Kraken exchange is also a well-known exchange for trading cryptocurrencies. It has been active for nine years and is one of the first exchanges that paved the simple method for payment with minimum fees. The company began its journey in San Francisco. Having its operations worldwide, Kraken is among the world’s largest cryptocurrency exchanges. More than 4 million traders around the world have trust in this exchange. Today, I will let you know more about this exchange and will also let you know whether it is a safe exchange to trade your cryptocurrency or not. So please follow this blog till the end.
More About Kraken Exchange
Jesse Powell is the person who started with the Kraken project after the release of the security breach report of the cryptocurrency exchange Mt. Gox. Kraken. The motive behind the development of Kraken exchange was to find the substitute of Mt. Gox. It came with the announcement of ceasing operations by Mt. Gox in 2014. After five years, the exchange made to 90 billion dollars’ volume. More than 4 billion users were known to have used it worldwide.
In the era of the internet, Kraken ranks among the best platform for trading cryptocurrency. To trade on this exchange, users have to use fiat currencies with cryptocurrencies. The dollar and Euro are supported by the government of their country. These are for trading popular cryptocurrencies like Bitcoin and others on the Kraken exchange platform.
Acquisition Of Essential Tools By Kraken
A trader must need to have trading tools as well as market data for taking the right step. The availability of well-reputed tools on Kraken exchange lets a trader with a better trading experience. Now you will wonder which tools I am talking about. These tools came into existence during 2016. These were Cavirtex and Coinsetter that came during the beginning of the latter year, followed by CleverCoin in mid-phase, and in the fourth quarter, American Glidera came into being.
In 2017, Kraken company acquired CryptoWatch for its platform to provide several trading charts. The company even decided on cryptocurrency data access through Google Sheets. And for that, in 2019, Kraken acquired the Cryptofinance.ai for this need. Apart from it, the company even grabbed a cryptocurrency portfolio reconciliation solution interchange to declare its worth in the crypto world as an ultimate service provider.
Why Choose Kraken Exchange?
The reason to choose Kraken exchange for crypto trading is based on valid points. One of the best reason that states for choosing it are the minimum fees beginning from 0.26%. Also in terms of expanding liquidity, Kraken exchange fares well at high trading volume. Donning more other advantages include the availability of around 30 digital assets and the opportunity to trade with top fiat currencies like CAD, EUR, JPY, GPB, CHF, and USD. Besides this, Kraken also facilitates its users with 24/7 customer support for guiding you on any queries. Lastly, it also has the availability of future trading and margin trading.
Do your own checks on forex providers
Different forex products involve different risks. Read the (PDS) carefully before investing. Check that the forex provider has an Australian Financial Services (AFS) Licence. ASIC Connect’s Professional Registers will tell you if they do.
Is Kraken Better Than Its Competitor Exchange Binance?
Both Binance and Kraken are well-known cryptocurrency exchanges. But one cannot resist the curiosity to know who is better to whom. Well, to begin with, the Binance exchange was founded in 2017 by Changpeng Zhao and needs no special introduction as it already a big name for its use for crypto trading. This exchange is known to provide around 20 crypto coins and benefits its traders, worldwide. To begin with your trading on the Binance platform, you need to buy coins from other exchanges, as it is an exchange for trading between crypto to crypto.
Coming to Kraken exchange, it is much older than Binance as it came into being in 2017, founded by Jesse Powell. The main motive behind the launch of this exchange was building a transparent trading platform supported by blockchain technology. Unlike Binance, this cryptocurrency exchange is open for trading between crypto to crypto as well as with fiat currencies. Hence, you can begin your crypto trading from here. What makes Kraken exchange the best is its preference among the experienced crypto traders. Kraken and Binance, both excel in providing security. It is not that easy to declare a winner in terms of Binance vs Kraken. Both are special in their way.
So this is what you need to be knowing about Kraken exchange. In this blog, I find it important to mention some of the facts which you might not be knowing about Kraken. And finally, I would say, yes, Kraken is the trustable exchange for trading your crypto. In case you are curious to know whether it is better than other exchanges, then I recommend you to log on to the Cryptoknowmics site. Here you can know more other facts about Kraken, and various other topics like where to store Cardano, or about NEO GAS, etc. It is the best leading crypto site.