Kraken

Founder

Jesse Powell is the Co-Founder and CEO of Kraken Exchange. Previously, he has served as the Founder and Board Member of Verge Center for the Arts. He has also been the Co-Founder and CEO of Internet Ventures & Holdings, Lewt.Inc and Verge Gallery & Studio Project.

Key features

  • Largest Bitcoin exchange in Euro volume and liquidity but not suitable for beginners.
  • Currently supports 18 different coins and fiat currencies like Euro, US dollars, Canadian dollar, British pound and Japanese yen.
  • Deposits and withdrawals can be made via SEPA, SWIFT, Wire Transfer and Crypto.
  • Kraken is available all over the world, but the website supports only English and Japanese. The exchange can also be accessed via the iOS app.
  • Fees are among the lowest of all the major bitcoin exchanges. The fees you pay depend on the tier of your account; the higher the tier, the more volume you can trade with your account. The more volume you are trading, the lower the fees.
  • Margin trading is supported.
  • Two-factor authentication feature is available not only on account login but also in the trading and funding processes, providing an extra layer of security.

Account Opening

Sign up by inputting your email address and create a password. You also have the option to share a PGP (Pretty Good Privacy) public key that the platform can use for added security when sending you emails. You are also prompted to create a master key that gives your account a second layer of security that includes two-factor (2FA) login protection. Activate your account and registration process is completed. In order to trade, send and withdraw funds you need to verify your account. There are different levels of verification (Tiers), and each level provides different features. Immediately after you sign up, you get a Tier 0 account. The differentiation of tiers is based on the daily and monthly limits on fiat and cryptocurrency deposits and withdrawals. The different tiers also expose you to different fee structures. The higher the account tier, the lower the fees you pay per trade. Next, link your bank account to your new Kraken account to deposit or withdraw money. Log in to your Kraken account and click on Funding. Enter bank account details as requested. Make sure that the bank account holder is the same of the Kraken account for successful trading.