What is Kraken?
Founded in 2011 by Jesse Powell, Kraken is a US-based cryptocurrency exchange that has grown to become one of the largest and most trusted platforms globally. Based in San Francisco, this exchange serves millions of traders worldwide, offering a wide range of cryptocurrencies for trading, including Bitcoin, Ethereum, and many altcoins.
Key Features
- Wide range of cryptocurrencies (50+ supported)
- Advanced trading options
- High liquidity for quick trading at fair prices
- User-friendly interface for both beginners and advanced traders
- Comprehensive trading tools
- API access
- Mobile trading capabilities
Security Features
Kraken's commitment to security is evident through multiple protective measures:
- 95% of assets stored in air-gapped cold storage
- Two-factor authentication (2FA)
- Global Settings Lock (GSL)
- Master key for account recovery
- SSL encryption across the platform
- Regular security audits
Trading Options
Supported Cryptocurrencies
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Cardano (ADA)
- Polkadot (DOT)
Available Trading Types
- Spot Trading: Buy and sell at current market prices
- Margin Trading: Trade with up to 5x leverage on select pairs
- Futures Trading: Speculate on future price movements
Fee Structure
Kraken implements a maker-taker fee schedule that rewards high-volume traders:
| 30-Day Volume (USD) | Maker Fee | Taker Fee |
|---|---|---|
| < $50,000 | 0.16% | 0.26% |
| $50,000 - $100,000 | 0.14% | 0.24% |
| $100,000 - $250,000 | 0.12% | 0.22% |
Getting Started
Account Creation Process
- Visit the Kraken website and click "Create Account"
- Complete the verification process (KYC requirements)
- Add funds through bank transfer or cryptocurrency deposit
- Start trading
Verification Tiers
Starter: Basic account access
Intermediate: Higher deposit limits
Pro: Full trading capabilities
Educational Resources and Support
Kraken maintains an extensive learning center featuring:
- Cryptocurrency guides
- Trading tutorials
- Market analysis
- Security best practices
Customer support is available 24/7 through:
- Live chat
- Email tickets
- Extensive FAQ section
- Social media channels
Mobile Trading
The Kraken mobile app offers:
- Real-time price alerts
- Portfolio tracking
- Instant buy/sell options
- Secure biometric login
"Margin trading allows experienced traders to increase their position size, but it comes with increased risk and should be approached cautiously."
For more detailed information on Kraken's security practices, visit their security page.
The platform continues to evolve, with recent improvements including integration of new trading pairs, enhanced staking options, improved user interface, and banking services in select regions.