Kraken Review

Kraken Currencies and Payment Methods 

Deposit in to Kraken using the following fiat currencies: 

• USD – US Dollar 
• EUR – Euro 
• CAD – Canadian Dollar 

• GBP – Great British Pound 
• AUD – Australian Dollar 
• CHF – Swiss Franc 
• JPY – Japanese Yen 

The following Cryptocurrencies are currently available to buy on Kraken : 

Aave, Algorand, Aragon, Augur, Augur v2, Basic Attention Token,  Balancer, Bitcoin, Bitcoin Cash, Cardano, Chainlink, Compound, Cosmos, Curve, Dai*, Dash, Decentraland, Dogecoin, Energy, Web Token, EOS, Ethereum, Ethereum Classic, Filecoin, Flow, Gnosis, ICON, Kava, Keep Network, Kusama, Kyber Network, Lisk, Litecoin, Melon, Monero, Nano, Ocean, OmiseGO, Orchid, PAX Gold, Polkadot, QTUM, Ripple, Siacoin, Stellar Lumens, Storj, Synthetix, tBTC, Tether*, Tezos, The Graph, Tron, Uniswap, USD Coin*, Waves, Yearn Finance, Zcash 

Payment methods supported include: 

• Bank Transfer 
• SWIFT 

• Wire Transfer 
• BACS 
• Wire transfer 

Kraken Safety and Security 

Kraken takes a multi-faceted approach to its customers safety and security with 4 key areas, coin storage, platform security, information security & penetration testing. 

95% of all customer crypto that Kraken holds is kept in secure cold storage (offline) wallets. This means that it is virtually impossible for hackers to access these funds. 

Importantly all customer data is protected via a rigorous encryption process meaning that data theft is very unlikely. 

Kraken’s physical servers are protected via 24/7 CCTV video surveillance and armed guards. 

Finally Kraken’s own team actively try to hack their own systems and servers searching for vulnerabilities to attack. This means that Kraken’s experts find the weak points in their security infrastructure before hackers do. 

On top of this additional security features include 2 factor authentication, encrypted email communication, customer email confirmation for both deposits and withdrawals, account timeout protection, real time suspicious activity monitoring and 24/7 chat support. 

All of these features clearly display Kraken’s focus on the safety and security of their customers. 

Kraken Fees and Limits

When depositing funds in to Kraken they offer a number of free options for all supported fiat currencies; however if you would like to deposit using an alternative method such as swift, a deposit fee with apply. Similarly, Kraken offers various withdrawal methods from zero cost up to $40 to withdraw fiat currency. 

A Kraken customer’s limits are based on their account verification level – Starter, Intermediate or Pro. 

 Starter level customers must provide their basic contact information and enable 2 factor authentication. Starters can withdraw $5,000 worth of crypto per day however cannot deposit or withdraw fiat currency. 

 Intermediate customers must provide additional information including a valid ID, proof of residence, occupation information, social security information and a photo of their face. Intermediates can withdraw $500,000 worth of crypto per day and can deposit or withdraw $100,000 in a 24 hour period. 

Finally Pro customers must complete all of the requirements listed above and a KYC (know your customer questionnaire).  Pros can withdraw $10,000,000 worth of crypto per day and can deposit or withdraw $10,000,000 in a 24 hour period. 

 All customers have unlimited cryptocurrency deposit limits.  

For non-leveraged purchases and sales on Kraken, the fee structure is simple. 

Kraken charge a fee each time your order is executed, this is between 0% up to 0.26% and is dependent on the currency pair that you are trading, your overall trading volume over the past 30 days and whether your order is a maker or taker. 

Makers provide the liquidity for trades, whereas takers take the liquidity to do trades.  

Your 30 day volume is the total amount of trades (either buy or sell), that you make in a 30 day period. As an example, if you trade $0 – $50,000 there is a 0.16% maker fee / a 0.26% taker fee. This fee then decreases to a 0.02% maker fee / a 0.12% taker fee when your 30 day volume is between $5,000,001 – $10,000,000. 

If you are margin trading, additional fees apply including a margin opening fee and a margin rollover fee. These range from 0.01% to 0.02%. 

More detailed and up to date information can be found on Kraken’s link. 

Kraken Review Services Offered and Customer Support

Kraken offer a broad range of services, their primary focus are there exchange services; however they also offer margin trading, OTC and futures trading.  

Kraken’s customer support is second to none. 

In addition to conventional support channels such as email forms, Kraken support their customers in a number of ways: 

Live Chat:  Kraken offers a great range of services which can be broken down into 3 main categories: buying/selling for anyone, Kraken Broker for traders and a more tailored B2B offering for business.  

Help Center & Support Library: This section of the platform features a wide range of documentation to help their customers resolve any issues they may experience. 

Advanced Trading Documentation: Trading is a wide ranging and sometime complex subject, Kraken help beginner to advanced level traders with their in depth trading guides. 

Kraken Supported Countries

Kraken supports a huge number of countries from across the world, here is a comprehensive list:  

Albania, Andorra, Anguilla, Armenia, Aruba, Austria, Bahamas, Bahrain, Belarus, Belgium, Benin, Bosnia & Herzegovina, Botswana,  Bulgaria, Burkina Faso, Burma (Myanmar), Cambodia, Cayman Islands, Chile, Congo, Cook Islands, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, El Salvador, Equitorial Guinea, Estonia, Faroe Islands, Finland, France, French Guiana, Gabon, Gambia, Georgia, Germany, Gibraltar, Greece, Greenland, Grenada, Guadelope, Guernsey, Guinea, Vatican City, Hong Kong, Hungary, Iraq, Ireland, Isle of Man, Israel, Italy, Ivory Coast, Jersey, Kuwait, Kyrgyzstan, Laos, Latvia, Liberia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Maldives, Malta,Martinique, Mauritius, Moldova, Mongolia, Montenegro, Mozambique, Namibia, Netherlands, New Zealand, Niger, Nigeria, Northern Ireland, Norway, Peru, Philippines, Poland, Portugal, Qatar, Reunion, Romania, Russia, San Marino, Senegal, Serbia, Seychelles, Slovakia, Slovenia, South Africa, Spain, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan,Trinidad & Tobago, UAE, Ukraine, United Kingdom, Uzbekistan, Virgin Islands, Zimbabwe