Kraken Review

Kraken Review

Key takeaways from this review:

• User-Friendly Interface & Advanced Trading Features
• High Security & Diverse Trading Pairs
• Competitive Fees & Reliable Platform for Traders.

Kraken Pros & Cons

What is Kraken?

Kraken is a leading cryptocurrency exchange platform, offering users access to a wide range of digital currencies and trading options. It provides a secure and reliable platform for traders to buy, sell, and trade digital assets.

Kraken is one of the world's leading cryptocurrency exchanges. It offers a wide range of features that make it a great choice for both new and experienced traders. 

Kraken Products & Features

Kraken's user interface is intuitive and easy to use, making it a great choice for beginners. It also offers advanced features for more experienced traders, such as margin trading and futures trading. 

Kraken also offers a wide range of trading pairs, with more than 50 different cryptocurrencies available. This makes it easy to find the right pair for your trading needs. 

Kraken also offers a wide range of security features, such as two-factor authentication and encrypted wallets. This makes it a great choice for those who want to keep their funds safe. 

Kraken also offers a wide range of features for those who want to automate their trading. It offers a range of bots and trading algorithms, as well as a range of APIs for developers. 

Kraken also offers a range of other features, such as staking, lending, and over-the-counter trading. This makes it a great choice for those who want to diversify their trading strategies. 

Overall, Kraken is a great choice for those looking for a reliable and secure cryptocurrency exchange. It offers a wide range of features that make it a great choice for both new and experienced traders.

Kraken Customer Support

Kraken offers customer support through a range of channels, including email, live chat, and phone support. However, some users have reported slow response times, particularly during times of high market volatility.

In addition to its traditional customer support channels, Kraken also offers a comprehensive help center with detailed guides and FAQs. This can be a useful resource for users who prefer to troubleshoot issues on their own, or who want to learn more about the platform's features and capabilities.

Can US Citizens Use Kraken?

Kraken is available to US investors, except for those located in New York and Washington. Additionally, Kraken is not available to investors in certain countries, including Afghanistan, Cuba, Iran, Iraq, Japan, North Korea, and Tajikistan.

Kraken Trading Fees

Kraken's fees vary depending on the trading pair and the type of order. Withdrawal fees depend on the currency being withdrawn, and are generally quite low. Maker fees are generally lower than taker fees, and vary depending on the trading pair.

Maker fees range from 0% to 0.16%, while taker fees range from 0.10% to 0.26%. Kraken also offers volume-based discounts for high-volume traders, with discounts ranging from 0.02% to 0.12%.

Overall, Kraken's fees are quite competitive, and traders can benefit from the discounts offered for high-volume traders. Kraken also offers a number of other features, such as margin trading and advanced order types, that can help traders optimize their trading strategies.

Kraken Alternatives

There's no shortage of crypto exchanges out there, but if you're looking into Kraken, you probably are looking for high-volume, high-liquidity exchanges that are well known and trusted. If that's the case, then these Kraken alternatives should appeal to you, as well:

• Binance: Binance is one of largest exchanges in the world, well known in the crypto-community, and has a wide range of features and coins for trading. Check out our Binance review here, and sign-up here.
• ByBit: ByBit is another well known exchange that is great if you're looking for margin trading on a high-liquidity exchange. Check out our ByBit review here, and sign-up to trade on ByBit here.
• eToro: eToro is another well-known crypto exchange with some unique features. With eToro copy trading, you can automatically copy their top traders, making this one of the best exchanges for beginners. Check out our comprehensive eToro review here, and sign-up here.

How to Sign up on Kraken?

Here are the step by step instructions on how you can sign up on Kraken.

1. Visit Kraken Exchange
2. Click "Create Account" on the top-right corner of the page.
3. Enter your username, email address and a secure password
4. Enter your country of residence and state/province
5. Read and agree to the Terms of Service
6. Click "Create Account"
7. Verify your email address
8. Complete the verification process
9. Log in to your account and start trading!