Articles in this section

Kraken trading

Follow

Kraken_logo.png

 

Your machine can connect to an exchange so that bitcoin is automatically purchased at market rates with each bill that's inserted. In this way the price volatility of bitcoin is mitigated.

Signup

First, sign up for a Kraken account: https://www.kraken.com/en-us/signup

Then, verify your account in order to deposit and withdraw funds: https://www.kraken.com/u/verify

Once verified, deposit fiat funds to your account balance:

  • If your machine uses EUR, deposit funds 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

Under settings, and API, create a new key: https://www.kraken.com/u/settings/api

Assign it the following permissions:

Kraken_API_1.png

Copy down the API Key and Private Key shown.

Kraken_API_2.png

 

Configuring in your admin

Open the 'Third Party Services > Kraken' panel in your Lamassu admin. Input the API Key and Private Key credentials, clicking Submit:

Kraken_panel.png

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:

Wallet_Settings_-_Kraken.png

 

Testing

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 USD or CAD balance

The module defaults to trading on Kraken's EUR Market if your machine uses a currency other than EUR or USD.

If your machine is configured for a currency other than EUR or USD, and you wish to trade on USD instead, you may change the default behaviour by running the commands below in your server:

curl -Ss https://raw.githubusercontent.com/LamassuSupport/lamascripts/master/switches/kraken/kraken-usd.sh | bash

Then, ensure you have a balance in the USD account and place a test transaction that is above Kraken's minimum purchase amounts.

 

If your machine is configured for CAD, and you wish to trade on CAD instead, you may change the default behaviour by running the commands below in your server:

curl -Ss https://raw.githubusercontent.com/LamassuSupport/lamascripts/master/switches/kraken/kraken-cad.sh | bash

Then, ensure you have a balance in the CAD account and place a test transaction that is above Kraken's minimum purchase amounts.

Related articles

Comments

0 comments

Article is closed for comments.