Kraken is one of the largest cryptocurrency exchanges in the world and it has been offering investors the possibility to buy, sell and hold digital assets for several years now. One of the most interesting characteristics of this exchange is related to its low fees when compared to other platforms in the cryptocurrency market.
In this post, AltSignals is going to be doing a review of the Kraken crypto exchange and how this can be helpful for you in the future.
Kraken Crypto Exchange Review
There are thousands of virtual currencies in the world and investors are ready to acquire them if they consider these have the potential to move higher in the coming years. There are different reasons why users want to buy digital assets. It can be to speculate with its price in the long term or also to trade on a regular basis.
Kraken is going to be a platform that would help both kinds of users: those that are searching long-term investing strategies and also those that would like to trade on a regular basis.
In the next sections, we will share with you some of the most important features related to Kraken, how it works, the trading pairs supported, the security of the Kraken crypto exchange and many other things that could be useful to you.
Who Founded and When Was Kraken Created?
The Kraken crypto exchange was founded by Jesse Powell back in 2011 and since then it became one of the most respected virtual currency exchanges in the world. Nowadays, the platform is handling over $169 million in trading volume.
At the same time, CoinMarketCap shows it as the third-largest trading platform in the world after Binance and Coinbase Pro in terms of Web Traffic Factor.
Cryptocurrency Trading Pairs
It is worth taking into consideration that the Kraken crypto exchange is handling around 181 markets (trading pairs). Some of these trading pairs include the most popular ones and also some smaller markets with altcoins.
One of the most important things to mention about the Kraken crypto exchange is the support they offer for several fiat currencies, including the U.S. dollar (USD), the Japanese Yen (JPY), the Canadian Dollar (CAD), the British Pound (GBP), the euro (EUR), the Australian Dollar (AUD) and the Swiss Franc (CHF).
Several virtual currencies are supported, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), XRP, Litecoin (LTC), Chainlink (LINK) and EOS, among others. Thus, there are going to be many fiat currency trading pairs and a wide range of crypto pairs as well.
Trading Fees
Kraken trading fees are going to be among the lowest in the market. This is going to be one of the best features of the platform considering traders are always searching for different ways to maximize their profits.
With lower trading fees, they can have larger profits in the long term, something that can be very useful for individuals in the cryptocurrency market. Other exchanges offer higher fees to traders, making it more difficult for them to remain profitable.
Take into consideration that Kraken fees are also going to be dependent on the 30-day trading volume and the trading pair you selected to trade. The fees are now ranging between 0% and 0.26%.
Security
Security is a very important topic for crypto platforms. The Kraken crypto exchange is taking security seriously, specifically after what happened to the Mt. Gox crypto platform that was hacked over 5 years ago.
The Kraken exchange has never been affected by a crypto hack. This is very positive for an exchange considering platforms such as Binance have already been attacked and hacked. Kraken has added Google Authenticator or Yubikey in order for users to have their accounts protected at all times.
Due to their focus on security, Kraken acquired large respect from the crypto community. The platform is working to offer even better services to users and help them have one of the best trading experiences ever.
Furthermore, they are offering a mobile application and customer support in case you find problems or if you have questions.
Conclusion
The Kraken cryptocurrency exchange has been expanding all over the world in the last years. Due to the solutions, the platform is currently offering they were able to attract several individuals and users from all over the world.
Security and low trading fees are the most useful things related to this exchange. Traders will feel protected while handling virtual currencies and they will also be able to enjoy low trading fees.
