Kraken bitcoin review
kraken bitcoin, based in San Francisco, is one of the largest exchanges of Bitcoin and is considered the largest exchange of bitcoins based on the volume of the euro, the liquidity and the exchange of Canadian dollars, US dollars, British pounds and Japanese yen .
kraken bitcoin landed on the international scene in 2011 and was the first Bitcoin exchange to have the price and trading volume displayed in the Bloomberg Terminal. The acknowledgments of kraken bitcoin also include being the first to pass a cryptographically verifiable proof-of-reserve audit, he is the trustee appointed by the Tokyo government court, and Germany's BaFin has regulated the Fidor Bank.
However, apart from the appreciation, kraken is yet another of the many platforms that users can buy and sell Bitcoin .
So how good is bitcoin kraken?
The following review will give you the answer.
Review
kraken bitcoin has mixed reviews across the board.
The Good: Positive kraken reviews largely credit the exchange with the ability to trade and have a smooth experience. The most positive review, however, everyone notes that the software (for trading) has a lot of room for improvement. The fact that kraken bitcoin is very accessible internationally makes it the first choice for many international users.
The bad: a quick Google search reveals a slew of negative reviews vehemently about the exchange and customer service of kraken bitcoin. Keep in mind that many negative reviews are often the result of customers who have had a very unpleasant experience and who have been brought to the Internet to let off steam. While these reviews may be accurate representations, there are still people who have had positive experiences with the platform. The negative reviews of kraken bitcoin mainly point out that the lack of customer support makes the experience extremely frustrating. In addition, withdrawal times can be very slow and some users report limited access to their funds.
Kraken bitcoin review: key information
Overview of kraken bitcoin
Owned by Payward, Inc. and having received millions of investors , Kraken bitcoin is one of the largest cryptocurrency exchanges.
Kraken bitcoin has a large variety of cryptocurrencies (more than Coinbase), and makes it easy for international traders.
To get started, you must be verified by kraken bitcoin. Users are sorted into several levels that specify things like how much a user in a specific level can deposit per day. Each level requires a different set of details.
One point of interest is that the kraken wallet offers you an amount in USD, EUR, etc. That is worth your wallet.
Ordering on kraken bitcoin is relatively simple using their basic interface, but their trading tools provide more robust functionality should you choose to use them.
You can place a simple market or limit orders. On average, limit orders have a 0.16% commission and market orders have a 0.26% commission. Commissions vary according to the volume of trade.
For the main trading pairs, the fees are typically between 0.1% and 0.35%, and for other less common pairs of cryptographers the range can be between 0.05% and 0.75%. Traders who offer liquidity receive a 0% commission.
Also, you can trade margin trading, but this is an incredibly risky way of doing it and not recommended unless you really (REALLY) know what you are doing.
One thing I like about kraken is that it has a lot of different fiat and cryptocurrency pairs. This means that people can buy a variety of encrypts directly using USD and EUR, instead of having to buy BTC first and then use a secondary purse to buy a specific alt currency. This is one of the distinctive advantages of kraken bitcoin over Coinbase and other exchanges limited to just a handful of cryptocurrencies and fiat / crypto pairs.
Withdrawals are relatively simple on the platform. All you have to do is go to the withdrawal section and withdraw money directly to your bank account. If you want to withdraw Euros and have a European bank account, this is also an option through SEPA for only 9 cents.
Withdrawal and deposit fees vary largely on the method, but generally hover around 0.19% with a minimum of $ 20. For the Japanese yen, however, there is a minimum deposit of 5000 yen with no transaction fees for the deposit, but it takes 20 yen to withdraw.
Security: Kraken bitcoin allows you to configure 2 Factor Authentication (2-FA), but you need to go to the Security tab to do it. You can never be too sure, and if you use bitcoin kraken make sure you enable 2-FA.
Kraken bitcoin review summary
Kraken has been in the cryptocurrency exchange world since 2011, a year before it was Coinbase's most popular competitor (in the United States) . Kraken has spent a relatively long time establishing its reputation in the world of cryptocurrencies and is the first choice of many international cryptocurrency traders.
While many online reviews reflect some gaps and rhythms that the kraken bitcoin team has to resolve (mainly the apparent lack of customer support), kraken still provides enormous value to merchants in the United States and on the international scene.
It is a relatively secure platform and has been a major player in the evolution of the cryptocurrency world. Kraken has lower commissions than Coinbase with access to a much more robust trading platform from Kraken. It takes a little less than an intermediate understanding of how to trade cryptocurrencies, but be sure to look at some guides to learn how to make sure you do everything correctly.
