Kraken

What is Kraken?

The Kraken cryptocurrency stock exchange was opened in 2011 in San Francisco. In addition to a certain number of cryptocurrencies, the exchange trades in Canadian dollars, US dollars, British pounds and Japanese yen.

It was the first crypto exchange to showcase offers and sales volumes on the Bloomberg terminal, with a cryptographic verification of reserve evidence. The stock exchange is a partner of the first cryptocurrency bank.

Currently, the exchange occupies fifth to seventh place in the world every day in terms of cryptocurrency trading volume.

Services

In June 2016, Kraken added Ethereum’s dark pool trade to large Bitcoin buyers. Kraken offers Bitcoin pricing for the Bloomberg terminal. According to reports, in April 2017, Kraken introduced Fiat funding options for US dollar and government bond shifts.

Over the course of 2017, the Octopus Exchange suffered from DDoS attacks and performance issues, to the point where the site has largely become unusable.

Features

Another feature, but only for the brave, is margin trading, which gives Kraken the ability to raise your balance on certain trading pairs.

While this is not available to most, it gives your money more capital in the markets — but beware of margin calls that could affect your account as the markets go against your trade.

For JPY, there is a minimum deposit of 5,000 yen and no transaction fee for the deposit, but 20 yen for a withdrawal. For all other currencies, fees are less than 1 percent.

Redaktion

Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.