¶ Kraken
PRIOR to attempting to connect your Kraken Margin account to your AstraBit Nexus account via API, please ensure the following:
You are Eligible for a spot margin trading account via https://support.kraken.com/hc/en-us/articles/360061972272-Margin-trading-and-Eligible-Contract-Participant-ECP-self-certification-for-U-S-clients
For U.S. clients to be eligible for margin trading on Kraken, they will need to self-certify as an Eligible Contract Participant (ECP) as defined under U.S. law (Section 1a(18) of the Commodity Exchange Act).
U.S. clients who do not have Intermediate or Pro accounts will first need to get verified to at least the Intermediate level before having the opportunity to self-certify as an ECP. All new U.S. Intermediate or Pro clients and all existing U.S. Intermediate or Pro clients who have not previously traded margin will be asked to self-certify as to their ECP status the first time they do a margin trade. If you have previously self-certified and your ECP status has changed or if you made an error in the self-certification process, please contact Support.
Two key ways to qualify as an ECP under this definition are:
For individual clients -- You are required to have more than $10 million in assets invested on a discretionary basis. In general, this means assets (for example, cryptocurrencies, stocks, bonds, mutual funds, real estate investments, cash held for investment purposes) for which you make the decision to trade or invest, as opposed to assets that another person trades or invests on your behalf. The $10 million in assets do not include your personal residence or other assets you own that are not part of your trading or investment portfolio.
For institutional clients -- The institution you represent must have more than $10 million in total assets. This test focuses on gross assets, as opposed to net assets (assets minus liabilities). If you represent an institution and the institution doesn’t qualify as an ECP under the $10 million in total assets test, your institution may qualify as an ECP under one of the other categories of the ECP definition. Please review the categories and contact Kraken support if the institution you represent qualifies for at least one of them
You have a MINIMUM balance of at least 50-100 USD in your Kraken Spot Margin wallet or roughly the equivalent of $50-$100 worth of the currency you intend to trade through your AstraBit Bot (e.g. XBT, ETH, XRP, etc.)
Please Log in to your Kraken Account to begin creating your Astrabit API
Congratulations you have successfully added an Exchange on Astrabit. If you have any issues please send us an email at support@astrabit.io or create a ticket on our Astrabit Discord.
Happy Trading!!