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Kraken Reviews


Nov 16, 2021 ,

About company

Kraken is a San Francisco-based bitcoin exchange. Its beginnings can be dated directly to 2011, when Jesse Powell, the business’s CEO and founder, visited Mt. Gox, a bitcoin trading company. Mt. Gox’s security was breached, resulting in the loss of millions of dollars in customer assets. Powell was inspired by his experience to establish a bitcoin trading platform that was well-organized, secure, and backed by clients. Kraken was created in 2013, after all.

The firm presently services over 6 million dealers and intends to go public in the future. Members may buy and sell cryptocurrencies for a variety of fiat currencies on its trading platform.

Kraken is licenced and regulated in every country where it does work, including the US (FinCEN), Canada (FINTRAC), the UK (FCA), Australia (AUSTRAC), and Japan (FSA).

Trade Coins

With plans to add additional coins in the future, the exchange now supports 56 cryptocurrencies and seven different fiat currencies. Kraken accepts Bitcoin, Ethereum, Tether, Ripple, Monero, and Dogecoin, among other major cryptocurrencies. US Dollars, Euros, Canadian Dollars, Japanese Yens, Pounds Sterling, Swiss Francs, and Australian Dollars are among the fiat cryptocurrency pairs that users may trade.

Clients can also trade cryptocurrency futures and indexes that follow the market’s overall trend.

Trading platforms

Kraken Terminal

Kraken Terminal is a professional graphical and trading interface, free and available to all clients. Its software is based on the premium trading terminal Kraken Cryptowatch.

The platform offers:

  • An order book and depth chart that visualizes market sentiment, that is, the volume of orders with offers and requests.
  • Toolbar with market menu, time period selector, analysis and drawing tools.
  • A history scroll bar that looks at the price history of the current market.
  • A trade form that allows users to submit orders from the terminal.
  • Watchlist showing selected financial markets.
  • Indicator panels, i.e. volume and MACD
  • Customizable real-time charts


Kraken’s premium trading terminal, Cryptowatch, provides real-time cryptocurrency market data, charting, and investing services on over 25 cryptocurrency exchanges, including Binance, Coinbase Pro, Kraken Futures, and Gemini.

Real-time data gathered directly from crypto exchanges through API covers over 4,000 transaction markets. In its most basic version, Cryptowatch is free to use, but additional premium features can be purchased with Cryptowatch Credits. Credits may be purchased for $ 1 for 100 credits with Bitcoin or a credit card. Each account starts with 250 credits, but users may earn more during onboarding and through the referral system, which the exchange will launch soon.

Free features include:

  • Advanced graphical interface that visualizes price movements and analyzes market trends.
  • Instruments and indicators such as Moving Averages, MACD, RSI and Bollinger Bands.
  • View the history of transactions, orders, positions and balances on exchanges.
  • Trade on several exchanges through one terminal, including on a mobile phone.
  • Alerts on price, volume and technical analysis
  • Trader chat

Premium features include:

  • Around the clock alerts on prices, volumes, technical analysis and order fillings in the form of text and emails.
  • Cryptofinance.ai plugin extracts market data into Google Sheets.
  • Integration with Zapier automates orders and alerts.
  • Market Data WebSocket API

Kraken app

Users may buy, trade, and convert bitcoins using this user-friendly software. To follow prices, manage portfolios, bookmark your favourite cryptocurrencies, make transactions with credit and debit cards, and withdraw fiat money, you may set up two-factor authentication (2FA) and log in.

The software is compatible with Android 8.0 and above, as well as iOS 13 and higher.

Kraken pro

Customers may make pre-orders on the move using Kraken Pro, which provides a professional trading experience. Margin trading with up to 5 leverage, candlestick price charts, and order book display choices are all available in the app. Funding, on the other hand, is not available via the app and must be done through the website. The app does not support 2FA; instead, an API key is used to login to your trading account.

Kraken Pro is compatible with Android 7.0 and higher, as well as iOS 11 and higher.

Kraken futures

With up to 50x leverage on the leading cryptocurrencies, a dedicated app gives you complete access to the Kraken futures system. Kraken Futures allows you to establish entry limitations in addition to the sophisticated order types available in Kraken Pro. Personalized help and instructional resources are also available.

This software requires Android 4.4 or above, as well as iOS 10 or higher.

Deposits and withdrawals

To deposit and withdraw funds, traders must first open an account and have it validated. An account type is assigned to each level of verification. Starter, Express, Intermediate, and Pro are the accessible accounts, albeit the Express account is only available in the United States.

There are several deposit choices and I/O limitations for each verification level. A Pro account, for example, has an unlimited maximum withdrawal limit. Cryptocurrency is also used to determine minimum orders, deposits, and withdrawals. Visit the Kraken website for the most up-to-date information on minimums.

Varying sorts of evidence are required for each account, as well as different verification times. A Starter account, for example, simply requires basic personal information and takes 1 to 2 minutes to complete. Financial details and KYC verification are required for the Pro account, which might take several days.

Cryptocurrency and fiat currencies can both be used to make deposits and withdrawals. Bitcoin, Ethererum, Litecoin, Ripple, and Tether USD are examples of cryptocurrency funding systems. Although cards may be used to acquire cryptocurrencies at the Express, Intermediate, or Pro tiers, Kraken does not accept debit or credit card transactions. A seven-day card limit of € 7,500 applies to card transactions.

Margin trading

Varying spot deals in margin and futures trading have different leverage restrictions. Depending on the currency, Kraken presently provides up to 5x leverage for spot trading. Bitcoin, for example, has a maximum leverage of 5x against the US dollar, whereas Monero has a maximum leverage of 2x against the euro. In bitcoin spot trading, a conservative leverage limit is connected with a high level of risk. Futures trading, on the other hand, gives 50x leverage on most contracts.


If you compare Kraken with competitors like Binance, Coinbase, Coinbase Pro, and Gemini, the exchange has the following advantages:

  • Low exchange fees for Kraken Pro.
  • 50 times leverage when trading futures
  • Choice of 50+ cryptocurrencies
  • Fiat currency trading
  • Requires 3D security
  • Mobile investment
  • Bets


  • High minimum deposits for some cryptocurrencies
  • Slow verification process for Pro account
  • Debit and credit cards are not accepted.
  • No contact phone number of the client
  • Low leverage in spot trading
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