What is Kraken?

bitcoin at sea, metaphorically representing the kraken cryptocurrency exchange

What is Kraken?

Aside from being a giant sea monster from Norse mythology, Kraken is also a US based cryptocurrency exchange established in 2011. Kraken officially launched it’s platform in 2013 and has since grown to support over 4 million users in 200+ countries. The company’s headquarters is located in San Francisco, California but they also have offices around the world. The platform enables users to trade all kinds of cryptocurrency assets, even allowing margin trading on approved pairs. It is the largest cryptocurrency exchange in terms of trading in euros. The Kraken cryptocurrency exchange is generally considered one of the most secure crypto trading platforms on the market, due to it’s continual safety checks and security audits. It is a fully regulated exchange, in compliance with all rules and regulations in it’s supported jurisdictions, requiring users to pass KYC (Know-Your-Customer) checks in order to trade.

Funding

Currently Kraken only allows users to fund their accounts by transferring cryptocurrency from a different source or by initiating a bank wire transfer. The only exception seems to be, if you live in Canada, you  may now have the option to fund your account in person using cash or card via an agreement with Canada Post. There are various different options for funding, depending on if you’re using USD, EUR, CAD, AUD, GBP, CHF or JPY.  For more details, visit Kraken’s funding options page.

Fees

Kraken uses a volume based maker-taker fee model ranging from 0% – 0.26% per transaction. They are considered to have some of the lowest fees in the industry. The table below shows the fees for regular trading on the Kraken platform, for more information check out their fee schedule page.

30-Day Volume Maker Fee Taker Fee
$0 – $50,000 0.16% 0.26%
$50,001 – $100,000 0.14% 0.24%
$100,001 – $250,000 0.12% 0.22%
$250,001 – $500,000 0.10% 0.20%
$500,001 – $1,000,000 0.08% 0.18%
$1,000,001 – $2,500,000 0.06% 0.16%
$2,500,001 – $5,000,000 0.04% 0.14%
$5,000,001 – $10,000,000 0.02% 0.12%
$10,000,000+ 0.00% 0.10%

Trading Pairs

At the time of writing there are 38 coins and 176 trading pairs listed on the Kraken cryptocurrency exchange. For convenience, many of the available asset pairs have been listed below. For further details and up to date information, check Kraken’s available currency pairs.

Crypto / Crypto Pairs
XBT ETH USDT DAI USDC
Algorand ALGO
Augur REP
Augur v2 REPV2
Basic Attention Token BAT
Bitcoin XBT
Bitcoin Cash BCH
Cardano ADA
Chainlink LINK
Compound COMP
Cosmos ATOM
Dash DASH
Dai DAI  —
Dogecoin XDG
EOS EOS
Ethereum ETH
Ethereum Classic ETC
Gnosis GNO
ICON ICX
Kava KAVA
Kyber Network KNC
Lisk LSK
Litecoin LTC
Watermelon MLN
OmiseGO OMG
Orchid OXT
PAX Gold PAXG
Monero XMR
Nano NANO
QTUM QTUM
Ripple XRP
Siacoin SC
Stellar Lumens XLM
Storj STORJ
Tether USD USDT  —
Tezos XTZ
Tron TRX
USD Coin USDC  —
Waves WAVES
Zcash ZEC

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