Kraken : Review

Kraken is a top European based exchange and offers a variety of fiat to bitcoin pairs such as JPY, EUR, GBP and USD. Volume is decent especially on the JPY BTC pair after MT Gox’s collaps – with Kraken assuming the mantle in that region. The exchange also has a smattering if popular crypto to crypto pairs including litecoin and dogecoin.

Kraken is a platform where you can make money by trading crypto currency and bitcoin, you buy and you sell digital assets and you make money .

1-Description of the platform : 

Kraken is the largest Bitcoin exchange in euro volume and liquidity. After trying to help MtGox recover from the hacking attack, Jesse Powell decided to offer the world the first professional BTC exchange – that’s how Kraken was born. The company was founded in San Francisco on 28th of July, 2011 and remains based in California.

The platform is an excellent choice for European users, but after a number of acquisitions in the last couple of years, their focus seems to be shifting from Europe to Worldwide market.

The Advantages

The following are the advantages of using Kraken:

  • A very popular platform for intermediate or professional crypto traders and occasional users
  • Kraken has an excellent rank (5th) on the list of leading cryptocurrency exchanges
  • Support for an increasingly wide range of high-volume cryptocurrencies as well as fiat currencies
  • Bitcoin Cash credited to all users promptly & now open for trading
  • Very low fees compared to other more “beginner-friendly” exchanges like Blockchain.info or Bitpanda
  • Pioneering transparency: Kraken was the first exchange to carry out proof-of-reserves auditing
  • Free deposits for Euro, Canadian dollar, and Japanese yen
  • Super fast SEPA withdraws: mine usually take no more than 2 days (so much faster than any other exchange)
  • Very reasonable fees: fiat & cryptocurrency trades/withdrawals are much cheaper than on other exchanges
  • Excellent security initiatives: two-factor authentication is encouraged using Google’s 2FA app
  • Supports margin trading for users seeking greater exposures with smaller upfront capital

 

The Disadvantages

The following are the disadvantages of using Kraken:

  • The user interface is not as beginner friendly as other exchanges like Coinbase or CEX
  • Account verification times are no faster than competing sites such as Bitstamp or Coinmama
  • Up to $15 fees for every fiat deposit and withdrawal through SWIFT (international banks)
  • Occasional arbitrary closure of accounts has been reported (when fraud is suspected), though this not as common as on Coinbase
  • Slow execution of orders, sometimes taking up to 30 seconds, which can result in loss of money for professional traders
  • Often unresponsive customer support following the recent cryptocurrency bull-market & large influx of new users.
  • Like most custodial exchanges, Kraken holds the private keys to your account’s crypto address

 

2-Affiliation :

There is no any affiliate program on this platform, you can just earn money by doing crypto trading .

3-Others information about the site :

Alexa ranking : 10000

language of the site : English, French and arabic

4-My Review about the site :

Kraken is one of the best platforms to earn money by trading bitcoin and others altcoins against Bitcoin and altcoins .

The link to join the site here

Read also :

Bittrex review

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