Kraken was founded in July 2011 by Jesse Powell to offer a professional platform for trading bitcoins. It is known as the largest bitcoin exchange in liquidity and Euro volume. Initially, it started with a focus to cater to European bitcoin traders but has over the years diversified to worldwide market.
Sophisticated security features
Beginner friendly platform
App version available for IOS and android devices
Customer support takes long to respond
Verification takes long
Downtime when many users are on the platform
Kraken offers high volume trading and liquidity in Euro market. However, Bitcoin/USD trading usually lags behind in comparison to Euro/bitcoin trading . It also supports margin trading. Bitcoin is the highest traded crptocurrency on the platform
Kraken has established itself as one of the safest exchange platform. The founder created it after an attempt to help MtGox recover from a hacking attack therefore he was deliberate about putting in place sophisticated security measures. Kraken went on record as the first company to put in place a cryptographic verification process of reserves. Most of the bitcoins are stored offline in cold storage to optimize security. In addition, kraken servers are held rooms fortified with armed guards, cameras, retina scanners and video surveillance.
Kraken allows trading of a wide range of cryptocurrencies including Bitcoin, Ethereum, Classic, Monero, Dash, Dogecoin, Zcash, DAO, Iconomi, Stellar, Ripple, Augur and Fatcom.. Traders can trade in both fiat currencies and digital currencies. Acceptable fiat currencies are US dollar, Canadian dollar, GB pound, Euro and Yen.
Trading fees vary depending on the type and volume of cryptocurrencies being traded. In some cases, traders are required to pay deposit fees. Notably, it is one of the exchanges with the lowest transaction fees.
Kraken software is highly rated for its professional yet simple to use interface to enable beginners easily navigate the platform. There are additional advanced templates for the adept traders.