Kraken is a big International exchange which proposes a broad range of crypto and fiat money. It has 2nd transactions capacity after Poloniex. Address: San Francisco, USA.
Here you have the full Kraken review for 2019.
Margin trading is a special feature for bold traders. Kraken supplies the possibility to use the balance of a client's profile on certain trading pairs.
To make a profile, go to the official page.
A new user only needs an email address, nickname, and password.
The shortest password length is 8 symbols. Exchange recommends using a password manager. The safe length starts at 25 characters.
A shorter password must include one special symbol. It can not only be digital.
Next, you need to read the user agreement, put a tick and "Register".
For more complex settings, a new member may click on the “Register” button in the upper right corner of the main page.
In the "Advanced Settings" section, you need to confirm the residence and add a master key or PGP public key.
Master Key is a protection that can be used to restore account access in case of data loss. When the user activates this parameter, system will prompt for it during a password reset. This is a way to get around two-factor verification.
First, a static password is generated as the master key. After entering the profile, the user may modify it to a dynamic password using the Authenticator or Yubikey application.
To have PGP email encryption, a trader must enter his public key. After that, emails will be given in the encrypted form.
An email will be sent to the specified address with a unique code.
If there is no letter, check the spam folder.
To activate an account user needs to enter the password and pus "Activate".
Kraken account is ready to use!
Kraken wallet provides two types of orders to work with.
Creating a limit order on the exchange is quite a simple procedure. Just select the order type, operation volume, and specify the price. In the last column you will find the total needed sum.
Creating a market order is even easier to do. A trader needs to specify only the order volume. Everything else will be displayed independently.
To send a deposit, follow the path: "Funding", "Deposit" or "Withdrawal". Then choose the specified coins.
To simplify trading, use the API at https://www.kraken.com/help/api.
Kraken lets traders operate in the next paper currencies:
Kraken cryptocurrency review:
Here is the review of Kraken exchange limits in the USA.
D denotes deposits, W denotes withdrawals.
Documents to confirm financial viability:
Tariffs change by volume, and the range is just 0.1-0.35% for main trading pairs. For less common combinations, a rate from 0.05% to 0.75% is applied.
Withdrawals and deposits vary by a way. Every commission amount to 0.19% with the smallest sum of $20. For JPY there is a minimum deposit of 5 000 yen. Transaction fee for deposit is 20 yen.
So, what about the funding limits? Well, it depends.
You have to consider the place of residence, the level of verification and the sum of coins that the player wants to deposit or withdraw are taken into account.
Kraken buying limits Bitcoin review:
If the trader is level 4 client, he can make a request to increase the limit.
There are the daily and monthly restrictions for operations with crypto.
Fiat Limits for regular customers:
D denotes deposits, W denotes withdrawals.
Transaction` protection is very strong due to their two-factor verification and PGP/GPG encryption.
Profile verification is performed using information about the player’s identity. To access the basic functions, you must specify the passport data and country of residence. To open an advanced account will require bank supporting documents.
Note. You have to deal with clients' profiles which have two types of passwords. The first password is set by the user, and the second is generated by an application, such as Google Authenticator or Yubikey.
Kraken provides cryptographically confirmed evidence of backup checks. All new money transfers are sent directly to cold wallets where the vast majority of coins are kept. All wallets are protected.
Despite some privacy concerns about uploading documents, Kraken maintains an isolated system for sending documents. The data about each new profile and verification documents are also encrypted.
Kraken is one of the most famous Bitcoin exchanges out there. Customer support can sometimes be overloaded though. There is an Online chat, email, telephone consultations for customer needs.
An FAQ section has been also created to help traders solve almost every problem. Users can send a ticket if none of the available resources helps.
With the being difficult for newbies at the first glance, the service offers good conditions to experienced players. Kraken supports 150 cryptocurrency pairs. For trading, you can use leverage and short positions. Each user can independently configure additional security for their profile. During the existence the Kraken, it was never cracked.
No spam, only must know stuff