XBT/Currency trading on Kraken

[andcface]

Has anyone ever used the currency functions on kraken? do they trade xbt/usd and convert into the other currency (eg EUR, GBP) or if you trade at market are you going to get off market fills?

[Wei H]

No, they trade on xbt/usd, they stay on xbt/usd.

I exchanged some XBT to legal currency on Kraken everything went smoothly, but it seems that there is a limitation on your legal currency withdrawal.

[BitHodler]

If you trade XBT/USD for example, then you can use the BTC you buy to jump into EUR or GBP trading if you sell a certain part of your BTC to the given currencies.

That's the easiest way of having the possibility of trading with various currencies without much hassle. I however don't see the added benefit of this though.

Kraken's main traded fiat pair is XBT/EUR. If you look at the USD and GBP volumes, then they are not that impressive. Especially when you look at the GBP volume. It's peanuts.