Kraken

Company information

Company name
Kraken
Website
kraken.com
Company Headquarters
San Francisco
Account Minimum
$10

Kraken

Ratings :
4.5/5

Kraken has risen to this popularity due to its amazing services and large variety in cryptocurrencies. This platform was founded in 2011 by Jesse Powell and has been providing crypto-to-crypto and crypto to fiat currency trading services since then. With over ten years of experience, it is no surprise that Kraken has established a top-ranked place among cryptocurrency brokers. They offer advanced trading services like margin and futures that are not commonly offered by other brokers.

Currencies available on Kraken:

Kraken is one of the oldest cryptocurrency brokers and offers more than 50 cryptocurrency coins including:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Solana (SOL)
  • Dogecoin (DOGE)
  • Ripple (XRP)
  • Tether USD (USDT)

Pros and Cons

Pros

  • Since Kraken’s establishment there has been no hacking attempt recorded or any other sort of security breach. It is safe to consider that being an experienced company they have provided a secure environment for their customers to trade.
  •       Other than cryptocurrency trading services, Kraken also offers multiple rewards options for their customers to earn a little extra. If you have enough crypto coins stacked up in your account, then you can win some rewards against it. This offer is limited to specific crypto coins. These kinds of offers are common in the cryptocurrency brokerage business to attract more customers.
  • A major benefit of working with this broker is that it not only offers crypto-to-crypto currency trading but also allows crypto to fiat currency exchanges for example USD, Euro, GBP, JPY, etc. It should be noted that only a few real currencies will be available to be traded.
  • An exceptional service they provide which is rare to find in the cryptocurrency brokerage industry is the advanced options trading with margin and futures for cryptocurrencies. Many customers might find this feature interesting.
  • This broker also charges market competitive trading fees with their pro-account fees starting from 0.26%. The charges vary depending on the crypto coins and type of accounts, but overall this broker is considered a low-cost broker.

Cons

  • A major drawback for this broker is their customer service that does not have a good reputation among its customers. It is observed that their customers are not satisfied with the slow and poor support they offer through email and live chat options.
  • Their account opening process is also quite slow which might turn off many customers.
  • Their platform is also quite hard to navigate with advanced tools and features. For beginners, it could be difficult to learn and might take some time.
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