Advantages
- Security. When we talk about money matters, security is paramount. And with Kraken, they encourage the use of 2 Factor authentication. That way cases of fraud are minimal.
- The platform can support a large number of users seeking exposure and those with small starting capital.
- Their trade fees are reasonable. Compared to Bitcoin exchanges, their withdrawal and trade fees are cheaper.
- Transparency. It was the first exchange to carry out proof of reserves audit in the world.
- All users are open to Bitcoin trade and cash is credited promptly to all users.
- The site is beginner friendly. As a beginner, you can start trading with Kraken with small amounts.
- It is a popular site, commonly used by professional traders and intermediate ones.
- It operates with a wide variety of cryptocurrencies and fiat currencies.
- It has an excellent rank. Kraken is ranked among the top five leading cryptocurrency exchanges in the world.
Disadvantages
Disadvantages- The customer support system is currently not very responsive. This is as a result of increased number of users on the site.
- The site holds keys to your crypto address or your account.
- Arbitrary closure of accounts. Well, this happens when fraud is