If you have a European bank account you save on withdrawal costs by first converting your USD to Euros at Kraken before you make a withdrawal. With a withdrawal from USD to a European account you pay $25 in fee costs. While the fee for a withdrawal from Euros to a European account is only €0.09.

Converting USD to Euros at Kraken works as follows

Login to your Kraken account https://www.kraken.com/

After that, click on “Trade” in the menu


Optional: If the market is not yet on EUR/USD, choose it by clicking on “Market”. You will then see the following screen

Now choose EUR/USD


Now you can buy Euros with USD. You can place a market order for this.

Here is an example of a market order for $100


A market order is usually executed immediately.

Optional: If you want to convert large amounts, it is better to place a limit order. Then you do not run the risk that your order will affect the price, which could result in a potentially unfavorable price.

Here is an example of a limit order for $10,000

A limit order can sometimes take a little longer.

You should now see at the top of the screen that the number of USD has decreased and the number of Euros has increased.