Kraken - Review
Located in San Francisco and launched in 2011, Kraken is a trading platform for Bitcoin and most high-volume cryptocurrencies, considered to be one of the largest Bitcoin exchanges on the web today.
Kraken serves users worldwide (mostly in North America and Europe) and support buying Bitcoins and other Altcoins using a bank transfer with US/Canadian Dollars, Euro and Japanese Yen.
Currently Kraken is known to be the most secured platform on the web and it was never been hacked or compromised (yet).
The site's interface is not the first option we would suggest if you're new to Bitcoin, but even though it’s not so beginner friendly, you will figure out how to use it eventually.
- Great platform for intermediate and professional traders.
- Support for a wide range of known cryptocurrencies and fiat currencies.
- Very low fees.
- No deposits fees for Canadian Dollar, Euro and Japanese Yen.
Sign Up Process
Signing up process is simple and quick. After signing up you are required to go through a verification process which is fairly simple in order to withdraw above 2500$.
As for fees, Kraken's fees are tier-based which means the more volume you trade the lower your fees are. Overall Kraken fees are extremely low and can compete with any other exchange or broker.
Pros and Cons
- Supports US/Canadian Dollars
- Supports most high-volume cryptocurrencies.
- Advanced trading options.
- Not beginner freindly.
- Supports buying only using wire transfers
Although Kraken charges low fees, it's not the first place we recommend if you are new to Bitcoin. In case you're an intermediate or a professional trader, Kraken would be a great option for you.