The popularity of cryptocurrencies in the modern world resulted in a growing interest in trading and investing, which can be safely done on legal platforms. We regularly keep checking different platforms that can be used for trading options. Today, in this article, we are going to write what we found about Kraken.
Kraken is a SAN Francisco-based us exchange and is one of the oldest cryptocurrencies. Exchanges in the ecosystem having been founded in 2013 Kraken operates as a Fiat gateway exchange for traders from a number of different countries so, for example, they offer trading in US dollars, Canadian dollars, euros British pounds, and Japanese yen. If we look at their crypto assets we can see that Kraken has quite a selection for a Fiat gateway of this size with almost 17 listed crypto Fiat pairs in terms of security.
Kraken Track Record over the Years
Kraken has an impressive track record with no hacks or breaches in their six-year history and this comes down to their pretty extensive security protocol which uses cold wallets and armed guards that watch over locked servers. Kraken operates that maker takes a free module this means that they will charge you a different fee based on whether you are adding to or taking liquidity off their books these fees are also dynamic. It will be adjusted based on your previous 30 days trading volume as a rough indication of these fees they range from 0.04 percent to 0.26 percent this makes Kraken quite attractive when compared to other exchanges moving on to accounts.
Kraken operates different account tiers differ according to the amount of personal verification. You have completed so for example till 0 is a simple account with no trading functionality and which you can use anonymously whilst at the other end of the spectrum. Now you have tiers 3 & 4 which require full identification these provide you with leveraged trading and full Fiat funding functionality customer support at Dragon is pretty standard for an exchange of this size they have a responsive support desk on the platform and are active on their social media channels
Kraken vs Coinbase
Before we jump into the trading platform we must know some facts about Kraken vs coinbase. We received plenty of complaints in the past about its clunky trading engine and the numerous bugs that users have had to contend with however, they have recently upgraded the platform with a more advanced order matching engine the user interface has become more advanced and has numerous order execution options.
What does Kraken offer?
Kraken also offers margin trading which means that you can trade crypto is leveraged on the exchange these are relatively mild levels of leverage so don’t get too excited though for the developers amongst you. Kraken has a pretty robust API that can be used to code BOTS and trading algorithms.
Unfortunately, there’s no mobile app so for those of you on the go you’ll just have to use the browser on your phone or perhaps just an old-fashioned laptop so in conclusion, then Kraken remains a well-respected exchange in the community while the platform has had its ups and downs this is more than made up for by a strong security track record and large coin selection