Author Profile Picture
Author
Last updated on:
Why Trust Coin Launch Space

Coin Launch Space is here to give you clear, accurate, and trustworthy information about crypto. Our team is made up of experts with real experience in crypto, finance, and new tech. Every article and page we publish is carefully reviewed by skilled editors to make sure it’s up to our high standards. We take pride in offering honest, easy-to-understand reviews based on real knowledge. Check out our editorial policy and see how we test and review crypto assets.

Kraken Review: A Comprehensive Guide to One of the Oldest Crypto Exchanges

Kraken is among the most popular cryptocurrency exchanges which is marked by its reliability, long-time stable security, and numerous special options. A pioneer in the market, Kraken was launched in 2011 and has quickly become one of the most trusted places to invest in, sell and trade digital assets. Regardless of whether you are a new trader or experienced, at Kraken you would easily find the tool or resource you need. I have highlighted the main characteristics of Kraken, its advantages and disadvantages, fees and everything else you’d like to know when using this exchange service.

Overview of Kraken

Kraken is one of the leading cryptocurrency exchanges located in the USA offering trading in the widest number of cryptocurrencies and tokens, such as Bitcoin and Ethereum as well as hundreds of altcoins. Such services include spot trading, margin trading, staking and futures contracts. Kraken has its licenses in several countries, which gives its users a secure platform that is extremely compliant with the law.
The easy to use platform, coupled with the features of an active trader makes Kraken a good choice for the beginner investor or the short term trader as well as the long term trader.

Key Features of Kraken

 

1. Numerous Types of Cryptocurrencies

Kraken currently offers more than 200 open cryptocurrencies to trade, from the most popular ones such as BTC, ETH, SOL to new projects. It also provides traders with chances to diversify their investments with this diversified list.

2. Advanced Trading Tools

For experienced traders, Kraken offers features such as:

  • Margin Trading: AMD up to 5x on cryptocurrency transactions.
  • Futures Contracts: Futures trading with leverage as a mode of operation.
  • OTC Desk: Special services for the people who work with a high trade turnover.

3. Staking Options

It offers an opportunity to stake several cryptocurrencies including Ethereum and Polkadot, enabling you earn passive income with good returns through Kraken.

4. Kraken Pro

Kraken Pro has been programed for the superior market trades. It features:

  • A tool for the trading floor with on-screen features.
  • Tools of graphical analysis based on TradingView.
  • Dependent on the trading techniques and strategies, there are more sophisticated order sorts as follows.

5. High Security

The safety of its users has always received a lot of attention from Kraken. Features include:

  • Cold storage for most funds.
  • To this list, let the add the following technologies and practices: Two-factor authentication (2FA).
  • Additional account security with the help of Global Settings Lock (GSL).

Kraken Fee Structure

Kraken’s fee structure is competitive and straightforward:

  • Spot Trading Fees: Uses the maker-taker model of fee structure with a minimum of $0.16 (maker) and $0.26 (taker). There are privileges for volume traders which include low operational discounts.
  • Staking Fees: Free to set a stake but Kraken charges a small portion of the staked amount as fees.
  • Deposit/Withdrawal Fees: Dependent on the currency type used in trading that could be either a cryptocurrency or fiat money.

The Kraken Pro is cheaper than the normal platform to use which makes it suitable for those that trade often.

Pros and Cons of Kraken

Pros:

  • High Security: Stringent safety measures when it comes to customer’s money as provided in the following section.
  • Diverse Crypto Options: In excess of 200 virtual coins and numerous combined values.
  • Global Reach: Currently can be accessed in many countries as it has multi-language option for users.
  • Staking and Rewards: Many investors consider the passive income to be just staking to another passive income obtained through competition with other stakers.
  • Regulated Exchange: Meets all requirements in quite a few countries.

Cons:

  • Complex for Beginners: The additional options may cause confusion to first time users of the application.
  • Slow Customer Support: Some users sated that it takes time to get their problems solved.
  • Limited Payment Methods: This is despite the number of fiat deposit options being limited when compared to other established Coinbase competitors.

Easy Guide: Creating Kraken Account

 

Step 1: Sign Up

To start below are the steps involved, open Kraken’s official Website and sign up. As usual, you have to enter your e-mail address, come up with a powerful password, and select the username.

Step 2: Verify Your Identity

Kraken is designed to adhere to the KYC (Know Your Customer) policy. It requires customer to provide a Proof of Identity in form of ID and proof of address. Lower verification levels reveal more restrictive bonuses such as limits in the amount which can be withdrawn.

Step 3: Deposit Funds

Deposit money into the account by using any of the accepted means of paying which include bank transfer and cryptocurrencies. Available deposit options depend with the country of residence.

Step 4: Start Trading

Go to the trading terminal to purchase or sell crypto or exchange them for other assets. Premium facility known as Kraken Pro is also available to skilled traders with additional functions.

Who Should Use Kraken?

Kraken is ideal for a wide range of users:

  • Beginners: It is also simple in its design and provides a set of teaching materials for beginners in the digital currency market.
  • Experienced Traders: Futures trading and margin trading are some of the professional services for the professional traders.
  • Stakers: Having high staking rewards encourages the users in search of passive income.
  • Institutional Investors: Over the counter desk and high frequency trading make Kraken an ideal institution platform.

Kraken vs. Competitors

Kraken vs. Coinbase

The fee is lower and also, the tools that are offered on Kraken are far more superior than that of Coinbase. Nevertheless, for a new comer into the trading field Coinbase interface is easier to maneuver around with as compared to Kraken.

Kraken vs. Binance

The fees of Binance are lower, it also has more cryptocurrency options and advanced functions. But remember, Kraken is more obedient to the rules, and the protection it provides for users in countries with high standards of compliance is stronger.

Kraken vs. KuCoin

The Kraken platform will be more preferable for Institutional and end users who are interested in regulated platforms while the KuCoin platform is preferable for trading niche altcoins with low trading fees.

Tips for Using Kraken

  • Enable Security Features: In order to increase the security of the account on the website, use 2FA and perform Global Settings Lock.
  • Explore Kraken Pro: Cut the cost of your trading fees by switching to Kraken Pro for the enhanced functionalities.
  • Stay Informed: Stay tuned with the market trends and in order to make right decisions use the Kraken’s products and materials.

Conclusion

Kraken is an accredited, secure and highly functional trading platform suitable for different kinds of users. Its sheer volumes, security measures and sophisticated trading tools make it a special platform for many traders or investors. The platform might not be easy for newcomers to understand, but with the packed functionalities and worldwide connection, it is a worthy tool for those who are interested in the cryptosphere as a trader or an investor.
Win crypto for staking, speculate on futures contracts, or just invest your time and effort learning with Kraken: all the tools are here.

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox, every month.

We don’t spam! Read our privacy policy for more info.

Disclaimer: The content provided reflects the authors personal opinions and is influenced by current market conditions. Conduct thorough research before making any cryptocurrency investments. The author and the publication are not liable for any financial losses you may incur.