Kraken Kraken

Kraken is a cryptocurrency exchange founded in 2011 with headquarters in California. A number of crypto assets can be traded on the Kraken exchange, along with a variety of fiat currencies.
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Cryptocurrencies Fiat Currencies Payment Methods Payout Methods Fees
Bitcoin
Bitcoin
BTC
-3.64%
$67,529.30
Ethereum
Ethereum
ETH
0.21%
$3,799.28
Tether
Tether
USDT
-0.1%
$1.00
Solana
Solana
SOL
-4.66%
$171.94
USDC
USDC
USDC
-0.04%
$1.00
Pepe
Pepe
PEPE
3.11%
$0.0000141190
Dogecoin
Dogecoin
DOGE
-4.93%
$0.16
dogwifhat
dogwifhat
WIF
-8.2%
$2.83
Render Token
Render Token
RNDR
-12.66%
$10.18
Fetch.AI
Fetch.AI
FET
-11.72%
$2.36
XRP
XRP
XRP
-2.04%
$0.52
Avalanche
Avalanche
AVAX
-6.59%
$37.73
Near Protocol
Near Protocol
NEAR
-5.86%
$7.80
Polkadot
Polkadot
DOT
-5.2%
$7.13
Monero
Monero
XMR
0.93%
$140.93
Fantom
Fantom
FTM
-6.09%
$0.80
Internet Computer
Internet Computer
ICP
-6.85%
$12.17
Polygon
Polygon
MATIC
-0.75%
$0.72
Filecoin
Filecoin
FIL
-7.37%
$5.73
Arbitrum
Arbitrum
ARB
3.1%
$1.20
Chainlink
Chainlink
LINK
-3.16%
$16.03
Optimism
Optimism
OP
-1.95%
$2.61
Lido DAO
Lido DAO
LDO
2.99%
$2.18
Litecoin
Litecoin
LTC
-2.82%
$83.90
Cardano
Cardano
ADA
-5.15%
$0.46
Shiba Inu
Shiba Inu
SHIB
-4.58%
$0.0000243900
Celestia
Celestia
TIA
-6.69%
$9.06
Ocean Protocol
Ocean Protocol
OCEAN
-11.16%
$0.98
Gala
Gala
GALA
-8.55%
$0.04
Akash Network
Akash Network
AKT
-7.84%
$5.38
Kusama
Kusama
KSM
-6.61%
$29.86
Bitcoin Cash
Bitcoin Cash
BCH
-3.5%
$486.79
Uniswap
Uniswap
UNI
-1.09%
$9.19
Bonk
Bonk
BONK
5.78%
$0.0000352790
Starknet
Starknet
STRK
-0.37%
$1.23
THORChain
THORChain
RUNE
-5.95%
$6.23
Ethereum Classic
Ethereum Classic
ETC
5.82%
$32.62
Stacks
Stacks
STX
-4.76%
$1.99
Jupiter Exchange Token
Jupiter Exchange Token
JUP
-6.26%
$1.13
Sei
Sei
SEI
-6.59%
$0.51
Dai
Dai
DAI
0%
$1.00
Blur
Blur
BLUR
1.19%
$0.42
TRON
TRON
TRX
-4.88%
$0.11
Cosmos
Cosmos
ATOM
-4.46%
$8.24
The Graph
The Graph
GRT
-9.63%
$0.32
0x
0x
ZRX
-1.84%
$0.56
Stellar
Stellar
XLM
-3.39%
$0.11
Sui
Sui
SUI
-5.3%
$1.05
Injective Protocol
Injective Protocol
INJ
-5.78%
$25.93
Aave
Aave
AAVE
-1.42%
$94.31
JasmyCoin
JasmyCoin
JASMY
-4.01%
$0.02
Ethereum Name Service
Ethereum Name Service
ENS
8.25%
$23.65
Wormhole
Wormhole
W
-2.31%
$0.55
Pyth Network
Pyth Network
PYTH
-6.82%
$0.43
Aptos
Aptos
APT
-4.75%
$8.73
Maker
Maker
MKR
-4.61%
$2,835.30
Immutable X
Immutable X
IMX
-4.47%
$2.40
Quant
Quant
QNT
-3.91%
$93.57
PAX Gold
PAX Gold
PAXG
-2.18%
$2,333.12
Flare Network
Flare Network
FLR
-3.57%
$0.03
Synthetix Network Token
Synthetix Network Token
SNX
-2.97%
$2.78
DYDX (ETH)
DYDX (ETH)
DYDX
-5.57%
$1.93
UMA
UMA
UMA
-8.05%
$3.31
ApeCoin
ApeCoin
APE
-5.54%
$1.23
Siacoin
Siacoin
SC
-4.7%
$0.0070800000
Terra Classic
Terra Classic
LUNC
-5.55%
$0.0001116500
Yield Guild Games
Yield Guild Games
YGG
-9.49%
$0.86
Dymension
Dymension
DYM
-5.57%
$2.62
Algorand
Algorand
ALGO
-5.45%
$0.18
Alchemy Pay
Alchemy Pay
ACH
-4.96%
$0.03
SuperVerse
SuperVerse
SUPER
-9.21%
$1.02
Enjin Coin
Enjin Coin
ENJ
-7.34%
$0.34
EOS
EOS
EOS
-4.07%
$0.82
API3
API3
API3
1.45%
$2.79
Axelar
Axelar
AXL
-11.15%
$0.89
Basic Attention Token
Basic Attention Token
BAT
-4.6%
$0.24
Curve DAO Token
Curve DAO Token
CRV
-5.44%
$0.45
Livepeer
Livepeer
LPT
-7.81%
$22.43
GMX
GMX
GMX
-2.75%
$30.50
The Sandbox
The Sandbox
SAND
-5.54%
$0.43
Mina Protocol
Mina Protocol
MINA
-4.03%
$0.78
Sushi
Sushi
SUSHI
-3.13%
$1.16
Flow
Flow
FLOW
-4.66%
$0.91
Qtum
Qtum
QTUM
-4.88%
$3.66
Tezos
Tezos
XTZ
-4.01%
$0.94
Loopring
Loopring
LRC
-5.36%
$0.27
Decentraland
Decentraland
MANA
-5.46%
$0.44
Zcash
Zcash
ZEC
-2.16%
$24.16
MultiversX (Elrond)
MultiversX (Elrond)
EGLD
-3.95%
$38.01
Waves
Waves
WAVES
-5.26%
$2.38
Threshold Network
Threshold Network
T
-5.12%
$0.04
Kava
Kava
KAVA
-4.86%
$0.66
Astar
Astar
ASTR
-4.33%
$0.09
Wrapped Bitcoin
Wrapped Bitcoin
WBTC
-3.64%
$67,400.00
Ethereum PoW
Ethereum PoW
ETHW
-0.86%
$3.74
Audius
Audius
AUDIO
25.46%
$0.21
PayPal USD
PayPal USD
PYUSD
-0.18%
$1.00
Chiliz
Chiliz
CHZ
-6.33%
$0.11
Moonbeam
Moonbeam
GLMR
-6.89%
$0.28
Raydium
Raydium
RAY
-6.14%
$1.79
yearn.finance
yearn.finance
YFI
-4.28%
$6,852.00
Marinade Staked Sol
Marinade Staked Sol
MSOL
-4.16%
$203.70
Terra
Terra
LUNA
-5.93%
$0.59
Aragon
Aragon
ANT
0.08%
$9.45
GMT
GMT
GMT
-4.09%
$0.22
iExec RLC
iExec RLC
RLC
-9.86%
$3.02
WOO Network
WOO Network
WOO
-3.18%
$0.32
Dash
Dash
DASH
-3.54%
$29.83
Axie Infinity
Axie Infinity
AXS
-4.48%
$7.50
Mask Network
Mask Network
MASK
-4.12%
$3.31
Chromia
Chromia
CHR
-7.59%
$0.32
Rocket Pool
Rocket Pool
RPL
1.45%
$21.90
1INCH
1INCH
1INCH
-4.7%
$0.40
Gnosis
Gnosis
GNO
4.47%
$346.86
BitTorrent
BitTorrent
BTT
-3.67%
$0.0000012000
Band Protocol
Band Protocol
BAND
-4.83%
$1.55
Frax Share
Frax Share
FXS
-3.66%
$4.39
Balancer
Balancer
BAL
-0.55%
$3.89
TrueUSD
TrueUSD
TUSD
-0.24%
$1.02
Centrifuge
Centrifuge
CFG
-1.35%
$0.70
Convex Finance
Convex Finance
CVX
-4.47%
$2.60

Bitcoin can be traded on the Kraken exchange under the ticker XBT. Kraken provides a number of features, such as margin trading for some assets and a leverage limit of 5x. Furthermore, Kraken offers stakes and over-the-counter trading. To qualify for OTC trading, certain criteria must be met.

In addition to crypto trades, Kraken also offers futures trading, Kraken Futures, which allows for a maximum leverage of 50x, although certain regions are not allowed to use it, including customers in the United States and Japan.

Explaining the benefits

Supports more than 120 currencies: Kraken supports prominent digital currencies such as Bitcoin, Ethereum, Cardano, and Solana.

User-friendly interface: Kraken can be used without any prior experience in cryptography.

Exchange with high liquidity: Kraken has a high liquidity level, making it easy to trade at market rates.

Explaining the drawbacks

Without Kraken Pro, fees are higher: Transaction fees on the main Kraken platform are higher than on Kraken Pro.

Hacking losses: Users claim that Kraken has not provided support for costly hacks.

A brief overview of the company

There are offices of Kraken all over the world. The company supports customers in the United States and most other countries around the world. Kraken offers competitively priced cryptocurrency trading to both individuals and institutions. 

Kraken is the best platform for beginners, while more experienced crypto enthusiasts may prefer Kraken Pro and its advanced margin and futures features. Those who stake coins can also earn interest rewards, whether they are beginners or advanced users. With Kraken’s combination of platforms and services, your cryptocurrency needs are likely to be handled.

Safety

If you follow good online security practices, you should be safe from cybercriminals trying to drain your balances. A two-factor authentication should be added to the account once it has been funded. Sign-in, withdrawal, and trade codes can all be created independently. Alternatively, if you’re concerned that your account may have been hacked, you can lock it from any changes.

Kraken’s characteristics

Methods of payment available

Currently, Kraken accepts only the following currencies:

  • US Dollar
  • Euro
  • Japanese Yen
  • Pound Sterling
  • Swiss Franc
  • Canadian Dollar

Debit and credit cards are accepted as payment methods for Canadian clients. International users can fund their accounts only through wire transfers, for which a small fee is charged. Wire transfers to SEPA accounts in the EU are free. You can also transfer money instantly with Kraken’s SEPA Instant Payments, so you won’t have to wait for days to get your money.

Fees and Limitations

Kraken, as well as the majority of cryptocurrency exchanges, use a maker/taker fee model, which essentially means that the fee will be different based on whether you are adding liquidity to the market or removing it.

Clients incur maker fees whenever they place a trade that is not automatically matched with an already existing order. As the name implies, it is a ‘maker’ because it creates/increases demand for cryptocurrency.

In contrast, taker fees apply when a client places an order that is automatically matched with an order that already exists in the system. As a result, liquidity is reduced as an existing coin is taken off the market; hence, it is referred to as a ‘taker’.

As The Kraken platform does not charge you until a transaction is completed; that is, until your order is matched with that of another customer. You cannot predict this fee until you have executed your order, which is another reason you cannot predict it until you are a maker or a taker. A fee of 0% to 0.3% can be charged.

Besides your maker/taker status, your fee may also be influenced by your currency pairing (for example, USD to Bitcoin) and your dollar volume over the past 30 days. Your fee will be lower if you have traded more in the past 30 days.

Beginners may be more attracted to other options than the maker/taker model. You can, for example, purchase cryptocurrency quite easily using an option called ‘Instant Buy’. You will have to pay a higher price for this than if you used the maker/trader model.

You would have to pay a flat rate of 1.5% for converting, buying, or selling with the Instant Buy option. Additionally, if you are using your credit/debit card, there will also be an additional 4% fee.

CONCLUSION

Traders and investors looking for a new cryptocurrency exchange can make Kraken a good choice due to its price and features. Kraken Pro’s low fees, high stakes rates, and futures markets all make it an attractive choice. The platform is not as easy to navigate as its competitors, and some users report serious account security issues.

Generally, Kraken is a solid option for cryptocurrency trading and investing. Take steps to secure your account with two-factor authentication and make sure you understand all the costs and risks involved. Purchasing and selling cryptocurrencies on Kraken should be a positive experience for you.

 

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