Your machine can connect to an exchange so that cryptocurrency is automatically repurchased at market rates with each transaction at your machine. In this way, price volatility is avoided and your inventory is replenished.
First, sign up for a Kraken account: kraken.com/sign-up
Then, verify your account in order to deposit and withdraw funds: kraken.com/u/verify
Note: Kraken requires a Pro Corporate account of its customers who are reselling cryptocurrencies. Please reach out to Lamassu support to be put in contact with one of Kraken's dedicated account representatives who are available to help you upgrade to a Pro Corporate account.
Once verified, deposit fiat funds to your account balance:
- If your machine uses EUR, deposit to Kraken's EUR balance.
- If the machine uses USD, deposit to Kraken's USD balance.
- For all other machine currencies, deposit funds on EUR.
Create an API key
On Kraken's site, hover over your user icon, click Security, then API: kraken.com/u/security/api
Click 'Add Key':
Check the boxes of the Key Permissions shown below, leaving the other settings as they are, then click Generate Key:
Copy down the full API Key and Private Key shown.
Configuring in your admin
Open the 'Third Party Services > Kraken' panel in your Lamassu admin.
Paste the API Key and Private Key credentials, clicking Submit:
Then navigate to the 'Global Settings > Wallet Settings' panel.
Select Kraken from the Exchange and Ticker drop-down list under the tab for each currency that you'd like to enable trading for:
Test trades by placing purchases at the machine and ensure fiat is converted into the relevant cryptocurrency in your Kraken balances.
Purchases will need to be above Kraken's trade minimums in order to be executed.
Setting Kraken to trade on other currency markets
As indicated above, if your admin is set to use another fiat currency than EUR or USD, then the module defaults to trading on Kraken's EUR market.
If you would prefer instead to trade on their GBP or CAD markets (which are limited to only BTC and ETH), or to default instead to the USD market (available for all cryptocurrencies), follow this article to do so.