№ 8 | Kraken - Cryptocurrency Exchanger Review CENTRALIZED
Kraken is one of the most popular cryptocurrencies exchanges.
Kraken cryptocurrency exchange is created by Payward Inc. Any supervisory authority does not control the platform, but this is the common situation for the cryptocurrencies, at least for today.
There are also many tools for trading on this crypto-platform.
First of all, Kraken is known as a trading platform for Bitcoin and Ethereum with fiat pairs (USD and EUR), however altcoins are also presented.
The TradingView interface is used on the platform as well.
This means that trader will always have access to a wide range of technical analysis tools. The graph opens in an additional window, which can be moved and changed at desirable discretion.
In addition, Kraken has a good mobile application, which is currently available only for iOS users. Entering fiat money to the cryptocurrency exchange is possible only by bank transfer. Traditional payment methods, such as bankcards, PayPal or Skrill, are not supported.
There are four levels of verifications. To get Tier 1 and Tier 2 trader need to take just a few minutes. Higher levels require more time because of slow operation of the support service:
- Level 1 (Tier 1) — The size of the deposit is unlimited. Trader can withdraw up to 2,500 per day and up to 20,000 per month in equivalent.
- Level 2 (Tier 2) — Trader can withdraw up to 5,000 per day and up to 50,000 per month.
- Level 3 (Tier 3) — to increase the limits for input/output, trader has to provide the identity document and confirmation of the address he/she indicated in Tier 2. Withdraw up to 50,000 per day and up to 200,000 will be available.
- Level 4 (Tier 4) — Trader will have to contact the support team to agree on the possibility of raising the limits. Withdraw up to 100,000 per day and up to 500,000 per month.
To sum up, Kraken is the American cryptocurrency exchange, which provides service for a large number of European users.
The daily trading volume of Kraken is approximately close to $130 millions of dollars.
That’s why Kraken owns the largest market of BTC/EUR. Kraken won the trust of users and the transaction’s fees correspond to the average market.
- Big amount of cryptocurrency assets;
- Fiat deposits;
- Strong level of security;
- Low fees.
- Overwhelmed client support;
- Sometime the platform may stop operating due to high level of activity;
- No mobile app for Android.