With the ever-rising popularity of cryptocurrency today, numerous exchange sites with innovative trading services have emerged. However, not all sites can be trusted. When choosing which exchange to use, you can never go wrong with one that has been in the industry far longer than the others. Among the first and surviving crypto exchanges today is Kraken.
Kraken is a U.S. based cryptocurrency exchange platform that was first founded in 2011. Just like other platforms, Kraken had simple beginnings and was only catering to a small audience. Founder Jesse Powell had planned to create the platform back in 2011, however, it was only formally launched in 2013 after two years of development.
Since then, Kraken has swiftly risen through the ranks and became one of the best crypto platforms in the world. It currently maintains a steady spot in the top 5 alongside other big names such as Binance and Coinbase.
Today, Kraken is making more moves to get ahead in the industry. They officially launched a mobile app in Europe in January 2021 and recently launched it in America this June. Keep reading the sections below to learn more about Kraken and how you can join the community!
Why you should use Kraken crypto exchange
With all of the cryptocurrency exchange platforms out there, what makes Kraken stand out? Read about some of the features you can enjoy and why you should try Kraken for yourself below:
Caters to old and new users alike
Beginners will find Kraken easy to navigate with its sleek design and organized layout. When you pick a market, you’ll find the price chart in the middle with the order book neatly positioned on the right and the order form on the left.
On the other hand, there are plenty of features for advanced traders to enjoy as well! These include opportunities to trade with currency pairs and access to a dark pool where users can make large-scale trades.
Supports both USD and EUR
Most crypto exchange platforms only allow traders to use one fiat currency, but you can use two in Kraken! The platform supports both USD and EUR fiat currencies so simply select which option suits your trading needs best. You can learn more about how to change these settings on the Kraken website.
Offers low transaction fees
Another feature that Kraken users love is the platform’s low transaction fees. The fee will vary depending on how often and how much you trade each month, ranging from 0 to 0.05%
Users can enjoy a wide range of listed cryptocurrencies
You won’t be running out of trading pair options in Kraken because the platform supports over 60 cryptocurrencies and 7 fiat currencies! If you want to buy or sell, you only need to view the full list on the website and click on the specific digital assets you want to learn more about.
Has never been breached or hacked
It has nearly been 11 years since Kraken was first launched and the platform has never suffered any hacking incidents. CEO Jesse Powell has always stressed the importance of security. This is one of the reasons why people favour the platform and can entrust their funds to it.
Offers a bunch of advanced features and articles
While Kraken caters to newbies in the crypto world, it doesn’t forget about its long-time traders either. The platform offers advanced features you don’t normally find in other exchanges such as currency pairs, short sales, stop orders and even a dark pool where users can trade large amounts anonymously!
Dive headfirst into the world of crypto when you create an account with Kraken! The process is easy and you can expect an efficient and seamless experience trading cryptocurrencies here!
How to start trading with Kraken
The best thing about Kraken is that you can easily navigate through its interface whether you’re a beginner or a seasoned trader. To help you get started, see this step by step guide on how you can begin trading with Kraken:
Step 1 – Create an account
On the upper right-hand corner of the Kraken homepage, click the option to create a new account. From there, you will be redirected to another page where you can input the needed information. These include your email address, username and password for the platform.
Step 2 – Set up 2-factor authentication
To ensure the security of your account, you will be asked to set up 2-factor authentication. The platform will send an activation code to your phone or email upon the creation of the account, as well as every time you log in. To double on safety, you can also link your Kraken account to an authenticator app on your phone.
Step 3 – Fund your account
Once you have successfully made your account on Kraken, the next step is to fund your account! You will see an option to ‘buy crypto’ on the upper portion of the screen, so click that and you will be redirected to another page.
Select the currency you wish to use, then execute an order form. Simply fill out the details needed on the order form and wait a few seconds for the transaction to be completed.
Step 4 – Trade cryptocurrencies with ease!
Now that you have set up your account with Kraken and deposited funds into your account, you can now start trading digital assets! All of the features of the platform are at your disposal, so feel free to browse through the windows and see the different cryptocurrencies listed.
Step 5 – Download the Kraken mobile app
When you’re all set up, you can also connect the account to your phone! Kraken supports iOS and Android devices, so you can simply go to the App Store or Google Play and download the app! That way, you can access your account anytime and anywhere with ease!
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