Everything you need to know about the Kraken platform
Crypto Lite – The Kraken platform is a good choice for novice and experienced cryptocurrency investors alike. Kraken is a cryptocurrency exchange. It allows buying and selling digital assets such as Bitcoin and Ethereum. It is one of the oldest bitcoin exchanges. Supports over 50 different currencies to buy, sell and trade with competitive trading fees.
The platform supports spot trading with intraday market prices and futures contracts for cryptocurrency. It is a good choice for cryptocurrency investors and traders who are looking for low trading fees and quick access to a wide range of cryptocurrencies.
Advantages of the platform:
- Support for more than 50 alternative currencies
- Simple user interface
- High liquidity platform
- Higher fees when not using the KrakenPro platform
- Lack of as many alternative currencies as some competing platforms
- Some of its customers have reported losses due to hacks
It is a major cryptocurrency exchange that makes it easy to buy, sell and exchange a long list of dozens of different cryptocurrencies including Bitcoin and Ethereum, the two main currencies in the market.
In addition to buying and selling cryptocurrencies at market prices, Kraken offers its clients margin accounts, futures trading and risk products useful for some trading strategies.
The easiest place for new crypto investors to start on the Kraken platform is the main Kraken platform. But more experienced traders, and even investors outside of the cryptocurrency space, may prefer the low-cost active trading platform Kraken Pro.
The main advantages of the Kraken platform
Supports more than 50 alternative currencies: Popular currencies like Bitcoin, Ethereum, Cardano, Solana, Dogecoin, and Stellar Lumens.
Simple user interface: Relatively easy to use even if you have no experience with cryptocurrency.
High Liquidity Trading Platform: The platform is active. Where it is easy to buy and sell at market prices.
Higher fees when not using the platform Kraken Pro: The main Kraken platform charges higher transaction fees than the Kraken Pro platform.
Not having as many altcoins as some of its competing platforms: There are many digital currencies available, but many currencies are not available.
Some clients of the platform have reported losses due to hacks: Some clients of the platform have reported a history of costly hacks with little or no support from Kraken.
Company Profile Kraken
It is a cryptocurrency trading platform. Founded in 2011. San Francisco. It has offices all over the world. It supports its clients in 185 countries including the United States. One of its features is to support individual and institutional investors by trading cryptocurrencies at competitive prices.
Beginners get the best performance across the main Kraken platform, while professional and expert crypto enthusiasts may prefer Kraken Pro. With advanced margin and futures features.
Beginners should also click on the “earn” tab, where you can deposit your cryptocurrency balance to earn “interest”.
Cryptocurrencies available on the site Kraken
The platform supports 87 cryptocurrencies, including popular currencies such as:
Stellar Lumens (XLM)
In addition, Kraken supports quite a few stablecoins such as Tether, USD Coin, and Dai.
You can convert US dollars into Canadian dollars, Japanese yen and Swiss francs. But note that not all currencies are available in every country.
Kraken offers two trading platforms to its clients, the Kraken platform and the Kraken Pro platform. The Kraken Pro platform charges lower fees. It is available to anyone with a Kraken account.
Depending on the cryptocurrency and active market trading experience, you may prefer one of the two platforms Kraken or Kraken Pro. But either way, there is a platform suitable for both beginners and professionals.
It is best for beginners to start with the Kraken central platform. With a verified account, you can quickly buy cryptocurrency from a linked bank account, it is easy to sell or transfer between currencies in your account.
Once your account is created and logged in, it only takes a few seconds to enter an order using a live form.
The form used to buy, sell and transfer cryptocurrency via the Kraken platform.
With this form, you can buy cryptocurrencies directly from your bank account balance. And you don’t have to fund your account first.
In addition to buying and selling, you can deposit your cryptocurrencies for storage. And earn up to 20% interest, depending on the currency. With the interest staking system, you can earn interest on your balances from the cryptocurrency on the Kraken platform.
And to keep your account secure, be sure to enable two-factor authentication (2FA), which prevents anyone from logging into your account without your device and a randomly generated code on hand.
platform Kraken Pro
It is an active trading platform that works through your web browser or your smartphone. Although the interface may find it intimidating to novice cryptocurrency and trading investors, it is well worth learning. It includes more detailed information about the assets. Like active charts and a display of open orders.
Kraken Pro النشطة active trading screen
It includes charts and detailed information on cryptocurrencies. Anyone with an active account on the platform can use Kraken Pro. You will probably find the low fees more important than the advanced interface. If you make the same trade via Kraken Pro instead of Kraken, you will pay less than using the main interface.
Prices and fees vary depending on the platform you are using and the trade you are entering. In either case, the prices are also subject to a spread fee. Here’s a glimpse of the most important fees you should be aware of:
Kraken platform prices
For spot purchases, the fee is 1.5% for most cryptocurrencies and 0.9% for US stablecoins. dollars or another stable currency.
Additional fees depend on how the purchase is financed. Rates range from 0.5% for financing with a bank account to over 3.75% with a debit card, credit card or digital wallet.
platform prices Kraken Pro
Kraken Pro offers much lower prices than the main Kraken platform. The pricing is based on your total trading volume over the past 30 days. Most trades are subject to either a 0.26% trading fee. or 0.16% Maker Market Fee. These are trades that are not immediately matched to existing orders, adding liquidity to the platform. Orders that match a pending order from another market user are charged a Trade Taker fee and require a slightly higher fee.
Worker Safety on the platform
Your Kraken account should be safe from cybercriminals looking to drain your balances. You have to follow good online security practices. Once the account is funded, it is very wise to add two-factor authentication. You can generate different binary codes for login, account withdrawal and deals. There is also a feature to lock your account from any changes if you are concerned that your account has been hacked.
While most customers have had a positive experience, some have reported hacked accounts. The owner has lost everything without any options to recover his lost assets.
Since the blockchain transactions of cryptocurrency cannot be reversed, cryptocurrency accounts are a common target for fraud. Be aware of these risks when using Kraken or any other platform.
Open an account on the platform Kraken
Creating a new account on Kraken is quick and easy. Whereas, subscribing to Kraken is similar to subscribing to a stock brokerage or other cryptocurrency exchange. If all of your information is at your fingertips, it can take as little as five minutes to get your account up and running.
When registering, you will need to provide contact information such as your name, address, phone number, and Social Security number. This information is part of the so-called Know Your Customer (KYC) requirements in the financial fields.
To verify your account and access all trading features, you will need to provide additional information, including uploading a copy of a government photo ID. Without adding this information, you’ll still be stuck with limited account functionality.
The global settings lock feature allows you to quickly hide sensitive account information and prevents changes to account settings, including checkout addresses.
Obtain Kraken It receives only two out of five stars on Trustpilot, indicating that many users have experienced major problems. The most common complaints focused on long wait times for customer support responses and withholding of funds after the initial safety period.
Customer service complaints are alarming, but it is important to take both positive and negative reviews into account when choosing a cryptocurrency exchange.
Account management is mostly self-service. It is handled through the website Kraken and mobile applications. If you have a laptop or desktop computer, you will find the large screen makes managing your account easier.
in dashboard Kraken You can update settings, manage your consent level, add 2FA, manage API keys, and close your account. The Global Settings Lock feature allows you to quickly hide sensitive account information and prevents changes to account settings, including checkout addresses.