Kraken is a low-risk, beginner-friendly crypto exchange that was founded in 2011 by Jesse Powell and has over 9 million clients worldwide. You can trade more than 100 cryptocurrencies and tight spreads are guaranteed according to Kraken.

Features

Kraken 6 key point overview:

1. ✔️Overview
2. ✔️Product offering
3. ✔️Wallets
4. How to open an account
5. Support
6. What makes Kraken special

Overview

👉 You can also leverage your trades by up to 5x and increase your earnings with the Kraken staking program.

👉 The Kraken customer support team is available 24 hours a day, 7 days a week and if you are new to crypto trading, you’ll find some great how-to guides, videos and podcasts on the Kraken website.

👉 The mobile apps are designed to be beginner-friendly.

👉 Safety is no issue with Kraken because this exchange is the first crypto company ever to be awarded a US state banking charter, making Kraken a Special Purpose Depository Institution (SPDI)

👉 An SPDI is a bank that operates under the supervision of the Wyoming Division of Banking under strict regulations.

👉 Now that you know more about the company, let’s discuss the products and features Kraken offers in more detail:

Product offering

👉 Kraken has made a great effort to make the platform safe, so let’s start by looking at why this is one of the safest crypto exchanges you can trade with:

➡️️​ 95% of all deposits are kept in offline, air-gapped, geographically distributed cold storage and their servers are in secure cages under 24/7 surveillance by armed guards and video monitors.

➡️️​ All sensitive account information is encrypted and they run a bug bounty program to identify vulnerabilities in the systems they use

➡️️​ Accounts can be secured using Google Authenticator and Yubikey (2FA)

➡️️​ Email confirmation is needed for withdrawals

➡️️​ You can configure your account to timeout after a certain amount of time

➡️️​ SSL Encryption is used to protect you while you are browsing on Kraken

👉 If you’re not sure how to configure these security measures, head over to the “security features” page and read through the how-to guides provided.

👉 Once you’ve created an account and secured it, you’ll be able to trade more than 100 of the most liquid and most popular cryptocurrencies.

👉 Before you can buy crypto, you will need to fund your account.

👉 You can fund your Kraken account with fiat currencies using third-party payment apps, wire transfer, and debit or credit cards.

👉 You can also fund your account using the crypto you already have.

👉 If you’re an institutional client, Kraken offers special corporate-level funding methods.

👉 You can find more details on their fee structures under the “Features” tab and you can get started with as little as $10, which is another reason Kraken is one of our top-rated crypto exchanges for beginners.

👉 Now that your account has been secured and funded, you can start choosing the cryptocurrencies you’d like to add to your portfolio.

👉 Kraken offers more than 100 cryptocurrencies, including Kusama, Cardano, Compound, Algorand, Cosmos and Dash, and all you need to do is download the free mobile app.

👉 The Kraken app is a beginner-friendly mobile app that can be downloaded from Google Play or AppStore.

👉 It can be used to easily manage your account and instantly purchase cryptocurrencies.

👉 Kraken also offers a more advanced app called Kraken Pro, which has enhanced security features.

👉 You can also create watchlists on this app and view charts in different time frames.

👉 To download the Kraken apps, click on the “Get the app” button or download it from the homepage.

👉 If you are not sure which cryptocurrencies to buy yet, we recommend reading through the guides and blogs provided so that you have more background knowledge about the cryptocurrencies offered.

👉 Once you’ve started building your crypto portfolio, you can try some new things – like leveraging your trades or staking the crypto you own.

👉 With Kraken, you’ll be able to leverage your trades by up to 5x and if you’re interested in staking crypto, you can earn up to 23% interest annually on more than 12 popular cryptocurrencies.

👉 Kraken is also a great platform for trading Spot markets, Indices and Futures and you can use the Cryptowatch tool to keep tabs on your favourite cryptocurrencies.

👉 With this tool, you can watch more than 2,000 cryptocurrencies and create price and volume alerts for the ones you are adding to your portfolio.

👉 You’ll also be able to customise and analyze charts in detail to keep track of even the slightest price movements.

👉 If you prefer using your desktop, all you need to do is sign in to your account to use the web interface, where you can easily buy and sell crypto, contact support, stake cryptocurrencies and review your account history.

Wallets

👉 Kraken is a crypto exchange only and does not provide a wallet, so we recommend transferring your assets to your preferred crypto wallet once you’ve purchased them.

👉 The safest type of storage for digital assets is a hardware wallet, like Ledger or Trezor and these wallets can be managed with apps.

👉 The Ledger hardware wallet is available in the Nano S and the Nano X models and using Ledger Live, you can buy and exchange over 5,000 coins and tokens.

👉 This wallet offers secure offline storage, it is compatible with 50 third-party wallets and can store up to 100 dApps.

👉 The Trezor hardware wallet is one of the most trusted crypto wallets with advanced password encryption.

👉 This wallet can be connected to third-party wallets, used with the Trezor app or be integrated seamlessly with Ethereum.

👉 You can also connect a software wallet, which may be the more affordable and user-friendly option for some people. We recommend using Exodus, the Coinbase Wallet or Mycelium.

👉 The most important thing to consider when choosing a wallet is making sure that it supports the coins or tokens you are buying, for example, can your wallet store altcoins and is it compatible with ERC-20 tokens? Does your wallet have good customer reviews and additional security features?

How to open an account

You can easily create an account with Kraken in a few easy steps.

Step 1: Visit the Kraken website

Visit the official Kraken to start the process of opening an account

Step 2: Click on the “Get Started” button.

To open an account with Gemini, open the home page and click on the “Get Started” button.

Step 3: Fill in the form.

You can sign up with your email address and you will be required to fill in your personal details. Once you have created your account, you must verify your email address or mobile number.

Once your account is verified and complete, you can make your first deposit and start trading!

Support

👉 The Kraken customer support team is available 24/7 and you can reach them via live chat and email.

👉 You can either contact them directly from the mobile app or web interface, or you can click on the “Features” tab and navigate to the support page from there.

👉 You can also call them directly if you need more personalized assistance.

What makes Kraken special

👉 Kraken is one of the safest crypto exchanges in the world because this company operates under the supervision of the United States Wyoming Banking Division and their accounts offer high levels of security.

👉 This is also one of the best exchanges for beginners because their apps are designed to be beginner-friendly, you can start buying crypto with as little as $10 and there are plenty of educational guides that you can use along the way.

👉 But if you’re looking for something more advanced, Kraken does offer a Pro version of the mobile app.

👉 The web exchange has plenty of built-in tools for analysis and you can set up price alerts and watch lists for your favouite instruments.

👉 In the near future, you will also be able to buy exclusive NFTs directly from Kraken. In the meantime, why not open an account and join the waitlist?