Founded in 2011, US-based Kraken is the largest crypto exchange when it comes to trading bitcoin and altcoins in euros. It’s also one of the most secure exchanges out there, given its comprehensive range of safety measures, self-regulated approach, and security audits. Another big plus is that its fees are among the lowest in the industry, with free deposits and very competitive withdrawals and trades. Besides, you can trade on the go using its web platform or one of its mobile apps.
Kraken offers an exhaustive range of different trading options that range from placing the usual limit orders and stop-loss orders to a dark pool and margin trading. It enables trades not only between cryptocurrency pairs but also between fiat currencies (e.g., pounds, euros), so it’s an excellent fiat-to-crypto gateway.
During its year in the cryptoverse, it has made a name for the following key features:
- Fiat-to-crypto onramp with high liquidity. Kraken allows you to trade more than 32 cryptocurrencies in more than 140 markets with six fiat currencies: U.S. dollars (USD), euros (EUR), Canadian dollars (CAD), Japanese Yens (JPY), Great Britain Pounds (GBP), and Swiss Francs (CHF).
- Dark Pool. If you’re looking for an exchange with an invisible order book, look no further. In the dark pool, each trader only knows his orders and can trade anonymously without revealing their interest to other traders.
- Kraken’s Over The Counter (OTC) service. High volume traders can use Kraken’s OTC with a one on one service.
- 24/7 customer support desk. Kraken offers around the clock global customer support chat in case you have questions or run into troubles using the exchange.
- Margin and futures trading. Kraken exchange offers cryptocurrency margin trading with up to 5x leverage.
- Forex trading. Aside from trading cryptocurrencies, you can also exchange your fiat currency into one of six other supported fiat currencies.
- Secure and trustworthy platform. Kraken is the industry leader in terms of crypto security. It has never been hacked before, so you can get goodnight’s sleep even when your funds are left in the exchange’s custody.
All in all, Kraken is an old and reputable cryptocurrency exchange for traders looking for fiat on and off-ramp. It comes with a variety of features and advanced trading options for every seasoned trader, as well as simple trading options for novice crypto enthusiasts.