If you are new to the world of cryptocurrency exchanges, you should know that the Kraken exchange is one of the oldest exchanges for Bitcoin. Located in San Francisco (US), it is also the first cryptocurrency exchange to appear on the Bloomberg terminal.
Even though Kraken is not officially registered with a legislative board, it is still a highly respected platform in the European Union and the government of Japan.
What Makes Kraken A Trustworthy Exchange
Basically, Kraken accepts members from almost all the countries in the world. The exchange offers extremely high security for its customer’s accounts, making it difficult for hackers to steal the coins.
What’s most important, however, is that Kraken is safe. The exchange takes extensive measures to protect the customer funds – and a multi-layer protection for every account. There is 2FA (two factor authentication) too, which guarantees protection from unauthorized access.
Moreover, the sensitive and personal information of its users is stored in an encrypted format. This means that users can make use of the GSL and Master Key features available on the exchange.
Kraken Exchange, Kraken Wallet And Kraken Accounts
As a digital asset trading platform, Kraken makes it easy for buyers to buy, sell and margin trade their cryptocurrencies. For this, it is known as one of the largest Bitcoin exchanges in the world – thanks to its high liquidity and trading volume.
When it comes to the Kraken wallet, there is not one. Most of the customers store their crypto on cold wallets or transfer them on other wallets and exchanges.
The fees for depositing and withdrawing cryptocurrency on Kraken are as following:
- Euro (EUR) – SEPA bank transfer – Free (Deposit), €0.09 (Withdrawal)
- Euro (EUR) – International wire transfer – €5 (Deposit)
- US Dollar (USD) – US domestic wire transfer -$5 (Deposit/Withdrawal)
- Canadian Dollar (CAD) – Canadian domestic wire transfer – Free (Deposit)
- Canadian Dollar (CAD) – Electronic Funds Transfer (EFT) – C$10 (Withdrawal)
- Japanese Yen (JPY) – Japanese domestic bank transfer – ¥300 (Withdrawal)
All in all, creating an account on Kraken Exchange is easy – and you don’t have to submit any documents and can start trading immediately after opening the account. This does not take more than a couple of minutes and provides a simple and easy to use interface for trading.
So, is Kraken exchange the best out there?
We can’t say for sure – but it is definitely one of the best cryptocurrency exchanges. Signing up is easy, there are relatively low fees and the security is on a good level. You can buy Bitcoin, Ethereum and other cryptocurrencies in a simple and easy way!
For full information and real reviews by users, read our review on the Kraken exchange!