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Kraken is one of the oldest trading platforms on the market. Over the years, it has managed to establish itself quite well among cryptocurrency exchanges, offering services designed for both amateurs and experienced traders. The exchange has an excellent reputation in terms of security and cost, its commissions are among the lowest on the market.

Kraken is a pioneer in the market of cryptocurrency platforms and now occupies a leading position. The platform was founded in 2011 in San Francisco with a capital of $ 1.5 million, and was aimed at competing with Mt. Gox, the market leader at the time.

Since the downfall of its rival, Kraken has held several consecutive fundraisers, until the last one in February 2019, when it received an additional $ 100 million from Digital Currency Group and Hummingbird Ventures. At the same time, the experience gained since its launch has allowed the exchange to adapt its offer to the needs of beginners and experienced traders. 

Kraken allows you to enter the cryptocurrency market, offering the purchase and sale of assets for fiat currencies (US dollars, euros, pounds sterling and Canadian dollars) only by bank transfer. The platform supports 150 of the most popular cryptocurrency pairs, as well as more confidential projects such as Melon or Gnosis.

The platform allows you to place simple orders at the market price, but also offers to open more complex positions, especially with leverage up to x5 or by entering into a forward contract.

Kraken offers an interface that tries to adapt to the level of its users, but suffers from ergonomics that can be confusing for beginners. There are three possible modes for placing an order: simple, medium, and advanced. The available parameters depend on the selected level. You can open a position at a given price or place a more complex order with leverage (up to x5), with a time interval and with closing conditions.

These forms, however, are impractical to use, and the detailed price of an asset pair is only visible when you run the "Kraken Pro" graphical view. It offers a complete overview of the price, order books, and offers analysis tools. It also allows you to place an order using a form that offers options similar to the intermediate site mode. This service is available as a mobile app for iOS and Android, providing the same service as in the web version.

In terms of fees, they are the lowest in the market and are an important aspect for the most active traders. Making a deposit via bank transfer is free, and the transaction fee varies from 0.16% to 0.26% depending on the transaction volume. Withdrawals of fiat currency are practically free with a commission of less than ten cents. Finally, when it comes to depositing and withdrawing cryptocurrency, the fees vary depending on the asset, but are still very reasonable.

Kraken has a very comprehensive user interface that aims to be accessible to as many people as possible. Users who have already gained some experience on other platforms will easily take advantage of it. 

However, handling it can be problematic for a beginner. Its trading view provides all the tools necessary for conducting technical analysis, and allows you to place basic orders, as well as open more complex positions. The exchange platform is also one of the most cost-effective with some of the lowest costs on the market.

Kraken offers almost everything you would expect from an exchange, namely buying, selling and trading cryptocurrency, as well as the service that made it popular, namely depositing and withdrawing funds using fiat currency.

Over the 10 years of its existence, Kraken has demonstrated the seriousness and effectiveness of its services. Kraken, a US-based company, is monitored by US regulators to ensure its safety. Another strong point of this exchange is cryptographic security:the company presents an impeccable report and conducts regular audits.


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