Kraken Exchange Review 2021 – Details, Trading Fees & Features
If you are a crypto enthusiast, you might have heard of Kraken Exchange. Kraken is known as one of the oldest and top-notched cryptocurrency exchanges in the world.
Kraken was founded back in 2011 and is based in San Francisco. This digital assets trading platform is equipped with margin trading, over-the-counter (OTC), and offers an advanced trading platform.
Kraken is also renowned for its unique trading fee structure in the cryptocurrency exchange industry. When a trader's monthly trading volume increases, the trading fee gets discounted.
Kraken is one of the strongest crypto exchanges across the world.
In 2014, Kraken Exchange emerged as the top cryptocurrency exchange in terms of Euro volume for Bitcoin trading.
Kraken Exchange Interface
Kraken's interface is not beginner friendly. However, professional traders and investors can enjoy sophisticated insights available on the platform.
Moreover, its advanced options like margin and futures are suitable for modern-day traders.
Features and Functions
24/7 Customer Support
Bug Bounty - Kraken gives away bitcoin as a reward for notable bug finders.
Kraken Futures - Qualified clients can use up to 50x with Ethereum, Litecoin, Bitcoin Cash, Ripple and Bitcoin futures available on Kraken.
Margin Trading - The Kraken Trade Engine allows clients to use up to 5x, manage positions with advanced order options, and pay low charges.
Excellent Security Features - Including two-factor-authenticator, withdrawal email confirmations, API key, global setting time lock etc.
Staking - Kraken supports Polkadot (DOT), Cosmos (ATOM), Tezos (XTZ), Bitcoin (XBT), Euro (EUR), and US Dollar (USD).
Kraken Pro - Kraken Pro is a mobile-optimized app available for both Android and iOS users.
Supported Currencies:
Bitcoin (BTC)
Monero (XMR)
Waves (WAVES)
Polkadot (DOT)
Ethereum (ETH)
Tether (USDT)
Augur (REP)
Cosmos (ATOM)
Ripple (XRP)
Ethereum Classic (ETC) Dogecoin (DOGE)
Tezos (XTZ)
Bitcoin Cash (BCH)
Icon (ICX)
Basic Attention Token (BAT) USD Coin (USDC)
EOS (EOS)
Qtum (QTUM)
Kyber Network (KNC)
Algorand (ALGO)
Litecoin (LTC) etc.
Available Payment Methods
Krakern Exchange supports fiat currencies. Traders can deposit using both fiat and/or cryptocurrencies.
Pros and Cons
Pros:
Advanced trading options
Worldwide availability
Cheaper trading fees depending on the volume
One of the largest exchanges
No previous record of being hacked
Supports fiat currencies and cryptos for trading and deposits
Cons:
The user interface is not beginner-friendly
Week customer service
To conclude, Kraken is a well-built and very advanced platform offering customers extensive features. Kraken is one of the most trusted digital asset trading platforms in the industry. You may also check Kraken Exchange Review CoinQuora article for an in-depth analysis.