Kraken Crypto Exchange Review
In this post we give a non biased Review of Kraken Crypto Exchange and share details about features, fees and an overview of their site.
Disclaimer: Under NO circumstance should this review be interpreted as a recommendation to trade or an endorsement of a trading platform, supplier or of a specific cryptocurrency.
Last updated on: 7 January 2021
Kraken Crypto Exchange Review – QUICK NAVIGATION
QUICK FACTS – Kraken Crypto Exchange
Type: Trading platform/crypto exchange
Founder: Jesse Powel
Headquarters: San Francisco, California
Kraken Crypto Exchange Review:
Overview of Kraken
Kraken is a renown US crypto exchange, known for its growing volume of pairs and its BTC liquidity.
Founded by Jesse Powell and based out of San Francisco, Kraken is a reputable company and its founder is known for scrutinising the SEC around crypto trading regulations that have been proposed in the US.
Kraken caters for both casual day traders as well as professional. Offering trades of Bitcoin against all major fiat currencies, as well as several alt coins like Litecoin, Ethereum, Dogecoin, Ripple, Namecoin, Stellar, and Ven.
Sign up to Kraken here
Crypto Exchange Bonuses: Sign up bonus
Unfortunately there are no offers or bonuses at the moment on Kraken
Trading on crypto exchange: Kraken
How to place a Trade
To trade cryptocurrency on Kraken you just need to follow the next steps, once you are in your account
- Click the Trade tab
- Click New Order
- Select Cryptowatch
- Identify pairs you wish to trade on and place your order
Fees vary based on volume of your order and the pairs you are trading.
For main trading pairs the fees arebetween 0.1-0.35%
For less popular pairs the fees vary from 0.05% to 0.75%.
If you offer liquidity to the platform your fees will be nul.
Withdrawal on Kraken
Withdrawals and deposits are variable depending on the method – although in general all fees are 0.19% with a $20 minimum. For JPY there is a minimum deposit of 5000 Yen and no transaction fee for deposit – but 20 Yen to withdraw.
User Experience on Kraken
As already explained it is quite easy to get around Kraken with the signup process relatively straightforward. Trading and other parts of the site are also quite easy to maneuver around
Charts are synced with Trading View and rather easy to use. There are dark and light options and these are also customisable. (https://trade.kraken.com/)
Kraken offer the following 20 cryptocurrencies and trading pairs:
Bitcoin (BTC)Bitcoin Cash (BCH)Dash (DASH)Dogecoin (DOGE)Litecoin (LTC)Stellar Lumens (XLM)EOS (EOS)Ethereum Classic (ETC)Ethereum (ETH)Gnosis (GNO)Iconomi (ICN)Melon (MLN)Augur (REP)Tether (USDT)Monero (XMR)Ripple (XRP)Zcash (ZEC)Cardano (ADA)Cosmos (ATOM)Qtum (QTUM)Tezos (XTZ).
Kraken cater for professional traders, who trade over $100K via their OTC services. In such cases they also provide a dedicated account manager.
Another exclusive offering is Kraken’s ‘dark pool’ which is an invisable order book that is kept from the market’s eyes. This offering allows whales to trade large orders anonymously, which is highly appreciated by big crypto investors.
The mobile version is slightly restricted but no less difficult to use.
Security is very high on Kraken. They enforce 2FA/two factor authentication and PGP/GPG encryption.
Kraken is based in San Francisco, California.They offer OTC trading and security is pretty much top notch. The company is privately owned but very open about its values and internal governance when it comes to holding client funds on account.
Support & Social
Kraken’s site is highly intuitive, with several support guidelines, help articles and FAQs sections.
Crypto Exchange: Our Rating of Kraken
Kraken is certainly one of our favourite exchanges. Apart from the volumes traded daily, the on-boarding and low fees make it an excellent exchange to get started on and continue with as you gain more confidence as a crypto trader.
The user interface may be a bit complicated for a complete newbee but the efforts invested at the start to get to know the interface will pay off in the longer term.
Kraken’s strength is its legacy, starting off as a bitcoin exchange this platform has evolved as crypto trading has become more and more mainstream. It has gained a solid reputation throughout the years and doesn’t seem to be going anywhere anytime soon.