Also Incepted in 2011, Kraken Exchange is now one of the oldest existing and most trusted exchanges in the world. The sophisticated platform, high level of user safety and professionalism in its service. It has allowed Kraken to grow significantly. And become one of the most preferred crypto exchanges in the world.
This Kraken review will provide a detailed outlook of why it is beneficial for users to trade on this platform.
Kraken Review on Safety Features
Kraken Exchange promotes the fact that it is one of the few exchanges. This is due to the reason that Kraken has integrated multiple levels and layers of security on its platform to safeguard the user as well as the exchange itself. Incorporating advanced and sophisticated firewalls along with advanced digital safety measures has exponentially improved the safety aspect of the Kraken Exchange. Few of the measures which the Kraken Exchange uses are.
One of the biggest concerns every new investor or trader should have is the safety offered by an exchange. This is essential to keep in mind because the crypto space is an unpredictable and volatile place, therefore, the risks of buying or trading crypto cannot be completely eliminated.
However, if you choose a secure platform, the risks can be limited to a great extent and you can buy or trade crypto with minimum inconveniences and worries of facing any kind of cyber threat.
Fee Charged by Kraken
As mentioned above, Kraken is arguably the oldest crypto exchange in the United States. It is also one of the lowest fee platforms in the market that has a transparent fee structure, mentioned in detail in this brief Kraken review.
The fee structure of an exchange is one of the factors that should never be overlooked, especially if you are new to the crypto space and looking for an exchange for the first time. There are crypto exchanges with high fee structures that also include hidden or additional charges. This is why you should first take a look at the fee charged by an exchange before you use it.
Know Your Customer
Staking basically means putting the crypto you own in a collective pool or wallet, which then helps you get rewards. This is only achievable on proof-of-stake blockchains and require staked tokens to validate the transaction.
It may be supported by numerous platforms, however, as a beginner, you should only opt for a suitable and safe platform such as the Kraken exchange.
When opening a trading account on Kraken Exchange. It access the legitimacy of funds and source of income. This is done to eradicate the possibility of converting. It has laundered money into legitimate gains.
Regulated by Regulatory Bodies
Kraken is regulated by the American regulatory body, FinCEN. And also by the Canadian, FINTRAC. These bodies ensure that the crypto exchanges carry about their business in a lawful and transparent manner. Their funds are always safe and secure.
For storing the excess of client’s holdings, Kraken Exchange makes use of cold storage so that the holdings are never compromised on. This multi-signature layer adds. It protective layer on to the platform so that the funds cannot be tempered. With through cyber hacking or any other malicious, unethical activity.
Two Factor Authentication
Also this feature requires you to double authenticate the deposits, transfers, exchanges and deposits. Which might harm the funds or seize the functioning of the account. The users get instantly notified when any unauthorized person tries to login to your account.
Kraken Exchange is developed on blockchain technology. So as the technology gets developed and more efficient. The platform becomes more effective and reliable for our users.
Kraken Review on Cryptocurrency Trading
The Kraken Exchange has plenty of benefits for investors which makes it a preferred cryptocurrency exchange.
Purchasing & Trading
You can conveniently buy more than 50 cryptocurrencies on the platform with your fiat money. Also US Dollar, Great Britain Pound, Euro & Canadian Dollar. It can be used from your credit/debit card to purchase cryptocurrency of your choice. A broad range of crypto assets which emerge from different markets. And investors to buy and trade popular or unpopular cryptocurrencies.
Minimal Fee for Trades
Also the investors can obtain a major advantage for low trading fee on the platform. Kraken Exchange’s goal of attracting organizational investments into its platform. It allows the common investors to benefit.
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Kraken Exchange, alongside providing the mechanism for buying cryptocurrencies through fiat money. Also provides its investors the mechanism to convert their fiat money into forex. It also the opportunity to trade in forex. Also right now, Kraken Exchange accepts and offers six fiat currencies.
It leverage trading involves the investor borrowing funds from the platform to make bigger trades and get bigger profits or losses. Kraken offers the investors to do margin trading with leverage up to 5x. Also the leverage differs for various coins with BTC/USD offering the highest; 5x.
It is important to note that that although leverage trading can bring bigger returns. It can also depreciate your investments quickly.
Also when you exchange your cryptocurrency into staking coin. It stake your holdings on Kraken Exchange. Also exchange provides you with benefits and rewards. It note that the platform doesn’t allow staking of all coins. It rewards on staking of coins can differ for various staking coins.
Bonus & Discount
Kraken Exchange provides sign up rewards, percentage discounts, free crypto assets and special rewards. The policies for sign up and special rewards keeps changing to attract investors towards newly introduced coins and currencies.
It Kraken Review explores the safety and trading aspect of the platform. And provides detailed insight to allow beginners to understand more about the platform. Its policies and safety measures.
A Kraken review can help every interested party in determining whether this exchange is suitable for them or not. Therefore, as a potential user you should know that it is one of the best exchanges and offers the above-mentioned features.
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