An In-Depth Look at Kraken Exchange
One of the most prominent cryptocurrency exchanges in the market today is Kraken. Founded in 2011 by Jesse Powell, Kraken has grown exponentially over the years. In this article, we'll delve into the features and facts that make Kraken a go-to platform for both seasoned and novice crypto traders.
History and Background
Kraken was founded with the vision of providing a secure and feature-rich platform for cryptocurrency trading. It officially started operations in September 2013 and has since then gained reputation for its security measures and trading options.
Key Features
Kraken offers a wide array of features that cater to various needs of cryptocurrency traders:
- Security: Kraken is known for its robust security features, including two-factor authentication, cold storage for the majority of funds, and encrypted data storage.
- Supported Assets: Kraken supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, as well as fiat currencies such as USD, EUR, and CAD.
- Trading Options: In addition to regular trading, Kraken also offers futures and margin trading for users looking for leverage and more advanced trading strategies.
- Global Availability: Kraken is available globally with only a few exceptions, making it accessible to a large audience.
Fees and Trading Pairs
Kraken operates on a maker-taker fee schedule, which encourages market liquidity. The fees decrease as the user’s trading volume increases.
30-Day Volume (USD) | Maker Fees | Taker Fees |
---|---|---|
< $50,000 | 0.16% | 0.26% |
$50,000 - $100,000 | 0.14% | 0.24% |
> $100,000 | Reduces progressively | Reduces progressively |
Kraken’s Contribution to the Crypto Community
Kraken has made significant contributions to the cryptocurrency community. Notably, Kraken was actively involved in helping recover funds from the Mt. Gox collapse in 2014. Moreover, Kraken is a prominent advocate for cryptocurrency regulation and plays an active role in shaping the industry’s landscape.
Customer Service
Kraken's customer service is available 24/7, offering support via chat and email. They are known for being responsive and helpful for various user inquiries and issues.
Conclusion
With its robust security, diverse range of supported assets, and a multitude of trading options, Kraken stands as one of the leading cryptocurrency exchanges. Its commitment to community development and customer service adds to its reliability and trustworthiness in the ever-evolving cryptocurrency space.