Kraken - Crypto Exchange

Kraken is one of the most popular cryptocurrency exchanges. It is in first place in terms of trading volume in the BTC/EUR pair. The Kraken exchange is owned by Payward Inc.
The exchange is not controlled by any supervisory authority, but this is a standard situation in the world of cryptocurrencies (at least for now).
Kraken has managed to gain the trust of users. No successful hacker attacks on the exchange were recorded. In addition, Kraken was chosen as the platform through which users who fell victim to the Mt.Gox scam could claim the lost funds. Mt.Gox was a huge Japanese bitcoin exchange that filed for bankruptcy in 2014 after a series of dubious incidents. The company was placed under special management, and Kraken acted as a trusted partner to process payments to creditors.
Kraken stores most of its assets in cold wallets, of course, except for those that are directly used to support trades.
It is worth noting that users leave not only positive reviews about the exchange. Complaints range from slow deposit processing and difficulties in communicating with customer support to incorrect execution of stop-loss orders.
On Kraken, you'll find quite a few trading tools. First of all, Kraken is known as a platform for trading Bitcoin and Ethereum against fiat (USD and EUR), however, altcoins are also present.
Kraken only provides leverage for a few instruments. Its size varies from 1:2 to 1:5. Short trading is subject to a fee ranging from 0.01% to 0.02% depending on the instrument. The commission is debited every 4 hours.
In addition, there is a fee for bidding. Its size depends on the trading volume of the last 30 days and the role you play in it: from 0% to 0.16% for makers and from 0.1% to 0.26% for takers. This amount of commissions corresponds to the average market rate.
The TradingView interface is used to build charts. This means that you will always have access to a wide range of technical analysis tools. The chart opens in an additional window that you can move and change as you like. In addition, Kraken has a decent mobile app that is currently only available for iOS users.
You can deposit fiat on the exchange only by bank transfer. Traditional payment methods such as credit cards, PayPal or Skrill are not supported. In addition to fiat, you can use cryptocurrencies to replenish your account.
There are 4 levels of verification available on Kraken. It only takes a few minutes to complete the first two levels. Higher tiers require more time, especially in light of the slow work of the support team.
Tier 1 – digital currencies can be deposited/withdrawn. Both digital and fiat currencies are available for trading. The size of the deposit is unlimited. You can withdraw up to $2,500 per day and up to $20,000 per month in equivalent. To pass this level of verification, it is enough to provide your name/surname, date of birth, country of residence and confirm your phone number.
Tier 2 – By providing your address, you will be able to deposit, withdraw and withdraw fiat via bank transfer from a European bank account (SEPA). You can deposit and withdraw fiat up to $2,000 per day and up to $10,000. Increase Limits for cryptocurrencies as well: you can withdraw up to $5,000 per day and up to $50,000 per month.
Tier 3 – To increase your deposit and withdrawal limits, please provide proof of identity and proof of the address you provided in Tier 2. In fiat, you will be able to deposit and withdraw $25,000 per day and $200,000 per month. In cryptocurrency – deposit without restrictions, withdraw – $50,000 per day and $200,000.
Tier 4 – If the Tier 3 limits seem too low for you, you will need to contact support to agree on the possibility of increasing the limits: $100,000 per day and $500,000 per month for deposits, withdrawals and withdrawals of cryptocurrencies.
Kraken is an American cryptocurrency exchange. At the same time, the company serves a large number of European users, thanks to which Kraken owns the largest BTC/EUR market. Kraken has gained the trust of users and has not been seen in the "shady" affairs that happen from time to time in the world of cryptocurrencies. The trading platform is rich in technical analysis tools. Commissions correspond to the average market rates.