HOW-TO Buy Or Sell ICN On Kraken Exchange

This blog post has been updated and modified on May 30, 2017. For the most up-to-date information about 2FA and other platform activities please check our Knowledge base.

Sending tokens from your ICONOMI ICO account

This guide assumes that you have a fully working (and verified) account at the KRAKEN exchange (https://www.kraken.com)

1. Login into the Kraken exchange.

2. Click on the Funding tab, and select Iconomi (ICN) from the menu on the left.

3. If this is your first ICN deposit, you have to create a new address for it. Click Generate New Address.

4. Address will appear. Select and copy it (or press the Select button on the right and copy it).

5. Log into your ICONOMI account and select Withdraw from the top menu.

6. Select Iconomi if you wish to withdraw ICN.

7. Enter the amount of ICN you wish to transfer. Continue by copying the ICN deposit address you have received from the Kraken exchange and paste it into the ‘Recipient address’ window. Finally, click Preview to double check the transaction information.

IMPORTANT: We suggest you always transfer a small sum first to try out the transfer process!

8. To initiate a withdrawal, you must go through our 2-step security measures:

  1. Enter your 2FA security code (the 6-digit code from the Authentication app or SMS),
  2. Check your email and click on the link that has been sent to you.

Once you complete these two steps, the transaction status will change from “Pending” to “Completed”.

You can always check the status of your transaction in the Activity section.

9. Click the Trading Pair selection button and select either ICN/Ethereum or ICN/Bitcoin pair (under ICN).

10. Click New Order

11. Select whether you want to BUY or SELL the pair. Always select a Limit order, as this will allow you to enter the price you want. In this example we will buy 50000 ICN at the exchange rate 0.0003 XBT (Bitcoin). To confirm the trade, click the big Buy ICN with XBT button.

12. The confirmation screen will appear. As before, check that this is indeed the transaction you want to make, and if yes, click Submit Order.

13. Your order will now become active. Once the exchange finds a match for it, it will execute.

14. To see a list of your orders, click Orders (or View Orders, if you have just completed an order). From the order list you can cancel your active orders (red X icon).

I suggest that you click on CHARTS but open it in new window/tab. This way, you can look at recent trades, spread and market depth for any trading pair.



Sending tokens from your Ethereum Wallet wallet

This guide assumes that you have a fully working (and verified) account at the KRAKEN exchange (https://www.kraken.com)

1. Login into the Kraken exchange.

2. Click on the Funding tab, and select Iconomi (ICN) from the menu on the left.

3. If this is your first ICN deposit, you have to create a new address for it. Click Generate New Address.

4. Address will appear. Select and copy it (or press the Select button on the right and copy it).

5. Switch from your browser, to your Ethereum Wallet (we will continue this guide assuming the use of Ethereum Wallet/Mist — but you can use any wallet that supports ICN apptokens).

6. Under your account, click Send (or the big Send icon)

7. Select ICONOMI apptokens first (see the yellow arrow), then paste the ICN deposit address you copied from the exchange; continue by entering the amount of ICN that you wish to transfer. Finally click the SEND button below this.

Please note that you must have some ETH in your account, as every outgoing transaction costs a certain amount of gas (payable in ETH). The typical transaction cost will be well below 0.1 ETH.

8. Enter your account password, and click SEND TRANSACTION.

9. Switch back to your browser where you are logged into the Kraken exchange. It will take 30 confirmations (blocks) for Kraken to display your ICN tokens under your account. Continue when you see your ICN balance.

10. Click the Trading Pair selection button and select either ICN/Ethereum or ICN/Bitcoin pair (under ICN).

11. Click New Order

12. Select whether you want to BUY or SELL the pair. Always select a Limit order, as this will allow you to enter the price you want. In this example we will buy 50000 ICN at the exchange rate 0.0003 XBT (Bitcoin). To confirm the trade, click the big Buy ICN with XBT button.

13. The confirmation screen will appear. As before, check that this is indeed the transaction you want to make, and if yes, click Submit Order.

14. Your order will now become active. Once the exchange finds a match for it, it will execute.

15. To see a list of your orders, click Orders (or View Orders, if you have just completed an order). From the order list you can cancel your active orders (red X icon).

I suggest that you click on CHARTS but open it in new window/tab. This way, you can look at recent trades, spread and market depth for any trading pair.