Kraken Review: Kraken is a website where you can buy Bitcoins as well as crypto pairs for live betting. If you have come here asking if it is a legit website, we can confirm that this platform has passed our test and we do not consider it a scam or fraud. On the contrary, it is a platform that we find interesting, given its good performance.
Let us know more about it in the following post:
In Kraken, you can operate with 60 different pairs of cryptocurrency. This gives you the option to carry out multiple strategies, especially since in addition to the euro and the dollar. They include the Canadian dollar, the British pound and the Japanese yen, which is not common in the market.
Therefore, if you are using to investing in currency pairs, this platform is where you can get the most out of your knowledge. It gives you many more options than investing only concerning yours.
Trading cryptocurrencies at Kraken:
The investment interface offers you a candle chart, on a black background, so that your eyesight does not tire if you spend hours in front of the computer.
The graph allows you to zoom in or out to see different intervals and time scales, as well as draw lines and other indicators that are often drawn in technical analysis.
It also informs you of the typical bar graph of the volume of operations at each moment. Also, you can see a table with the volumes of supply and demand and in the right column, you have the buttons to invest long or short in the currency you are analyzing.
You can easily change the currency in the upper left corner and you can even configure alerts to notify you when certain supports or resistances are exceeding. In short, a very good investment platform.
Minimum Transaction fees:
Minimum transaction fees are 0.26% for those who accept offers from other traders. It is slightly higher than 0.25% for which almost all competing platforms have opted.
Depending on the volume, the commission is reduced by up to 0.10%. As for market makers, the maximum commission is 0.16%, which can drop to 0 but only in the case of really important operations.
The platform allows leverage from 2 to 5, but only in the case of bitcoin-euro and bitcoin-dollar operations. Other cryptocurrencies available without leverage are Bitcoin Cash, Ethereum, Dash, Tether, Ether, Ether Classic, Litecoin, Dogecoin, Monero, Ripple and Zcash. As you can see, more than enough for any investor.
At the moment there are no promotions on this investment platform, which has chosen to focus on offering the best possible service to gain the trust of investors. Something that seems to us a good strategy.
The way to deposit money in Kraken right now is the bank transfer. For withdrawals, the transfer is also the method selected by this platform.
Safety and Regulations:
The truth is that Kraken takes both the security and transparency aspects very seriously. That is why we insist that there is no place for suspected scams when working with this platform.
For starters, it has an audit system whereby they demonstrate that customer funds are kept securely. This system consists of an auditor checking the funds of Kraken and that these coincide with the funds of the users’ accounts.
But in an extra effort of transparency, the company allows users to verify that their funds are storing safely, by going to the Audit section of the Funding menu.
In this sense, this is the most transparent platform that we know of since it demonstrates conclusively. It keeps clients’ funds in a cold portfolio that potential thieves do not have access to.
Only the amounts necessary to carry out the operations and that there is liquidity on the platform are outside these cold portfolios. Of course, all wallets are encrypting.
At the moment, there is only one Kraken app in iTunes for iOS devices. Its operation is not up to the level of the web that you can access from your mobile browser without problems.
However, operating from the mobile is quite difficult, so it is not the best investment platform if you want to do it. In general, we are very satisfied with the services of this company, but if yours is mobile, you better choose one of the other cryptocurrency investment websites that we recommend.
The support service works very efficiently based on a contact form. From there, they answer you by email so you can maintain communication.
At the moment, they do not have a live chat or a phone number where they serve customers. They warn on their website that if at any time they give you a phone number so you can get in touch with them, it will surely be a scam.
The help section is very complete and will allow you to solve the vast majority of your doubts quickly without having to wait for an agent to answer you.
Kraken Review Conclusion:
If you have come this far you will know that you are dealing with a legit company that uses all possible means to avoid fraud and scams.
This company has been offering its services to invest in cryptocurrencies for more than 6 years and has always done so with good security guarantees. This solid track record already makes us think that it is not a scam. But it is also that, as you will see in the above sections, it carries out good security measures that further boost our confidence.