Kraken (kraken.com) - REVIEW, TRADING VOLUME AND PAIRS
Kraken is one of the most famous and oldest cryptocurrency exchanges, established back in 2011. Although at the time of writing, the trading volume on the platform is 73 million dollars per day, experts call Kraken a very influential platform, since the company owns additional assets in the form of several cryptocurrency exchange services. Transparency and impeccable business reputation contributed to the growth of the popularity of the trading platform in Europe and America. We believe that the platform can be trusted since it has never been at the center of scandals and continues to operate steadily, although many competitors had to close down after successful hacker attacks.
Here you will find wide functionality and user-friendly interface, which is now available in almost all popular languages, including English, Russian, French, Spanish, Italian, and Chinese. You can trade on the platform through the official website Kraken.com, and through the app on your mobile device.
Registration and verification in Kraken
Before you start trading on the exchange, you need to register. This process is no different from any other similar platform. Once you confirm the registration by clicking on the link sent to the specified e-mail, you can safely go to the cabinet using the previously specified login and password. But to start trading you need to pass the verification.
Kraken provides several levels of verification so that the user can decide for himself what personal data he is ready to provide to the exchange administration:
• Level 0 - the account is not verified, the deposit and withdrawal of funds are blocked.
• Level 1 - requires the full name, birthday, phone number and country of residence. It allows you to replenish your account in cryptocurrency and withdraw funds, as well as to conduct trades.
• Level 2 - requires proof of address, allows you to deposit and withdraw money in fiat currency.
• Level 3 - requires the provision of an individual taxpayer number, increase the withdrawal limit.
• Level 4 - available only after direct contact with the support service of the website, gives access to the maximum withdrawal limit.
Money deposit/withdrawal and commission fees
One of the main benefits of the Kraken exchange is that the account here can be replenished in different fiat currencies, including the US or Canadian Dollar, Japanese Yen, Pound or Euro. You can view the balance in the corresponding section of the menu.
The maximum trading commission for a market maker is 0.16% with a progressive decrease as the monthly trading volume increases. If the trading volume is more than $ 10 million per month, the market maker does not pay a commission. For a market taker, the maximum commission is 0.26% if the trading volume does not exceed $ 50,000 per month. The minimum fee of 0.1% is available only for takers who have provided a monthly turnover of more than $ 10 million.
The unambiguously positive sides of the exchange are:
• Large selection of trading pairs;
• Margin trading option;
• The reliability and security of the platform;
• Convenient verification format.
Among the negative aspects can we can note the presence of verification as such. As a customer, you will need to confirm your identity in any case. Kraken is considered to be one of the best platforms for trading, especially if you consider the moderate commissions that the exchange charges from customers.