This is a review about Kraken, the US-located cryptocurrency exchange which offers a comprehensive trading platform including OTC and margin trading.
Founded back in 2011 by Jesse Powell, it is popular due to its low transaction charges, robust security, and a wide array of features. The exchange boasts of being the biggest Bitcoin exchange according to euro liquidity and volume.
With its headquarters in San Francisco, the operations are all over in the US (except for New York because of licensing restrictions), Canada, the EU and Japan.
Previously shunned due to the instability of its platform, the website has since upgraded its services with a clear focus on customer satisfaction and support. Kraken always conducts audits to assure customers on the safety of their funds.
Kraken’s services and supported currencies
It offers an advanced platform that includes margin and spot trading to experienced clients. For large volume trades, the exchange provides OTC (Over The Counter) services.
Additionally, high volume and frequent traders can get a personal account manager to address their trading needs. They also provides an order book (dark pool) visible only to individual traders to prevent unfavorable market fluctuations.
Mainstream currencies accepted by Kraken include:
Talking of cryptocurrencies, the exchange supports 20 coins such as:
The charges are some of the lowest among the major bitcoin exchanges with the fees you’ll pay depending on your trading volume in the last 30 days.
Payment options and customer support
Withdrawals and deposits can be made via SWIFT, SEPA, domestic and wire transfers. Mostly, these are likely to take 1 to 5 business days.
It is free to make cryptocurrency deposits, but in some cases, a small setup fee is charged. Mainstream currency deposits via SEPA are normally free, making Kraken very convenient if your location is in the EU and on SEPA countries’ list.
Kraken’s site features a comprehensive support guide that explains everything from trading to account verification.
Mostly, you will find what you are searching for there. However, in case you need support, you can communicate with a live representative through the site’s integrated chat or submit a ticket to support.
Overall, the stability of the platform and the level of support has improved since the upgrade.
It is one of the most popular Bitcoin and Cryptocurrency exchanges on the market.
With good reputation Kraken serves millions of traders all over the world.
It is based in San Francisco, USA.
Kraken supports trading in 34 Cryptocurrencies. Most of the major cryptocurrencies are supported as well as many new ones.