Kraken has built a good reputation for itself and has made the list of the best Bitcoin trading platform in the industry. It is one of the oldest cryptocurrency exchanges available, and it’s also popular among traders of all levels. It is one of the most secure destinations for cryptocurrency trading.
What Is Kraken?
Kraken is a cryptocurrency trading platform that was founded in 2011 by Jesse Powell. It was launched officially and made available to the public in September 2013. The exchange is based in San Francisco but available to traders in Japan, Canada, the United States, and many European nations.
How It Works
Kraken supports multiple fiat currencies including USD, Euro, Canadian Dollars, Japanese Yen, and the British Pounds.
The user interface of the website is basic but contains detailed documentation that helps beginners understand trading. It also has charts that allow users to trade more accurately. Kraken has a mobile app available for iOS devices. It uses cold storage techniques for added security and also uses PGP/GPG encryption. Users are encouraged to use the 2-factor authentication feature to get even more security for their accounts.
The first step is signing up. When you visit the website, all you have to do is generate an account with your details. You’ll have the options of opening either a basic or advanced account. While the basic account is easy to open, the advanced account requires serious verification. You’ll need to upload a valid ID and wait for verification before you can access the features.
A good reason why Kraken is considered one of the best Bitcoin trading platforms is that enables Bitcoin margin trading. It provides users with advanced order types and automated trading. As one of the best Bitcoin trading platforms available, the exchange can be used by traders of different income levels. However, the customer service provided may not be as fast as you’d want it to be.