Kraken Review

Kraken Review

This US-based crypto exchange platform is providing its services to the customers worldwide. With reasonable fees and an extensive list of offered support and on-site assistance, Kraken stands out among its alternatives. Crypto trading and exchanging has never been that easy! Read on to learn more and discover this platform’s full potential!

Pros & cons

Pros

  • Ensured safety
  • Fiat currency options
  • Lower fees
  • Great range of cryptos
  • Support and useful info on the site
  • High liquidity

Cons

  • Unfavorable UI

Company overview

Year Founded 2011, Payward Inc. Official Website kraken.com Cryptocurrencies Available Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and others Customer Support support.kraken.com

Kraken was established by Payward Inc. and is located in the US. Being one of the first pioneers in crypto trading and exchange, it has undergone many changes and modifications to become one of the most preferred platforms. Since it caters mainly to the American audience, it complies with all American regulations. However, don’t forget that Kraken is legitimate in the following countries like Japan, the EU, and Canada.

Besides being a crypto exchange platform, Kraken also offers OTC, futures contracts, and margin trading. Another interesting aspect of Kraken is a feature of a the site. But, when fiat currencies are taken into account, all the processes are done according to the currency you’re using.

Cryptocurrency conversions

Crypto to crypto conversion fees are appealing. On the the fee schedule page, you may check your coin and how much it’ll cost you, as fees vary from one coin to another.

Withdrawal & deposit fees and times

When depositing, you better know some methods are free and can be completed instantly. However, some methods may include deposit fees. For deposit fees and times, look at the following table:

Fiat currency A range of fees Time of deposit USD Free and up to $25 Up to 5 days EUR Free and up to 3 EUR Up to 5 days CAD Free and up to 3 CAD Up to 5 days AUD Free Up to 2 days GBP Free and up to 21 GBP Up to 5 days CHF 0.75 CHF Up to 5 days JPY Free Up to 5 days

Withdrawals also depend on the methods you employ. Some may be done instantly, but generally, it may take some time to withdraw your money.

Fiat currency A range of fees Time of deposit USD From $4 to $40 Up to 5 days EUR From 0.09 to 35 EUR Up to 5 days CAD From 0.25% to 35 CAD Up to 5 days AUD Free Up to 2 days GBP From 1.95 GBP to 35 GBP Up to 5 days CHF 1 CHF Up to 5 days JPY $35 equivalent Up to 5 days

Security

Kraken is great in terms of security and takes it as a main priority to protect your assets online. Thanks to modern technology, all your credentials are under protection with SSL encryption.

Also, to ensure your safety, the site employs 2FA authenticator and email confirmations for withdrawals. So, besides mentioned, with Kraken security features, you’ll get the following:

  • Coin storages: almost 95% of the deposits are stored offline to protect the data and your assets.
  • Platform online security: 24/7 surveillance conducted by the guards and video monitors allows high-security levels.
  • Information security: all your personal and financial data are saved and encrypted to ensure safety from being shared with others.
  • Penetration tests: a team of experts dedicate their time to testing Kraken’s system through imaginable attacks to check the security protocols.

How to create an account?

On the homepage, you need to click on Sign Up, and you’ll see a smaller box. Here, you’ll have to fill in your email, username, and password. Then, it’s advisable to read the Terms of Service and Privacy policy through the links. Then, check on agreeing with all terms.

Email sent to you will have an activation code and link for activating your account. Upon clicking that link, you’ll be redirected to the site, and here you’ll have to copy and paste the code, username, password, and pass through CAPTCHA. There’s no need to create an account with KYC or AML, but this will lower your limits.

Verification tiers

Tiers, or levels, of verification are determined according to how you prove your identity. The levels from 0 to 2 don’t require much for proof. For 0 level, you may just look through the site but can’t start trading. From tier 1, trading is possible, and for this level, you need to enter the name, birthdate, location, and phone number. The limit will be lower for this tier.

To get more limits, you need to upgrade your account to tier 2, where you need to give information about your address, country, city, and postal code. Here, your transaction activities become more flexible. But what about tier 3 and 4? Are they required for users?

If you’re a resident of Germany, Japan, US, or Canada, it means you may go to tier 3. Here, you need to provide your ID and proof of your address. Yet, to use tier 4, you must be a rich, high-value trader.

Kraken alternatives

Crypto users are presented with 2 other variants of alike exchange platforms, Coinbase and eToro. Coinbase looks similar in the functioning and some features. Yet, Kraken has margin trading along with OTC for advanced users. If you plan on more than exchange and trading, then eToro might be more preferable. Also, eToro has come up with a social trading concept that enables those who are new to cryptos to learn from others’ trading strategies and copy trading approaches.

Conclusion

What are your expectations from a crypto exchange platform? First of all, it’s all about being safe and legit. Then, it should offer great and affordable fees and options. Finally, it shouldn’t be confusing at all. The good news is that there’s such an exchange known as Kraken, a monster among exchange platforms. So, if you’re planning something about your coins, you know where to start from. Don’t wait and hop on this profit train!

Kraken Review
Crypto Soft Review — Tracking Your Crypto Activities Effortlessly
A new revolution has occurred in the realm of crypto trading. Gone are the days where you’ll spend endless hours on the screen to monitor and predict price...
Bitcoin Pro Trading Bot Review: The Best Crypto Trading Platform In 2021
Given the recent volatility of cryptos owing to recent events, you may wonder how to find one of the best Bitcoin trading software in 2021. Bitcoin Pro...
Bitcoin Loophole As A Trading And Investment Software In 2021
It’s a new year and every rational person is seeking ways to expand their income base. This piece intends to present to you all relevant information regarding...
Bitcoin Freedom Review — A Search And Filter Crypto Trading Site
Choosing cryptocurrency as an investment venture to make extra income can be a stressful endeavor. This stems from how complex the tracking of currency...
Immediate Edge Review: A Smart Approach To Money Making
Since the emergence of Bitcoin, its price has fluctuated substantially, making some people rich and others regretful. Thanks to market sentiments that are...
Bitcoin UP Review
Cryptocurrency trading has always spiked enough interest for many people to invest in the industry. However, if not so long ago, such an investment required...
The Spy News Review
Many wish to earn passive income through trading cryptocurrencies but are put off by the highly volatile nature of the crypto market. By building a trading...
Profit BTC Review
Many of you may have been thinking about saving up for the future, but your current financial state leaves much to be desired. You push the thought of investment...
BTC System Review
When Bitcoin first appeared, it was hard to believe that this digital money would change the world of trading and investing. Now, crypto trading is one...
Bitcoin Cycle Review
The crypto market is gaining increased popularity recently. More and more people who’ve been dreaming about passive income and financial freedom start to...
Bitcoin Trader Review
Cryptos aren’t something new, and it’s hard to find someone who isn’t aware of them, yet not everyone is willing to risk their money to increase their profits....
Binance Review
A combination of the words ’binary’ and ’finance,’ this platform didn't waste time in helping everyone define it as one of the best things that could ever...
Coinbase Review
With the rise of crypto trading, a lot of exchanges have opened their doors for traders. Coinbase is one of them. But what makes an exchange platform a...
Bitcoin Academy Review
With lots of courses, packages, and live trading events, My Bitcoin Academy (MBA) swears to turn everyone they can into effective crypto traders with perfect...
Bitcoin Billionaire Review
By providing a stress-free option for crypto trading, the Bitcoin Billionaire website says they’ve convinced more than 1,000 people worldwide to trade using...