Kraken Exchange Review : Details, Price & Features

Technology has changed the whole world. A few years back we couldn’t imagine things that we are doing today very easily. The development in the technological world has changed the whole face of the world. Just like if we wanted to invest in cryptocurrencies a few years back then it would have been a long process, but today we can do it in just a few clicks. Thanks to the development of crypto exchanges that not only let us buy, sell and trade cryptocurrencies but also provides so many features.

Today, we will review one of the crypto exchanges called Kraken in this article.

Introduction

Kraken is a San Francisco-based cryptocurrency exchange. It was founded in 2011 and since then solving our all needs for cryptocurrency. It is the oldest and well-known cryptocurrency trading platform. Kraken is presented in over 190 countries in the world, its headquarters is in San Francisco, California, United States. It is one of the few exchanges that present their data on Bloomberg Terminal. And it is the first exchange to provide the service of margin trading to its customers.
The mission of Kraken is customer satisfaction and customer support. Customers say that it is the most trusted and safe trading platform in the industry. Experts also believe that this exchange has everything that customers need, their main aim is to win the trust of their customers. The exchange stores most of our assets in offline cold storage to keep them safe from any hacking activity.

Features

High security – As I just told you that it stores most of our assets in an offline mode to keep them safe from any cyber attack.

Liquidity – They have high flexibility in their trading orders. All the transactions are completed a lightning speed.

Fees – The platform has a policy of No charges on the basis of your trading frequency. The fee structure of this platform is designed while keeping in mind the customers.

Customer support – Kraken has round-the-clock customer support services. You can call, email, and have chat with them.

Margin Trading – You can do the margin trading with just a few clicks on your desktop.

Charting tools – This platform provides you with some best charting tools. You can check the market movement and fluctuations on these charts very easily.

Corporate social responsibility – Kraken is involved in an open-source grant program that is designed to highlight and elevate great work that’s crucial to helping cryptocurrencies reach their potential.

Also Read : Zebpay Review

Process of trading on Kraken

1. Create an account
First of all, you have to create an account by providing all the details asked by them and setting a password.

2. KYC
You have to fill a KYC form to complete the verification process. For that, you need to provide your name, email id, phone number, etc.

3. Start trading
After completing the two-step verification you start trading in cryptocurrencies supported by the platform. It also offers the combination of virtual currency purchases with traditional fiat currency.

Special features offered by Kraken

The above features are offered by many cryptocurrency exchanges but in addition to that Kraken offers some exclusive features also.

• At a single place, traders can have a look at the summary of all orders placed and alternatives available. There are also suggestions given on how to set prices for market order limits.
• The facility of navigation is also given on choosing your order types. Also, advice and consultation are offered on price terminology, taking profit from limited orders.
• An additional handholding is given for margin trading especially on spot transactions on margin and settling a spot position on margin. There is a facility of glossary of terminologies used in margin trading. This facility allows users, first-time, and experts equally, to settle or close a spot position on margin wisely.
• And advice is given on a trader’s order position vis-a-vis his trade position. That elaborates in detail on how leverage works in spot transactions on margin and usage of the collateral currency.
• The platform also sheds light on the terms restricted to Margin obligation and allowance limits. There are also specific dates and periods mentioned against each margin trading fee.

At last, we can just say that this exchange is the oldest one in the market so it may not have some new features that are provided by new exchanges but as the proverb says, Old is Gold.