One of the most popular crypto exchanges you will come across as you step into the crypto space is the Kraken exchange. This is not only well-known but is also one of the oldest and most trustworthy exchanges in the market.
It is a US-based crypto exchange and was established in 2011. It is one of the best options for people who are interested in buying or trading crypto, whether they are new or experienced.
Apart from a few countries, Kraken extends its services to all others all over the globe. It has a wide customer-base and offers some of the most distinctive features that grab the attention of crypto investors and traders.
If you are also new to the crypto space and intend on using this platform then here is a brief Kraken review that focuses on the major features of the platform.
Kraken Review on Dark Pools
The Dark Pools feature offered by Kraken is one of its most unique features that sets it apart from all other exchanges. This is an extremely helpful feature for people who want to place anonymous orders.
This feature allows the traders to place anonymous orders in the market. The reason these types of orders are called Dark Pools is because they are only known by the traders who place them.
Safety and Security Offered by Kraken
Kraken is undoubtedly one of the safest crypto exchanges in the market. No exchange is ever the most secure because there are security risks in buying or trading crypto. However, the risks can be mitigated to a great extent if the people opt for an exchange that makes use of high-end and leading-edge security systems and prioritize the safety of the accounts and funds of the users.
Since the security offered by an exchange is one of the topmost features you should consider, this brief Kraken review talks about the various technologically advanced security systems it offers.
- Use of offline crypto wallets
- Two-factor authentication (2FA) system
- KYC verification required for opening an account
- Kraken Master Key
- Global Settings Lock (GSL)
- Advanced blockchain technology for trading platform
The trustworthiness of the Kraken exchange is further validated by the fact that it is a regulated and licensed crypto exchange by regulatory bodies:
- FINTRAC in Canada
- FinCEN in the USA
Low and Transparent Fee
Whether you want to use an exchange for buying crypto or trading it, it is important that you take your time and look through the fee structure of the platform. Every exchange charges a fee that you have to pay, which includes trading, withdrawal and deposit fee.
However, a suitable exchange is the one that offers a low and transparent fee, without any hidden charges. This Kraken review mentions the details of the fee it charges, which is known to be one of the lowest in the market. This is why a large audience is attracted towards the platform, including institutional investors.
The trading fee charged by the exchange is based on the market maker and taker model, the details of which are mentioned below.
- 0.0200% market maker fee
- 0.0500% market taker fee
Variety of Digital Assets Available
Another outstanding aspect of the exchange mentioned in this brief Kraken exchange review is the variety of digital assets that is available for the users. An exchange that offers support to a wide range of digital currencies grabs the attention of a larger audience, as they have the option to invest into any kind of crypto asset, including the coins with small market cap.
The Kraken exchange also offers a variety of coins to the users as it offers support to more than 50 digital assets. The users can exchange, buy, trade, sell or even hodle any of these assets. You can also exchange fiat currencies such as Canadian Dollar, GBP, USD and Euro into any of the available cryptocurrencies.
Feature of Staking
Staking is one of the most prominent and distinctive features offered by any exchange. This feature is not supported by all crypto exchanges in the market as it is only available on proof-of-stake blockchains. Therefore, if you are interested in opting for this feature, make sure that the exchange you choose is capable of supporting it.
Staking means that as a crypto owner you can put the crypto you have in a collective pool or crypto wallet, which will result in rewards and benefits for you. Staking requires staked tokens to validate the transactions. It is also important to know that not all coins can be staked.
Conclusion!
Knowing about some prominent details of an exchange is one of the most important and helpful things for people who are new to the crypto space and want to choose a platform. And get today breaking news This can help them make an informed decision. Therefore, as a beginner, the details mentioned above in this Kraken review can give you a good idea of whether it is a suitable exchange for you or not.
