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Kraken - bonus 2024

Trust Score 10

Kraken - bonus 2024

Trust Score 10

Volumen 7d

Information

Year
2011
Country
United States
Twitter
Facebook
Reddit
Volumen (24h)
6,542 BTC
Trust score
10
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  • Exchange description

How to get free bonus - Kraken

KrakenJeszcze nie mamu bonusu dla giełdy

Exchange description - Kraken

Kraken is a centralized cryptocurrency exchange founded in 2011. It is registered in the country of United States. The Kraken exchange is available at www.kraken.com . In addition, information about the platform can be obtained from official social media accounts (e.g. Twitter Facebook Reddit ). The current Trust Score for this exchange is 10. In the last 24 hours, the trading volume reached 6,542 BTC.

Kraken has been ranking among the most popular cryptocurrency exchanges in the world for years. Initially, the exchange was focused on users from the United States, but now the platform is accessible to users from 176 countries. What distinguishes Kraken is its multi-level support for beginner investors. They have access to professionally prepared knowledge base and can also benefit from 24/7 Customer Support. Kraken users have access to about 200 cryptocurrencies and tokens. Moreover, the exchange offers leveraged trading by providing futures contracts. According to popular opinion, Kraken is considered a relatively safe platform, as confirmed by publicly available audit data.

Information about the Kraken cryptocurrency exchange:

  • Year of establishment: 2011
  • Headquarters: USA
  • The platform is not available in Polish
  • Over 200 available cryptocurrencies, including stablecoins
  • Supported FIAT currencies: EUR, USD, GBP, CHF, CAS, JPY
  • Possibility of trading with leverage
  • Required KYC account verification
  • Free account creation and maintenance
  • Relatively low transaction fees
  • Relatively high level of security

What is Kraken exchange, how was it created and how has it developed?

Kraken was founded in 2011 in the United States by Jesse Powell, a member of the cryptocurrency community. His actions were a response to the crisis caused by the hacking of the Mt. Gox cryptocurrency exchange. He predicted that the exchange had no chance of recovering from the situation. For this reason, he started developing a strategy to launch an electronic platform that would replace it. As it turned out, Powell’s idea was a bullseye, as the exchange was launched in 2013 after two years of testing and gained its first supporters. Initially, only transactions based on Bitcoin and Litecoin were offered, but over time the offering was expanded to include other digital currencies. The platform quickly gained many positive reviews and recommendations among investors, which significantly contributed to its popularity.

In 2014, Kraken was the first Bitcoin exchange to be included in the Bloomberg Terminal financial software. Interestingly, the people behind the exchange were involved in the creation of JADA – a Japanese government organization responsible for regulating Bitcoin trading.

In 2021, a mobile application was launched. At the same time, the exchange created two other applications, allowing users to take advantage of additional features: Kraken Pro and Kraken Futures.

Security on the Kraken exchange

Kraken is highly recommended by users for a reason. Investors value the high level of security that covers not only their data, but above all their assets. As the data shows, as much as 95% of deposits are held offline in so-called cold wallets. This provides strong protection for funds in the event of hacking attacks and attempted theft. Additionally, Kraken’s servers are under 24/7 protection.

Importantly, Kraken has a guarantee fund, and employees constantly verify investors’ operations.

Kraken has been operating for 10 years and its main headquarters is located in the United States, which is a very stable jurisdiction. The exchange’s operations are fully legal and subject to financial supervisory authorities in all areas where it is available. In North America, the exchange is regulated by FinCEN (the Treasury Department’s bureau responsible for protecting the financial system). It is also regulated by FINTRAC (the Canadian Centre for Analysis of Transaction and Financial Reports). Thanks to a comprehensive approach to managing cybersecurity, Kraken has the ISO/IEC 27001:2013 certificate, which attests to compliance with strict international security standards.

Kraken platform uses SSL encryption and two-factor authentication, which limits the risk of unauthorized access to the account. It is also important to note that all transactions must be confirmed by email. This allows users to detect suspicious activity on their accounts and prevent fraudulent transactions.

Despite Kraken’s extensive security system, it is important to remember the risks associated with investing on an exchange.

Kraken’s Offer

Trading

The platform interface is divided into three sections, which should be selected depending on the level of experience in cryptocurrency investments. Different sections allow the use of an increasingly wide range of trading tools.

The cryptocurrency exchange platform allows trading of Bitcoin, Ethereum, Litecoin, and XRP with leverage. During trading, options such as Stop Loss, Take Profit, or Trigger Entry can be used.

  • Simple version for beginners – beginners who have no experience in investing in cryptocurrencies can use the simple version of the platform. It allows them to familiarize themselves with educational materials and start trading.
  • Intermediate for intermediate users – more experienced users in the world of cryptocurrencies can choose the Intermediate version, which allows them to use advanced features. Among other things, leveraged trading is available at this level.
  • Advanced version for professional investors – the advanced version is available for professionals. It includes all available features. Among other things, users can set conditions for an order to be closed.

Available cryptocurrencies

Kraken exchange allows trading of over 200 cryptocurrencies and tokens, including dollar stablecoins such as USDT and USDC. Additionally, Kraken offers leveraged trading through futures contracts with over 40 of the most popular digital currencies (including DOGE, BTC, ETH, LTC).

Trading on Kraken is possible in crypto-to-crypto or crypto-to-fiat pairs. For Polish users, it is important to note that the platform does not support trading with the Polish złoty. The most extensive markets are formed by the euro, dollar, and bitcoin, against which dozens of cryptocurrencies are listed. Stablecoins USDC and USDT are available in fewer pairs. The currently listed stablecoin is Tether (USDT). Additionally, trading with fiat currencies (USD, EUR, CAS, GBP, JPY) is possible.

On Kraken, leveraged trading covers 8 cryptocurrencies, with popular coins including Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Ripple (XRP), Tether (USDT). The available leverage ranges from 2x to 5x.

Staking

Kraken allows staking for several cryptocurrencies that use the Proof of Stake algorithm. In practice, it is similar to earning interest on a traditional savings account. This allows for earnings of up to 20% per month.

The available cryptocurrencies and their corresponding interest rates can be checked here: kraken.com/features/staking-coins

Available staking currencies on Kraken are:

NFT

Noteworthy is the developing offer that allows trading of NFTs. Although the NFT market on Kraken is currently in beta, it is expected that Kraken will be a significant player in the non-fungible token market.

Knowledge Base

Kraken has a very well-prepared knowledge base. In the “learn” section, you can find content prepared for both beginner users and experienced investors. Interestingly, in addition to articles, the content is also available in the form of videos and podcasts.

Offer for institutions

In addition to the offer for retail clients, Kraken acts as a partner for institutional and business clients.

Kraken Fees and Charges

Comparing various exchanges in the cryptocurrency market, Kraken is very competitive in terms of fees. Additionally, the exchange stands out with its high trading volume.

There is no fee for opening and maintaining an account on Kraken. The situation is similar when it comes to holding assets in the account. The main cost comes from trading fees, which are charged based on the value of the transactions.

Like other well-known exchanges, Kraken also adjusts the fee levels based on the trading volume. Additionally, it is one of the few platforms that does not charge fees for traders with high trading volumes. For traders with a volume below $50,000 per month, the fee is 0.16% for maker transactions and 0.26% for taker transactions. Larger investors pay no fees for maker transactions and only 0.10% for taker transactions.

Stablecoin transactions are subject to different fees, starting from 0.20% for maker and taker transactions. With a monthly trading volume of $1,000,000, the fees are 0%. Leverage on cryptocurrencies is charged at a rate of 0.01% to 0.02% for opening positions. Additionally, Kraken charges 0.01% to 0.02% for rollovers (the fee is charged every 4 hours).

Fees at a glance:

  • Account creation: 0 PLN
  • Account maintenance: 0 PLN
  • Spot trading fees: max 0.16% for maker, max 0.26% for taker. Maximum fees apply to users with average monthly trading volumes up to $50,000. Rates decrease with increased activity.
  • Leveraged trading fees: max 0.02% for maker, max 0.05% for taker. Maximum fees apply to average monthly trading volumes up to $100,000. More active users have lower rates.
  • SEPA bank transfers (EUR): free deposits, withdrawals 0.09 EUR.

How to create an account on Kraken?

Opening an account on the Kraken exchange is similar to other platforms. The whole process is not complicated and does not take much time, so even a beginner should be able to handle it.

  • On the website, click “Create account” in the upper right corner.
  • Then simply fill out a short form, entering your email address, username, and setting a unique password. It must be at least 8 characters long and contain letters, numbers, and special characters.
  • It is also necessary to provide your address and agree to the terms of service.
  • You need to provide personal information and verify your identity by submitting a valid identification document and a photo of yourself with your ID.
  • After clicking “Register Here,” the system will take you to the account activation screen. At this stage, an activation key will be required, which will be sent by email. Simply click on the activation link sent in the message to activate your account.

Identity verification process on Kraken

To activate your account on the exchange, you need to fill out a form and confirm your personal information. This requires providing identification documents, which allows access to the full functionality of the site. Additionally, new users must set up two-factor authentication. The data must be confirmed by sending a valid identification document as an attachment.

Kraken divides user accounts into five different levels. Each level differs in the available features they offer and the number of deposits and withdrawals.

  • Tier 0 – Initial level for new users with a confirmed email address. At this level, it is possible to browse the site, but you cannot deposit and withdraw cryptocurrencies or make trading transactions.
  • Tier 1 – Level 1 is possible after providing personal information, country, and phone number. At this level, you can trade cryptocurrencies, but it is not possible to deposit and withdraw or trade fiat currencies. Accounts at this level do not have maximum deposit limits for cryptocurrencies, but they are limited to $2500 weekly and $20,000 monthly.
  • Tier 2 – This level has been expanded with additional features. To achieve it, you must provide a full address. It is possible to deposit and withdraw up to 20,000 EUR weekly or 10,000 EUR monthly. Level 2 accounts can trade fiat and cryptocurrency pairs. The withdrawal limits for cryptocurrencies have also been increased to $10,000 weekly and $50,000 monthly.
  • Tier 3 – Level 3 account is required for users who want to deposit and withdraw fiat currencies. To achieve this level, you must provide proof of identity and confirm your address. After verification, the limits will be updated to $50,000 weekly and $200,000 monthly.
  • Tier 4 – The highest level of account verification, requiring extensive identity verification. It offers the highest account limits and provides access to all features on the platform. To achieve this level, it is necessary to submit a signed application form and KYC documents. Users at this level can deposit and withdraw USD and receive high limits. Level 4 allows deposits and withdrawals of over $100,000 weekly and over $500,000 monthly (for cryptocurrencies, EUR, USD, CAD).

How to buy on the Kraken exchange?

Buying cryptocurrencies using the Kraken exchange is completely safe and uncomplicated. To do this, you need to:

  1. Create and activate an account on the exchange.
  2. Verify your identity.
  3. Make a deposit in fiat currency. You need to create a deposit address and send funds to that address. Depositing fiat currencies can be done via SWIFT, SEPA, and domestic transfers, depending on your location.
  4. Next, simply buy the cryptocurrency on the platform.

To trade on the Kraken exchange, you first need to go to the “Trade” tab. Then, you can choose from various trading pairs (e.g., BTC/USD). The first currency in the pair represents the base currency, and the second currency is the quote currency. In a buy order, you pay with the quote currency and receive the base currency. So, in the case of BTC/USD, you pay with dollars and receive bitcoin.

After selecting the appropriate pair, click on “New Order” and then the “Simple” tab to fill out a short form. In the form, simply enter the amount of BTC you plan to purchase. After entering the quantity, the cost of the order in USD will appear. In the next step, click the green “BUY BTC with USD” button. Then, a summary screen of the order will appear. If all the details are correct, simply confirm the order by clicking the blue “Submit Order” button.

Deposits and withdrawals on the Kraken exchange

Deposit and withdrawal limits depend on the verification mentioned above. The processing time can range from 1 to 7 business days, depending on the method. It is worth noting that the exchange does not accept cash deposits, credit card payments, or payments through external payment providers. The basis for deposits and withdrawals is bank transfer. When using SEPA transfers, no commission is charged. Additionally, each user can deposit and withdraw funds from an external cryptocurrency wallet.

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Advantages and disadvantages of the Kraken exchange

Kraken is an exchange that enjoys a recognized position in the market. One of the most important advantages of this exchange is its wide trading possibilities. Investors have a wide selection of different cryptocurrencies and have access to various analytical features. Additionally, the platform offers various additional services such as futures contract support, staking, and an NFT trading platform. Kraken is a large exchange with a recognizable brand, high liquidity, and a large number of users. Interestingly, Kraken is an official provider of rates for the Bloomberg platform. Furthermore, according to some opinions, this exchange is considered exceptionally safe and the best-regulated cryptocurrency exchange.

As for the disadvantages, they are usually felt especially by users from Poland. Among them, the lack of support in the Polish language and the lack of the Polish currency can be distinguished. According to some opinions, Kraken is not as intuitive as some exchanges. However, this is compensated by many advanced functionalities that are particularly appreciated by more experienced users.

Advantages:

  • Sophisticated security systems and a guarantee fund.
  • Stability and reliability of the exchange, very good reviews.
  • Extensive knowledge base.
  • Several channels for contacting customer support: 24/7 chat and phone).
  • Ability to trade with leverage.
  • Wide range of offerings, including staking, NFT trading, and futures contracts.
  • Ability to easily place pending orders.
  • Wide selection of cryptocurrencies.

Disadvantages:

  • Lack of dedicated support for users from Poland (customer support in English).
  • Sometimes there are overloaded servers. This happens because a huge number of users use the platform.
  • Lack of PLN currency.
  • Sometimes longer verification time for users from Poland.
  • Fees for SEPA transfers and withdrawals from the account.
  • Limited selection of crypto-to-crypto pairs. However, the selection of crypto-to-fiat pairs is much wider.
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Frequently Asked Questions

Is Kraken exchange safe?

Kraken has technical and organizational security systems in place. The platform provides SSL encryption, two-factor authentication, and additional account verification tools. The exchange has an additional system to detect suspicious transactions on accounts. Most of the funds are held in offline cold wallets, which are protected against theft. Kraken also has a guarantee fund, and its employees continuously verify investor operations.

How is Kraken exchange regulated?

Kraken’s operations are officially regulated by FinCEN in the United States, the FCA in the United Kingdom and Japan, and FINTRAC in Canada. The platform is registered as a Money Services Business. The company complies with all legal requirements in each country.

Is Kraken exchange available in Polish?

Unfortunately, neither the Kraken website nor the mobile application is available in Polish.

How to get bonuses on Kraken?

Users can receive a $10 bonus for registering. Additionally, it is possible to regularly refer the website, for which investors will be rewarded with $10 bonuses.

To receive the bonus, you need to click on the referral link and register on the exchange (along with successfully passing the KYC process).

What is customer support like on Kraken?

Kraken exchange offers 24/7 phone support in multiple languages, although Polish is not available. Users can also use the 24-hour online chat. Active traders on the platform have access to a personal representative who efficiently responds to inquiries.

Does Kraken have a mobile app?

The exchange provides two apps for Android and iOS: Kraken (basic) and Kraken Pro. Both are free. For security reasons, after installing the app, it is necessary to set any method of locking access to the phone (e.g., PIN, fingerprint, or face recognition).

Is Kraken exchange suitable for beginners?

Kraken exchange is generally recommended for people who are familiar with the world of cryptocurrencies and have some trading experience. This is due to the wide range of features offered by the platform within different account levels. However, beginners can also try using Kraken to gain the necessary knowledge and practice in trading.

Does Kraken offer exchanges involving stablecoins?

Yes, Kraken exchange allows trading with stablecoins (including USDT, USDC).

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