It is always difficult to choose the exchange platform on which to invest: functionalities, registration methods, interface, user fees… We help you by offering a review of the largest exchange platforms. This article is dedicated to the well-known exchange Kraken. We will give you our opinion on Kraken, we will see how Kraken differs from its competitors and why it may be the platform for you.
Mis à jour le 11/27/2023 à 14:01
Kraken is an exchange platform like Binance or Coinbase. Founded in 2011 in San Francisco by Jesse Powell, it is one of the oldest exchanges. It was in 2013 that, after a beta-test phase, the platform opened its doors and offered to exchange Bitcoin (BTC), Litecoin (LTC) and Euro against the dollar.
For comparison, Binance was launched in 2017 !
In 2014, Kraken was the first crypto platform to be listed on the stock exchange (at Bloomberg Terminal). In 2020, it is the first to be awarded an institutional trading charter (SPDI) in Wyoming.
Today the platform operates in more than 170 countries, offers nearly 200 assets and ranks in the top 10 exchange platforms.
The basic application may seem simplistic, but you should know that it is broken down into several elements.
Kraken allows you to buy your crypto-currencies via credit card or bank transfer, and to follow the courses simply, via a watchlist (watch list) and useful information for each cryptocurrency.
Then, one can access trading via Kraken Pro which offers professional trading comfort: a clear market interface with TradingView market forecasting tools. You can trade spot or margin up to x5. You will also have access to a staking section which allows you to save your tokens simply, this on about fifteen assets.
For higher leverage, you will need to turn to the Kraken Futures app available in a limited list of countries. Here you can bet up or down with leverage up to x100. However, be aware that you can lose your capital very quickly. Leverage is very risky.
In 2017, Kraken acquired Cryptowatch and gradually integrated it into its ecosystem. Thanks to Cryptowatch, you set alerts on the price of cryptos, and you ensure a “scalpel” entry into the markets.
Most of the world’s crypto markets are referenced on Cryptowatch.
Aimed at the most seasoned traders, this tool is incredibly powerful.
Kraken is renowned for its responsive and efficient customer support. For big carriers, the exchange even offers a one-stop advisor and crypto trading aids.
Of course, not all features are accessible to everyone, but for large investors (above $100,000), Kraken is a very reliable solution given the quality of support available.
Kraken and institutional trading
Kraken offers institutional trading : indeed, thanks to its stock market listing and its license in Wyoming. The trading platform is legitimate for offering trading to institutions (banks, states, communities, etc.). It promises tailor-made service, 24/7 support and flawless security as well as liquidity solutions (how to buy or sell large sums without moving prices too much).
Kraken registration is done via your email address, you will need to register a username and password to access your account. The possibilities will then be quite limited if you do not submit to KYC identity checks.
Kraken offers 3 levels of verification :
All you have to do is buy or transfer cryptos and start growing your capital !
We recommend carrying out the KYC identity document verification in order to access the full potential of the site !
The cost of buying stablecoins in fiat or another crypto (which can be done on Kraken) is taxed quite heavily between 0.9% and 1.5%: be sure to only make this transaction once only once to fund your account so as not to multiply the costs!
Service charges are also applied depending on the type of transfer: 3.75% + €0.25 for a bank card, 0.5% for a SEPA bank transfer.
Next come the trading fees on Kraken Pro: they start at 0.16% (Maker/Buy) and 0.26% (Taker/Sell), then are decreasing according to the volume of monthly trading (the second level starts at $50,000 monthly trading).
Fees can be high if not done in the correct order, so you will want to buy or transfer crypto to Kraken and then use Kraken Pro for your trading and staking.
Kraken is perhaps one of the most secure platforms in the cryptocurrency sector and their seriousness may appeal to you. Indeed, being listed on the stock exchange and having an institutional trading license, the exchange is placed at the top of the basket.
The platform is ultra-secure and you have little risk of seeing Kraken disappear overnight. You have all the guarantees to get started on this centralized platform.
Launched in 2011, Kraken is already a crypto behemoth, but it has been able to modernize and remain in the top 10 exchanges in 2023.
Its interface is quite different from that of its competitors. It is quite clear and has a lot of technical information about cryptos. The fact of having to juggle between Kraken, Kraken Pro and Kraken Futures can destabilize the most novices, but that fits into the logic of the application.
The level of security and regularization is very high on the platform, Kraken is completely safe for large wallets for example.
The exchange may lack functionality for some, but in any case it does not disperse and goes straight to the point. Which can also be an advantage !
Finally, the fees are rather high, in the high average of crypto exchange platforms. But in return, the customer support is very responsive to the point of offering private advisors for large investors.
⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and shall not be held liable, directly or indirectly, for any damage or loss caused as a result of using any goods or services highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Web editor for many years and SEO specialist, Thomas became an editor for InvestX when the site was launched. Passionate about the field of crypto and Web3, Thomas has made it his mission to deliver maximum value and introduce readers to the world of blockchains, considered for him as the world of tomorrow.
Risk Warning: Trading financial instruments and/or crypto-currencies involves high risks, including the risk of losing all or part of your investment, and may not be suitable for all investors. Crypto-currency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. Trading on margin increases financial risk.
Before deciding to trade in financial instruments or crypto-currencies, you should be fully informed of the risks and fees associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and tolerance for risk, and seek professional advice if necessary.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
