Here is a brief Kraken review that focuses on the major aspects of the platform, helping people understand if it is according to their needs and requirements or not. Kraken was established in 2011 in the United States of America.

It is one of the oldest, largest and most trustworthy crypto exchanges in the country and has a wide customer-base. This exchange has achieved incredible growth year after year, ever since it was established. Except for a few countries, this platform extends its services to all other countries around the world.

Even though it is one of the most popular crypto exchanges in the market, you need to make sure that it also checks all the right boxes for you. Therefore, if you want to use the Kraken exchange then here are some details you need to know to determine if it is a secure and suitable option for you or not.

Kraken Review on its Security Systems

Kraken is one of the topmost cryptocurrency exchanges not only in the USA but overall in the crypto market. One of several reasons for its popularity and success is that it takes the security offered to its users very seriously. The security of users’ funds and accounts is one of the most important things that should never be overlooked, especially by people who are new to the crypto space. This is because choosing a secure exchange can help limit the risks you are likely to face as you step into the crypto space for the first time.

However, this brief Kraken exchange review talks about state-of-the-art security systems that are used by the platform to offer utmost security to the users. Some of the technologically advanced security features used by the platform are mentioned as follows:

  • Global Settings Lock (GSL)
  • High-end blockchain technology
  • Kraken Master Key
  • KYC verifications
  • Offline crypto wallets
  • Two-factor authentication system

The security of the platform is further validated by the fact that it is regulated and licensed by FinCEN in the USA and FINTRAC in Canada.

Wide Range of Cryptocurrencies

The availability of crypto assets on a crypto exchange is also one of the factors that can help you decide whether the platform is suitable for you to use or not. Especially if you are new to the crypto space and aren’t sure about the crypto asset to invest in then you should choose a platform that offers a variety of digital assets.

Therefore, this brief Kraken review discusses the feature of the platform that enables people to buy or exchange more than 50 digital currencies. You can exchange fiat currencies such as:

  • Canadian Dollar
  • Euro
  • GBP
  • USD

The benefit of the variety of available assets is that it allows you to buy, trade or store even the less popular cryptocurrencies in a safe and secure way.

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Low Trading Fees

The fee charged by the Kraken exchange is yet another factor that makes it stand out among other crypto platforms in the market. The fee charged by any exchange can help users in getting a good idea regarding the suitability of the platform.

While looking for a suitable exchange to buy or sell crypto assets, you need to be sure that the fee structure is fair and transparent. This is because some crypto exchanges sometimes include hidden charges that are not disclosed to the users beforehand and can compromise the security offered by the platform.

However, this Kraken review addresses the fact that this exchange has a transparent fee structure, which is one of the lowest in the crypto market. It also follows the market maker and taker fee model and the details of the fee charged are mentioned below:

  • 0.0200% fee charged for the market makers
  • 0.0500% fee charged for the market takers

Staking Service and Dark Pool

Two of the most unique and remarkable features of the Kraken exchange are its:

  • Staking service
  • Dark pool

Staking is a useful feature that is only available on proof-of-stake blockchains such as Kraken. This feature allows the users to keep their crypto in a collective pool or crypto wallet. This results in rewards for the users and requires staked tokens to validate the transactions as well.

The Dark Pool, on the other hand, enables the users to place anonymous orders in the market, which is opted by many. The trades that are placed by the traders are only known by them and no one else can know about them.

Final Takeaways!

A Kraken review that talks about the essential details and features of the platform can help you determine if this is a suitable exchange for you to use or not. These details are important for you to know so you can make an informed decision.

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