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Kraken Cryptocurrency Exchange

7.5

CURRENCY VERITY

8.0/10

REPUTATION

7.0/10

CUSTOMER FEEDBACK

7.5/10

CUSTOMER SUPPORT

7.8/10

DESIGN

7.0/10

Pros

  • Global 24/7 support
  • Fees as low as 0%
  • More Features

Cons

  • Not for Complete Beginners
  • No trading Pairs
  • Few Currency Support

Kraken cryptocurrency is a US-based cryptocurrency exchange, founded in 2011. The exchange provides cryptocurrency to fiat trading and provides price information to Bloomberg Terminal. Working on the lines of a stock exchange that facilitates stock trading, San Francisco-based Kraken is a cryptocurrency exchange where market participants can trade the various cryptocurrencies. The participants are allowed to buy or sell the cryptocurrencies using various fiat currencies, which include U.S. dollars, Canadian dollars, euros, and the Japanese yen.

What Is Kraken 

Kraken was established in the year 2011, and it formally launched the trading operations in 2013. It is owned by Payward Inc. and is headed by CEO and co-founder Jesse Powell. It provides the easy movement of money to and from the linked bank accounts of the participant, and the movement of cryptocoins to and from the participant’s digital wallets from Kraken-linked trading accounts.

Powell started Kraken cryptocurrency in the aftermath of the hack of the Mt. Gox exchange, after having helped the now-defunct exchange with its early problems. These shortcomings are what motivated Powell to build a more robust exchange.

Kraken the company is headquartered in San Francisco, California, Kraken operates worldwide with most of its activity in Europe. In 2013, in an effort to offer Kraken’s European customers regulated crypto trading services, the company partnered with Germany-based Fidor Bank, whose goal was also to bring emerging and innovative markets to its customers.

In 2014, Kraken launched their cryptocurrency trading platform in Japan, but closed this service down in 2018, citing operations costs. In 2015, Kraken announced a partnership with Canadian digital currency risk-management specialist company Vogogo and, as a result, launched its trading platform in Canada.

ExchangeDetails
Exchange NameKraken
Exchange TypeCryptocurrency
 Coins SupportN/A
 Trading PairsN/A
 Websitehttps://www.kraken.com/
 Twitterhttps://www.kraken.com/redirect?url=https%3A%2F%2Ftwitter.com%2Fkrakenfx
 Facebookhttps://www.kraken.com/redirect url=https%3A%2F%2Fwww.facebook.com%2FKrakenFX%2F
 Alexa Rank5774
 Top CountryIndia

How To Sign Up & Start Trading

You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

Kraken Hosting Details

  • Datacenter: Cloudflare, Inc.
  • Server IP: 104.16.213.191
  • Location: United States of America
  • City: Newark
  • Domain Who Is: Click Here
  • Nameservers: kim.ns.cloudflare.com, art.ns.cloudflare.com

Enable 2-Factor Authentication (2FA)

When you log certain the primary time, a pop-up will show up and ask you to enable the 2FA, which can help in increasing your account security. If you’re new 2FA, you’ll got to download the Google Authenticator  app then scan the QR (or enter the key key) so as to urge a 1-minute changing code.

After completing these three steps, you’re through with fixing your account.

Kraken Trading fees

Kraken’s trading fees for takers are 0.26%. This fee is ever so slightly above the industry average. The industry average is arguably around 0.25%.

However, the exchange offers a discount to makers, thus promoting the liquidity at the exchange. The maker fee is set at 0.16%. This is a strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.

Cryptocurrency withdrawal fees and minimums

There is a minimum requirement for each withdrawal, along with a flat fee to cover the transaction costs of moving the cryptocurrency out of your Kraken account. Below is a summary of the minimums and fees.

CryptocurrencyWithdrawal feeWithdrawal minimum
(after fees)
Algorand0.01 ALGO1 ALGO
Augur0.01 REP0.05 REP
Basic Attention Token4 BAT10 BAT
Bitcoin0.0005 XBT0.005 XBT
Bitcoin Cash0.0001 BCH0.001 BCH
Cardano0.6 ADA1 ADA
Chainlink0.12 LINK1.4 LINK
Compound0.01 COMP0.025 COMP
Cosmos0.1 ATOM1 ATOM
Dash (normal send)0.005 DASH0.01 DASH
Dash (instant send)0.01 DASH0.05 DASH
Dai0.5 DAI1 DAI
Dogecoin2 XDG50 XDG
EOS0.05 EOS0.5 EOS 
Ether0.005 ETH0.01 ETH
Ether Classic0.005 ETC0.01 ETC
Gnosis0.005 GNO0.01 GNO
ICON0.02 ICX0.03 ICX
Lisk0.3 LSK1 LSK
Litecoin0.001 LTC0.01 LTC
Kava0.1 KAVA1 KAVA
Kyber Network1 KNC5 KNC
Monero0.0001 XMR0.01 XMR
Nano0.05 NANO0.1 NANO
OmiseGO0.7 OMG1 OMG
Orchid3 OXT 10 OXT
PAX Gold0.0025 PAXG + 0.02% to Paxos0.005 PAXG
Qtum0.01 QTUM0.1 QTUM
Ripple0.02 XRP25 XRP
Siacoin1 SC2 SC
Stellar Lumens0.00002 XLM25 XLM
Storj6 STORJ10 STORJ
Tether USD (OMNI)5 USDT 10 USDT 
Tether USD (ERC20)0.5 USDT1 USDT
Tezos0.2 XTZ0.1 XTZ
Tron0.01 TRX2 TRX
USD Coin0.5 USDC1 USDC
Watermelon0.003 MLN0.1 MLN
Waves0.02 WAVES0.1 WAVES
Zcash0.0001 ZEC0.0005 ZEC

Deposit Methods

Kraken offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason. However, as the exchange accepts deposit of fiat currencies at all, it distinguishes itself from many other exchanges that only allows deposits in crypto.

One option you when it comes to the deposits is to deposit (and withdraw) USD, EUR, CAD, GBP and JPY through Etana Custody (and CHF through Bank Frick in Liechtenstein). Etana offers currency conversion for a wide range of fiat currencies. Users of the Kraken platform can wire transfer almost any fiat currency to their Etana Custody wallet, and then exchange that into one of the five major fiat currencies that the Kraken platform supports, in order to fund their respective Kraken accounts.

As of 12 November 2019, you can also deposit and withdraw EUR via SEPA-transfers. Kraken’s cooperation with Liechtenstein-based Bank Frick makes this possible. The SEPA-deposit fees are EUR 0.15 and the SEPA-withdrawal fees are EUR 1.00 (so next to nothing, really).

Kraken is the most trusted cryptocurrency exchange on the market.

Trade with confidence. Earning the trust of the clients has always been our highest priority. We earn that trust through the best security in the business — most of our digital assets are held safely in cold wallets so bad actors can’t reach it. The platform provides world class financial stability by maintaining full reserves, healthy banking relationships and the highest standards of legal compliance.

What we do

Empowering investors

Whether you’re an advanced trader or a crypto-beginner, Kraken gives you the power to chart your own financial course. Our exchange has an ever-growing number of cryptocurrency pairs for you to invest in and a slew of tools and features for you to leverage as you grow your portfolio. 

Supporting institutions

From over-the-counter trading to personalized white-glove account management, Kraken is the premier cryptocurrency investing solution for institutions of all sizes. We offer exceptional liquidity and competitive pricing for all our markets so you can achieve your investment goals quickly and confidently.

Global 24/7/365 support.

We pair our global 24/7/365 live chat with an extensive Support Center to help ensure your questions are answered and your needs are met around the clock — no matter who or where you are.

Join the revolution

Since Satoshi first mined Bitcoin’s genesis block in 2009, crypto has been changing the world – and the Kraken team is leading the charge. We’re looking for talented, inspiring people who are passionate about bringing cryptocurrency to the mainstream. If you’re interested in joining Kraken, click the link below to learn more about all of our open job listings. 


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