About Kraken Exchange
Kraken is a US based cryptocurrency exchange founded by Jesse Powell in 2011 that provides all the trading features you would expect of a modern cryptocurrency exchange, it remains one of the best – known and better secured exchanges for bitcoin and other cryptocurrencies. Previously scorned as a platform of instability, the site has revamped its services with a focus on security and customer support.
Also, Kraken offers one of the lowest trading fees around, with an average of just $ 1.00 per coin and a maximum trading fee of only $ 0.05. In a nutshell, Kraken is the world’s largest and most popular cryptocurrency exchange with over 1.5 million users. It’s also the largest cryptocurrency trading platform in the United States with more than 1 million members.
Trading On Kraken
Kraken provides its customers with an advanced trading platform, including spot and margin trading for more experienced users. Kraken provides their customers with a range of options for advanced traders on an “advanced trading” platform which includes spot or margin Trading for the more experience users, as well as a number of other options. It doesn’t be something to consider if you’re new to cryptocurrency, but it offers plenty of options and it’s easy to use. Over – the – Counter ( OTC ) services, Kraken offers 1-to-1 services on the Bitcoin exchange, as well as other cryptocurrencies such as Cardano, Bitcoin Cash, and Ethereum. Additionally, common and high – volume traders can get a dedicated account manager to take care of your account management and buying needs.
Payment Methods and Trading Fees
Deposits and withdrawals, in almost all cases, can be expected to take 1 – 5 business days, and in some cases longer. By comparison, in my experience, the average deposit takes as little as 24 hours, while withdrawals take as long as 3 – 5 days.
Deposit is free, but in a few cases there is a small address setup fee, which is a bit more than $ 1.00 per month for most accepted cryptocurrencies. SEPA deposits are free, which makes Kraken especially convenient when you’re outside of the European Union, or when your venue is on the list of the SEPA different countries, but you are within the EU. A bank wire transfer from the United States costs $ 5 to $ 10, while a bank transfer to the European Union costs between $ 1 and $ 2.
Kraken’s fees are the lowest of the major bitcoin exchanges, and they’re also lower than the average bitcoin exchange fees in the United States. They base their fee on a maker – taker basis in general, but also on the price of the currency and the number of users on their platform. A maker who adds a limit order to the exchange will be paid in the form of a fee while the taker fulfills an existing order.
Service & Kraken Support
Its website features an extensive support guide covering everything from verifying accounts to trading, with a detailed description of the exchange’s features, as well as a list of its services. In most cases, you’ll find the information you’re looking for there, such as the price, the market cap, and the current market price of your coins. If you need support, you can submit a support ticket or talk to a live rep via the built – in chat or chat app.
Conclusion – Is Kraken Safe?
The general consensus online is that Kraken’s main strengths lie in the fact that it’s a very secure and secure exchange with a strong security and privacy policy. Kraken certainly has its advantages, but it also has had its share of criticism, as it has received poor grades from TrustPilot. Overall, it seems like since the website was revamped not long back the level of support and platform stability has improved significantly.
As a cryptocurrency exchange, it’s probably not the best option for beginners, especially with its lack of support for other cryptocurrencies. The veteran Bitcoin exchange has built a formidable reputation over the years and seems to have nowhere to go in the foreseeable future. Kraken has been used by many of the world’s largest Bitcoin exchanges, such as Bitfinex, Bitstamp, and Coinbase.