In this video, I answer the question “What is the Kraken Exchange?” and explain the features and functionality of my favorite cryptocurrency exchange: Kraken. You will learn what the crypto exchange Kraken is, how it works, what it’s used for and all of the interesting features and functionality that make Kraken an amazing exchange for trading crypto!
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What is the Kraken Exchange?
Kraken is not just a legendary sea-monster, but Kraken is also a legendary cryptocurrency exchange. You can buy, sell, trade and learn about various crypto’s on their exchange.
The platform was founded in 2011 by Jesse Powell who is a major influencer and pioneer in the cryptocurrency industry. Kraken is one of the oldest and most reliable cryptocurrency exchanges in the world. At the time of recording, Kraken is available to residents of 48 different U.S. States and over 176 countries. They offer over 40 different cryptocurrencies available to trade on the exchange, and are adding new crypto’s at a fast clip.
What Makes Kraken Great?
Kraken is really focused on security and superb customer support. I’m sure you’ve all read or seen in the news of various cryptocurrency hacks and exchanges being hacked and losing customers funds, this has never happened with Kraken in all of it years of operations because of the emphasis it puts on security.
Some of the major pain points I hear in the crypto space is lack of customer support. You know these start ups are moving 1000 miles per hour and they work through a backlog of issues. One of the things that really separates Kraken from every other exchange, is it’s superb customer support team who are readily available to assist you in case of any issues. You simply will not find another exchange that is more secure and offers better support for their customers than Kraken.
What Features Does Kraken Offer?
Kraken offers many different features that you won’t find on other cryptocurrency exchanges. You can make big money on Kraken, they offer up to 5x leverage meaning that you can trade with more money than you have deposited. You can also short cryptocurrencies as well as invest in futures as well with up to 50x leverage.
Proof of Stake coins are gaining a lot of traction and Kraken actually offers you the ability to Stake your crypto on their platform.Staking is the process of actively participating in transaction validation, similar to Bitcoin mining, but on a proof of stake blockchain, anyone with the minimum required balance of a specific cryptocurrency can validate transaction and earn staking rewards – or free cryptocurrency. Kraken makes this easy to do, which you won’t find on a lot of other exchanges.
Is Kraken User Friendly?
Perhaps one of the knocks on Kraken is that it isn’t user friendly. I actually kind of disagree with this label. I’ve always found Kraken intuitive and easy to use. Kraken has a library of cryptocurrency resources where you can study and learn about what you’re investing in. They do a really good job of offering resources to educate their customers with different Crypto Guides, videos and tutorials.
You can probably tell that I’m an avid user of the Kraken exchange myself! Kraken is one of my favorite exchanges and I really admire how they put an emphasis on security and customer support.
#crypto #cryptocurrency #kraken
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DISCLAIMER: I am not a financial advisor nor am I giving financial advice. You should not take my opinion as financial advice. This is my opinion only. You should always do your own research and understand the risks of investing. Don’t risk more than you’re willing to lose!