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
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 detected.
Slow connection. At times it takes more than 30 minutes for orders to go through, other times it fails altogether. Such results to loss of money and especially for professional traders.
Their account verification is slow compared to sites like Bitstamp and Coinmama.
Withdrawal and deposits can cost up to $15 if you are using SWIFT.
How to create an account with Kraken
Creating an account with Kraken is simple and straightforward. I could say, it is similar to creating accounts in other online sites. However, they have included other features to secure and protect your account.
After that, you will be asked to create a master key. This gives your account another layer of protection.
What we call 2 Factor authentication. This will be useful when changing passwords or logging in from another device. If someone accesses your account log in details from your computer, for example, they cannot access your account unless they have your other device, in this case, a smartphone. Such makes it very secure.
After completing the step above, you will receive an email with an activation key. Copy paste the key into the other platform, and there you can now access your account.
The entire process takes not more than ten minutes. To understand more about Kraken, check out for more Kraken review online.
Disadvantages
Disadvantages
What we call 2 Factor authentication. This will be useful when changing passwords or logging in from another device. If someone accesses your account log in details from your computer, for example, they cannot access your account unless they have your other device, in this case, a smartphone. Such makes it very secure.
What we call 2 Factor authentication. This will be useful when changing passwords or logging in from another device. If someone accesses your account log in details from your computer, for example, they cannot access your account unless they have your other device, in this case, a smartphone. Such makes it very secure.