Exchange Kraken – full review 2022. Registration on the official website, verification, replenishment and withdrawal, cryptocurrency trading


The Kraken exchange is one of the oldest and reputable platforms for trading cryptocurrency. The company was founded on July 28, 2011 in San Francisco. In May 2013, open beta testing began, and on September 10, the service officially opened. CEO (CEO) – Jesse Powell. Kraken operates within the legal framework of the law in compliance with the rules of KYC and AML. On the crypto exchange, it is possible to deposit / withdraw fiat currencies. Since 2014, Kraken has been cooperating with the German bank Fidor Bank, which has allowed it to quickly become the first in terms of trading volume in the euro.

Why is the Kraken crypto exchange still interesting and what objective characteristics is it famous for? Why is it preferred by respectable investors, experienced speculators and a large audience of beginners intent on achieving financial triumph by trading bitcoin and alcoins? The entire range of relevant nuances related to the Kraken cryptocurrency exchange is detailed in this review.

Official site: Trading terminal: There is no Russian language, as the exchange focuses on clients from Europe, USA, Canada.

19 cryptocurrencies are available for trading (Bitcoin, Ethereum, Bitcoin Cash, XRP, Tether, Stellar, Litecoin, Monero, Cardano, Ethereum Classic, Dash, Tezos, Augur, Qtum, EOS, Zcash, Melon, Dogecoin, Gnosis); 5 fiat currencies (Canadian dollar CAD, pound GBP, dollar USD, Japanese yen JPY, euro EUR) and 69 currency pairs. Trading volume as of 11/11/2018 – USD 36 million or 5704 BTC. The most liquid pairs: BTC / EUR, ETH / USD, BTC / USD.

On Kraken, margin trading with leverage up to x5 is available in the following cryptocurrencies: Bitcoin, Ethereum, Ethereum Classic, Augur, Monero. The leverage depends on the cryptocurrency pair.

The exchange has introduced a level-based verification system. Basic level 0 assumes only familiarization with the platform without the ability to trade. Level 1 – Cryptocurrency trading is allowed. Level 2 and higher – you can work with fiat money, the limits have been increased.

Kraken is actively acquiring various crypto assets (exchanges, wallets, etc.) to expand the service delivery market. In 2016, a strategic deal was concluded to purchase the American exchange Coinsetter. Together with her, Kraken received the Canadian trading platform CAVirtex. Following this acquisition, Kraken returned to the US market from which it left in 2014. The number of clients doubled in a month. This was followed by a purchase: the Galandan CleverCoin and the American Glidera. One of the latest launched services is OTC, OTC trading in large amounts (minimum $ 100 thousand).

Reviews of popular exchanges:

  1. Localbitcoins.
  2. Bitmex 
  3. Binance 
  4. Exmo 

Kraken Exchange Review

The Kraken trading platform became fully operational in the winter of 2011. The head office is based in San Francisco. Today, the Kraken exchange is consistently leading in terms of trading volumes for crypto assets containing major fiat currencies. Quotes of virtual currencies from this crypto exchange were broadcast for a long time in the thematic broadcasts of the Bloomberg channel. In 2013, the Kraken service was the first to successfully pass the stages of a cryptographic audit, which became a significant event in the emerging environment of cryptocurrency traders.

For a long time the site was in the shadow of analog projects, however, since mid-2014 its popularity began to grow rapidly. This circumstance was facilitated by the bankruptcy of a competitive player in the cryptocurrency market – the MtGox exchange. Probably, it was not so easy to entrust the specialists and management of Kraken with a detailed study, as well as the disclosure of the facts of theft of Bitcoin from the personal accounts of its clients. It was also entrusted to reimburse the crypto coins lost by users or compensate for the loss with fiat money, if there are appropriate applications. It was this situation that radically changed the prospects for the Kraken cryptocurrency exchange.

A considerable number of users and investors who speculate in coins instantly switched to the Kraken crypto exchange, luring colleagues from competitive platforms. The growing success was also facilitated by the clear implementation of planned innovations and extensions, such as the increase in the number of cryptocurrency assets, the launch of an improved trading platform, and much more.

Features of the Kraken exchange

The Kraken cryptocurrency exchange cannot surprise experienced traders with radically new characteristics, since the basic parameters and conditions of similar projects are largely identical. However, it has a number of interesting features:

✅ A good listing of digital coins included in exchange instruments (currency pairs). There are lesser-known altcoins like Gnosis, Melon, Augur. Naturally, top crypto coins are presented – Ethereum, Bitcoin, Tether, Cardano, Litecoin, EOS, etc.

On the Kraken cryptocurrency exchange, the well-known Bitcoin is represented by the not quite typical XBT ticker. This is a new, alternative designation for Bitcoin, which is currently being disputed for general use. This specificity must be carefully considered.

✅ There is a margin trading option. Leverage for short positions and long orders up to x5. For example, a speculator who has made a $ 1200 trading deposit, trading with leverage, can dispose of a maximum of $ 6000.

✅ It is not unreasonably considered a site in which the best security measures are implemented. The bulk of client funds are placed in cold crypto wallets.

✅ Acceptable commission rates. The exact value is determined by the trader’s trading volumes. Makers placing orders will pay up to 0.16% of the deal, and takers who accept offers from makers will pay no more than 0.26%.

✅ Customer verification is multi-stage and complex. Without the successful passage of even the zero stage, no actions in your personal account are possible.

✅ The interface of the Kraken exchange platform is available in two versions – Japanese and English (USA and GB). The project has the strictest focus on clientele from the USA, Europe, Canada and Japan. This circumstance creates many problems for crypto traders from other countries.

✅ Confidently, the service is ahead of competitive projects in terms of daily trading volume in the XBT / EUR pair.

✅ The trading platform provides registered clients with the opportunity to study expert opinions, analyze quotes and watch online price charts of cryptocurrency pairs on the professional TradingView resource. ✅ This is how deep technical analysis is carried out, which improves the quality and literacy of opened orders.

✅ Primary focus on speculation and exchange with bitcoin.

Positive qualities of the project

The popular Kraken exchange, along with attractive features, is characterized by a considerable number of significant advantages, which is demonstrated by the remarkable project performance. The lack of a Russian-language interface is not a reason to refuse to work with the exchange. Many residents from Eastern Europe are actively implementing their own ideas and strategies for making money on cryptocurrency.

In addition to positive features, the Kraken exchange also has advantages:

✅ The list of listed virtual currencies and fiat currencies is rarely replenished with new assets. Now trading pairs are made up of 24 instruments. At Kraken, altcoins are comprehensively studied and tested by specialists, so a random crypto coin, devoid of prospects and demand, will not appear here.

✅ The credibility and popularity of the Kraken cryptocurrency exchange, of course, in the positive sense of these concepts. Professional specialists and experienced developers are renowned for their qualifications, technical solutions, and knowledge of blockchain technologies. They anticipate many problems and successfully resolve emerging difficulties.

✅ Sufficiently high-quality and responsive technical support. Through chat and email, you can promptly resolve force majeure situations, receive advisory assistance, and clarify work points. Also created on the official website of the Kraken is a constantly updated online guide to the most relevant topics.

Disadvantages of the Kraken exchange

Along with the positive aspects, the Kraken exchange has some flaws. Considered to be significant disadvantages:

✅ The interface of the website is essentially bilingual – Japanese and English. Other users are often faced with mixed problems that cannot be solved with online browser translators.

✅ Unforeseen withdrawal of earnings or the remainder of the deposit in Russian rubles. There are many clients using RUB, although for some reason there is no rush on the part of the developers to solve this problem with the withdrawal of funds.

✅ An extremely convoluted and unusually difficult verification, failure to complete which effectively blocks any action on Kraken. Yes, after registering, it is allowed to “wander” through the sections of the account, view the quotes of cryptoassets and admire the price charts. Users who have passed the appropriate stages of identity verification are allowed to perform conversion or speculative operations, deposit funds, withdraw fiat money with cryptocurrency.

✅ There is a commission for replenishing the trade balance. Most digital coin exchanges do not charge this fee, however, Kraken does not accept this trend and charges money for such a simple operation.

✅ A limited range of options for withdrawing fiat money from an exchange account. There are no popular payment systems, and you can get your own funds only by bank transfers.

Registration on the Kraken website

Every user who wants to speculate or convert with decentralized currencies is required to register an account. Simply put, go through the registration procedure, which at the end has one atypical step.

Schematically the required procedure for registering for the Kraken:

  • Go to the official page of the crypto exchange (
  • Specify a valid email address.
  • Specify an individual login.
  • Generate and enter a unique password – more than 8 special characters, letters and numbers.
  • View the project terms and conditions. Agree with them by putting a tick in front of the phrase “I agree” (Agree to Kraken’s Terms …).
  • Click on “Sign Up”.
  • Wait for the system message to virtual mail.
  • This is where the slightly specific continuation of registration begins:
  • An email will be sent with a personal code. They confirm the creation of an account.
  • You need to copy the activation key and return to the cryptocurrency exchange page.
  • Place the code (Activation Key) in the specified window and solve the captcha.
  • Click the “Activate Account” button.

Registration on the Kraken website is now complete. The personal account interface panel will open, where settings, account protection, cryptocurrency balances, fiat money accounts, intra-exchange wallet addresses, etc. are available. However, at first these sections can be ignored, and concentration is required on the Get Verified tab.

Account verification on the Kraken crypto exchange

The Kraken exchange site has good security measures, so the process of verifying identity here is especially difficult for traders. The project implements a holistic concept spelled out in the international standards for identifying online customers (Know Your Customer). There is a comprehensive study of the personality of an investor or crypto trader who comes to work on the site.

Verification for Kraken is multi-level – only 5 stages. Successful completion of each stage brings more freedom in using the options, capabilities and services of the crypto exchange.

When a trader is interested in long-term work with the Kraken exchange in order to earn or change cryptocurrency, it is proposed to go through all verification levels at once. If the user comes in to show curiosity about the structure of the service, the offered functions or for the sake of small deals, then the first and zero control level will be enough.

To begin the verification steps, click the Get verified tab. The top third of the page that opens is dedicated to explaining the meaning of specific levels of the control procedure. Below is a questionnaire for the first stage of verification, since the zero is automatically certified during registration. It only gives you the opportunity to “walk” through the pages of the Kraken exchange floor.

So, the stages of identity confirmation:

  1. The first stage (Tier 1) is required from the user: phone number, country of residence, date of birth and full name. Unlimited account replenishment and withdrawal of cryptocurrency in equivalents will be available – daily up to $ 2500 and monthly maximum $ 20,000.
  2. Second stage (Tier 2) – you need information about registration. An opportunity will open up to operate with fiat currency – every day up to $ 2,000 and less than $ 10,000 in a month. For crypto coins, the limits will grow to $ 5,000 and $ 50,000;
  3. The third phase (Tier 3) – it is necessary to send scanned copies of documents (passport, driver’s license), as well as confirmation of registration (for example, a receipt for housing and communal services). This is where margin trading becomes available. The limits are increased – for digital coins up to $ 5,000 and $ 200,000, and for fiat money – up to $ 2,500 and $ 20,000, respectively;
  4. The last, fourth level of verification (Tier 4) – it is provided for holders of large capital and clients who decide to open a corporate account. You need notarized copies of certificates and documents of an existing business or certified certificates confirming income. Also, here a personal agreement is drawn up with the administration of the Kraken crypto exchange. Limits on cryptocurrency and fiat money are reaching their maximum level – the equivalent of $ 100,000 daily and $ 0.5 million monthly.

At the bottom of the page – a form for filling out the data required for verification on Kraken:

The first stage of verification is not difficult to pass.

After verification, there will be a corresponding mark:

Top up your account

To replenish the Kraken’s trade balance, go to the “Deposit” section, the button of which is located on the top right of the main account page in the user’s personal menu. The second way is the Funding tab in the middle of the panel on the workspace.

From the list on the page that appears, you must select the desired cryptographic coin or fiat currency. After clicking on it, the address of the cryptocurrency or the account for fiat money funds of payment will be displayed. Before making a transactional transfer, you should punctually check the address of the crypto wallet or bank details. Transfers made by mistake cannot be refunded.

When you first replenish your deposit with cryptocurrency, you will need to generate their address. You need to click on the Generate New address button. It can be updated. Next, transfer the cryptocurrency to this address, taking into account the minimum amount. After the required amount of confirmation, it is credited to the deposit. You can buy cryptocurrency in the best Bitcoin exchangers.

Trading on Kraken

After completing registration on the official website of Kraken, passing at least the first two stages of verification (0th and 1st), as well as making a deposit, you can make money on the difference in price rates or, if necessary, exchange cryptocurrency in the required directions. All cryptocurrency exchanges, like the Kraken project, are characterized by a typical feature – on such trading platforms, the first part of a trading operation is an exchange action. That is, without continuing to buy with a reverse transaction, you can get other digital coins by taking the current rate.

Let’s say a trader buys 10 monero for 0.17 XBT or 1108.9 USD. In this case, after the first stage, ten Monero coins will be credited to the crypto account. He can transfer them to another, over-the-counter, external storage of coins. There will be a regular conversion here. However, if the speculating user decides to perform the reverse manipulation, after waiting for the desired quote, then a trading operation will be performed, where the price difference between opening / closing an order will amount to earnings. Different directions of these manipulations are allowed – cryptocurrency – fiat money funds, digital coins – coins and traditional currencies – cryptographic coins.

The meaning of exchange and speculative actions on the Kraken crypto exchange is clear. Now let’s look at the technical aspects of these procedures.

1. The first part of the transaction is the acquisition of a digital asset for cryptocurrency or fiat money. The scheme of manipulations in your personal account is as follows:

✅ At the top left in the drop-down menu, select the currency pair of interest, for example, XTB / USD or LTC / EUR. There is also a button that unfolds the price chart.

✅ Expand the “Trade” tab.

✅ In the submenu that appears, click on the New order button.

In addition to “New order”, the trading functionality contains buttons for navigating to important sections:

  1. Overview – information on active orders, trade balance and margin trading situation if leverage is involved.
  2. “Deals” (Orders) – data on executed and unclosed orders.
  3. “Trades” – a summary of completed transactions.
  4. Positions – information on active and completed deals in margin trading.

✅ Select the mode of making a deal. There are 4 options: “Simple” – regular buy / sell, “Intermediate” – with the possibility of margin trading, “Advanced” – you can use additional features, as well as “Trader” (Charting & Tools) – work on a professional terminal with maximum functionality.

✅ Specify the type of order. There is a “Market” (Market) – execution of an order instantly at the current quote, “Limit” – a pending order executed by the system when a given value of the price of a cryptocurrency asset appears.

✅ Mark the direction “Sell” (Sell) or “Buy” (Buy). The first is a bearish game, and the second is long positions designed for a further rise in the price of the underlying digital coin.

✅ Enter in the “Amount” window, against the purchased coin or currency, the amount that is supposed to be given.

✅ Click on “Skip order confirmations” and wait for the system signal about the executed order.

This completes the first stage. If the usual conversion was planned, then the received crypto coins can be withdrawn from the exchange floor.

2. Traders who make money on the price difference of assets must wait for the expected movement of the quote and perform the reverse manipulation in the same currency pair. Now all actions will be reversed, that is, instead of “Buy”, “Sell” is selected and vice versa. As a result, due to the well-predicted direction of the cost, a profit is formed.

The above conversion and speculation is an example of a simple “Simple” transaction. The variants of the “Intermediate” and “Advanced” deals are technically identical in execution, only their functionality is supplemented with special features. In them, the trading terminal is equipped with an online chart with a set of tools for technical analysis. It is also possible to take profit by means of a take-profit order, as well as to limit the unprofitable position with a stop-loss order.

The “Charting & Tools” trading mode is characterized by a wider range of analytical tools, professional indicators and an additional opportunity to place orders: trailing stop, stop-loss limit, take-profit limit, trailing stop limit.

Withdrawing cryptocurrency from the Kraken exchange

Of course, a profitable conversion or a series of successfully completed transactions gives rise to the desire to get earned cryptocoins or fiat money faster. The latter are withdrawn from the Kraken exchange to a bank account, and the transaction of coins is carried out to some kind of external crypto-wallet. This procedure is quite typical for both options. All actions must be performed in the “Funding” tab of the account menu in the “Withdraw” section.

The withdrawal option becomes open after the completion of the 1st verification stage. Consider the phasing of actions for withdrawing virtual money:

  1. Click the “Account” button in your personal account on the Kraken website.
  2. Go to Funding.
  3. Click on “Withdraw”.
  4. Mark the required cryptocurrency in the list of exchange assets.
  5. In the line “Address of the wallet” enter the address of the external storage of decentralized money, to which the transaction is ordered.
  6. Enter the number of coins to be withdrawn in the “Amount” field, taking into account the maximum limit. For example, to withdraw Bitcoin, you need a minimum amount of 0.005BTC.
  7. Activate the Withdraw key.

The request is executed quickly. Any difficulties and questions are solved by technical support specialists. By the way, Kraken exchange accounts can be safely used as an online cryptocurrency wallet.

Commission fees

Any exchange platform will certainly charge a variety of fees that form the main income of the project. Here Kraken excelled by all 120%, setting the following types of commissions:

  1. Percentage of the amount of the opened order. From 0% – to 0.16% for makers and from 0.10% – up to 0.26% for takers.
  1. Periodic loan fee for margin trading. Its averaged value for all assets is 0.01-0.02% of the total amount of an opened order. This percentage is withdrawn every 4 hours while the deal is active.
  2. Entering cryptocurrency or fiat money.
  3. Withdrawal of funds.

The exact tariffs must be specified on the site in the “Fees” section located in the footer of the crypto exchange website. Here everything is determined by the passed verification levels, methods of crediting and withdrawing money.

Conclusion and feedback

The Kraken cryptocurrency exchange has been stable in the market for more than 7 years, invariably enjoying popularity among investors, traders and exchange speculators. Now the project is systematically developing in the most popular areas, improving the quality of the functions and services provided. On the Kraken, digital coins can be operated by ordinary coin holders, as well as various companies. Any player in the cryptocurrency market is capable of achieving success here, regardless of the amount of start-up capital and experience.

The Kraken marketplace is a true long-liver in the world of digital money. She successfully coped with hacker attacks in 2012-2014. It is fair to assume that the professionalism of the specialists involved in the further development and optimization of the project will contribute to the subsequent growth, development, and popularization of the crypto exchange.

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