No active bonus
|Support Number||07 58 21 02 95|
|Support Types||Phone, email, live chat, contact form on website|
|Trading Platform||Kraken Trading Platform|
|Minimum 1st Deposit||Any cryptocurrency|
|Minimum Account Size||Any cryptocurrency|
|Minimum Trade Amount||None|
|Maximum Trade Amount||None|
|Bonus||No active bonus|
|Payout||Within half an hour|
|Leverage||1:1 up to 1:5|
|Spread||Kraken doesn't charge spread|
|Free Demo Account|
|Regulation||Kraken is registered as a Money Services Business (MSB) with: FinCEN in USA — registration number 31000136371793. FINTRAC in Canada — registration number M19343731. Kraken Futures (CryptoFacilities) is regulated by the Financial Conduct Authority (FCA), the UK's primary financial regulatory body. Reference number 757895.|
|Fee Info||The fee ranges from 0% to 0.26% of the total cost (value) of your order and depends on the following: The currency pair that is being traded. Your 30-day trading volume (in USD)|
|Commission Info||The fee ranges from 0% to 0.26% of the total cost (value) of your order and depends on the following: The currency pair that is being traded. Your 30-day trading volume (in USD)|
|Account Types||Starter, intermediate, pro|
|Deposit Methods||Over 100 types of cryptocurrency, EUR|
|Withdrawal Methods||Over 100 types of cryptocurrency, EUR|
|Trading Methods||Hedging, scalping, auto trading, EAs, scripts, robots|
|Number of Assets||100+|
|Expiry Times||depends on futures contract|
|Types of Assets||Cryptocurrencies, cryptocurrency pairs, futures contracts|
|Option Types||Futures contracts|
|US Traders Allowed|
In this Kraken review, updated for 2020, we are going to look at all the pros and cons of this USA accepting traders cryptocurrency exchange and broker.
Ever since 2011 this trading platform has been developed, so long before Bitcoin and other altcoins even came into existance. The team behind the Kraken Exchange has made tremendous efforts in continiously increasing it’s platform in features and improving customer service ever since. Kraken has a unique partnership with the German Fidor Bank to make sure deposits and withdrawals made in Euro are processed within one business day. This is especially good for European traders and cryptocurrency investors. So, buying Bitcoins with Euros can be done very easily with Kraken nowadays. Actually Kraken is the world’s top liquidity provider on the BTC/EUR cryptocurrency trading pair.
As for myself, I have been using the Kraken Exchange for years and traded quite substantial amounts of money on their bitcoin platform. My experience with Kraken is outstanding and I would lie if I didn’t mean that Kraken is one of oldest and safest cryptocurrency exchanges out there. If we’re talking security rankings, their trading platform has a BCER-rating, Full SSL protection and segregated cold wallet funds. I can highly recommend using Kraken.
In the video below you can check out an interesting conversation between founder and CEO Jesse Powell and Ivan on Tech:
Should I use Kraken as American Citizen?
Yes, of course! Kraken is internationally known as one of the very few reputable cryptocurrency exchanges that actually accepts United States residents and has all their paperwork and licenses in place. They aren’t some offshore platform as they are literally based in San Francisco. This means if they would ever like, get hacked or something, you can just sue them and you will get your crypto value back in Dollars, so I wouldn’t be to scared at all.
As for Europeans, like I said before, Kraken is the most important exchange for the cryptocurrency pair BTC/EUR. Add to this the fact that serious crypto traders use this exchange to test cryptocurrency trading strategies, even using automated trading bots like Cryptohopper. Binance also accepts EA’s and auto trading systems like Cryptohopper, by the way, but I would prefer Kraken over Binance every given day. Binance tends to lag, wether I’m in France, Thailand, South-Africa, I don’t know if it’s just me but I’ve read many complaints about this.
If you don’t know how leverage works exactly, just stay away for it for the time being. If you want to learn more about leverage, take the time to read our extensive leverage guide:
Kraken Exchanges Cons
Okay, so not every trading platform is prefect, as is the case for Kraken as well. Compared to Binance their product offering, as in which and how many altcoins you can trade, is quite a bit smaller. On Kraken you can trade around 50 cryptocurrencies, whilst at Binance you can trade like 175. Also, the Kraken trading platform isn’t to beginner friendly. My advice would just to sign up for an account at both Kraken and Binance, just to see which one you like better.
Why is Kraken Crypto Exchange such a good choice?
Well, because it’s an exchange where you can trade crypto’s superfast, especially in Euros. This because Kraken’s partnership with the German Fidor Bank in Munchen. Kraken partnered up with Fidor Bank to establish a cryptocurrency bank that allows superfast trading in cryptocurrencies versus Euros. On Kraken you can trade the following but not limited to, popular cryptocurrencies: Bitcoin, Ethereum, Ripple (XRP), Stellar Lumens, Dogecoin, Litecoin, Cardano, Chainlink, Paxos Gold and all other prominent coins. It’s also possible to buy digitalized gold on Kraken in the form of an Ethereum or ECR-20 token on the blockchain.
Kraken Safety and Transparency
Kraken is truly a market leader when it comes to the safety of client accounts. Kraken is built on a security infrastructure that is almost impossible to hack. Kraken complies with all safety measurements of a modern-day cryptocurrency exchange. You can further protect your own Kraken account and cryptocurrencies with a UbiKey and 2FA. In the video below you see how to set up your Kraken account in the most secure way:
Kraken Crypto Futures Platform
In 2019 Kraken bought the futures trading platform Crypto Facilities. Because of this it is now possible to trade long term contracts on Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple with a sweet leverage of up to 1:50. These special features are available from within the Kraken Pro trading environment.
All new features like Futures contracts are only available from within the Kraken Pro Trading Platform.
Last but not least, Kraken facilitates the Bitcoin OTC trade for rich investors and traders that invest several hundred thousands or have stacked up large amounts of Bitcoins and want to trade without the regular order books on the Kraken exchange.
Are there any downsides using Kraken?
Well, the first thing you have to know is that you’re dealing with cryptocurrencies, which are known for their pseudo-anonymous nature and irreversible transactions. Because of this, big and popular cryptocurrency exchanges like Kraken, Binance and BitFinex are popular targets for phishing attacks. As user or trader you should always take proper security measurements. Invest in a UbiKey or Ledger Nano and link this to your Kraken account for maximum security. Also, it’s very wise to anonymously browse the internet whilst handling or trading bitcoin or other cryptocurrencies. This is a smart strategy which is easily to do by using a VPN software. Always make sure you’re trading from a clean pc or laptop equipped with a good malware scanner like NordVPN’s malware scanner and virus remover.
Never keep to big amounts on your exchange wallets, move them over to your cold hardware wallet like your ledger instead.
Kraken was kinda overrun by bulls, to say the least, during the end of 2017 (where I personally made so much money I could almost stack $100 bills to the ceiling). Nowadays Kraken has invested quite some money in scaling their platform and a certain bullrun including bubble wouldn’t be any problem in the near future.
For personal cryptocurrency investment advice and my personal crypto trading strategies, contact me at introducingbrokers[at]choosebroker.com.
Kraken Exchange Background Information
Kraken is founded in 2011 by Jesse Powell. He has a lot of years of experience in trading and founded a trading company that plays a very important role in the bitcoin community. Based on my own experiences, once more, I can highly recommend Kraken as bitcoin exchange. Kraken makes progress every single year and keeps on developing their platform. Recently the company bought Cryptowatch, which is like the crypto version of marketwatch dot com. Cryptowatch is specialized in offering outstandingly accurate charts and quotes. Kraken will integrate cryptowatch’s technology within their platform soon.
For traders and investors that like to invest in long term contracts (futures) with big order sizes, a BitMEX account is more suitable. To cover all your investment needs, just signup for both or even include a Binance account as well, to be able to buy and sell all reputable cryptocurrencies.
Kraken Review – Conclusion
Kraken is one of the most secure and well-known international digital asset exchanges. Their platform contains all whistles and bells required to professionally trade bitcoins and other altcoins. Algo and high-frequency traders can use Kraken together with Cryptohopper to automate their crypto trades. As Kraken does have a smaller product offering compared to Binance, I highly recommend signing up both Kraken and Binance to fully cover the market and being able to buy and sell all notable cryptocurrencies and futures contracts.
- USA clients accepted
- Deposit from just a single dollar
- Very secure and safe platform
- Fully licensed and regulated from within the US
- San Fransisco based
There is no review.