Thu. Dec 1st, 2022
Kraken Reviews

Kraken review

Kraken, the most well-known bitcoin trading platform, was established in 2013. In terms of trading volume, it is the fourth-largest digital currency exchange in the world.

Learn more about Kraken.

San Francisco is home to the cryptocurrency exchange Kraken. Its beginnings may be traced back to 2011 when CEO and creator Jesse Powell went to the offices of the cryptocurrency exchange business Mt. Gox. Millions of dollars in customer funds were stolen and lost when Mt. Gox had a serious security breach. Powell was inspired by this experience to develop a client-trusted, well-organized, and safe cryptocurrency investment platform. Kraken was made in 2013, after all.

Over 6 million traders are currently served by the company, and an IPO is planned in the future. Members may simply buy and sell cryptocurrencies using different fiat currencies on the platform’s simple trading platform.

Kraken Reviews
Kraken Reviews

Trading platforms

Kraken Terminal

The Kraken Terminal is a professional graphical and trading interface that is free and available to all clients. Its software is based on the Kraken Cryptowatch premium trading terminal.

The platform offers

  • Order book and depth chart that visualizes market sentiment, i.e., the volume of orders with applications and requests
  • toolbar with market menu, period selection, analysis, and drawing tools
  • A history scroll bar that views the price history of the current asset.
  • The trading form allows users to submit orders from the terminal.
  • A watchlist displaying selected financial markets
  • Dashboards such as volume and MACD
  • Customizable real-time charts

Crypto watch

Kraken’s premium terminal, Cryptowatch, offers real-time data, charts, and investment services for the cryptocurrency market on 25 exchanges, including Binance, Coinbase Pro, Gemini, and Kraken Futures.

Over 4,000 trade markets are covered by real-time data that is obtained via API directly from cryptocurrency exchanges. The basic use of Cryptowatch is free, and credits for the service can be used to purchase additional premium services.

Credits can be purchased for $1 = 100 credits with Bitcoin or a credit card. Each account begins with 250 credits, but users can accumulate more credits by registering and using the referral program.

Free features include:

  • An advanced charting interface that visualizes price movements and analyzes market trends.
  • tools and indicators such as moving averages, MACD, RSI, and Bollinger bands.
  • View trading history, orders, positions, and balances across different exchanges.
  • Trade on multiple exchanges using a single terminal, including mobile devices.
  • Price, volume, and technical analysis alerts
  • Chat box for traders

Premium features include:

  • 24/7 alerts on prices, volumes, technical analysis, and order filling via text messages and emails.
  • The ai plugin fetches market data in Google sheets.
  • Integration with Zapier automates orders and alerts.
  • The WebSocket API for collecting market data

Tokens and coins

With plans to add more coins in the future, the exchange currently supports the trading of over 65 cryptocurrencies and 7 different fiat currencies. Popular cryptocurrencies like Bitcoin, Ethereum, Tether, Ripple, Monero, and Dogecoin are available through Kraken. The following fiat-to-crypto currency pairs are available for trading by users: USD, EUR, CAD, JPY, GBP, CHF, and AUD.

Customers can also trade a range of cryptocurrency futures and indices that follow the market’s general trend. For investors wishing to reduce the risk of a decline in the value of one cryptocurrency, these are good possibilities.

Spreads and commissions

The cryptocurrency market has some of the most affordable costs, according to Kraken. On Kraken Pro, fees run the gamut from 0% to 0.26%. With a taker/maker fee schedule, the broker encourages market liquidity by lowering the charge as your 30-day volume rises.

You pay a charge of 0.9% for stablecoins and 1.5% for currency pairs or any other cryptocurrency on the Kraken exchange. Additionally, traders must pay 0.5% for online banking or 3.75% + €0.25 for card processing. Depending on the method and the nation you reside in, fees may also be applied to other deposits and withdrawals. Prices for funding in cryptocurrencies are typically less expensive.

There are no costs associated with utilizing a futures wallet to transfer money, make bets, hold cash, inactive accounts, or account maintenance on Kraken.

Mobile applications

Kraken provides two independently developed mobile applications for various uses. Previously, futures on Kraken were the third choice. However, it was stopped on January 27, 2022. To trade futures, investors must now do so through the official website.

Deposit and withdrawal methods

Cryptocurrencies and fiat money can both be used for deposits and withdrawals. Bitcoin, Ethereum, Litecoin, Ripple, and Tether are examples of cryptocurrency payment methods. Cryptocurrencies can be purchased at the express, intermediate, or pro level using credit cards. There is a 7-day restriction on transactions for the card of 7,500 euros.

The token affects minimum orders, deposits, and withdrawals as well. On the Kraken website, you may find the most recent lows.

Depositing money into and taking money out of your account is easy after the verification process is finished.

  1. Go to your client cabinet in the “Funding” section, where all limits are displayed.
  2. Select ‘Deposit’ in the relevant fiat or cryptocurrency.
  3. For fiat currencies, select your preferred deposit method and follow bank instructions.
  4. For cryptocurrencies, connect to your e-wallet via “deposit address” and confirm the transaction.
  5. Check your account balance to make sure the funds have been approved.
  6. To withdraw profits, select ‘Withdraw’ on the relevant fiat or crypto account.
  7. For fiat currencies, select a withdrawal method and enter your bank details and amount.
  8. For crypto, enter your details and the crypto address found in your e-wallet.

Regulation and licensing

In every country where it conducts business, including the United States (FinCEN), Canada (FINTRAC), the United Kingdom (FCA), Australia (AUSTRAC), and Japan, Kraken is duly authorized and subject to regulation (FSA).

Users directly hold client funds in their highly regulated bank accounts with Kraken partners. The Wyoming Banking Division has granted Kraken Bank its license.

Kraken Reviews
Kraken Reviews

Customer Service

As previously said, the customer service team is available around-the-clock and can assist you with any problems you run into, like 2FA not working, login problems, or even account deletion. You can email Kraken Support for help if you need it:

  • Live chat-chatbot on the website
  • Email: Submit a request form via the support center.
  • Phone: The official website lists 24-hour phone numbers in English, Spanish, and French.

Kraken advises users to search for an article related to the request in the support center.

The US headquarters of the broker is registered at Payward Ventures, Inc., 237 Kearny Street #102, San Francisco, CA 94108.

Safety

Kraken employs industry-leading security measures and has never been hacked. To ensure that consumers can deposit and withdraw money whenever they need it, 95% of all deposits are kept in cold storage, providing full reserves. Customer data is encrypted at the system and data levels, enabling round-the-clock supervision. Additionally, Kraken offers API keys, 2FA payments, 3D security, SSL encryption, and email withdrawal confirmation.

Conclusion

A wide selection of crypto assets, dependable trading tools, affordable fees, and high user security are all provided by Kraken. Several credible organizations have also granted the exchange licenses and regulations. Even if verification times are sped up, Kraken will still be a top platform for cryptocurrency dealers in 2022.

 

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *