The Kraken exchange was founded in 2011 in San Francisco city. Now the Kraken exchange is the largest exchange in terms of trading volumes with euro, US dollars, Canadian dollars, pound sterling and yen. This is the first exchange, which price for cryptocurrency was reflected in the terminal of the Bloomberg TV channel. In addition, the last, crypto exchange Kraken was the first among cryptocurrency exchanges, who has passed cryptographic audit. All these factors allow hundreds of thousands of customers from all over the world to trust the Kraken exchange.
To get to the Kraken exchange, you need to go to kraken.com, it will take you to the official site Kraken. The site has an English-language interface and you can choose British English, and you can choose American English, if you want more exotic, then choose Japanese. Lack of Russian language is not a problem, because the buttons and sections inside the cabinet and the site are located so that even on an intuitive level you can find everything that interests you. If not, then read the review further, we will help to understand.
Kraken users, on the first page is asked to create a new account, you do not need to even go through any tabs. Enter your data, namely: e-mail, username – your nickname on the exchange, and invent password. The password must contain letters, numbers and other characters, these characters can be “-“, “+” or “$”. Tick and press the black button.
After that, you get to the second part of the registration, where you need to enter the activation key, which was sent to you by e-mail or standard click on the link in the letter.
After clicking on “Active account”, your account will be permanently registered and your next step will be verification.
Verification of personal cabinet of Kraken, this is a very important point when dealing with this exchange. It consists of 4 stages, when you receive them, you get more opportunities on the Kraken exchange. Personal cabinet has this kind of.
In the picture above, we have specifically highlighted the tab in which you need to go to begin the procedure of confirming your identity. The first level of verification, passed by you immediately after the opening of the personal cabinet. To pass the second step, you need to write your first and last name, specify the date of birth, select the country and specify your phone number. After clicking on “Get verified”, the second step of registration will be passed, and you will be offered to pass the third. The window of the third verification step, this is.
Roughly speaking, when passing the third step of verification, you need to confirm your place of residence on the documents. Enter the data that is listed in your registration documents and click “Get verified”.
The fourth step is the step on which you need to load your documents. For verification you need to confirm your identity, it is necessary to load a scan copy of passport or driver’s license. And to confirm your “registration”, for this purpose: an extract from the bank card (usually in the statement indicate where the person is registered), or a receipt for payment of utility services (not older than 3 months). After you have loaded the documents, you need some time for the support service to confirm them, and you have moved to the last step of verification. Nevertheless, you don’t need it if you’re not going to register your business account.
Well, let’s go to the main section of the cryptocurrency exchange Kraken, to the section of trade, in the original here it is called “trade”. And to be honest, it seemed to us a little unfinished. See for yourself.
What do you think is missing? Correctly, the Kraken exchange does not provide its traders with a cryptocurrency chart. However, to be honest, most cryptocurrency traders do not need any graphics, but smart traders are not really much. Most of them are chasing the sale of their signals, and forget about their quality.
This exchange provides an opportunity to trade 17 types of cryptocurrency, which can be paired with euro, US dollars, Canadian dollars and yen. Kraken exchange traders are offered two types of orders: Market and Limit. Let’s add a little theory.
Market order is an order to an exchange or broker to open a transaction at the market price, i.e. at the price that is on rank right now.
Limit order is an order to an exchange or broker to open a transaction below the market in case of purchase, and above the market in case of sale. This way Limit helps to enter the order at a more favorable price.
That’s the short eradication of illiteracy, we gave you. It is worth paying attention to the fact that cryptocurrency Bitcoin on the Kraken exchange has a different from the other exchanges symbol XBT. It is very simple to put orders on the Kraken Exchange. On the left side, choose the type of order you want, we pointed to it with the red arrow. To see it more clearly, look at the picture.
In the next field, you need to enter the volume that you want to buy or to sell. Next, specify the price at which you want to open the trade. And in the last column, you will see the amount necessary for the transaction. This template is suitable for limit orders.
When opening a transaction at the market price, you only need to fill in the transaction volume. It should be noted that the exchange provides the opportunity to trade with leverage.
Another very important aspect, which is worth paying attention to, using the Kraken exchange, is the security of your account, which you can configure through the “Security” tab, through the same tab you can change the password to enter the site. To improve security, you are offered to use 2-step authentication, which can be set at the entrance to the account, when opening or closing an order, and at replenishment and withdrawal of funds from the account. If you are a fan of security, then put 2-step authentication for all categories.
Commission of the Kraken exchange is 0.24% and decreases with the increase in trading volumes. This approach encourages traders to trade more actively.
You will be able to replenish on the Kraken exchange only after passing the verification, as we have written above. After that, on any of the cryptocurrency wallets located inside the LC, you can transfer money. However, to do this you will need to generate a wallet address. However, this procedure does not differ from such procedures on other exchanges.
On this, we will finish our review of the Kraken exchange. If you think that the Kraken exchange is not suitable for you, then read the review of another exchange – Yobit.