust the sell amount to a whole share amount. It’s absurd to not be able to sell effectively overnight.

2. You should upgrade Kraken Pro’s order system to allow multiple orders to be queued on the same piece of capital(stocks). For example, if I own stock A at 100 dollars, I might want to queue a stop loss limit at 90 dollars and also queue a stop loss limit buy that would take effect only after the first order had been filled. It would also be good to add more options in general for stacked order queues. You could have multiple orders and decide in which order orders would have to be filled in, and whether or not having one fill would cancel others. Having these capabilities would be befitting the Kraken Pro app’s name.

3. A little out there, but it could be useful to have the capability to sell stock A with a stop loss limit order based on stock B’s price. For example, sell stock A with a limit order if stock B falls down to the stop loss price of xyz. Amongst other things, this could especially be useful when dealing with leveraged etf pairs.