There are many newcomers looking for a trustworthy cryptocurrency exchange. But unfortunately, there are few incidents that have made people think briefly. Before choosing a crypto trading platform and adding funds to start trading. However, the majority of U.S based platforms are honest and effective when it comes to providing quality services.

Therefore, in this article, we are going to discuss one of such platforms known as Kraken. We’ll see why it’s so popular among the investors, along with its pros and cons. So let’s go through a quick review of Kraken.

Complete Kraken review

What is Kraken?

Claiming to be the best and most secure Bitcoin exchange platform, Kraken is one of the leading cryptocurrency platforms worldwide. To keep standing strong among the top three cryptocurrency exchanges around the globe, Kraken sure considers each required element for making it successful.

Founded in the year 2011, Kraken is a san-Francisco based crypto trading service. It was later launched in 2013, making it one of the oldest platforms currently available in the market. Kraken is mostly known for its top-notch security and similar popular services. As there is not a single case of hacking or data-stealing from the platform.

Key features of Kraken

Higher liquidity rate

There are many startups in the market with a goal in mind. And that is to get rich quickly without providing quality trading services. It takes only a few minutes to sign up and deposit your funds to a crypto trading platform. But if you deposit them to a platform without enough liquidity, then there’s a risk of not being able to withdraw them when you want.

So Kraken makes sure to provide the highest liquidity possible. While keeping the user funds separate from business transaction capital.

Professional trading features

If you wish to make more money with crypto then eventually you will need to use the complicated trading features. Even though you will have to give sufficient time to learn and earn with professional features. You should make sure whether a platform provides them or not. Kraken provides features such as Margin and Future trading, that are important for investors.

Unmatched security in the market

Kraken is serious about providing the best security to its users from the day of the launch. With enough resources and efforts used every day, Kraken ensures that the transactions, withdrawals, and deposits you make are completed securely.

Hence, There’s a Tier system to decide your daily trading limits and to what extent you will need to provide personal data and documents for completing the verification process.

Advanced account management service

As Kraken is growing continuously they are upgrading their services for more serious users. Kraken offers dedicated one-to-one support to their advanced clients allowing the clients to enjoy an extra layer of service. Now you can focus more on the recent market trends without worrying about your account management.

Pros

  • Offers stake and earn the opportunity to its users.
  • Supports many different types of cryptocurrencies.
  • Among the top three cryptocurrency exchanges in the market.
  • Provides a robust service, capable of completing tons of transactions per second.
  • The dedicated security team works 24/7 to keep you safe from potential threats.

Cons

  • The platform does not support tax
  • Not preferable for beginners in the crypto world
  • The customer support system is not up to the mark
  • Using an instant buy platform will cost you more fees
  • You may have to face some limitations with the starter account

Final Verdict

Holding on the spot of the top three cryptocurrency exchanges is not an easy task. Still, Kraken has been proving its importance in the industry till now. So without a doubt, you can choose this platform for the cryptocurrency market. Despite few cons that we have mentioned earlier, this fast and secure platform won’t let you down for sure.

In conclusion, you will have to decide whether this platform is capable of fulfilling your requirements or not. Do share this article and feel free to mention any suggestions or questions you have in the comment section.

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