Kraken is a prominent US-based cryptocurrency exchange. It provides users with the ability to buy, sell, and trade a diverse range of assets at competitive commission rates. Notably, clients can also earn rewards through coin staking. The exchange boasts a leading position in terms of euro volume and liquidity. Thus, empowers users to trade over 100 cryptocurrencies and 7 fiat currencies, including USD, CAD, EUR, GBP, JPY, CHF, and AUD, all while enjoying the convenience of a web platform and mobile apps.
Established in 2011, Kraken was among the early pioneers of crypto exchanges, offering spot trading, derivatives, and index products. Today, the company offers a comprehensive suite of products and services, including spot trading, margin trading, futures, indices, stakings, OTC services, and an upcoming non-fungible token (NFT) marketplace. With a user base of over 8 million traders and institutional clients, Kraken enjoys support from prominent backers like Digital Currency Group, Blockchain Capital, Tribe Capital, Hummingbird Ventures, and more.
Who Are the Kraken Founders?
The centralized exchange is owned by Payward Inc., with its CEO being crypto pioneer Jesse Powell.
Jesse Powell has been immersed in the world of digital currencies since 2001. He holds a degree in Philosophy with a concentration in Ethics & Law from California State University, and his journey includes founding the Verge Gallery and Studio Project and establishing Internet Ventures & Holdings.
When Did Kraken Launch?
Kraken was founded in 2011 and officially launched in September 2013, initially offering trading for Bitcoin, Litecoin, and euro-denominated assets.
Where Is Kraken Located?
Kraken’s headquarters are situated in San Francisco, California.
Kraken Restricted Countries
While Kraken serves customers in nearly 200 countries, there are restrictions for certain regions. U.S. residents, except those in New York and Washington, have access to Kraken, but its Futures are not available to all U.S. residents. Additionally, the platform is restricted in countries including Afghanistan, Central African Republic, Congo-Brazzaville, Eritrea, Congo-Kinshasa. Also, Guinea-Bissau, Cuba, Lebanon, Iran, Mali, Iraq, Namibia, Libya, Somalia, North Korea, South Sudan, Syria, Sudan, Tajikistan, and Yemen.
What Coins Are Supported?
Kraken supports over 120 cryptocurrencies on its platform. Including popular options like BTC, ETH, LTC, XRP, ETC, ZEC, USDT, and many more.
How Much Are Kraken Fees?
Fees vary depending on the product. For the basic Instant Buy service, fees are 0.9% for stablecoins and 1.5% for other cryptocurrencies. In addition to fees associated with different payment methods. Kraken Pro employs a maker-taker fee model, with maker fees ranging from 0.00% to 0.16% and taker fees ranging from 0.10% to 0.26%, determined by the user’s trading activity over a 30-day period.
Is It Possible To Use Leverage or Margin Trading?
Kraken Pro offers margin and futures trading features for advanced users, with leverage options of up to 5X, subject to currency pair-specific limits.
