kraken

Kraken Review

Kraken is one of the oldest Bitcoin exchanges and supports more than 120 different coins to buy, sell, and trade with competitive exchange fees. It’s notable for supporting both spot trading at current market rates and cryptocurrency futures. Kraken is a good choice for new and existing cryptocurrency investors and traders looking for low trading fees and access to a wide array of coins.

Kraken is a crypto exchange for everyone. As one of the largest and oldest Bitcoin exchanges in the world, Kraken is consistently named one of the best places to buy and sell crypto online, thanks to our excellent service, low fees, versatile funding options and rigorous security standards — but this is only part of the story. We’ve been on the forefront of the blockchain revolution since 2011.

Kraken has a comprehensive variety of trading options. It lets you:

  • Buy and sell bitcoin and altcoins using six fiat currencies (USD, EUR, GBP, JPY, CHF, CAD).
  • Perform crypto-to-crypto trades.
  • Perform Forex trades with supported fiat currencies.
  • Place invisible orders in the dark pool.
  • Margin trade with up to 5x leverage.
  • Earn crypto using Kraken’s best-in-class staking service.

Cryptocurrencies Available on Kraken

Kraken supports over 110 cryptocurrencies, including popular ones such as:  

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Ripple (XRP)
  • Stellar Lumens (XLM)
  • Solana (SOL)
  • Sushi (SUSHI)
  • Uniswap (UNI)

Kraken also supports a handful of stablecoins including Tether, USD Coin, and Dai.

Kraken Pro

Kraken Pro is an active trading platform that works through your web browser or smartphone. While the interface may be intimidating to crypto and trading newbies, it could be worth learning. It includes more detailed asset information including active charts and a view into open orders.

Kraken Pro Pricing

Kraken Pro offers much lower pricing than the main Kraken platform. Pricing is based on your total trading volume over the last 30 days. Most trades are subject to either a 0.26% taker fee or 0.16% maker fee.

30- Day Volume (USD)Maker Taker 
$0 – $50,0000.16%0.26%
$50,001 – $100,0000.14% 0.24% 
$100,001 – $250,0000.12% 0.22% 
$250,001 – $500,000 0.10% 0.20% 
$500,001 – $1,000,000 0.08% 0.18% 
$1,000,001 – $2,500,000 0.06% 0.16% 
$2,500,001 – $5,000,000 0.04% 0.14% 
$5,000,001 – $10,000,000 0.02% 0.12% 
$10,000,000+ 0.00% 0.10% 

Deposit and Withdrawal Methods

Kraken supports a variety of deposit and withdrawal methods. These include cryptocurrency deposits and fiat deposits via bank transfer. There are no credit or debit card deposit options for instant crypto purchases.

The supported fiat deposit and withdrawal bank transfer options include:

  • FewWire / FewWire (Etana Custody) (1 – 5 business days)
  • SWIFT (2 – 5 business days)
  • Silvergate Exchange Network (near-instant)
  • SEPA / SEPA (Etana Custody / Fidor / Bank Frick) (0 – 5 days)
  • Canadian domestic wire transfer (1 – 3 days)
  • In-person cash/debit via Canada post (30 – 60 minutes)
  • InterFIn (0 – 10 min)
  • FPS/BACS (Clear Junction) (0 – 3 days)
  • CHAPS (Same day)
  • SIC (near instant on working days during business hours)

The fees range from free to up to USD 50 or its equivalent based on the chosen method.

Security

Your Kraken account should be safe from cybercriminals looking to drain your balances if you follow good online security practices. Once an account is funded, it’s extremely wise to add two-factor authentication. You can create different two-factor codes for sign-in, account withdrawals, and trades. There’s also a feature to lock your account from any changes if you’re concerned that your account was breached.

  • Transferring new deposits directly to offline cold wallets, which are physically isolated from any online system.
  • Storing the vast bulk of coins in cold wallets, with only the coins required to maintain Kraken’s liquidity being kept in online hot wallets.
  • Storing a small number of coins in semi-cold wallets, which are kept on defended machines with locked drives.
  • Encrypting all wallets and data in data centers.

Bottom Line

Kraken is a 100% legit cryptocurrency exchange for both beginners and serious traders. Its vast selection of features, low fees, clear user interface, and liquidity is definitely an attraction.

Similar Posts

Leave a Reply

Your email address will not be published.