Kraken Review
If you are looking for a one-stop solution to all your cryptocurrency buying, selling, and trading needs, you must give a shot to Kraken. This amazing online platform has all the features that you need to start your trading career in cryptocurrencies. Cryptocurrencies have been the talk of the town for some years now. Due to the current condition of the world, you can say that cryptocurrencies will be becoming more popular in the coming, which provides you with a perfect reason to invest your money in the cryptocurrency. Now might be the right time for you to take advantage of the digital assets.
Now, before you try your trading skills in the cryptocurrency market, it makes full sense to find the right platform where you will be helped by your service provider with all your trading needs. Keep in mind that even if you are an experienced trader, you cannot survive in any financial market unless you find the right platform. So, Kraken is serving millions of customers from around the world, especially people who are interested in trading cryptocurrencies. Whether you want to buy cryptocurrencies or sell them, you can use this platform in a variety of ways to your benefit. Let’s find out why you will love it just like other investors and traders in the online cryptocurrency trading market.
Kraken – More than an Exchange
The first thing you have to know about this online cryptocurrency buying and selling platform is that it is much more than a regular cryptocurrency exchange that you get to see on the internet. There are many platforms on the internet where you can go and sell and buy cryptocurrencies. However, when you talk about Kraken, you are looking at a completely different beast. You will be provided a variety of services type when you sign up with this exchange. In addition to being an exchange where you can sell cryptocurrencies and buy them, it also serves you as a trading platform.
Now, what’s the difference between buying and selling cryptocurrencies and trading them? You will be surprised to know that there are many differences and just because you like one you might not necessarily like the other one. When you buy and sell cryptocurrencies, you do exactly that. However, when it comes to trading, you are not always taking control of the assets that you are purchasing or buying. In other instances, you are not buying anything on the spot. For example, when you sign up with Kraken, you will notice that you can trade futures as well.
Futures trading is completely different from conventional trading of assets in the financial markets. So, when you trade futures, you are not trading the asset right away. Instead, you are defining a price and a date at which you will buy or sell a particular asset. Now, since you have entered an agreement with the buyer or seller, you will have to buy or sell the asset at the pre-defined price on the pre-defined date no matter where the price of that asset is in the market on that particular day. For this reason, futures are considered a perfect instrument for hedging your investments. You can trade futures when you sign up with Kraken.
In addition to that, you can use Kraken for buying and selling cryptocurrencies in the normal and ordinary way. If you have fiat currencies, you can use them to buy whatever cryptocurrencies you are interested in. At the same time, you are allowed to use the cryptocurrencies that are accepted by Kraken for buying other cryptocurrencies. You are the one who has to make all the buying and selling decisions so you will decide what you want to buy and what you want to sell.
Fund Your Accounts with Ease
With an online cryptocurrency like Kraken, you will feel very relieved when it comes to depositing money in your account. You have to know that there are hundreds and thousands of online brokers that provide you with online trading services. However, when it comes to depositing money in your online trading accounts, some of them can prove to be a pain in the neck. That’s not going to be the case when you sign up with Kraken. This online exchange will take care of your interests and ease to provide you with options that fit well in your lifestyle and are easy for everyone in the market.
What you are going to love about this exchange is that you can fund your account with Kraken with a variety of currency types. Usually, you are limited to two or three currency types that you can use to fund your account. If you think about any other currency than the one your online broker accepts, you have to convert the currency first into the acceptable currency and spend a lot of money in conversions. That’s not what you will have to do when you sign up with Kraken. With this online exchange, you will be able to fund your account with CHF, GBP, JPY, CAD, and USD. These are some of the major currencies of the world and you can use the one that suits you best.
That’s not it, you can now use cryptocurrencies to fund your account too. That’s an option that you usually do not get from online brokers. They do not let you fund your account using cryptocurrencies. If they do, there is only one cryptocurrency they accept, which is Bitcoin. You will not have to worry about this particular issue when you sign up with Kraken. This online exchange allows you to deposit many different cryptocurrencies in your account. You can deposit Bitcoin, Ethereum, Monero, Litecoin, Cardano, and many others in your account.
The best thing about transferring money through cryptocurrencies is that you don’t have to pay high fees for the transfers. In addition to that, you will be able to trade with the money you deposit in your account within minutes. However, if you deposit fiat currencies, you might have to wait for at least a day before you can see the amount appear in your account.
You Can Trade Indices
This is something you will only find on Kraken. When you go on online websites, which could be brokers or other exchanges, you don’t normally see cryptocurrencies being traded in any other format. However, with Kraken, you will be able to trade your cryptocurrencies in the form of indices as well. When you trade indices, you are actually trading many different cryptocurrencies in a bucket. The value of the indices is calculated using certain formulas. You will find all the information about indices trading on the website of the service provider. You will be glad that you can trade many different cryptocurrencies as just one asset.
It is important to mention here that the indices you will trade with Kraken come from CF Benchmarks. You can view their website to get more information about indices and what their prices are in real time. In other words, when you sign up with Kraken, you have more than one way to trade cryptocurrencies.
Learn before You Trade
You will usually expect this from online brokers. They always provide you with all the training you need before you put your money on the line. Of course, you have to learn about cryptocurrencies and how you can trade them before you put your money in them. However, it is quite unfortunate that most online platforms provide you with trading information only. When you are looking for cryptocurrency trading specific information, you find none. While getting some basic knowledge about trading does you no harm, it really does not provide you with any help in trading cryptocurrencies.
On the other hand, when you sign up with Kraken, you will get all the education and training you need to understand cryptocurrencies and how you can trade them. If it is your first time trading cryptocurrencies, you are highly recommended to take advantage of the training material from Kraken to learn about cryptocurrencies and how you can benefit from trading them. You will learn a lot about the basics of cryptocurrencies and all about Bitcoin. You will also learn about all the online resources that you can use for trading, buying, and selling cryptocurrencies. All the information that you get from is going to help you a great deal in your cryptocurrency trading experience.
Trade with Leverages
There is nothing better than leverages when you are trading in financial markets. Leverages allow you to get a lot more control of over the trades that you cannot pursue with the amount in your account. When you talk about leverage, you are referring to your broker or exchange providing you with money so you can enter bigger trades. Without leverage, you cannot enter large trades because you don’t have enough funds in your account. However, when there is leverage from Kraken, it means you will have more money to put in a trade. It also means that you will be able to buy more units of a cryptocurrency, and thus amplify the profits if you are able to make a successful investment.
It is totally up to you how you want to trade. Just because the exchange is there to help you with your trades in the form of leverages does not mean it can control the trade on your behalf. You are still in charge and can take decisions that you think will be in your best interest. If you look at the website of Kraken, you will notice that you are getting 1:5 leverage on your trades. This will allow you to control some big trades without losing all the money in your account. Do keep in mind that you are getting this leverage on cryptocurrency trading, not some regular assets with small values.
You can visit the Kraken website if you want to know more about leveraged trading. Do keep in mind though that the online exchange uses a different term for this type of trading, which is margin trading. You get this type of trading options from online brokers as well. However, you will never be able to get them on so many different cryptocurrencies. That’s what sets Kraken apart from its competitors. When you sign up on this exchange, you can say that you have access to the core of the cryptocurrency market through more than 30 different cryptocurrencies. Dash, Bitcoin, Ethereum, Tron, Augur, Tether and Monero are just some of the cryptocurrencies that you can trade with Kraken with leverages.
You have to keep in mind at this point that there are fees associated with leveraged trading. However, the fee of just 0.02% is so small that you will be able to walk away with most part of the profit that you make on your trades.
The Maker and Taker Fee
When you start trading cryptocurrencies, you have to know about the maker and taker fee as well. When trading cryptocurrencies, you can either be a taker or a maker. When you place an order that gets filled instantly, you are the taker in this particular case. However, when you place an order that does not get filled instantly but after a certain duration, you will be considered the maker. The fees for the maker and taker are usually different on different exchanges. You will usually always benefit when you are the maker. The best thing about Kraken, is that it makes things pretty affordable for you no matter which side of the trader you are on.
If you are trading anything below $50,000, you will have to pay only 0.16% as a maker. On the other hand, for the same order, the fees that you have to pay will be 0.26% if you are the taker. This particular difference continues for as long as you continue to increase the size of your trade. If you compare these fees from Kraken with the fees you are charged on other online cryptocurrency exchanges, you will notice that Kraken is definitely more affordable than they are.
A Very Impressive Asset Index
There is a huge challenge you will face when you decide to buy, sell, or trade cryptocurrencies, which is of finding an online platform where you can trade many different cryptocurrencies. When you look at online brokers, you will see that they usually offer a very few pairs of cryptocurrencies for trading on their trading platforms. In many cases, they are limited to the big cryptocurrencies like Ethereum and Bitcoin. Even the most recognized and regulated brokers are quite limited with the options they provide you for trading cryptocurrencies. This makes you limited in your investments, and for those who have been trading for some time, their idea of diversifying their portfolios gets killed.
However, when you sign up with an exchange like Kraken, you will have enough options for you to trade. You have a variety of cryptocurrencies for trading and you can enjoy leverages on them all. First of all, you can trade the major cryptocurrencies just like you can trade major fiat currency pairs on just about any online exchange. So, Bitcoin, Ethereum, Monero, Ripple, and Litecoin will always be there for you to trade. However, with a trusted platform like Kraken, you have many other cryptocurrencies available for trading. You can trade, Gnosis, Waves, Lisk, Qtum, ICON, Dogecoin, USD Coin, Dash, Cosmos, and many other cryptocurrencies that you don’t find on any other online platforms.
You can already imagine how much money you can make by trading these cryptocurrencies if you know how to trade. Of course, you can use the training material on the exchange to learn about cryptocurrency trading. You can always take up online courses from other online parties to get a grip on trading.
Have a Sense of Security
The most important concern for any trader is security. There are many different types of online platforms that you can use for trading. However, there are just as many platforms that are there only to snatch the money away from you. Think about the many online Bitcoin trading platforms that claim to be the best bots out there. Their claims show that you can make millions of dollars with them without spending a lot of money. Within a few months, you are supposedly going to turn into a millionaire when you trade on these trading platforms. However, when you go into the details of things, you realize that there is nothing in this type of trading for you.
You will only be signing up on a dummy platform that provides you with nothing that you could call trading. In addition to that, you have some brokers that provide you with no security when you trade with them. If an online broker does not ask you for your personal information strictly when you are signing up, you can be sure that they are only about to scam you with your money and information. When you look at Kraken, you will be glad that you can have a sense of security while trading cryptocurrencies and buying and selling them with Kraken.
This platform is fully protected in every way possible. For example, when you provide your information on the website, you can have peace of mind that it will be encrypted straight away. The information you provide gets encrypted and can’t be read by anyone who tries to reach it. That’s not it, one of the biggest problems with online exchanges is that they have had some really bad incidents in the past. Many online exchanges lost millions of dollars worth of cryptocurrencies of their investors because their security protocols were not good enough. However, you will not have to worry about these issues when you are with Kraken.
This online exchange provides you with security in every form. When you buy a particular cryptocurrency on this exchange, it gets stored on the online wallet. The money that you have stored with the exchange is protected through cold storage. The safest way to store cryptocurrencies is to store It offline and that’s exactly what Kraken does because it understands the risks and dangers of the online cryptocurrency industry. In addition to that, you will be glad to know that the servers that the online exchange uses are kept in secured spaces that are being guarded at all times.
There is a team at Kraken that is always working on finding out about any attack before it takes place. This is done through penetration testing and you will not see such strict security protocols on other online exchanges for cryptocurrencies. You can have true mental peace when you sign up with this online crypto exchange.
The Support That’s There Round the Clock
It is amazing that Kraken has found out a very weak spot in the online cryptocurrency trading industry. Do you know that many online exchanges rely on their frequently asked questions sections on their websites for providing you with help? Yes, when you need some help, you will only have access to this section where you will have to find the answers to your questions yourself. Yes, it sounds great but at times, you need immediate help. You don’t get immediate help because there are no live help options available on these online exchanges.
Kraken is one of the rarest online cryptocurrency exchanges that have support for you round the clock. Yes, when you have a problem, you can get help from the company at any given time of the day or night. You will get 24/7 customer support from Kraken. The best thing is that you just need to land on the website and there is live chart support available to help you with your concerns.
Final Thoughts
If you are thinking about signing up with an online exchange, you should definitely put Kraken on your list. This online exchange is safe and trusted by millions of people from around the world already. It has some great trading options, an easy way to buy and sell cryptocurrencies, and some pocket-friendly fees and rates to help even the newest traders in starting their trading careers. Last but not least, find an issue with Kraken trading platform and you could win a bounty from the exchange.
Kraken Exchange Rating
