If you are new in kraken for crypto investors and you are wondering whether to register and start trading with Kraken, then you are at the right place. Investing through a crypto exchange is very easy and convenient.
Considering the fact that you will enjoy robust security and your digital assets are stored where you can easily access them for online payments. What’s Kraken? How do they operate? What coins can you trade or invest in? We will answer all of these questions in this review. Let’s dive in!
Kraken is one of the best crypto exchanges in the world. It was launched in 2011 in Francisco for both experienced and newbie investors to be able to trade and invest in the global crypto market. Kraken boasts of customers in most countries of the world, including Canada, South Africa, the United States, Australia, and New Zealand.
It parades a knowledgeable and experienced customer support team that works round the clock looking out for customers’ complaints to resolve.
Kraken has a user-friendly interface and comes with easy-to-use functionalities. Even if you are not tech-savvy, you will be able to use Kraken to send, receive, and transfer different cryptocurrencies to your friends, family members, and even business associates.
In terms of trading fees and pricing, Kraken charges one of the least fees in the industry, at least compared to what other exchanges charge.
Who Should Use Kraken?
Kraken is a perfect crypto exchange for new investors or traders who want value for their money. It is also perfect for those who want to learn crypto trading from scratch and perfect their trading skills to earn a profit from different trading strategies.
Considering that Kraken boasts lower trading fees, top-notch security, and a long list of supported cryptocurrencies, you will enjoy a seamless trading experience.
Kraken is also meant for crypto investors or crypto enthusiasts who place a premium on security. Kraken uses advanced encryption technology to secure investors’ funds.
It also leverages 2FA to further secure depositor’s funds. If you have an account on Kraken, your mind should be at rest knowing that the exchange has your security in mind.
Coins You Can Trade on Kraken
You can trade different cryptocurrencies on Kraken. Some of the coins supported by Kraken include: 0x (ZRX), Aave (AAVE), Aavegotchi (GHST), Algorand (ALGO), Bitcoin (BTC), Ethereum (ETH), Ankr (ANKR), Aragon (ANT), Augur (REP), Augur v2 (REPV2), among others.
If you are interested in trading stablecoins like DAI, USD Coin, and Tether, you will find them on Kraken. The exchange also supports a number of fiat currencies, including USD, CAD, Yen, and Swiss.
With the volatile nature of the cryptocurrency market, it is important that you trade or invest in cryptocurrency with an exchange that has superior security; otherwise, you may lose your money to fraudsters or internet hackers.
In the past, we have read in the news how cryptocurrency exchanges were hacked and millions of dollars in cryptocurrencies were stolen by the hackers. You don’t want to find yourself in such a situation; as such, you need to register on an exchange like Kraken, which places a priority on security.
Ease of Use
The ease of use of a capital currency exchange is another good consideration when looking for an exchange to invest in cryptocurrencies and other digital assets. With Kraken, there are no entry barriers when you intend to register for an account on the platform.
Kraken also has an easy-to-use user interface where you can easily register for an account, deposit money into your account, send any cryptocurrency of your choice to your friends or family members, and also receive crypto assets from your friends or associates from anywhere in the world.
Robust Customer Support
Kraken is one exchange that you will enjoy engaging and rewarding customer service. The exchange parades some of the best customer support representatives that the industry boasts of. Whether you are a newbie trader or you have been on the market for some time now.
A kranken customer support representative will hold you by the hands and walk you through any difficult situation that you may encounter in your journey to becoming a professional cryptocurrency trader.
The exchange also offers different communication channels where crypto traders or investors like you can quickly and easily reach out to the customer support without any challenge. You can reach out to the customer support team through email, live chat, as well as mobile phone communication.
Signing Up For a Kraken Account
The account sign up process is easy and quick. The process takes less than two minutes to complete so far you have all your information handy. Some of the information that you will provide during the sign up process include your name, social security number, phone number, and your house address.
This crypto exchange will use your personal information to build up a Know Your Customer (KYC) profile. The Know Your Customer protocol is a requirement that most governments of the world require in order to permit financial transactions.
To access all the trading futures on this exchange, as well as to verify your account, you will provide additional information by uploading a government-issued ID or a passport showing your personal details.
Pros and cons
Kraken supports more than 120 cryptocurrencies; It boasts of superior user-friendly interface and security of funds; Excellent customer service options; Relatively and competitive trading fees; Kraken supports crypto staking and margin trading; Different educational materials to boost your knowledge of the cryptocurrency industry. And the Cons is the exchange charges a high fee when using Kraken Pro.
Kraken leads the crypto exchange space in many fronts: it boasts of superior security, excellent customer support, and low fees. If you are interested in trading the crypto market, Kraken is the perfect exchange to start with.